We are outside the US and can't use Stripe for our business. Using PayPal, we have thousands of USD in the balance.

I need to take large amount of money from my PayPal and move it to a bank account outside of my country to a different country of my partner in Asia. Can't add her bank account to PayPal - only mine.


Moving it to my bank account in my country, pay PayPal 2.5% exchange fees, then pay tax in my country ( which is 0 in the final destination of my partner), then move it from my bank to her and pay another fees to my bank, wait 8-12 days for everything, and cut A LOT of money for no reason.

OPTION 2 - TransferWise

Linking transferWise to my PayPal as a US bank was hard and involved calling them to confirm. Then sent a few test $$ from PayPal to TW. Obviously it didn't arrive after 3 days.

Turns out, if PayPal don't use ACH, and you enter the Wire Routing Numberfrom TW, the name of the bank holder in PayPal will be different from TW (which adds TransferWise FBO to your name), hence transaction will be blocked because of different names.

According to TransferWise, if PayPal is using ACH, we will be able to send the money even if the bank holder name is different.

Trying to check if PayPal is using ACH ( can't find an answer to that). If they do, then I must create a new bank account and this time enter the TCH Wire Routing Number from TW, and not the Wire Routing Number

Hard to understand what is going on there. Some PayPal officers says its not possible to use virtual account, others says it is totally ok.

Let's forget the other bad things about their service ( blocking our accounts for no reason, huge exchange fees, holds, etc ).

What are our options ? did anyone try TW with PayPal ?

  • For your obvious option, why do you have to pay tax in your country? Wouldn't it be a business account with an equal deposit and withdrawal (maybe considered income=expense) to offset? – TTT Mar 7 at 16:58

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