Have you ever experienced transferring your fund to a third party or a friend/business partner through your Paypal or payoneer. Adding to this challenge let’s assume your target or fund receiver is only having an IBAN and no Paypal or Payoneer account. What are some workarounds of this scenario? It seems that there is some confusion regarding linking a US bank account to a PayPal UK or Payoneer account. Here are some key points to consider:
- IBAN Number: The confusion seems to stem from PayPal requesting an IBAN number when adding a US bank account. However, IBAN numbers are primarily used for European bank accounts, and US bank accounts typically do not have IBAN numbers. This discrepancy can cause issues when trying to link a US bank account to a PayPal UK or Payoneer account.
- TransferWise: Some users have reported success in linking their TransferWise US dollar account to their PayPal account. However, there are conflicting reports, with some users stating that PayPal does not accept TransferWise accounts because it is not a physical bank. It seems that PayPal’s policy regarding TransferWise accounts may vary, and it is best to contact PayPal support for clarification.
- Contacting PayPal Support: Several users have mentioned contacting PayPal support to manually add their US bank account. It seems that the success of this method may vary, as some users have reported success while others have been told that it is not possible. It may be worth reaching out to PayPal support and providing the necessary bank details and documentation to see if they can assist in linking the US bank account.
- Fees and Withdrawals: One user mentioned successfully withdrawing funds from their PayPal balance to their TransferWise bank account without any conversion fees. However, it is important to note that PayPal’s fees and policies may vary, so it is recommended to review PayPal’s website or contact their support for specific information on fees and withdrawals.
