That’s a lot of currency conversion, so I’m naturally unhappy to find out I’ve been forking out cash I could’ve saved for my company. I’ve used PayPal conversion for a couple of years now, using it to buy all kinds of XaaS-es for my tech work.
How they hide the additional charges themselves behind fine-print. How difficult it is to find the page to opt out, and. I’m sure a pretty lively discussion can be started about whether PayPal intentionally makes it difficult for you to opt out of their currency conversion services. Remember that you have to do this for every credit card registered with PayPal! Otherwise, it’s possible to have some cards still using PayPal’s currency conversion rate, which you likely do not want. The second radio option (red arrow) is the one that tells PayPal you want to opt out of using their currency conversion service. That’s inside the gear icon on the top-right corner. Here’s a direct link: /sg/signin 2) Go to your Account Settings The step above should be pretty self-explanatory. So, how do you opt out? 1) Login to PayPal This means if you get a PayPal account, link a credit card and start buying stuff online, you’re going to be racking up these additional fees quick. You are opted into PayPal’s currency conversion by default. This article is being written from Singapore, so you’re in luck if you’re from here.īy default, every single PayPal account opts into using PayPal currency conversion by default. 
Opting out (for PayPal Singapore)Īs the PayPal interface differs across regions, the steps that you will need to perform might be slightly different from the ones listed below. How much money you save by using your bank’s conversion over PayPal’s.Īs you can see, the conversion fees rack up fast! With a US$5,000 transaction, you are giving PayPal an additional $280 - which can get you a year’s subscription to all kinds of XaaS-es. Both your personal and your business account will have a currency calculator.
With just a 0.028656 USD difference in conversion rate, the additional costs you incur by using PayPal’s conversion rate can snowball quickly: Spending (in USD) Follow these 5 simple steps to check the PayPal exchange rate for the day: Log in to your PayPal account. Conversion rate on Google, which is also the rate that most banks offer.
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