How do I convert my money to another currency in PayPal? (2024)

FAQs

How do I convert my money to another currency in PayPal? ›

In your Payment Methods, you can add a new currency, change your primary currency, close a currency, and more. Here's how to add a new currency: Go to Payment Methods. Click Add a currency.

In your Payment Methods, you can add a new currency, change your primary currency, close a currency, and more. Here's how to add a new currency: Go to Payment Methods. Click Add a currency.

Does PayPal automatically convert foreign currency to USD? Yes, it does. If your main currency is chosen as the USD, you can accept foreign payments, which will then be converted into USD automatically.

If your transaction requires a currency conversion, we will use a retail exchange rate (the wholesale cost of foreign currency as denominated by an outside financial institution) plus a conversion service charge of 4.5%.

The laws applicable to PayPal accounts differ by country and region. So, you can't change your address to a country that is different from the country you used when you opened your account. If you're moving abroad, you'll need to close your existing account and open a new account.

I see you've questions about having multiple accounts in different countries. I want to inform you that PayPal accounts are country specific and you will only be able to use CZK account in CZK. However, you can use multiple currencies in your PayPal account. For more information, you can can refer to the Article.

Is it better to convert currency with PayPal? ›

You may even be expecting PayPal exchange rates to be better than the going rate at your bank. Overall, that isn't always the case. PayPal charges currency conversion fees plus an extra transfer fee to send funds in a different currency.

Log in to your PayPal account at paypal.com. Go to Send and Request. Enter the name or email address of the recipient. Select the amount of money you'd like to send to the recipient and press Continue.

With PayPal, your international transfers can reach numerous destinations like the Philippines, Canada, China, United Kingdom and more quickly when you send to another PayPal account. With Xoom, the time to receive money varies if you choose to send via another delivery method.

So, if 1 U.S. dollar is worth 0.63 British pounds, then the exchange rate for converting the US dollar to British pounds is 0.63 British pounds/1 U.S. dollar = 0.63. The process of converting from one currency to another is called currency conversion.

Log in to your PayPal account, click on Wallet, then click on PayPal balance. On the subsequent popup, simply click on Manage currencies, then on the following page Add Currency. You're done! Now your PayPal account is ready to receive International payments in currencies of your choice.

Picking a Currency

PayPal lets you pay, or accept payments, in U.S. dollars, Canadian dollars, pounds sterling, euros, and yen, making it easy to buy and sell globally. PayPal has plans to add more currencies, including Australian dollars, in the future.

Directly with PayPal

You can also make payment to millions of merchants around the world that accept payment via Paypal. Every payment you make would be charged from the Debit or Credit Card you have linked to the account. All transactions are currently denominated in United States Dollars (USD).