PayPal and USD Balance Transfers

[ScottP]

Hey,

PayPal have persistently been refusing my US Bank Details because they can only accept bank information from an official US Bank and not via a third party who brands on top of a US Bank who can offer better currency exchange services. I am unsure the grounds they can use to refuse valid US banking information though? To me, it seems like an excuse to continually bolt me up on their 2.5% exchange fees on top of their credit card processing fees, where-as the US bank I have charge me no where near that amount.

Has anyone else faced issues with handling USD transfers with PayPal?

Thanks,

 

[DontAsk]

Sorry can't help directly.

The US banking system is still in the dark ages. A customer of mine in the US is still trying, after 6 months, to get his bank to make an electronic payment to my Transferwise $ account. They sent a cheque the first time!

 

[jmann]

This is possible but you need to phone PayPal to add the account. What I did was open a Transferwise borderless account and added that account to my PayPal account.

When you phone PayPal, do not mention Transferwise since some of their customer support staff will not add the account for you. If they ask for bank's name, mention it as 'Community Federal Savings Bank'. If they refuse to add it, hang up and try again. I had to phone them 3 times to get the account added. I have made several 4 figure withdrawal without any problem.