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

At present, your PayPal account may be set up for your own, domestic market and currency only.

When launching your Business internationally and with revenue coming in from your international listings, you're likely to want to set up your account to include other currencies also. For UK Sellers, this would usually mean adding (at a minimum) EUR, USD and AUD. Likewise for US Sellers, set-up would likely allow for payments in GBP, EUR, CAD & AUD.

Adding Currencies allows you to accept payments into specific PayPal currency accounts, USD to USD, Euro to Euro, GBP to GBP etc. It also enables you to ''Hold'' the balance of these additional Currency accounts rather than converting the currency immediately. This provides the potential benefit of being able to convert against exchange rate whenever you choose.

For non added Currencies, you'll need to set-up how you accept these payments.

Below, we provide a guide to walk you through the whole set-up. From accepting international payments, adding your chosen currencies, and how to accept non-chosen currency payments:

First of all, let's get your PayPal set-up to accept International Payments

Accepting International Payments 

For those currencies you do not wish to add to your account, you need to decide whether to accept payments automatically or manually. This is based on conversion of the currency into your domestic one.

You can choose to ''deny the payments'' or ask ''whether to accept or deny each individual payment''. 

If you wish to ensure payments from clients are received without delay, and do not wish to check each and every payment received from these non added currencies, simply click the ''Yes, accept and convert them'' option, and save your preferences.

(US Sellers will have ''Ask me'' as default, whereas EU Sellers will be defaulted to ''Yes, accept''. We recommend clearly checking your settings to ensure the correct ones are enabled). 

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Accepting International Payments - Additional Required Step for US Sellers

To set-up

1. Log in to your PayPal account.

2. Click the Business Profile icon next to "Log Out" and select Profile and settings.

3. Click My selling tools.

4. To enable International payments, Untick the Block payments from users who ''Have non-US (UK etc) PayPal accounts''.

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Now you're set-up to receive International Payments, let's add the Currencies you want to your Account. This differs depending on whether you have a Business or Private Account.

For Commercial PayPal account users: Adding Currencies & How to Accept International Payments

PayPal have a very clear video guide which is provided below as a step-by-step walk-through:

In addition, we provide a quick snippet guide below:

For Private (non-Commercial) PayPal account users: How to Add International Currencies:

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.

For Frequently asked questions and additional information, we recommend visiting PayPal's website directly for guides: 

How to accept foreign payments with your PayPal Business account.

PayPal's Business Resource Center

Manage your PayPal Account

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

  • Avatar
    Alex Korczak

    Hi Jim,

    I'm afraid the questions raised here would be for PayPal to clarify as we are not involved in fees structure. There is an article linked below that should help, and any further clarification we'd need to recommend contacting PayPal directly.

    What are the fees for PayPal accounts?

    All the best.

     

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