Paypal - payment arriving in dollars, to withdraw in pounds?

meryll83

All it takes is faith and trust...
Joined
Nov 23, 2006
I'm thinking of using David's Vacation Rentals to rent some DVC points, and they pay via Paypal.

Can anyone help me with the logistics of this?
I assume the payment arrives in dollars into my account? (or is there a conversion that takes place here?)
If not, then it must convert when I withdraw, if I send it to a UK bank account?

Any advice on the best way to manage this without losing out too much to exchange rates?
 
The amount will arrive as Dollars in your PP account. From there you can convert it to pounds using their currency converter (You will lose out a bit but the exchange rate is favourable at the moment for going from $ to £) and then withdraw it your bank account.
 


Yea when u take money from your eBay account to a bank account, I thought there was some sort of transaction charge.
 
Is that only at a certain amount?
I know when I'm collecting eBay earnings (which are only small amounts and no currency conversion involved) there's no charge to withdraw.
 
There are no withdrawal fees as long as when you accept the payment, you choose to convert it into the currency you hold in PayPal (i.e. UK £££).

The withdrawal fees are only if you are withdrawing a balance in one currency and converting into another at the same time.
 
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Thanks Joh, so convert immediately on arrival of funds (with conversion fee), then withdraw (no fee).
 
Money has arrived - looks like it's gone into a US $ balance "pot" automatically - so do I now have to do a manual transfer within PayPal to UK £ (at a fee) and then withdraw the £ (with no fee)?

Just want to be sure!
 
Like you we have just rented points out through DVR for the first time since buying DVC (will definitely do it again as it was so easy). When I opened the PayPal account I opened both £ and $ accounts. The money went straight into the $ account as expected with the converted £ value also quoted. As I found it difficult to find any way of using the $ I decided to simply transfer the balance to my quoted (UK) bank account. This was transacted at no fee which is what I expected as they will of course make money on the conversion rate.

Hope this helps!
 

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