PayPal can convert dollars to pounds

Deactivate automatic currency conversion with PayPal

If you pay for a flight, a trip or a product in a foreign currency (everything except euros) using PayPal, this will automatically be converted into euros by PayPal. This service is called Dynamic Currency Conversion and of course a fee of 4-5% is included in the conversion rate.

Currency conversion through PayPal can be avoided by adding a credit card to your PayPal account. However, dynamic currency conversion is automatically activated for Visa and MasterCard credit cards (American Express does not allow automatic conversion). You can deactivate this for credit cards. If you only have one checking account with PayPal, you unfortunately have to use PayPal's conversion. Direct debits can only be made in the currency of the account.

You can deactivate this automatic conversion for your purchase by clicking on Show currency conversion options clicks:

And then the Currency for this purchase relies on the foreign currency:

The amount will then be debited directly from your credit card in the foreign currency, e.g. US dollars. Unfortunately, you have to do this every time you shop.

manual

Unfortunately, you can no longer permanently deactivate currency conversion for a card in your PayPal account. These instructions no longer work from point 3 onwards.

Time required: 3 minutes.

How to deactivate the automatic currency conversion for payments with PayPal:

  1. log in

    First you have to log into your PayPal account and switch to the settings at the top right:

  2. Collection procedure

    Then switch to the tab in the settings PAYMENTS and choose there Direct debit payments

  3. Manage Funding Sources

    Now you will find all the merchants on the right-hand side that you have given PayPal direct debit (tip: Services that you no longer use, it is best to cancel the direct debit authorization!) And click on the link at the end Manage payment sources:

  4. Select conversion option

    Your credit cards that you have linked to your PayPal account will be displayed there. Click here in each caseConversion options:

  5. Change conversion options

    Now you can finally tick the decided checkbox. So that your credit card will be charged directly with the foreign currency in the future, choose Issue the invoice in the currency indicated on the seller's invoice and click on Send.

  6. Finished

    Now your credit card will be charged directly in the foreign currency and for the next payment, the exchange rate of Visa, MasterCard or your bank will be used. For other sources of payment where the conversion option is available, you have to repeat the last two steps.


With business accounts

At Business accounts the setting looks a little different. There you have to go under your profile onBank details go and there atPayPal payments via merchant direct debit onTo update click:

Then it goes on for everyone: In the header of the table, you will find a link toDefine available funding sources:

Your credit cards that you have linked to your PayPal account will be displayed there. Click here in each caseConversion options:

Now you can finally tick the box. So that your credit card will be charged directly with the foreign currency in the future, choose Issue the invoice in the currency indicated on the seller's invoice and click Send.

Currency accounts

By the way, you can also manage your PayPal account in different currencies. However, this is only of any use if you also have the corresponding incoming funds in the foreign currencies. Otherwise the amount will simply be converted again and debited from your bank account.

You can add an additional currency to your PayPal account under E-Exchange:

Cover picture: © pic3d - Fotolia.com

John

I founded Travel-Dealz in 2010 and have been writing about the latest travel deals every day. Since I was 17, I've been looking for ways to fly as cheaply as possible. With my knowledge, I try to do exactly the same for you. If you have a question you can always contact me! Just write me an email to: [email protected] Please do not confuse this with a travel agency.

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