Business
How To Avoid PayPal Conversion Fees?
By Guidesify  •  August 29, 2020
Ever let PayPal convert for you when purchasing online in a different currency? Or trying to withdrawal foreign funds from your PayPal balance back into your local bank? You may have noticed that PayPal conversion fees are exorbitant and vastly differ from the rates you see on Google. A payment checkout page usually looks like this: Given the option of choosing between PayPal automatic conversion option and your card’s conversion rate, the consumer is effectively dealt with a poor hand of cards. Want to avoid this from happening? Here’s how to avoid PayPal conversion fees when spending or withdrawing USD as a non-US citizen!

PayPal Conversion Fees are Expensive!

According to TransferWise, Paypal’s currency conversion fee is between 2.5% and 4.5%. Alternative sources have stated that this rate has been silently increased in PayPal’s user agreement, with no mentioning of an upper limit. Increase or not, the fee is way too high to make it worthwhile to pay or receive USD on PayPal and many users have switched to other online payment systems....
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By Guidesify
Started in 2017, Guidesify is a Singaporean platform covering tech, travel, gaming and lifestyle content. We occasionally post perspective articles too, providing a different viewpoint on certain issues. By optimising content for SEO, we have helped brands reach hundreds of thousands of readers worldwide.
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