Use your SGD or USD account details to withdraw from PayPal, and whenever you need to switch to a different currency you’ll get the mid-market exchange rate with lower overall costs compared to both your normal bank or PayPal. You can open a Wise account online or in the Wise app, to hold 50+ currencies, and get local bank account details for 9 currencies. Keep more of your money for yourself - and cut out high currency conversion fees - by sending your money to a Wise multi-currency account instead ( Wise review. However, because PayPal charges a relatively high fee for currency conversion, this can mean you lose out. You might think that switching the payment from USD to SGD in your PayPal account would be the obvious option, so you can then withdraw your money to your local bank account here. It lands in your PayPal account safely - but how do you get your hands on the money to spend here in Singapore? Let’s say you’ve been sent a payment to your PayPal account by a friend in the US. Receive in up to 10 currencies Learn more Why sending money from Paypal to Wise can save you money That’s where a currency specialist like Wise might be able to help, providing lower overall costs and a better exchange rate, whether you’re withdrawing a foreign currency, or looking to send your SGD PayPal balance to someone overseas. While PayPal offers convenient, fast payment services, the charges involved when converting between currencies can be on the high side. If you’ve got a foreign currency balance in your PayPal account you’re probably wondering how to get your money deposited into your regular bank account for spending.
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