PayPal is excellent if you are shopping online with a company you don’t altogether trust, or you’d like to keep credit card information private. While PayPal itself knows the full number, other merchants can’t gain access to it. However, the fees this company charges can be horrible.

Primarily, merchants are hit harder than the consumer, but even as a buyer, PayPal can find ways to gouge you with extra costs. For example, its currency conversion fee is automatically applied when you buy from an international seller with a currency that differs from your preferred one on your card. Sometimes, these extra costs can be up to three percent of your transaction’s value.

Three percent is quite a lot, and most of the time, a bank is likely to offer lower fees, sometimes as little as one percent. Thankfully, you can disable the automatic currency conversion from PayPal, though it isn’t easy to find.

One last thing before we start. This method only works if you’re PayPal account is linked to your credit card.

Disable the Currency Conversion from PayPal in Six Steps

Step 1

Log into your PayPal account and click the ‘options’ icon, which looks like a gear.

Step 2

Click on ‘Website Payments’ at the bottom of the page, and click on the update link next to ‘Manage Automatic Payments’.

Step 3

This next page has a variety of information on it. Toward the bottom, you’ll see a ‘Manage Automatic Payments’ or ‘My preapproved payments’ link. Click this link to go to the classic viewing.

Step 4

You will now see a list of pre-approved payments. Whether there are any listed or not, you will click on the link that says ‘Set Available Funding Sources.’ This might be toward the end of the page, and you might have to scroll down.

Step 5

Once the page loads, it is time to click on the ‘Conversion Options’ link in the middle of the page. Make sure to take note of the funding source listed to the right of the hyperlink.

Step 6

Read through the information on the next page that talks about the two conversion methods that are approved by PayPal. It is important to tick the second radio button that lets you be billed using the currency from the seller’s invoice.

When you’ve done that, click the submit button.

Step 7

Last but not least: You need to hit the ‘save’ button that appears after step 6, on the then again step 5 page.

You might have to repeat steps five and six if you have multiple funding sources for your account. If not, you are finished. PayPal will now handle the conversions from the seller’s listed currency, hopefully giving you more favorable rates.

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