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No choice to choose another default currnecy for a payment method

whocares61
Contributor

No choice to choose another default currnecy for a payment method

So I am annoyed as many other users that you cannot choose the default currency for your payment method and you have to choose every time not to use paypal conversion.

 

However, sometimes I am losing serious amounts of money because my payment method is attached to a certain service and it just takes the default currency without asking me. However some don't. How does it work?

 

AIRBNB had a place for which I had to pay in EUR, I had my paypal attached as a payment method and it has charged me in RUB, however because my card is in EUR, Paypal converted from EUR to RUB and then my bank converted it back from RUB to EUR. I had to pay more than 5% of the whole amount!

 

However, when I use other services it doesn't happen.

My question is why sometimes it does the conversion and sometimes it doesn't?

3 REPLIES 3
whocares61
Contributor

Re: No choice to choose another default currnecy for a payment method

I found that you have to go to AUTOMATIC PAYMENTS, go one by one like an idiot and disable the conversion..

sharpiemarker
Esteemed Advisor

Re: No choice to choose another default currnecy for a payment method

@whocares61 wrote:

I found that you have to go to AUTOMATIC PAYMENTS, go one by one like an idiot and disable the conversion..

Yeah, because automatic payments is not affected by the preferred payment method settings.

 

What is my preferred payment method and how can I change it?

 

Your Preferred Payment Method is the funding source that will be used when paying with PayPal. You can check your preferred payment method in your Wallet. You can change your preferred payment method at any time.

Changing your preferred payment method on your PayPal account will not affect billing agreements, subscriptions or recurring payments. You can update your payment preference on billing agreements, subscriptions, or recurring payments at any time in your account.”


Kudos & Solved are greatly appreciated. 🙂
sharpiemarker
Esteemed Advisor

Re: No choice to choose another default currnecy for a payment method

@whocares61 

 

Can I have my card charged in a different currency?

 

When you add a credit card to your PayPal account, it's automatically registered in your local currency. This is our standard procedure as your card issuer doesn't inform us what the actual currency is.

If you usually send your payments in the same foreign currency, you can avoid conversion costs if your card is denominated in the currency of the transactions you make.

To update the currency we use to charge your credit card, add a currency card to your PayPal account, and email or call us with the following information:

  • the last four digits of your card number
  • the currency you want to use for your card
Until we update the currency for your card, please complete the following additional 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.
When you choose this option, you won’t know which foreign exchange rate has been applied to the transaction until you receive your card statement. Your card issuer will determine the foreign exchange rate to apply to the transaction.

Kudos & Solved are greatly appreciated. 🙂