Getting Stung by currency conversion from bank when using paypal.

theronkinator

Basically I buy quite a lot from sites selling in $, I pay with Paypal and until about 2 months ago I would go through the sites checkout in $, Paypal would charge me in $, but then convert it and charge me from by bank in £. But in the last 2 months paypal has been charging my card in $, meaning I get stung with a £1.50 conversion charge by halifax everytime. Recently I spent £1.30 and had to pay a £1.50 currency conversion charge. So basically how do I get it back to paypal charging my card in £, avoiding the bank fee's.

I have my debit card set up in paypal under credit cards so i don't add money to my paypal account it draws it straight from my bank. Thanks.

dmg24

You need to do the whole process in pounds.

richt71

I agree with DMG24. I use paypal quite a bit to buy stuff cheaper from US ebay and don't have an issue as my account is set up in £ pounds sterling. It just converts any $ dollar purchases in pounds.

theronkinator

How do I set paypal to just do it in £? I can't find the option, and the site only has the checkout in $.

dmg24

theronkinator wrote: »

How do I set paypal to just do it in £? I can't find the option, and the site only has the checkout in $.

Use ebay.co.uk?

theronkinator

I don't want to use ebay its more expensive, I'm using dealextreme, as I say its always worked fine til la month or two back.

noh

Open a Nationwide bank account or credit card. Link paypal to that. Nation wide don't charge currency conversion fees.


Nigel

noh

theronkinator wrote: »

Basically I buy quite a lot from sites selling in $, I pay with Paypal and until about 2 months ago I would go through the sites checkout in $, Paypal would charge me in $, but then convert it and charge me from by bank in £. But in the last 2 months paypal has been charging my card in $, meaning I get stung with a £1.50 conversion charge by halifax everytime. Recently I spent £1.30 and had to pay a £1.50 currency conversion charge. So basically how do I get it back to paypal charging my card in £, avoiding the bank fee's.

I have my debit card set up in paypal under credit cards so i don't add money to my paypal account it draws it straight from my bank. Thanks.

Something has gone wrong at the Pay Pal end. They should credit and debit your bank aaccount in £.
From their site:-

"Home Country Currency
Funds are held in the currency of your home country. When you withdraw or deposit money to a local bank account, it will be done in your home country currency.

You can maintain balances in currencies other than that of your home country, but when withdrawing from your PayPal account, your money will be provided in your home country currency. Additionally, you can withdraw your funds in US Dollars if your funds are withdrawn to a bank located in the United States."

Nigel

theronkinator

Thanks I think I'll email them then.