How to change Currency conversion option

[Jithin_George]

Recent changes to Paypal checkout process have removed the option I used to get to select Who converts currency. I prefer my Bank convert currency but the option is removed altogether and paypal charges my card in my local currency.

I see that the option to select who converts doesnt appear at all now during payment. I want to know if there is a settings I could change or some other way to by default let my bank convert currency for me.

[PayPal_Siobhan2 · Accepted solution]

Hi Jithin_George, 

Thank you for contacting the PayPal Community Forum and welcome as a new member!

When you make a payment using your debit or credit card, you can choose between your card issuer's conversion rate and PayPal’s conversion rate.

If you choose to use PayPal’s conversion rate, you can see the rate right away on the payment page.

If you choose to use your card issuer's rate, the conversion rate will be determined by your card issuer and we won’t be able to display the rate to you at the time of payment. To find out about the exact rate, you’ll need to check your card statement later or contact your card issuer directly.

To select your card issuer's rate when making a payment, just select the currency you are converting your funds to when making your payment.

Note: If you don’t see the option to choose your preferred conversion rate, it means your card can only use either your card’s conversion rate or PayPal's conversion rate.

- Siobhan 

[comuser28]

You know this is wrong. Sneakily taking customer money like a dodgy company even though it is a listed company.

On spot currency rate is useless if you charge 4%!  You don't even show the proper currency exchange rate. 

Instead of showing 1 USD = 1.5 SGD, it showed the other around to make people confused. 

This totally destroyed my trust in Paypal. 

[Alexstarsza]

The same to me!

It's ridiculous to sneaky charge customers extra conversion rate.

What a shame, PayPal!

[kkib]

"Note: If you don’t see the option to choose your preferred conversion rate, it means your card can only use either your card’s conversion rate or PayPal's conversion rate."

This is total BS. My CC can accept any currency but I was not presented with any option and was forced to use PayPal's conversion rate. You lose PayPal. I will never use PP for any payments in foreign currency. 

[sachinjmt]

Hii i have newly setup my business profile. "When you make a payment using your debit or credit card, you can choose between your card issuer's conversion rate and PayPal’s conversion rate." This option is not showing in my paypal checkout page. The payments other than the local currency are not getting processed. When i change my store currency to local currency then the payment goes on.so how to deal with this my paypal Checkout page is only processing the payment in the local currency.

[Temp20230525Y]

It is anti-competitive, anti-consumer, and frankly absurd that this option has to be changed for each and every transaction. Please reinstate the user option to set a default currency conversion method for each payment method. I don't care if you want to throw a banner ad at me telling me how great your currency conversion is and that I should use it (it is consistently not), but making me click through two menus every time to avoid it makes your "1-click payment" claim completely bogus.

[MariaElisMcC_68]

I selected to use my bank to convert the currency which used to work fine but now on my most recent payment yesterday it  just converted GBP12 to NZD12 which meant I sent the seller less. It appears that this function is not working correctly anymore and you can now only use Paypal's conversion rates.

[Adi84]

@PayPal_Siobhan2  I am sorry but there seems to be an issue with the statement provided: 

I use the same credit card to make several payments in EUR everyday, and i am "sometimes" given the option at checkout to convert the currency - and "sometimes" i do NOT get that option...

is there a rule as to why this happens in some payments and not others?

[Temp20220301w]

What does this mean: If you don’t see the option to choose your preferred conversion rate, it means your card can only use either your card’s conversion rate or PayPal's conversion rate?

I want to use my card conversion rate, BUT I am not allowed to choose when I make a purchase. The option to change the conversion rate for recurring payments only DOES NOT answer the question.

I spent a week with PayPal Customer Services trying to get the answer on "How to change Currency conversion option". Instead I received tons of useless manuals absolutely not related to the question.