How to set up your PayPal to accept foreign currencies (PayPal interface)

At present, your PayPal account is probably set up for your own currency only. With revenue coming in from your foreign listings, however, you are going to need to set up your account for other currencies too. For UK sellers, this would mean adding EUR, USD and AUD.  If you are using the “old” PayPal interface, see this post. If you are using the new PayPal interface, here’s how:

For Commercial PayPal account users:

Log in to your PayPal account, then from the main menu (Summary) select Currencies, then on the following page, Add Currency.

Please note that for UK sellers, EUR is a must have. USD and AUS are also important to add. 

For Private PayPal account users:

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 payments in the different currencies.

 

Comments

  • Avatar
    Vacicmila

    Oh. Fantastic. So how to we avoid PayPal currency exchange rates or rather avoid PayPal doing the conversion ? 

  • Avatar
    Jan Falcondale

    But you need a bank account in those currencies in order to withdraw it. Or do you have a workaround?

  • Avatar
    Alex Korczak

    Hi Vacicmila, To answer your query as raised, you need to have a multi currency PayPal account set up - process of setting it up is described in the above article. In other words, you need to add foreign currencies as the accepted ones on your PayPal account, then you will be getting a payment in the currencies other than your domestic one.

  • Avatar
    Alex Korczak

    Hi Jan - Not necessarily. Yes, currency conversion will be applied, but you can choose when you convert the currencies, and on what terms (which in most of the cases is more beneficial and more cost effective).

    Since this solution gives you more control over your payments and the currency exchange rates - it is the recommended one. You don't really have the control over what will sell internationally and when - but by applying the above solution you can specifically decide when you will convert foreign currencies, and what means you will choose to convert them, instead of relying on PayPal rates and automated conversion after each foreign transaction happens.

  • Avatar
    Jim Austin

    Hi Alex,

    I still don't understand who pays the PayPal fees and currency conversion fees involved in international transactions. 

    I currently sell in US$ but would like to sell in Euros as well.

    If I sell a US$100 item to a person who has the option to pay in Euros, how much in US$ do I receive after all the transaction fees are paid? If you could detail all the fees, I'd be most grateful.

    Thank you

  • Avatar
    Jim Austin

    RE:  Above question, I have a US Business PayPal account

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