Currency conversion option help

[jassihra]

Hello and happy new year all.

I need some urgent help. I have contacted paypal customer support and no one has helped.

The paypal setting which allowed me to use my own banks currency conversion rathr than paypals option has gone.

It used to be accessed the following way:

login to your account, click on the ‘tools’ icon, then ‘payments’, ‘manage pre-approved payments’, ‘set available funding sources’ and then ‘conversion options’

The option once you clicked on your specific card on conversion options was:

1. Use paypal conversion process to complete my transcation using my cards currency or

2. Bill me in the currency listed on the seller's invoice.

I need to use option 2 but the option to access this menu has dissapered.

I called paypal and one customer service reps have said this option was never available which is a lie.

I am loyal to paypal but this is really poor cutomer service.

Can anyone help please.

Kind regards.

[kroyl]

I have the same experience - the currency conversion options have disappeared in 2020 (they were available in December 2019 - you have to go to the "old" web UI for setting it up - now it seems to be gone).

Called PayPal - they told me that they can change the card billing currency to any currency I want - but this will affect all PayPal purchases with that card.

And this "currency conversion option" page where you could completely opt out of PayPal currency conversion (with marked up rates) is no longer available.

I proceeded to pay with credit card instead (without PayPal) - I needed to pay an EUR bill (while the card is in RUB) and I didn't want PayPal to start billing me in EUR for non-EUR purchases.

And I didn't want PayPal to do their own RUB-EUR currency conversion - I prefer to use my bank's rate.

[jassihra]

Thanks for your reply. I spent over 2 hours trying to sort this out yesterday. They didnt give me the option of billing that card with my own banks rate. I was advised to get the seller to invoice me and when you goto payment you can choose paypal conversion or your own banks card conversion. Silly that the option has gone. Thanks again for your reply.

[ykii]

This is also issue for me. I bought something in CAD and wanted it be paid in CAD. Now I look my CC bill and currency was EUR. Why have they removed the option to use bank conversion. Oh, I know - they got more money with this option. If that's really so, I'll move back to paying direct with my CC.

Anyone found a solution to change this?

[jassihra]

Please provide the link if you have found the solution.

Kind regards.

[PayPal_April]

Hello @jassihra,

If you send money using a debit or credit card, you can choose to use your card issuer's conversion rate instead of PayPal. If you choose to use your card issuer's rate, you won't know the conversion rate right away. It'll appear on your card statement.

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.

-April 

[P-Alex]

Unfortunately, the option "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." isn't always available when you make a purchase.

It is indeed true that the old UI is gone and so is the option to always use the credit card rate.

I would agree that removing this feature is indeed a very bad decision from Paypal's part, and I will stop using Paypal whenever I make purchase in different currencies if I don't have the option to set it upon making the payment.

[AlxBeLu]

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@PayPal_April wrote:

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.

---

This unannounced change in payment processing is as close to a scam you can get. Many of us had clearly stated in our preferences that we were not interested in the currency conversion service, yet PayPal sneaks it in and makes it default without mention, obviously causing, those of us not looking at more than the stated sum (in the vendors currency) matching what what one expected to pay, to accept the transaction.

I will definitely avoid PayPal as far as possible for any further transaction until this disgrace of a decision is reversed. I do appreciate the overview over recurring payments so that I can immediately change all those services.

[Upo001]

Just turned off currency conversion. Here is how:

1. Beside "Log out" press gear icon (Settings)

2. Select PAYMENT on top row

3. Press "View" beside "Manage your Automatic Payments"

4. On the left select "Manage Funding Sources".

    There you will see your cards.

5. Select "Conversion options" where you want to change it.

6. Select "Bill me in the currency listed on the seller's invoice" and press "Submit"

7. Repeat with another card as you wish.

8. Press yellow "Save" button

9. Enjoy! Open a beer and relax! 🙂

[jassihra]

No conversion options are there?

Can you elaborate please?