Is it possible to have GBP as the primary currency & then withdraw it into a US bank account directly? (without converting to USD). If not, does anyone know what the currency conversion fees are?
No it's not possible.. well atleast for Canadian Bank Accounts, we have to convert it to the currency to where the bank is located at..
well u have to convert it to your own county currency if you want to use it lol - and 8everything is right - it will convert automatically - no point in trying
The conversion is inevitable but by accepting payments in GBP, you might benefit from the stronger GBP and when it is time to withdraw the funds, you may get a better return. It all depends in the end on exchange rate at the point of withdrawal.
PayPal keeps some percentage of amount converted as I converted 15 GBP into 28.4 USD and when I converted them back, I got just 12.98 GBP?? I guess, they keep 2.5 - 5%
Yes, it is 2.5% foreign exchange fees which is stated in the Fees page. Use it only if you believe that the currency exchange would be favorable to you in the future.
Yes of course, as long as there is a currency exchange, the fees will apply. I guess if they do not support your currency then just keep using the US$
They always support the local currency when you withdraw. PayPal at an average keeps 7.5-10% of our withdrawls...