Withdrawing us dollars from PayPal - help needed

lescarp88

Hi,
I've got paid in US dollars from some online earnings. 

Is there a way of getting the USD balance out of PayPal while minimising any fees from PayPal or the recipient account?

I was looking at a barclays foreign currency account, but they need a £25k balance to be maintained.

Or perhaps HSBC foreign currency account would be a good option? 

jonesMUFCforever

How much are we talking about?
If you wanted to minimise fees why use Paypal?

AnnabelleLB

Use revolut then transfer to bank account that way?

lescarp88

jonesMUFCforever said:

How much are we talking about?
If you wanted to minimise fees why use Paypal?

The company can only pay me via PayPal in USD, there's no way of requesting a different payment. The amount is around 1,000 usd. 

lescarp88

AnnabelleLB said:

Use revolut then transfer to bank account that way?

Do you know how I'd set that up and what the fees would be? (i have a UK PayPal account, just to clarify) 

ischris85

lescarp88 said:

AnnabelleLB said:

Use revolut then transfer to bank account that way?

Do you know how I'd set that up and what the fees would be? (i have a UK PayPal account, just to clarify) 

https://www.revolut.com/a-radically-better-account

sparkles_on_water

I have this same problem and put a post up about it previously. Revolut doesn't work. PayPal insist on converting the money so you lose out. I complain to PayPal nearly every week just to make sure that it costs them as much money dealing with me as it does for me to withdraw my own money. 

ischris85

Why can you not withdraw to a revolut account?

jonesMUFCforever

sparkles_on_water said:

I have this same problem and put a post up about it previously. Revolut doesn't work. PayPal insist on converting the money so you lose out. I'm trying to get a transferwise account and add it to PayPal which may work. Meanwhile, I complain to PayPal nearly every week just to make sure that it costs them as much money dealing with me as it does for me to withdraw my own money. 

Not taking sides here but I would like to add 2 points.
1 If you use Paypal then you have to abide by their rules.
2 If you make yourself such a nuisance that they consider the relationship between you and them is broken they might close your Paypal account.

glider3560

ischris85 said:

Why can you not withdraw to a revolut account?

If you have a UK PayPal account, then PayPal will only pay in GBP to a UK account.  This means PayPal do the conversion at their rate and charges (which are not very favourable, last time I looked).

sparkles_on_water

jonesMUFCforever said:

sparkles_on_water said:

I have this same problem and put a post up about it previously. Revolut doesn't work. PayPal insist on converting the money so you lose out. I'm trying to get a transferwise account and add it to PayPal which may work. Meanwhile, I complain to PayPal nearly every week just to make sure that it costs them as much money dealing with me as it does for me to withdraw my own money. 

Not taking sides here but I would like to add 2 points.
1 If you use Paypal then you have to abide by their rules.
2 If you make yourself such a nuisance that they consider the relationship between you and them is broken they might close your Paypal account.

Um...well I don't choose to use PayPal, I have to because that is how the company pays me. PayPal charges the company to use their service and then they also charge me to withdraw my money. Rules are not always fair on both parties especially when one side has more power than the other. Sometimes it is necessary to be a nuisance, that is the only power you have.