eToro withdrawal doubts

JacobEdgar

Hello, after ages of having some money in Etoro (about 900 usd) I have grown tired of it and I want to withdraw the money and try to pay as little withdrawal fees as possible. If I remember ok I deposited the money with PayPal, but I am not sure if I was asked to fund through debit card once.

Question is that eToro won't tell me if it will send to PayPal or to my bank account directly, if it is sent to my bank account in Euros I will lose a lot in bad conversion ratio, as this money was invested from an European bank account (I lived in europe back at the time).

I thought I might be able to use the eToro Money new service, to withdraw there, and then send to my PayPal and there I will convert when best suits my interests. Is that possible? I have searched a lot and I cannot get a clear answer. Thanks in advance.

Scottex99

I have the eToro money app which seems to work as an IBAN in your own name.

I’m holding positions in some stocks and crypto on the main eToro platform. The last time I tested a small sell and withdrawal, it converts the USD to GBP (probably not a great rate) and charges $5 withdrawal to credit the money app account, from there I sent a transfer to my UK bank.

I’m not sure if you could just skip the money app part and go direct to PayPal though…

Could be worth doing a couple of small tests to check the process?

Cheers 

JacobEdgar

Thanks for the reply, I just tried withdrawing through eToro website, and asks for IBAN number etc, no PayPal option.

Is there an option to send to PayPal in the money app anywhere?

In the FAQ it says you should be able to withdraw to PayPal, but I can't see it.