How to change Currency conversion option

Jithin_George
New Community Member

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.

Login to Me Too
86 REPLIES 86

comuser28
Contributor
Contributor

This works, thanks! This should be marked as a Solution! 

Login to Me Too

Huh_wth888
Contributor
Contributor

Perhaps I am dumb. What exactly did you do? You pointed to the box with the check box in it (use paypal balance  first). 

 

Are you unticking the box or ticking it?

 

In either case, I tried both. It didn't work. I have no money in my Paypal account either. I want to pay by my credit card.

Login to Me Too

agooduser
Member
Member

Bravo, you solved it for me! God bless you

Login to Me Too

Rubble
Member
Member

If you're in the UK, you might like to send an email to the Competition and Markets Authority explaining why you think Paypal is abusing its dominant position as an aggregator of a customer's various payment cards / bank accounts to make it hard for customers to have their wishes acted upon regarding which company should do the currency conversion.

 

https://www.gov.uk/guidance/tell-the-cma-about-a-competition-or-market-problem#problems-in-a-market-...

 

"Markets that are not working well can result in negative effects for consumers, businesses and the economy. For example: consumers may be unable to make informed choices about prospective purchases"

 

All it takes is an email. The contact address is on the page linked above.

Login to Me Too

Temp20230525X
Contributor
Contributor

Done - email sent

Login to Me Too

shubell
Contributor
Contributor

Is that what they are doing legal in the EU? Well always helps to report them to the regulators.

Login to Me Too

temp20210323G
Member
Member

Refreshing this just incase anyone new has come and missed it. 

 

Here's a quick template based off what I wrote to hopefully make PP take less time out of your day 🙂

 

Get email from https://www.gov.uk/guidance/tell-the-cma-about-a-competition-or-market-problem#problems-in-a-market-...

 

Subject: Paypal have removed the option to set Currency Conversion

 

Hi, 

Paypal has removed the option to disable currency conversion.  

 
They changed their terms of service (23 September 2019)
 
"Where a currency conversion is required, it will be completed at the transaction exchange rate we set for the relevant currency exchange… The transaction exchange rate applicable to your conversion may be applied immediately and without notice to you. You may have the option (depending on the country/region you are residing in and the type of funding source) to Opt Out of currency conversion before you complete the transaction by selecting Other Conversion options on the Review Your Information page during checkout."
 
This means that for one-time transactions you have to make sure you search for this option which may not even be there,
And for recurring payments you can set a preference but you have to do it for each and every payment, but of course you can’t set it in advance so when you first make a recurring payment the option doesn’t come up. 
 
< Insert your own story / examples > 
 
From what I’ve read online it seems that they had this option previously (even if pretty well hidden), but have now removed it all together. 
 
Here are links I came across whilst trying to find a solution:
https://www.paypal-community.com/t5/My-Money/How-to-change-Currency-conversion-option/m-p/2000157#fe...
        - OP asks where this option is, answer was never given as it doesn’t exist but thread marked as solved. 
https://www.roman-reviews.com/how-disable-paypal-currency-conversion-save-money-fees/
https://www.paypal-community.com/t5/My-Money/Currency-conversion-options-when-using-a-paypal-account...
https://www.paypal-community.com/t5/My-Money/Currency-conversion-option-help/td-p/1997985
 
This decision means that consumers may be unable to make informed choices about prospective purchases. 

Please look into this, I look forward to seeing updates. 
 
My contact details: 
< Insert >
 
Thanks, 
Kat
Login to Me Too

Huh_wth888
Contributor
Contributor

Agreed. Changing currency options no longer is available in Canada too. Interestingly, Amex allows the item to be converted it seems. Mastercard does not unless you have a US Mastercard. 

Login to Me Too

Huh_wth888
Contributor
Contributor

@domjant Rubbish. That link does not work anymore. 

Login to Me Too

MilkedCow
Member
Member
This is the reason that finally made just plainly stop using paypal, not being able to set this by default on the account is either a distasteful joke or calculated way to rob us. And having this topic marked as solved is the cherry on top.
Login to Me Too

Haven't Found your Answer?

It happens. Hit the "Login to Ask the community" button to create a question for the PayPal community.