So I have earned quite some cashback from Cashrewards AU and have cashed in to my PayPal Account.
If I transfer the money from PayPal to my NZ bank, then it will convert from AUD to NZD which is not ideal due to shitty convertion rate on PayPal.
I am also not able to add a aussie bank account in PayPal since my PayPal is a NZ account.
Is there anyway that I can transfer the $AUD (without converting) to my banks, Wise, Revolut etc?
How do i transfer from PayPal to wise?
No idea sorry. But on Wise you can have an AUD bank account number so i assume you could do a bank transfer or similar?
Edit: here’s what google said.
To transfer from PayPal to Wise, link your Wise account as a bank account in your PayPal Wallet, then initiate a withdrawal from your PayPal balance to the linked Wise account. The Wise account provides you with local bank details in various currencies, enabling PayPal to send funds to it as if it were a regular bank account.
The problem is PayPal won't let me link a AUD bank account number
@KiwiHunts4CheapDeals: Oh i see. Yea it doesn’t look like there’s a simple solution without paying paypals conversion fees
@KiwiHunts4CheapDeals: Dunno if this is actually a thing, but could you setup another PayPal account linked to an AU wise account, then shift It to that account and out?
I also haven't worked it out, but if it helps I usually just spend when I'm shopping online not in NZD where PayPal is accepted as a payment method, ie AUD or USD so I'm not pinged twice for conversion.
I've also booked travel ie Trip.com/Booking.com with it given their exchange rates are usually around mid-market but in AUD so I'm not losing out.
Yea have to do that I guess since there is no other ways :(
Just spend the AUD from PayPal as AUD as and when you can (either trip to Aussie, or online at an Aussie store)? You could also consider spending in, say, GBP or EUR or any other currency than NZD, but then you'd be getting the crappy PayPal conversion rate again, so no real gain there.
Wise et al are not going to help in this situation because, as you said in your OP, you can't add an Aussie bank account number to your NZ PayPal account so that's a complete non-starter.
Another option would be to transfer it to the PayPal account of someone you know who needs AUD (or maybe someone you know in Aus), and they pay you back in NZD (or, I guess, any other currency, even crypto if you wanted) that you are likely to be able to use in the foreseeable future). That way you can both get a great conversion rate (just use the mid rate at the time), but you do have to be able to trust the other party of course.
How do i spend the AUD physically when I'm in aussie thou? PayPal does not have a card, so I'm limited to online merchant who accepts PayPal only. I really want to use it on card when I'm in aussie.
How do i spend the AUD physically when I'm in aussie thou? PayPal does not have a card, so I'm limited to online merchant who accepts PayPal only.
You'd have to find a retailer that was accepting PayPal - many do, but it will be hit and miss.
Its going to be places that also have an online presence. I don't recall anywhere accepting PayPal that didn't also sell online, but I guess not impossible.
If you look, some places have a sticker (or a load of them) that shows what they accept, and PayPal is sometimes there, along with weird ones I have never heard of, but are probably foreign providers.
I really want to use it on card when I'm in aussie.
That pretty much rules out that option then.
You are then left with paying PayPal's horrendous conversion fees, or finding someone else to swap your AUD for NZD (or whatever) with.
You could buy gift cards online from a seller that accepts Paypal, such as [url=https://www.prezzee.com.au/]Prezzee[/url], and use those in-store..
Ahhh that's one way! Thanks for that!
You could buy gift cards online from a seller that accepts Paypal, such as [url=https://www.prezzee.com.au/]Prezzee[/url], and use those in-store..
That could be a winning idea :-)
I keep all other currencies in PayPal so when I do online shopping via oversea website I can pay without converting to NZD. Unless you really need that money in your bank right now.
Transfer it to Wise and then convert to NZD on there (or keep it in AUD)