Paypal allows you to make payments in any currency, regardless of the wallet's main monetary system. Double conversion is automatically set at an unfavorable internal rate, but the settings can be changed.
PayPal is an international payment system with which you can pay for purchases in online stores. The platform allows you to create multiple wallets in different currencies. But if you pay for the goods, the price for which is indicated in euros, from a ruble wallet, you can lose 2-3% due to conversion.
Converting to PayPal
Transferring currency with Paypal is convenient and fast. An online wallet in the required currency opens in a few minutes, and you can exchange electronic money in one click. You can withdraw money to a bank account only in rubles.
But there is a big problem - the internal rate of the system is very unprofitable, so when exchanging, for example, euros for rubles, you will receive less than you expected. If a large amount of money is transferred, the losses will be significant.
Double conversion is another frustrating moment. When paying for an item, for example, in British pounds sterling, PayPal will first convert it to its working currency and then to the merchant's currency. As a result, the wallet user loses money twice.
Fortunately, you can turn off double conversion and save money. To do this, you must assign the base currency of the account.
How to disable double conversion
To set up your account, first log into your PayPal profile. Log in with your username and password. In the upper right corner, you will find the Settings button. Click on it to get into the profile settings.
At the top of the screen, select Payments. You will be taken to a section with information about the terms of payment through Paypal. At the bottom is the required section - "Pre-approved payments". Click on the active button "Manage payments", after which the available sources of payment will open.
Here you will see all linked cards, debit and credit. At the bottom, click on the link "Specify available funding sources". A list of cards for payment will open. Opposite each is the button "Conversion options". Follow this link to open the conversion management menu.
Two options are offered: internal conversion system PayPal and exchange using Visa and MasterCard systems. The first, less profitable method is selected by default. The second involves conversion at the rate of the bank that issued the card. Select this item by checking the box and click on the "Submit" button. The parameters will be saved.
If several cards are linked to the account, it is necessary to set the necessary parameters for each one by opening the items with settings one by one.
It is more profitable to pay for goods in euros with MasterCard, and for goods in dollars - Visa, in accordance with the main currency of the billing account.
