Why do I now have multiple currencies?

[mqguy]

Hi,

We are a small software vendor based in New Zealand but selling all over the world. We have been going for a number of years and regularly receive payments in other (non-NZD) currency. When we do receive payment in another currency PayPal has always asked us to accept the payment and convert the money (say USD) into NZD and put the money into our account. 

This morning though we had a payment in USD and rather than wait for us to accept the payment PayPal already reports the payment as 'complete' and we now have two balances on our account. One in NZD and one in USD.  Prior to this point we only ever had a NZD balance.

This has never happened before. Is this a change to PayPal operation  that I have missed in all the 'change of policy' notifications we keep getting. Or has something gone wrong with the process this time ? If the former how do I get the money into our NZD account. If the latter how do I get someone to fix it since it says its complete and resolution centre keeps pushing me out. 

We would appreciate any help.

[PayPal_Marina]

Hi @mqguy,

Welcome to the Community! I apologize for any inconvenience this situation has caused. It sounds like you may need to update your payment receiving preferences. There will be an option in your Settings to accept payments in different currencies and automatically convert them to your primary currency. If this is not selected, the default option will accept the payment and create a new holding balance in the secondary currency. Since you've mentioned that has already happened, you can transfer the money in your balance to your preferred currency by following the steps listed here.

I hope this helps!

- Marina

[mqguy]

Hi Marina,

Thanks for the reply. I have made the setting change you mention and now it does appear that any payment goes directly into my NZD account. However, this now seems to happen immediately whereas before I was asked to accept the transaction. However, this does at least prevent me gaining a whole bunch of different currency accounts so thanks for the tip.

[lirra515]

did you find the solution for this? I'm still looking for answer to this problem. i tried the suggestion before but i still keep on receiving USD instead of JPY.

thank you.

[mqguy]

It did seem to work for me initially but now it has gone back to a separate USD balance. Oddly this only seems to happen for USD. If I am sent money in EUR, for example, then it gets converted and put in my main NZD account. I might have another go and working out why USD is different later but I find trying to solve things in PayPal very frustrating so I gave up trying.

Cheers.