550 Euro to USD

Holding various currencies like Euros or British Pounds in a PayPal Business account allows for accumulating funds and converting them to US dollars upon transfer to a US bank account, leveraging PayPal’s conversion rates. PayPal explicitly states the ability to hold foreign currency balances and manage the conversion process independently.

The question arises: How can one “arrange to convert yourself” and what options are available for managing these foreign currency balances? Detailed information regarding this process remains elusive. Furthermore, while PayPal representatives confirm the possibility of sending Euros directly from a Euro balance to a personal Euro-denominated PayPal account in Europe without incurring fees, the actual execution within the PayPal interface presents a challenge.

The “Send Money” function only offers US dollars as the sending currency, despite holding Euros. This necessitates converting Euros to dollars before sending them as Euros, which seems redundant and costly due to potential exchange rate fluctuations. This raises the question: Why can’t Euros be selected as both the sending and receiving currency when dealing with Euro balances? While PayPal benefits from the currency exchange spread, converting Euros to dollars only to resend them as Euros lacks logical justification.

The central issue revolves around the inability to send Euros directly as Euros from a PayPal account. Is there a specific US law preventing PayPal from facilitating direct Euro transfers? If such a statute exists, providing a citation would clarify the legal constraints surrounding this issue. This legal clarification would help users understand the limitations of managing and transferring Euro balances within the PayPal system.