Beware of PayPals New Shady Conversion Practice

Whenever I pay with paypal overseas I usually use my Citibank card which has 0 conversion fees. I would normally checkout with the option 'card issuer's exchange rate', this week the option doesn't get saved when you click it for me. Meaning you would check the box only to see after that you have been billed with Paypal's terrible conversion instead deceptivly

I found a thread of people complaining about the same issue,

Seems like an easy way to make bank for shady Paypal

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Comments

  • +8

    PayPal's always been like this.

  • +3

    Ran into this today, gave up and paid without PayPal.

  • I noticed the same problem today on my USD$2.22 wireless headphones, I copped it on the chin and blamed my web browser… :|

    • Thought the same thing until I saw other people posting about it

  • +1

    Sounds like a money grab from PayPal, I will double check next time I checkout using them. If so won't be using them again. They used to provide a set and forget pay in currency charged to your CC, if that is gone… Simply them just making it harder to use your own currency conversion and to get you to use their conversion to make more $$$

  • +3

    There's an obscure setting somewhere, if you goto settings - payments, if you have an automatic payments, (I have airbnb payments), click into it. Then edit the payment method. For mastercard or visa, it'll have a conversion option next to it. From there you can set it to bill in seller's invoice currency. This will then apply for normal purchases.

    • +1

      Thanks very much for the hint dcuksuop.

      I had to go to settings - payments - manage automatic payments, then (maybe as I have no currently running payments) at the bottom left there was a "See More" button, clicking that produced a replacement of "Can't find what you're looking for? Try the Pre-approved payments page." with a link.

      So went to the pre-approved payments page. On there, above right of the Merchant list, was another link, "Set Available Funding Sources".

      Going there produced a page with my 2 cards ticked and an option for each, "Conversion Options". Clicking on each of those links allowed me the chance to select "Bill me in the currency listed on the seller's invoice." **** don't forget to "Submit" AND THEN SAVE *****

      • Yep, that sounds about right from when I first did it. Your instructions seem better than mine. :)

      • damn the removed it, im right at the end and there is no conversion option

  • +1

    Happened to me too, I clicked the option and paid anyway. The invoice from paypal makes me think it did process in USD (using my card providers conversion rate) but I guess I'll find out when the charge goes through

  • Can you screenshot where this option is? This is brand new to me. I've been getting scammed for years :(

  • Thanks! Had forgotten how to find this ;)

  • New owners of paypal want to send cars into space too. This is how they will fund it

    • Hardly a shock, given the bullshite Elon tries to sell and the gov subsidies he manages to pull.

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