Changing PayPal’s Default Currency Conversion Option

posted in: Tips 12

Nov. 22, 2019 update

It looks like PayPal recently redesigned their web page. As a result, there is no way to navigate to that option. Fortunately, the URL to Manage Funding Sources is still available.

The guide was updated to reflect the new method.

So you have a credit card that doesn’t charge conversion fees and you’ve added it to your Paypal account. That’s it right? You’re no longer being charged conversion fees when using PayPal! Not quite.

By default Paypal performs its own currency conversion and charges you up to 3.5% on top of the exchange rate. To change this option, log onto your Paypal account and follow the steps below:

1. Log onto your PayPal account

2. Go to this URL: https://www.paypal.com/cgi-bin/webscr?cmd=_profile-merchant-pull-funding

4. Click “Conversion Options” beside the credit card with no currency conversion fee.

Paypal Currency Conversion Option - Step 5

6. Select “Bill me in the currency listed on the seller’s invoice.” and click “Submit“.

Paypal Currency Conversion Option - Step 6

That’s it! No more currency conversion fees! Please leave a comment below if these steps are out of date.