How to disable automatic GBP->EUR convertion while paying from EU ?

[necrosy]

Hello,

I live in moscow and have USD VISA ELECTRON card of cyprus Hellecnic bank. Sometimes i buy some goods from uk and cn traders, with delivering to my friend's UK address because of some unwanted specific of russian post offices. I tryed paypal and was dispointed, because currency convertion fares were apllyed twice. Once GPB->EUR at paypal side and EUR->USD at my bank side. Now i changed my primary currency to USD to prevent double/tripple fares when i buy good from outside of UK, but however,

how could I avoid the same double convertion fares in future while buying good from UK traders, i.e. how to set as default that paypal HAVE to charge funds in GBP from my USD card (to let my bank apply its own convertion fares) when GBP is selected as currency for this payment?

Cheers, Alexei

[PayPal_paula]

Hi necrosy,

When you are making a payment using  your PayPal account you will be given the option as to whether you wish to chose PayPal to convert your payment to the correct currency to send your payment or you can chose your card issuer to convert the funds to the correct currency.

With PayPal, you can send money to anyone with an email address, through the Send Money tab on your PayPal account. The default payment currency will always be the primary currency of your PayPal account. However, this can be easily changed should you wish to make a payment in another currency.
 
The currency of a payment can be changed by using the drop-down menu on the 'Send Money' page. You may choose to send the payment in any of the currencies listed. Neither your or the recipient need to hold a PayPal balance (or any financial information) in the currency of the payment.

If you send money in a currency that is not your primary currency, we follow these practices:

1.  If you have a balance in the requested currency, we will fund your transaction from your balance.
2.  If you have a balance in a different currency, we will perform a currency conversion and use it to fund your transaction.
3.  If you do not have any available balance(s), we will fund your transaction with your default payment method.

Note: When your transaction involves a currency conversion, we provide you with a choice of whether we perform the currency conversion (at our exchange rate), or your credit card company performs the currency conversion (at their exchange rate).

•  If PayPal performs your currency conversion, we disclose the conversion rate to you at the time of the transaction
•  If you choose to use your credit card company’s currency conversion procedures, we will not be able to display the conversion rate.

Your card issuer will determine the exchange rate to apply to the transaction, and you will not be informed of the exchange rate or any additional  fees applied until you are billed by your card issuer .

I hope this helps

Paula

[necrosy]

Hello, maybe i am a bit obscured because english isnt my native language, but anyways,

my primary curency on this account was settled to GPB (now it settled to USD) as good as ware price was also in GBP, but paypal provided to my card issuer EUR-based receipt (so by this way i have fared twice, once on paypal side for GBP-EUR exchange, and once at my card issuer side for EUR-USD exhange). Anyways it was my fault that i do not checked what receipt is provided to my card issuer because i was a bit tired that time, but to prevent same situations in future, my question is `which checkbox inside my paypal profile i have to uncheck to dissallow any automatic paypal currency excanges (OR allow paypal  to exchange only  to default curency of specific card, i.e. USD for one card, RUR for another one, but not EUR for all) and force to provide to my card issuer receipts in curency of seller (OR in curency of my choise OR default curency of specific card )?` 

Cheers, Alexei

[PayPal_lucy]

Hey there necrosy,

From what your saying it sounds like your card may be set to EURO currency. You select the currency of the card when you add it on.

So if your card is set to Euro, you would see a double currency conversion. You can select your card to do the conversion for you which will avoid this. This will have to be done at the time of payment as there is no specific button to change this as a permanent thing on your account.

For example. If your card is a EURO currency and you want to pay your seller in USD, if you ask PayPal to do the conversion, we will charge your card in GBP and then convert the GBP to USD to send to your seller. This in turn will cause your card to convert the Euro to GBP in order to send it to us, causing a double exchange on the funds.

However, if you choose your card to do the conversation, we will charge your card in USD and there for only one conversion will take place with your card issuer.

To update the currency we use to charge your credit card, please send an email with the following information to PayPal customer support:

• · The last two digits of the credit card affected.
• · The currency you want to use for your credit card.
• · The dates of the transactions that were charged to your credit card in the wrong currency.

Until we update the currency for your credit card, you should complete the following steps when you send a payment:

1. Click ‘Other Conversion Options’ on the ‘Review Your Payment’ page.
2. Choose ‘Bill me in the currency listed on the seller’s invoice.’ Select this option to ensure that your credit card is charged in the currency you want.

Let me know how it goes.

[necrosy]

U are right about root of my problem but u are a bit wrong in details.

1)I have USD based card from cyprus Hellenic bank.

2)Seller receipt was in GBP.

3)Paypal exhanged GBP to EURO and provided EURO-based bill to my bank

4)My bank charged me once again while converted EURO to USD

to prevent double exchange fares GBP-(paypal)->EUR-(hellenic)->USD, i want from paypal:

to provide all my recepts to my bank in curency of seller AND (if it is possible) allow me to select currency of my choice as an option(currency of seller OR USD)

Cheers Alexei

P.S. I'll sell u via mail details of u asked for.

[PayPal_john]

When you add the card to your PayPal account you choose the currency it's going to be charged in. What it sounds like is your card has been set to Euro so all requests go in that currency. If you contact customer service you can request that they change the currency the card is charged in. Payments will always be charged to the card in that currency by default in that case.

In each payment, on the payment review page,  you will also be given the option of choosing to charge the card in a different currency, see below

on the next page you then choose as below if you want your bank to do the conversion rather than PayPal.

[heneds]

I prefer to let my bank do the currency conversions instead of PayPal doing them.

Is it possible to change the card settings so that the billed currency (whatever it may be) is always used instead of "my" currency? If not, I will have to change this setting every transaction I make which is quite bothersome. Could you consider adding such a setting?