Personal Finance

Paypal and USD credit card

  • Last Updated:
  • Sep 12th, 2020 9:42 am
[OP]
Newbie
Nov 15, 2014
21 posts
4 upvotes
Toronto, ON

Paypal and USD credit card

Hi all,

I have a paypal account set in USD. The account is linked to a TD USD credit card. Whenever I made a purchase in USD, paypal took the money from my TD USD CC and I never paid the conversion fees. This has worked for years

However, since May this year, when I made a purchase in USD, Paypal first converted into CAD, then charged my CC in CAD. Because my CC is in USD, TD converted once again from CAD to USD. So I ended up paying conversion fees 2x

Did this occur to anyone? any solution?

I spent 2 hours chatting with Paypal customer service. They just passed me like a ball, I chatted with 8 different reps and got no solution. So frustrating.
8 replies
Deal Addict
Feb 4, 2019
2687 posts
4373 upvotes
BC
Your card is probably a Canadian USD card which is why Paypal wants to convert to CAD. They apply their own conversion at a crappy FX rate by default now. On the checkout screen, you have to click on "View conversion options" (or something similar) and choose to be charged in USD.
[OP]
Newbie
Nov 15, 2014
21 posts
4 upvotes
Toronto, ON
rhw123 wrote: Your card is probably a Canadian USD card which is why Paypal wants to convert to CAD. They apply their own conversion at a crappy FX rate by default now. On the checkout screen, you have to click on "View conversion options" (or something similar) and choose to be charged in USD.
I used this Paypal account and the same USD credit card for more than 5 years without any issue. Always paid the same exact amount that the merchant charged me in USD. Just recently since May this started hapenning to me. Asked Paypay customer service for help but they were useless
Deal Addict
Feb 4, 2019
2687 posts
4373 upvotes
BC
spec77 wrote: I used this Paypal account and the same USD credit card for more than 5 years without any issue. Always paid the same exact amount that the merchant charged me in USD. Just recently since May this started hapenning to me. Asked Paypay customer service for help but they were useless
Yes, you already wrote that in your opening post. Paypal is always making sneaky changes, trying to scam us into paying their atrocious FX rates. At least they still let us disable the currency conversion at checkout time for each individual payment although it is no longer possible to disable it at account level.
[OP]
Newbie
Nov 15, 2014
21 posts
4 upvotes
Toronto, ON
rhw123 wrote: Yes, you already wrote that in your opening post. Paypal is always making sneaky changes, trying to scam us into paying their atrocious FX rates. At least they still let us disable the currency conversion at checkout time for each individual payment although it is no longer possible to disable it at account level.
Thanks. I have a recurring payment to a service and managed to change the conversion setting.
I will have to send money to someone in the US soon. do you know if it's possible to set the conversion option when you send money?
Deal Addict
Feb 4, 2019
2687 posts
4373 upvotes
BC
spec77 wrote: Thanks. I have a recurring payment to a service and managed to change the conversion setting.
I will have to send money to someone in the US soon. do you know if it's possible to set the conversion option when you send money?
I think you can. You can try it out, the option should show up before you finalize the payment so you can still cancel.
[OP]
Newbie
Nov 15, 2014
21 posts
4 upvotes
Toronto, ON
Choosing the conversion option at check out has been working….until today.

A US merchant set up payment as a recurring monthly payment, not one time. At the check out there was no option for choosing the conversion option. I rushed into my paypal account and changed the conversion setting, but it was too late. Paypal charged the first month in CAD (next month will be in USD)

They always find a way to rip you off ;-)
Deal Addict
User avatar
Jul 31, 2007
2044 posts
178 upvotes
York Region
spec77 wrote: Thanks. I have a recurring payment to a service and managed to change the conversion setting.
OP, can you please tell me where to change that conversion setting?
I have the same thing happen to me twice. --- thanks
[OP]
Newbie
Nov 15, 2014
21 posts
4 upvotes
Toronto, ON
tsatsa wrote: OP, can you please tell me where to change that conversion setting?
I have the same thing happen to me twice. --- thanks
Go to settings->payments->manage automatic payments
Click on the service provider/merchant
On the right click on Credit ****XXXX
Click on See conversion options

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