The primary currency for my Paypal account is US$. Paypal asks this question when you set up the account. When US$ are paid into my account Paypal gives me a statement that says that I have this much in the account in Australian $. Why is it converted? American dollars are sent to my account which is in American dollars. When I wish to send US dollars to someone, why does it have to be converted to Australian dollars before being converted back to US dollars. There is a transaction fee, the money is US$ held in a US$ account. There is no money moving across borders so why does Paypal convert twice?
For each transaction this is not much money but for many transactions the effects are enormous.
If Paypal does not support the currency mutually agreed with the user of the account why does Paypal even bother asking?
It could be the desperate need for extra revenue or is it just poorly coded software?
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