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Old 04.06.2011, 12:17
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which banks allow for paypal money transfer?

So basically, I have a Swiss paypal account and want to transfer the money I have on it onto a bank account so I can cash it, but I found out that it's impossible to do so with postfinance (my only bank account), unless you're a business client. I don't want to spend this money online, I really want to cash it.
My question is, which banks allow for money transfer into their accounts from paypal, and are not too complicated to set up/too expensive. This is because if I don't find any friend with a bank account from the suggested bank to 'host' the transfer for me, I'll have to open one myself. Also, would you know what sort of fee one would pay for the transaction?

Thanks for the help
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Old 04.06.2011, 12:37
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Re: which banks allow for paypal money transfer?

I have a Swiss PP account that is linked to my UBS, no problem at all.

For others: Unfortunately you can't link a US or UK PayPal to a Swiss bank, must be a Swiss PP... little annoying but better than nothing. If you have both a US and a Swiss PayPal you can however move monies between them for lower cost but not for free.
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Old 05.06.2011, 20:08
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Re: which banks allow for paypal money transfer?

I plan on doing this,

I opened a swiss bank acct, and a swiss paypal acct. The fee to transfer from My Bank in Swiss to the US bank is too much, plus the conversion is bad.


My Plan: Top off my Swiss paypal with money frm my Swiss bank acct (No fee). Then pay my US paypal ID (Fee), then when the money enters, transfer it to my US bank acct (No Fee).

I have not made an official transfer from my swiss acct to CH paypal to my us paypal to my bank acct etc.. But I will let you know how it goes,

My goal is to avoid large fees when transferring funds from CH to the US..
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Old 05.06.2011, 22:03
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Re: which banks allow for paypal money transfer?

Paypal to ZKB is no problem...
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Old 21.09.2011, 17:11
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Re: which banks allow for paypal money transfer?

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My goal is to avoid large fees when transferring funds from CH to the US..
Our plan also. Have you had any luck with this? We are in a situation where we will have to transfer money between US and CH and are looking for a more cost-effective way to do this. Bank fees at both ends, conversion costs, etc..
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Old 26.09.2011, 14:46
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Re: which banks allow for paypal money transfer?

Anyone have any luck with this? My wife & I are going to have to transfer money to the U.S. soon to cover obligations we still have there, and we're looking for the least expensive route.
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Old 26.09.2011, 15:48
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Re: which banks allow for paypal money transfer?

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Then pay my US paypal ID (Fee), then when the money enters, transfer it to my US bank acct (No Fee).
You will pay PayPal fees.
When people send me money, PayPal take 5.65% of the funds

When I transfer from PayPal to my bank account, the conversion rates are the worst on the planet

Check it carefully: do a test transfer of say 1000 CHF and see what the exchange rate is. You can do this before confirming the transaction.
Compare with your bank.

Then do a maybe 100 CHF real transaction and compare the fees.
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Old 26.09.2011, 15:53
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Re: which banks allow for paypal money transfer?

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Paypal to ZKB is no problem...
Can you be more specific?

Paypal CH to ZKB?

Paypal CH in CHF to ZKB CHF account?

Paypal USD to ZKB USD account?

EUR, GBP? What scenario is "no problem"?

Thanks.
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Old 26.09.2011, 16:55
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Re: which banks allow for paypal money transfer?

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You will pay PayPal fees.
When people send me money, PayPal take 5.65% of the funds

When I transfer from PayPal to my bank account, the conversion rates are the worst on the planet

Check it carefully: do a test transfer of say 1000 CHF and see what the exchange rate is. You can do this before confirming the transaction.
Compare with your bank.

Then do a maybe 100 CHF real transaction and compare the fees.

Good perspective. I guess the question is, though, is it cheaper than paying the banks' (plural) transaction fees (there are fees at the originating bank and the receiving bank), plus the conversion fees, etc? Also, is Paypal quicker than a standard wire transfer? We transferred money two weeks ago, and it took about 1 week. Thought we were living in the digital age...
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Old 26.09.2011, 18:52
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Re: which banks allow for paypal money transfer?

dont use paypal for large amounts. I had to transfer GBP 400 to UK, and due to RBS being extremely incompetent, I had to use Paypal to transfer the money to avoid my direct debits bounced.

Paypal converted my CHF to USD to GBP, so I ended up losing 10% in total

Doc.
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Old 26.09.2011, 22:34
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Re: which banks allow for paypal money transfer?

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Can you be more specific?

Paypal CH to ZKB?

Paypal CH in CHF to ZKB CHF account?

Paypal USD to ZKB USD account?

EUR, GBP? What scenario is "no problem"?

Thanks.
If you have a paypal account that has money in it, you can instruct paypal to transfer funds, on completion of the bank details, whatever amount you specify, provided you have the funds to cover that transfer.

This is without charge. My paypal account in in US$ and I request a transfer every 6 months or so to my ZKB (Zurich Kantonal Bank) CHF current account. The rate of exchange has always been 'reasonable' and of course ever falling...
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Old 28.12.2012, 20:20
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Re: which banks allow for paypal money transfer?

Hi
I want to transfer euros from my netherlands account to my UBS account in Lausanne.
Should I open a paypal account in netherlands ?
Last time I transferred euros to UBS directly using SEPA transfer, UBS deducted a very heavy fee of around 250 CHF !! So essentially I got an exchange rate of 1.18 v/s 1.20.
Will it be the same if I use paypal for money transfer ?
Please advise.
Thanks in advance
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Old 28.12.2012, 23:52
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Re: which banks allow for paypal money transfer?

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Hi
I want to transfer euros from my netherlands account to my UBS account in Lausanne.
Should I open a paypal account in netherlands ?
Last time I transferred euros to UBS directly using SEPA transfer, UBS deducted a very heavy fee of around 250 CHF !! So essentially I got an exchange rate of 1.18 v/s 1.20.
Will it be the same if I use paypal for money transfer ?
Please advise.
Thanks in advance

I think it is best for you to create a Paypal account in Netherlands as well as in Switzerland. Then, transfer money from Netherlands bank to Netherlands Paypal and send money using Personal option to Switzerland paypal after that you can withdraw in UBS account.

Personal option deducts less fee. Also you can set your Switzerland Paypal in both euros and CHF so that your euro can wait in Swiss Paypal until the exchange rate becomes reasonable (I mean you can monitor the exchange rate and withdraw when rate is high.) Finally, withdraw to UBS in CHF. Seems long process, but is easy and fast.
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Old 29.12.2012, 00:16
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Re: which banks allow for paypal money transfer?

Paypal FX fees will be greater than what a bank will charge you. For me the best FX rate I find at Geneve airport
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Old 29.12.2012, 07:16
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Re: which banks allow for paypal money transfer?

I have been using Credit Suisse with Paypal since 2003 , no any issues , everything is perfect , transfer balance from paypal to my account or top up the money. The higest amount i ever withdrawed was 1000CHF.

But from time to time , more often and bigger amount you have done , more frequent paypal will ask you to provide them with ID or Passport , Tax ID or whatever you can prove that you are not doing money laundry on their payment gateway.
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Old 29.12.2012, 08:13
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Re: which banks allow for paypal money transfer?

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I have been using Credit Suisse with Paypal since 2003 , no any issues , everything is perfect , transfer balance from paypal to my account or top up the money. The higest amount i ever withdrawed was 1000CHF.

But from time to time , more often and bigger amount you have done , more frequent paypal will ask you to provide them with ID or Passport , Tax ID or whatever you can prove that you are not doing money laundry on their payment gateway.

My experience with PayPal: it offers much worse exchange rates than the bank. I only use PayPal to send money to a bank because it is the only option to withdraw PayPal money to cold hard cash

When I compare rates, I often see that PayPal is about 10% worse than the banks own exchange rate.
So if sending 1000 EUR, I loose 100 EUR in bad exchange rates

I have always had much better experience doing this:
Fill out a foreign payment order form at my bank, specifying the payment in the foreign currency (that way I control the exchange rate)
Payment goes through to foreign bank, gets deposited with no fees.
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Old 02.04.2013, 21:36
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Re: which banks allow for paypal money transfer?

Sorry, I hope I'm not hijacking this thread but I have a similar question. I am trying to set up a Swiss PayPal account but my bank account number doesn't seem to work when I try to link it to my bank account. I am with UBS. Can someone let me know how they did it? For the name of bank, I presume "UBS AG" is sufficient? Clearing number would be 206. Then the account number would be 123456.78Z? PayPal doesn't seem to recognise the "." and the "Z" but I have asked my bank and they said that should be the account number. Any help would be much appreciated!
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Old 01.07.2013, 13:54
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Re: which banks allow for paypal money transfer?

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Sorry, I hope I'm not hijacking this thread but I have a similar question. I am trying to set up a Swiss PayPal account but my bank account number doesn't seem to work when I try to link it to my bank account. I am with UBS. Can someone let me know how they did it? For the name of bank, I presume "UBS AG" is sufficient? Clearing number would be 206. Then the account number would be 123456.78Z? PayPal doesn't seem to recognise the "." and the "Z" but I have asked my bank and they said that should be the account number. Any help would be much appreciated!
I have the exact same issue...Won't take my details...

Anyone?!
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Old 02.07.2013, 23:13
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Re: which banks allow for paypal money transfer?

From the previous replies the following banks seem to support it.
  • UBS
  • Credit Suisse (CS)
  • Zürcher Land Bank (ZLB)
  • Zürcher Kantonal Bank (ZKB)

However, the outrageous fees PayPal charges don't make it very attractive.

By the way, have you heard about Bitcoin?

Check out: https://www.weusecoins.com/en/
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Old 04.07.2013, 11:45
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Re: which banks allow for paypal money transfer?

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Sorry, I hope I'm not hijacking this thread but I have a similar question. I am trying to set up a Swiss PayPal account but my bank account number doesn't seem to work when I try to link it to my bank account. I am with UBS. Can someone let me know how they did it? For the name of bank, I presume "UBS AG" is sufficient? Clearing number would be 206. Then the account number would be 123456.78Z? PayPal doesn't seem to recognise the "." and the "Z" but I have asked my bank and they said that should be the account number. Any help would be much appreciated!
I had that problem with a Cantonal bank too. I tried a number of different permutations of the account number, perhaps leaving off digits that didn't matter, and eventually it worked. Unfortunately going to my Paypal account online only shows the name of my bank and the last 4 digits of the account number and after so long I can't remember how I did it. I assume that the dots aren't used.
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