Best way to withdraw US $ form PayPal account?

glam77 on 30/07/2014 - 12:47

I have bit of money sitting in my paypal account from some recent sales, and it is currently listed as US$.

I am looking to withdraw the funds, which I understand has no withdraw fees except the following:

  • withdrawing in $US to my bank I will incurr and $11 fee + coversion rate

OR

  • converting to $AUD and get hit with paypal shitty conversion rate, but no fee to transfer to my bank account.

Anyone know the best / most effective way to withdraw $US incurring least fees and best conversion rates?

Financial

Related Stores

PayPal
PayPal
Marketplace

Comments

  • stevednj48 on 30/07/2014 - 13:22

    scrap my last comment.

  • glam77 on 30/07/2014 - 13:27

    so regardless of whether I manually covert it first, paypal will do the conversion and deposit the equivalent $AUD amount to my account, so I will get his with their poor conversion rate no matter what I do?
    (as opposed to $US being deopisted to my account and the the bank chargign me…)
    Am I understanding correct?

    • glam77 on 30/07/2014 - 13:28

      ok… so scrap this understanding too?

  • lolmao on 30/07/2014 - 13:40

    Inward transfers to a Citibank Plus account (in any currency) are fee free. Not sure about the exchange rate though. And not sure if PayPal will let you withdraw USD to an Australian bank?

  • darren870 on 30/07/2014 - 15:26

    The conversion rate by paypal isn't to bad. Certainly you would lose less then the $11 fee by your bank. I often send money from AUS to my US bank account with paypal and its cheaper then the $20 fee my bank charges me.

    • glam77 on 30/07/2014 - 20:51
      +1

      I've read PayPal conversion are usually around 2-2.5% worse than the better rates available elsewhere. When ur looking at $1500, it adds up.

  • gevidian on 30/07/2014 - 16:34

    Find someone on OZB who wants the US$ in Paypal and willing to offer you a decent exchange rate to transfer the A$ to your bank account.

    • darren870 on 31/07/2014 - 11:23

      I actually wouldn't mind doing this. I have to transfer money to the US anyways so it would help. Feel free to PM me glam, maybe we can work something out?

  • lolmao on 30/07/2014 - 21:47

    maybe open a US bank account and withdraw to that (find a bank with no international transfer fees). then transfer to your bank here.

  • Hoju on 31/07/2014 - 09:30

    I wouldn't mind some US dollars to put in my us bank account to keep it active. But not anywhere near $1500 of them :(

Login or Join to leave a comment
Login Join