Avoiding the Paypal currency conversion fee.


Yesterday, I purchased an item on Ebay from Europe in Euros. PayPal charged me 2.5% conversion fee from USD$ to Euros. The conversion fee was $40 plus $5 flat adjustment fee for the $1140 purchase. This was unexpected since my credit card attached to my Ebay account doesn’t charge for currency conversion. Ebay exclusively uses PayPal as the credit card processor. After much discussion with 3 PayPal reps, I discovered that they do offer an option to letting your credit card process the currency conversion – ONLY at the time of purchase. Of course, nobody knows that it is there. Here is how to do it. I hope this tip saves you some money – assuming that your credit card doesn’t charge a currency conversion fee.

1) Type in the total payment.

2) Click on the dropdown arrow below the USD currency.

2) Select the proper currency. Click Continue.

3) On the next page, click on Currency Exchange Options

4) On the next page, click on ‘Convert with Card Issuer’.


steakster
Good info. Thanks! Now if only I can remember this when I need to...
Bob
It's a shame that they wouldn't offer to waive the fee. This, in spite of making tons of money from all the other fees they charge.
B
I won't buy anything outside US and Canada  if I can't use direct payment 
with Am Ex  and they eat whatever Am Ex charges them . My money, my terms, take it or leave it .
Thanks! for sharing.
Thanks, steakster...
I 'm sorry to post the obvious but that is why I only buy in the US or maybe Canada.
The shipping from Canada can have extra fees though.

I would call it a good lesson learned.


Kenny.
Don't use Paypal as its pure crap,Enjoy though.
I have purchased many CD's and vinyl from UK, Europe, and Japan thru Ebay and Discogs using PayPal. I never saw any conversion fees added to my transactions. Sometimes there is a VAT to pay on items.

We're you charged due to the high amount of the purchase?

Were you charged due to the high amount of the purchase?
With items purchased on the U.S. Ebay website, all transactions takes place in USD $, ergo no currency conversion fee. This transaction took place on the European Ebay website - based on Euros €. This was for an item that rarely shows up on the used market. I was fortunate to find one across the pond.




Understood. Appreciate the info on the transaction, steakster.