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  #1  
Old 02-22-2017
Z19 Z19 is offline
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Default Withdrawal to cc in Malta need advice

Hello everyone.

Funds which I get from EBay are in USD.
I have possibility to order credit card issued by Maltese bank, it could be in USD or EUR .. If I get USD card and will withdrawal USD from PP .. there wouldn't be any conversion .. or will be double conversion like USD - EUR - USD ?

Please advice.
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  #2  
Old 02-22-2017
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Default Re: Withdrawal to cc in Malta need advice

Which counties PayPal is this?

Most PayPal accounts as far as I know make withdrawals in their native country and which means you would get a double conversion fee. It's possible some counties are an exception though I have not explored all the counties PayPal accounts in enough detail to know off hand
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Old 02-22-2017
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Default Re: Withdrawal to cc in Malta need advice

It depends on what currency PayPal detect the card as being, which they appear to do based on the bank card number.

Your card might be actually USD but if PayPal detect it as being EUR (the most likely thing to happen, since it's a Maltese bank), all your USD withdrawals will be converted to EUR at the time of withdrawal, so that will incur 2 conversions; one at withdrawl time from USD to EUR by PayPal, and the other when your bank converts from EUR to USD.

The Euro card would only have the funds exchanged on receipt by the bank, by the bank itself.

In such a case, you would be better off with the EUR card, since I assume the card's exchange rate is going to be better than paypal's awful one.

Last edited by parsierngue; 02-22-2017 at 11:21 AM.
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Old 02-22-2017
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Default Re: Withdrawal to cc in Malta need advice

withdrawal in the Iceland in USD, but fee $5.00
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Old 02-22-2017
Z19 Z19 is offline
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Default Re: Withdrawal to cc in Malta need advice

Quote:
Originally Posted by JamesNorth101 View Post
Which counties PayPal is this?

Most PayPal accounts as far as I know make withdrawals in their native country and which means you would get a double conversion fee. It's possible some counties are an exception though I have not explored all the counties PayPal accounts in enough detail to know off hand
Card would be issued by SATA bank Malta . Am I will be available to make only Maltese PayPal with it or I can choose from other countries of EU?

In this article https://jeangalea.com/changing-paypa...awal-currency/

I got info that I could manually request from PayPal to send me funds in USD to have conversion on my bank side instead of PP killing exchange rates, however this info is from 2014 and it is 2017 now .. So I wonder is this still possible?
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Old 02-23-2017
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Default Re: Withdrawal to cc in Malta need advice

So you ignored my post then, huh.

You can withdraw from any country in which PayPal allows card withdrawals, that doesn't matter; it doesn't have to be the same counry as the card.

PayPal don't allow you to choose which currency you will to send to your card... they determine the card's currency themselves based of the card's 16 digit number, so whatever they choose, you will receive on your card, and if it's different from the card's actual currency, the bank will have to convert it again (double conversion).

The workaround described in that link doesn't seem reliable judging by the comments, and getting Paypal to even attempt it is a challenge.

Once again, stick with the EUR card. PayPal will detect any Malta issued card as being EUR even if that's not the case, and this way you avoid any stupid double conversion fees.

Last edited by parsierngue; 02-23-2017 at 01:53 AM.
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Old 02-23-2017
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Default Re: Withdrawal to cc in Malta need advice

Quote:
Originally Posted by JamesNorth101 View Post
Most PayPal accounts as far as I know make withdrawals in their native country and which means you would get a double conversion fee. It's possible some counties are an exception though I have not explored all the counties PayPal accounts in enough detail to know off hand
This applies only for withdrawal to a bank account.

For card withdrawals, PayPal do it based on the native currency of the card's issuing country. Malta cards will get withdrawals in EUR regardless of currency, Israel cards get it in ILS and so on.

Last edited by parsierngue; 02-23-2017 at 01:33 AM.
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Old 02-23-2017
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Default Re: Withdrawal to cc in Malta need advice

Quote:
For card withdrawals, PayPal do it based on the native currency of the card's issuing country. Malta cards will get withdrawals in EUR regardless of currency, Israel cards get it in ILS and so on.
Wrong. You choose the currency when you withdraw. If you have several currencies set up in PP, each of them can be withdrawn without conversion, and will be sent "AS IS" to the card to avoid excessive forex fees.
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Old 02-23-2017
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Default Re: Withdrawal to cc in Malta need advice

That's not what happens with me. My funds always get converted to EUR by PayPal, even if it's a GBP card, just because the issuing country uses EUR. They tell me they are going to send it in EUR and give no option to change it.

Last edited by parsierngue; 02-23-2017 at 01:57 AM.
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Old 02-23-2017
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Default Re: Withdrawal to cc in Malta need advice

Quote:
Originally Posted by parsierngue View Post
So you ignored my post then, huh.

You can withdraw from any country in which PayPal allows card withdrawals, that doesn't matter; it doesn't have to be the same counry as the card.

PayPal don't allow you to choose which currency you will to send to your card... they determine the card's currency themselves based of the card's 16 digit number, so whatever they choose, you will receive on your card, and if it's different from the card's actual currency, the bank will have to convert it again (double conversion).

The workaround described in that link doesn't seem reliable judging by the comments, and getting Paypal to even attempt it is a challenge.

Once again, stick with the EUR card. PayPal will detect any Malta issued card as being EUR even if that's not the case, and this way you avoid any stupid double conversion fees.
With this Maltese CC I can verify and then withdrawal funds from any EU country or to any country which support card withdrawals?
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Old 02-23-2017
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Default Re: Withdrawal to cc in Malta need advice

Quote:
Originally Posted by muzzie View Post
Wrong. You choose the currency when you withdraw. If you have several currencies set up in PP, each of them can be withdrawn without conversion, and will be sent "AS IS" to the card to avoid excessive forex fees.
Muzzie is right! I just call to PP with my question they redirect me to support in EU and they confirmed that I can ask them to send USD to my USD card and they will do as I ask.
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Old 02-23-2017
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Default Re: Withdrawal to cc in Malta need advice

That's what you would think, but try it for yourself if you don't believe me. I wouldn't make such a post just for the fun of it... in fact the link that you posted earlier even backs up what I said; the whole point of it was that PayPal would automatically send all withdrawals to the guy's card in EUR, even though his funds were in USD, just because they could see that his card came from Malta. Which is exactly what I wrote about.

PayPal staff don't even know how their own system works.

Last edited by parsierngue; 02-23-2017 at 11:23 AM.
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Default Re: Withdrawal to cc in Malta need advice

Quote:
Originally Posted by Z19 View Post
With this Maltese CC I can verify and then withdrawal funds from any EU country or to any country which support card withdrawals?
I would stick to your actual country if possible.

Since this is a Maltese card, I assume you are from Malta? If that is the case then I would just stick to a Maltese PayPal to keep it simple. There wouldn't be any benefit to having an account in a different country.

Last edited by parsierngue; 02-23-2017 at 11:39 AM.
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Old 02-25-2017
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Default Re: Withdrawal to cc in Malta need advice

so as a result is it possible to withdraw without paypal convert with a call?
i also have same problem.
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