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Cornishfarmer

Advice on PayPal withdrawal please

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Hoping for some advice.       I’ve been paid to my PayPal account in € but they want £24 more than the standard rate to convert and take out in £.      Anyone know a way around this or anyone here in the U.K. use a € account and we could save on fees?  

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11 minutes ago, Cornishfarmer said:

Hoping for some advice.       I’ve been paid to my PayPal account in € but they want £24 more than the standard rate to convert and take out in £.      Anyone know a way around this or anyone here in the U.K. use a € account and we could save on fees?  

I hope you manage to resolve this- my only suggestion is to spend the Euros- but if they are charging you £24- then it must be a fair bit of cash- so likely not practical.

Sorry I'm no help here.    

PayPal currency conversion fees are ridiculous.

I occasionally buy from eBay sellers based in Europe- A top tip for buying things from eBay sellers in Europe is to do what I have done- I have attached a Monzo debit card to my PayPal account and pay in Euros- Monzo give you almost parity in the conversion and no fees- unlike the exhorbitant fees PayPal charge.  Sorry this is of no help for your problem.

 

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You will have problems getting round this.

The issue with PayPal is the accounts are geographical. If you have a UK Paypal account you cannot attach other than a UK bank account.
You can accept EUR into your PayPal account but to deal with it you either spend them on EUR items or you get ripped off by exchanging them with PayPal.
You need an EUR PayPal which means it is registered in the EU and has an EUR bank account attached.

Then the EUR can be sent to Transferwise etc to be exchanged. Transferwise will not accept transfers from PayPal or at least the last time i looked they would not. The cash comes from an email account not a NAME - banks will accept transfers from an attached PayPal account - they have 'spoken to each other' when the attachment was created by a small amount being moved between the accounts.

If you know someone with an EUR PayPal with an EUR bank account attached who could help you out - you need to have a residence in the EU to have those which is the problem for most UK people b/c they don't.

Edited by sixgun

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