Hello , I'm using Paypal with GBP currency since my bank account has GBP currency only. But i receive payments from peoples and companies as USD. I lose money when i want to withdraw money everytime cos I have to change USD to GBP for withdraw that money to my bank account. I just looking a way to withdraw my paypal balance without lose any money cos of converting currency.
You are not likely to find anyone who will work for free. Bottom line is that SOMEONE must feed the currency exchangers' kids, and that will ALWAYS be YOU.
So, that means that you do not charge fees. Correct? And you work for your boss without getting paid, too. Correct?
@n0br4n I too have been using Paypal since 2006 & have paid lot as fees as currency conversion charges. When you receive payments , you lose 5% as paypal fee & when you convert it to other currency , then you lost currency conversion charges as well (which is roughly about 2 - 2.5%) , I don't see any way to reduce this. I use Paypal for smaller payments which is less than $500 , so I lose little. For bigger projects , I request the client to send WIRE TRANSFER directly to bank which works out very cheap , as the charges for the transaction will be around $20 - $50 depending on the amount you transfer. So request your clients to send funds to your bank a/c directly. If you find an alternate method to reduce fees in Paypal , feel free to share it with me too. Hope this helps.
Irrespective of whether you use PayPal's own currency conversion or that of your card issuer, some sort of fee will always apply. Refer this (for PayPal India) https://www.paypal.com/in/webapps/mpp/ua/useragreement-full#exhibit_A
You can withdraw money in a specific currency, for instance in USD, if you have a bank account in a country associated with the currency, in case of USD it is the USA. Check out Revolut.com which allows withdrawing money without fees