How to stop payments in other currencies being converted into primary currency

[drumbunny]

I have a personal account in Canada with a wallet that includes CAD, USD and SEK.  Everytime I get paid in USD or SEK, the amounts are converted to CAD and added to my CAD wallet?  How can I stop this so that when a someone sends me USD, it stays in USD in my wallet?  

[sharpiemarker]

@drumbunny 

Go to Settings > Seller Tools > Payment receiving preferences

See the first setting that tells PayPal how to handle foreign currency payments.

[archibald1978]

Hello,

My setting says "Yes, accept payment and create new holding balance in that currency" and still instead of EURO I receive it converted to US dollars.

I'm from israel, a year ago there was no problem to receive EURO, what changed?

Thank you in advance.

[drumbunny]

No such button under "Sellers Tools".  Only:  PayPal Buttons / Website Preferences / Instant Payment Notifications / Invoices / Shipping Preferences.

[PayPal_Bindu]

Hey @drumbunny,

Welcome to our community help forum!

Thanks for the information @sharpiemarker! If you have a Premier or Business account, Payment Receiving Preferences can handle payments automatically. You can convert any payment into your primary currency or block certain types of payments. You can refer to our article for more information updating payment preference settings. if you still face issues updating payment preferences, please reach out to our team through the available contact options at the bottom of PayPal page for additional assistance.

Have a great day!

Bindu

[drumbunny]

That isn't a clear answer.  So are you saying that if I don't have a Premier or Business account then all incoming payments are automatically converted into my home currency? What is the point of having all the different currency wallets?  That doesn't make sense. 

[PayPal_paula]

Hi @drumbunny, 

From what I know and have read, when you receive a payment in a different currency other than your primary currency it will convert the funds to your primary currency. However, if you have a balance opened in that currency, for example, if you have a USD balance set up on your PayPal account and receive a payment in USD it should add to your USD balance. The only time it should be converting the funds to your primary balance is when you want to withdraw them. All balance must be withdrawn in your local currency which is generally your primary balance currency. Please see here for more information on currency balances. 

If this is not what is happening please contact us directly so we can check your settings with you. 

Thanks 

Paula