USD Bank Accounts for Debit Card and PayPal Transfers

Computer Nerd Kev

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Jan 25, 2024, 2:35:42 AM1/25/24

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I get some payments in USD in PayPal. Often I need to buy from
online stores that use USD but only accept credit/debit card, not
PayPal. So rather than paying AUD-USD currency conversion fees, it
would be good to transfer the USD balance off PayPal into a USD bank
account with a debit card usable for online purchases.

Does anyone know good options for this in Australia? The only card
I've got that takes foreign currency is my Australia Post Prepaid
Mastercard, but PayPal won't transfer money onto it, and many
online stores reject that card for some reason.

CBA, NAB, and Westpac have foreign currency accounts but they don't
come with a card, so they're no good for online purchases.

HSBC offer a "Global" Visa debit card, so that looks interesting.
Will I be able to transfer money onto it in USD directly from
PayPal though?
https://www.hsbc.com.au/accounts/products/everyday-global/

There's also Wise, but it seems they're not Visa or Mastercard
associated, so I assume they're not as widely accepted by online
stores?
https://wise.com/au/card/

I'd like to avoid ending up with another card like the Aus Post one
where I have to keep a list of websites that do/don't work with it,
so notes on personal experience would be welcome.

--
__ __
#_ < |\| |< _# | Note: I won't see posts made from Google Groups |

Rod Speed

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Jan 25, 2024, 11:58:11 AM1/25/24

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Computer Nerd Kev <n...@telling.you.invalid> wrote

> I get some payments in USD in PayPal. Often I need to buy from
> online stores that use USD but only accept credit/debit card, not
> PayPal. So rather than paying AUD-USD currency conversion fees, it
> would be good to transfer the USD balance off PayPal into a USD bank
> account with a debit card usable for online purchases.
>
> Does anyone know good options for this in Australia? The only card
> I've got that takes foreign currency is my Australia Post Prepaid
> Mastercard, but PayPal won't transfer money onto it, and many
> online stores reject that card for some reason.
>
> CBA, NAB, and Westpac have foreign currency accounts but they don't
> come with a card, so they're no good for online purchases.
>
> HSBC offer a "Global" Visa debit card, so that looks interesting.
> Will I be able to transfer money onto it in USD directly from
> PayPal though?

You dont need to transfer it directly from paypal, just move
it from paypal to anywhere paypal will move it to and them
to the HSBC account that has the card.

Computer Nerd Kev

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Jan 25, 2024, 3:50:53 PM1/25/24

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Rod Speed <rod.sp...@gmail.com> wrote:
> Computer Nerd Kev <n...@telling.you.invalid> wrote
>
>> I get some payments in USD in PayPal. Often I need to buy from
>> online stores that use USD but only accept credit/debit card, not
>> PayPal. So rather than paying AUD-USD currency conversion fees, it
>> would be good to transfer the USD balance off PayPal into a USD bank
>> account with a debit card usable for online purchases.
>>
>> Does anyone know good options for this in Australia? The only card
>> I've got that takes foreign currency is my Australia Post Prepaid
>> Mastercard, but PayPal won't transfer money onto it, and many
>> online stores reject that card for some reason.
>>
>> CBA, NAB, and Westpac have foreign currency accounts but they don't
>> come with a card, so they're no good for online purchases.
>>
>> HSBC offer a "Global" Visa debit card, so that looks interesting.
>> Will I be able to transfer money onto it in USD directly from
>> PayPal though?
>
> You dont need to transfer it directly from paypal, just move
> it from paypal to anywhere paypal will move it to and them
> to the HSBC account that has the card.

Like I say, my other accounts don't accept USD (except the Aus Post
card that PayPal won't put money on) so then I'd need PayPal to
convert to AUD to put it in an AUD account, then I'd convert the
AUD back to USD to go into the HSBC account. So I'd be paying about
the same currency conversion fees as just paying in USD from an AUD
account after transferring the money from PayPal in AUD. If I could
do it all in USD, then I'd avoid both those conversion fees (indeed
there should be no fees at all with the HSBC account if it supports
"eCheque" transfer from PayPal).

Rod Speed

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Jan 25, 2024, 3:58:15 PM1/25/24

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Computer Nerd Kev <n...@telling.you.invalid> wrote
> Rod Speed <rod.sp...@gmail.com> wrote:
>> Computer Nerd Kev <n...@telling.you.invalid> wrote

>>> I get some payments in USD in PayPal. Often I need to buy from
>>> online stores that use USD but only accept credit/debit card, not
>>> PayPal. So rather than paying AUD-USD currency conversion fees, it
>>> would be good to transfer the USD balance off PayPal into a USD bank
>>> account with a debit card usable for online purchases.
>>>
>>> Does anyone know good options for this in Australia? The only card
>>> I've got that takes foreign currency is my Australia Post Prepaid
>>> Mastercard, but PayPal won't transfer money onto it, and many
>>> online stores reject that card for some reason.
>>>
>>> CBA, NAB, and Westpac have foreign currency accounts but they don't
>>> come with a card, so they're no good for online purchases.
>>>
>>> HSBC offer a "Global" Visa debit card, so that looks interesting.
>>> Will I be able to transfer money onto it in USD directly from
>>> PayPal though?
>>
>> You dont need to transfer it directly from paypal, just move
>> it from paypal to anywhere paypal will move it to and them
>> to the HSBC account that has the card.

> Like I say, my other accounts don't accept USD (except the AusPost card
> that PayPal won't put money on) so then I'd needPayPal to convert to
> AUD to put it in an AUD account, then I'dconvert the AUD back to USD to

> go into the HSBC account.

Nope, you can open a USD account with any bank that
offers those, list that with paypal and have paypal transfer
the USDs to that account and then move it from there to
the HSBC account which has a card on it.

Peter Jason

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Jan 25, 2024, 4:55:54 PM1/25/24

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On 25 Jan 2024 17:35:32 +1000, Computer Nerd Kev

<n...@telling.you.invalid> wrote:

>I get some payments in USD in PayPal. Often I need to buy from
>online stores that use USD but only accept credit/debit card, not
>PayPal. So rather than paying AUD-USD currency conversion fees, it
>would be good to transfer the USD balance off PayPal into a USD bank
>account with a debit card usable for online purchases.
>

The reserve bank might facilitate direct transfers to any bank in the
world and so bypass all the credit-card sharks.
And give the round-table gaggle of the present arrangement.

I'll bet the Govt regrets flogging off the Commonwealth bank.

Computer Nerd Kev

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Jan 25, 2024, 5:05:14 PM1/25/24

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Rod Speed <rod.sp...@gmail.com> wrote:
> Computer Nerd Kev <n...@telling.you.invalid> wrote
>> Rod Speed <rod.sp...@gmail.com> wrote:
>>> Computer Nerd Kev <n...@telling.you.invalid> wrote
>
>>>> I get some payments in USD in PayPal. Often I need to buy from
>>>> online stores that use USD but only accept credit/debit card, not
>>>> PayPal. So rather than paying AUD-USD currency conversion fees, it
>>>> would be good to transfer the USD balance off PayPal into a USD bank
>>>> account with a debit card usable for online purchases.
>>>>
>>>> Does anyone know good options for this in Australia? The only card
>>>> I've got that takes foreign currency is my Australia Post Prepaid
>>>> Mastercard, but PayPal won't transfer money onto it, and many
>>>> online stores reject that card for some reason.
>>>>
>>>> CBA, NAB, and Westpac have foreign currency accounts but they don't
>>>> come with a card, so they're no good for online purchases.
>>>>
>>>> HSBC offer a "Global" Visa debit card, so that looks interesting.
>>>> Will I be able to transfer money onto it in USD directly from
>>>> PayPal though?
>>>
>>> You dont need to transfer it directly from paypal, just move
>>> it from paypal to anywhere paypal will move it to and them
>>> to the HSBC account that has the card.
>
>> Like I say, my other accounts don't accept USD (except the AusPost card

>> that PayPal won't put money on) so then I'd need PayPal to convert to

>> AUD to put it in an AUD account, then I'dconvert the AUD back to USD to
>> go into the HSBC account.
>
> Nope, you can open a USD account with any bank that
> offers those, list that with paypal and have paypal transfer
> the USDs to that account and then move it from there to
> the HSBC account which has a card on it.

Well yes, that's an option. It seems those others often have
relatively high fixed transaction fees though, unlike the HSBC and
Wise accounts/cards. So then it would only be worthwhile for big
transactions, plus more effort to set up and manage.

The difference for whether I can transfer money out of PayPal seems
to be whether a bank is offering a full bank account or just a
card, so I might be able to work out what to ask HSBC in advance if
I can pin down exactly how to describe that detail.

Rod Speed

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Jan 25, 2024, 5:41:28 PM1/25/24

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> Well yes, that's an option. It seems those others oftenhave relatively

> high fixed transaction fees though,

Never found that and I do have a lot of bank accounts.

> unlike the HSBC and Wise accounts/cards.

> So then it would only be worthwhile for big transactions,plus more

> effort to set up and manage.

HSBC can be a complete pain the in arse to deal with.

> The difference for whether I can transfer money out of PayPalseems to
> be whether a bank is offering a full bank account orjust a card, so I
> might be able to work out what to ask HSBCin advance if I can pin down

Computer Nerd Kev

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Jan 25, 2024, 9:06:04 PM1/25/24

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The foreign currency accounts seem different, although it seems
that none of the outgoing transfer fees apply for online transfers.

Fees for receiving foreign money to foreign currency accounts:
CBA: "Up to $11"
Westpac: $12 for receiving the equivalent of $100 AUD or more,
otherwise free
NAB: "Up to $15"
St George: $12

The "up to" fees make it a bit hard to pick, but yeah I think they
all have to be cheaper than the AUD conversion fees I'm paying for
most of the USD purchases I make. But can I transfer from them to
the HSBC card in USD to use their Visa card for online purchases?
I can't do a bank transfer onto the Aus Post card in USD, it only
accepts AUD and they do the conversion themselves (at their
conversion rate which includes a fee). I'm starting to suspect that
the HSBC and Wise cards might be the same.

>> unlike the HSBC and Wise accounts/cards.
>
>> So then it would only be worthwhile for big transactions,plus more
>> effort to set up and manage.
>
> HSBC can be a complete pain the in arse to deal with.

Noted.

Rod Speed

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Jan 25, 2024, 10:06:04 PM1/25/24

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And that's what matters in your case.

> Fees for receiving foreign money to foreign currency accounts:
> CBA: "Up to $11"
> Westpac: $12 for receiving the equivalent of $100 AUD or more,
> otherwise free

So this would be fine for you.

> NAB: "Up to $15"
> St George: $12

> The "up to" fees make it a bit hard to pick,

Maybe thats what the NAB and CBA mean, free for lower amounts.
No reason why you can't do your transfers from PayPal in small
enough amounts of that is always free unless you recieve lots of USDs.

> but yeah I think they
> all have to be cheaper than the AUD conversion fees I'm paying for
> most of the USD purchases I make. But can I transfer from them to
> the HSBC card in USD to use their Visa card for online purchases?

Can't see why not.

> I can't do a bank transfer onto the Aus Post card in USD, it only
> accepts AUD and they do the conversion themselves (at their

> conversion rate which includes a fee). I'm starting to suspectthat the

> HSBC and Wise cards might be the same.

Can't see why it should be with the HSBC card.

Rod Speed

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Jan 25, 2024, 10:15:19 PM1/25/24

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On Fri, 26 Jan 2024 14:05:57 +1100, Rod Speed <rod.sp...@gmail.com>

https://www.worldremit.com/en/blog/life-abroad/open-us-bank-account

Rod Speed

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Jan 25, 2024, 10:16:43 PM1/25/24

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On Fri, 26 Jan 2024 14:15:13 +1100, Rod Speed <rod.sp...@gmail.com>

https://wise.com/us/blog/open-a-us-bank-account-non-resident

Computer Nerd Kev

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Jan 26, 2024, 5:46:09 PM1/26/24

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Yes it seems that's OK, their personal banking booklet says on pg.
29 that for non-AUD payments into the Everyday Global account
"Transactions can be settled in the same foreign currency", for
supported currencies.

But I followed up the references I read to transferring USD out of
non-US PayPal accounts and it's not quite as simple as I thought.
The PayPal user agreement actually says you can transfer US Dollars
to a US bank account. So the foreign currency accounts won't work
because they're still Australian accounts. I'd need an actual bank
account in the USA.

I saw the links you posted about how to get one of those, but since
I haven't got any connection or travel plans to the USA, it looks
pretty tricky opening a US bank account from Aus.

On the Wise page:
"Can you open a US bank account from overseas??

It is possible in theory to set up a US bank account online from
abroad -- but in practice it's usually hard to find a traditional
bank which will let foreigners get full access to an account online.

That may mean you can start your application remotely, but need to
attend a branch to get verified, for example." ...
https://wise.com/us/blog/open-a-us-bank-account-non-resident

Also I see now that PayPal charge a 3% fee for Australian USD
transfers to a US bank, which is about the same fee that I get
charged for converted USD payments out of the AUD bank account I
use for that at the moment, although I would at least avoid the
currency conversion fees from PayPal and the debit card company.
https://www.paypal.com/au/legalhub/useragreement-full

Overall it looks like more work and less benefit than I
anticipated, so I think I'll give up there, but at least now I
know.

Rod Speed

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Jan 26, 2024, 6:33:38 PM1/26/24

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But it does say that some of the big international US banks do
allow it. But they arent that interested in small personal accounts.

> Also I see now that PayPal charge a 3% fee for Australian USD
> transfers to a US bank, which is about the same fee that I get
> charged for converted USD payments out of the AUD bank account I
> use for that at the moment, although I would at least avoid the
> currency conversion fees from PayPal and the debit card company.
> https://www.paypal.com/au/legalhub/useragreement-full
>
> Overall it looks like more work and less benefit than I
> anticipated, so I think I'll give up there, but at least now I
> know.
>

Thanks for the washup.

Petzl

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Jan 26, 2024, 7:15:59 PM1/26/24

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On 27 Jan 2024 08:45:53 +1000, n...@telling.you.invalid (Computer Nerd

Maybe this is what you want?
<https://www.paypal.com/us/digital-wallet/send-receive-money/request-money#:~:text=To%20accept%20the%20money%2C%20you,know%20you%20have%20money%20available.>
or https://t.ly/TaP5u
Request and receive money
Request. Receive. Rejoice.
Need a friend to pay you back? Collecting rent from the roomies?
Settle up with PayPal. Your money goes right to your account. It can
be ready when you need it.1
--
Petzl
Good lawyers know the law
Great lawyers know the judge

justice is open to all; like the Ritz hotel
High Court reveals every current judge is a
member of Qantas’ ‘most exclusive club in Australia’
The High Court has exposed secret members of Qantas’
exclusive Chairman’s Lounge amid a landmark case over
the sacking of 1700 workers.

Rod Speed

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Jan 26, 2024, 7:29:45 PM1/26/24

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Petzl <pet...@gmail.com> wrote

That won't do what he wants to do.

He has USDs in his paypal account and want to spend
some of it on purchases which won't accept paypal.

Petzl

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Jan 27, 2024, 1:04:39 AM1/27/24

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Not sure he would have to ask if yhey would pay money in this account
to hus BSB number?

Petzl

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Jan 27, 2024, 1:11:28 AM1/27/24

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On Sat, 27 Jan 2024 11:29:38 +1100, "Rod Speed"
<rod.sp...@gmail.com> wrote:

From above link it says you can transfer money to your bank account
<https://www.paypal.com/us/digital-wallet/send-receive-money/request-money#:~:text=To%20accept%20the%20money%2C%20you,know%20you%20have%20money%20available>
or https://t.ly/8LpvL
Scroll down to
"Can I transfer the money I receive in my account with PayPal?
Yes, you can access the money you receive on your account with PayPal,
and you can then choose to:"

Transfer it to your bank account, or
Keep it in your balance to send money to friends and family or to shop
online

Rod Speed

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Jan 27, 2024, 3:28:00 AM1/27/24

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> Not sure he would have to ask if yhey would paymoney in this account to
> hus BSB number?

He sells things using paypal.

Rod Speed

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Jan 27, 2024, 3:31:47 AM1/27/24

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Petzl <pet...@gmail.com> wrote

But he wants to use it to a usd account and that means
he either need an account with a US bank or to an
autralian bank which has foreign currency accounts
with a debit card that he can spend the USDs with,

keithr0

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Jan 28, 2024, 2:30:36 AM1/28/24

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On 26/01/2024 1:16 pm, Rod Speed wrote:
> On Fri, 26 Jan 2024 14:15:13 +1100, Rod Speed <rod.sp...@gmail.com>
> wrote:

> https://wise.com/us/blog/open-a-us-bank-account-non-resident

I had a Bank of America account, but stupidly I let it lapse. I didn't
have any problem opening it, but I do have a social security number.

Petzl

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Jan 28, 2024, 2:58:58 PM1/28/24

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On Sun, 28 Jan 2024 17:30:34 +1000, keithr0 <us...@account.invalid>
wrote:

I often buy US products using paypal and sometime it is coverted by
PayPal to Australian. But I ony buy do not sell
--
Petzl
TRUMP ISN'T RUNNING AGAINST BIDEN HE'S RUNNING AGAINST THE CLINTON'S,
BUSH'S, HAMA'S ABC, CBS, NBC, FOX, CNN, MSN, NPR, MURDOCH'S, SOROS,
ETC

Computer Nerd Kev

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Jan 28, 2024, 4:33:30 PM1/28/24

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I've never even been there myself, so it looks like it would be a
bit of a mountain to climb.