PayPal Conversion rates

Just looking through my PayPal account, not something I do often as I don’t use it much now. But I’ve just noticed that you now have the option to use a card conversion rate rather than PayPal’s

Really glad they’ve included this as their fees used to be quite high compared to the likes of the bank

As I said, I don’t use it much so it may have been there for some time and I’ve just not noticed

Where is the setting for this, @Mathew? I’d love to be able to turn off PayPal’s conversion for my Starling and Monzo cards but leave it on for my legacy banks with the ridiculous foreign transaction fees.

PayPal have always had this option since I’ve been using them!

It’s both been buried away in settings though, and not clearly presented during checkout.

They removed the settings option that allowed you to set a default though, and have just made it a little clearer in the checkout flow. I’ve never used PayPal’s conversion rate.

It shows up during the checkout flow like this:

This wording is new though. The option has always been there, but the blue text was something more ambiguous like manage/settings/options

You can also still manage this for merchants with automatic payments set up by logging into PayPal, going to settings > payments > manage your automatic payments.

Choose the merchant who you want to change the setting for and you’ll see this screen:

Click on your funding source and you’ll see the same See currency options from the screenshot above.

The options you get look something like this:


Right, yes I was aware of the option to choose during checkout. It was the ability to set a default in the PayPal account settings that I was curious about, and that would’ve been ideal for my use case. Shame to hear that’s been removed!