Transferring money directly from PayPal to a Pyypl (Pay Your People) account can be complex due to PayPal’s restrictions on direct transfers to digital wallet apps like Pyypl. However, with some workarounds, you can successfully move your funds from PayPal to Pyypl by following a few key steps. This guide will walk you through the process, including an option to use a USD bank account and linking a Visa card as an intermediary for easier transfers.
Overview of the Process
Since PayPal doesn’t allow direct transfers to Pyypl, the transfer process generally requires the use of an intermediary bank or card. This article will outline:
- Using a QNB (Qatar National Bank) USD account and linked Visa card as a bridge between PayPal and Pyypl.
- Important notes to reduce currency conversion fees and ensure a smooth transfer.
Step 1: Open a QNB USD Bank Account (or a Similar Account)
If you do not already have a QNB bank account, start by opening one with a USD currency option. QNB offers an account with a USD Visa card, which can simplify transactions from PayPal to your bank account.
- Visit a QNB Branch: Go to a QNB branch and request to open a USD account.
- Request a USD Visa Card: QNB offers a Visa debit card for USD accounts for an annual fee (around $15).
- This card can be linked to PayPal, which allows PayPal to send funds directly to your bank account in USD, bypassing certain conversion fees.
- Ensure Your Account is Verified: Follow any additional steps QNB may require to verify your account and activate your Visa card.
Step 2: Link Your QNB USD Visa Card to PayPal
Once your QNB USD account and Visa card are set up, the next step is to link this Visa card to your PayPal account.
- Log in to PayPal: Go to PayPal.com or open the PayPal app.
- Go to Wallet: Click on “Wallet” in the main menu.
- Link a New Card: Select “Link a Card” and enter your QNB Visa card details (card number, expiration date, and CVV code).
- Set Currency to USD: Contact PayPal support and request them to set your withdrawal currency to USD. This is essential to avoid unnecessary currency conversion fees, as PayPal will send your funds in USD, which your QNB account will accept without further conversion.
- Verify the Card: PayPal may ask you to verify the card by temporarily charging a small amount. Once verification is complete, PayPal will automatically refund this amount to your account.
Step 3: Transfer Money from PayPal to Your QNB USD Account
With your QNB Visa card linked to PayPal, you can now transfer money from your PayPal account to your bank account without conversion fees.
- Initiate the Transfer: In your PayPal account, select the option to withdraw funds.
- Choose QNB Visa Card: When asked where to send the funds, select your linked QNB USD Visa card.
- Confirm the Transfer: Enter the amount you wish to transfer and confirm the transaction. PayPal typically takes 1-3 business days to process withdrawals to linked bank accounts or cards.
Step 4: Withdraw Funds from Your QNB Account to Pyypl
After your funds are in your QNB account, the final step is to move the money into your Pyypl account.
- Log in to Your Pyypl App: Open the Pyypl app on your mobile device.
- Top Up Pyypl Using Bank Card: Select the option to add funds, and choose “Top up with bank card.”
- Enter Your QNB Visa Card Details: Use your QNB Visa card information to add funds to your Pyypl account.
- Complete the Top-Up: Enter the amount you want to transfer from QNB to Pyypl and confirm the transaction.
Alternative Option: Using Payoneer as an Intermediary
If you don’t have a QNB USD account, another workaround is to use Payoneer. However, this option has additional fees and may not be available in all regions.
- Set Up a Payoneer Account: Open a Payoneer account and link it to your PayPal. Transfer funds from PayPal to Payoneer (fees apply).
- Convert USD to EUR: In Payoneer, you may convert your USD to EUR or another currency to reduce fees if you plan to trade or buy USDT on Binance before sending to Pyypl.
- Buy USDT on Binance with EUR: Use your converted currency to purchase USDT on Binance, then transfer the cryptocurrency to Pyypl if they support it.
Note: This method incurs multiple fees, including PayPal withdrawal fees, Payoneer currency conversion fees, and Binance transaction fees, so it is less cost-effective.
Important Considerations
- Fees: Be aware that each platform may charge fees. PayPal generally charges a fee for each transfer, and some banks may have international or currency conversion fees. Using a USD account at QNB can minimize conversion fees.
- Currency Settings: Always confirm with PayPal that your withdrawal currency is set to USD if using a USD account to avoid conversion losses.
- Processing Time: PayPal withdrawals to bank accounts can take several business days, and adding funds to Pyypl may have its own processing time.
Conclusion
While it requires a few steps, transferring money from PayPal to Pyypl is possible through intermediaries like a QNB USD bank account with a Visa card. This method helps you avoid unnecessary conversion fees and ensures smoother transfers. By setting up a USD bank account and linking it to PayPal, you can move funds efficiently from PayPal to Pyypl for easy access to digital payment solutions.
