Good day guyz, can i actually transfer usd in Paypal to Wise usd acc? Paypal usdmyr rate damm low

Edit:

Meaning that, usd in paypal > transfer myr in bank acc > transfer myr in wise ?

hi guys. I have some doubt and wish to understand clearly.

example : Working at local (malaysia) receiving usd from overseas.

So i need to create USD account in WISE and pass the account number to the company am I right? So they will bank in USD payment to my USD WISE account.

then I can convert the USD amount to MYR and bank in into malaysia bank ? Any charges when convert usdto myr and bank in to malaysia bank ?

Thanks in advance

I don't think the other poster is quite right.

There are 2 options, depending on your choice of MY bank account.

1. MY bank account, created in Wise app.
This uses the  "convert" function.

2. Local MY bank account. e.g. CIMB or Maybank.
This uses the "send" function.

Both will use Wise's conversion rate and fees. You can see the conversion rate and fee when you initiate the transfer - this is very transparent.
Then you can compare and decide whether you want to confirm the transfer.

I transfer money from my EU account to my local MY account frequently, they're all using Wise's rate. I dunno why the other poster said it uses bank rate - the point of Wise is that it uses Wise's rate and not standard bank rates.

The way Wise works is that they act like the money changer. They take your money in USD in US, then order their branch in MY to disburse the money to your MY account. . That's how they bypassed the banks and offer competitive rates.