We all probably noticed more than once that PayPal’s got a very bad conversion rate, which usually makes you spend more money than expected, when buying stuff in another currency.

If you are like me and don’t want to spend 30€ instead of 25€ and donate the rest to PayPal because you are buying in a foreign currency, follow the steps below and let your bank manage the currency conversion instead of PayPal.

Your bank’s conversion rate will usually be similar to the one that Google uses when you use it to convert the price.

  1. Log into PayPal
  2. Click on Profile
  3. Click on My money
  4. Find My preapproved payments and click on on Update
  5. Click on Set Available Funding Sources (on the top right corner of the transaction table)
  6. Click on Conversion Options next to your credit card number
  7. Select “Bill me in the currency listed on the seller’s invoice.” and Submit the form

As you can see, PayPal really doesn’t want you to find this option and wants your money really badly!

You can send me a postcard with the money that you save using this tip! 🙂

Leave a Reply

Your email address will not be published. Required fields are marked *