I wonder how many people have a Paypal account in a foreign currency.

@Asylum (48278)
Manchester, England
March 7, 2016 3:37am CST
This thought occurred to me this morning because I was amending a financial spreadsheet that I have, which includes my Paypal account. By default we will be allocated a Paypal account in our own national currency. However, in my case I opened my account long before they operated a UK division, so mine was in US Dollars. Paypal UK has been around for many years now, so I could easily convert my account to British pounds or even add British pounds as a second currency. In fact I have the option to pick other currencies, such as Euro or even to operate a multi currency account, Over the years I discovered that having a US Dollar account was actually useful. Whenever I have purchased an item from overseas it has always been priced in US Dollars, so it saves me from having to pay a conversion fee. I still operate my account in US Dollars and wondered if many other people do similar.
12 people like this
12 responses
@owlwings (39362)
• Cambridge, England
7 Mar 16
I have a PayPal account in US dollars and UK pounds. It's useful to run two currencies because I can transfer the balance from one to the other when the rates are beneficial - not that the amounts I have to deal with make it worth more than a cent/penny or two's difference!
2 people like this
@Asylum (48278)
• Manchester, England
7 Mar 16
I have considered running mine as dual currencies, but never really bothered to do so.
1 person likes this
@RasmaSandra (18405)
• Daytona Beach, Florida
7 Mar 16
@Asylum my PayPal is in US dollars and in Euro. Still it always seems that by the time the fee gets paid and the transfer made I get a whole lot less.
1 person likes this
@Asylum (48278)
• Manchester, England
7 Mar 16
@RasmaSandra It will make a vast difference due to the poor exchange rates that Paypal offer. I have often thought about monitoring the rates and withdrawing cash when the rate is favourable, but never seem to get around to it. I have just checked and Paypal will convert $10 to £6.88, whereas the actual exchange rate would produce £7.03.
2 people like this
@rebelann (41916)
• El Paso, Texas
9 Mar 16
Interesting thought, it's never even come to mind. I honestly can't think of a reason to get an account in a foreign currency, I don't travel so there really isn't a need.
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@Asylum (48278)
• Manchester, England
9 Mar 16
If PayPal UK had been around at the time I would no doubt have opened a British pounds account. Since it had to be US dollars at the time I have seen no reason to change it. If I withdraw cash then I will pay the exchange rate, which I would have done if my account was in £s, whereas if I purchase from overseas it saves me losing out on exchange rates. Therefore it is in my interest to leave it as it is.
@rebelann (41916)
• El Paso, Texas
9 Mar 16
That makes sense @Asylum do you shop for daily needs or foods?
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@Asylum (48278)
• Manchester, England
9 Mar 16
@rebelann Not with PayPal because those items would be in £ sterling, but I do occasionally buy items from overseas.
@dpk262006 (56217)
• Delhi, India
7 Mar 16
You are very lucky that you have an old paypal account and you have the option to operate in USD or otherwise. I have a paypal account. However, we receive our mylot earnings in Indian Rupee only (as I am from India). If I need to buy anything from abroad using my paypal account, I will have to pay conversion charges.
1 person likes this
@Asylum (48278)
• Manchester, England
7 Mar 16
This is precisely why I kept the account in US$. If I ran my account in British pounds it would be converted on receipt, after which I would need to reconvert to use overseas.
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@dpk262006 (56217)
• Delhi, India
7 Mar 16
@Asylum As I said earlier that you are lucky in this regard.
@allknowing (66404)
• India
7 Mar 16
Whatever be the currency we are not allowed to keep our money in our paypal account. It gets transferred to our bank automatically.
2 people like this
@Missmwngi (10650)
• Nairobi, Kenya
7 Mar 16
Mine is in US dollars
1 person likes this
@Asylum (48278)
• Manchester, England
7 Mar 16
I have been quite surprised to discover how many people are using Paypal in currencies other than their own. I actually expected that I was the odd one out.
1 person likes this
@Missmwngi (10650)
• Nairobi, Kenya
7 Mar 16
@Asylum I think US dollar is more popular with online
1 person likes this
@Asylum (48278)
• Manchester, England
7 Mar 16
@Missmwngi It is basically the standard currency for online transactions, which is why I keep mine in that format.
1 person likes this
@Morleyhunt (19806)
• Canada
7 Mar 16
My paypal account will give me the total in Cdn, but my Mylot payments remain in US currency until I move or use them.
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@Asylum (48278)
• Manchester, England
7 Mar 16
So you must be either operating the account in US Dollars or in both currencies.
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@Morleyhunt (19806)
• Canada
9 Mar 16
@Asylum as a Canadian account, most of them will operate in both currencies. Too many purchases are made in US dollars.
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@Asylum (48278)
• Manchester, England
9 Mar 16
@Morleyhunt Here it would depend if we purchased domestically or internationally, which would not affect most people.
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• United States
7 Mar 16
MIne is in US dollars but never really gave it much thought until you mentioned it.
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@Asylum (48278)
• Manchester, England
7 Mar 16
That is understandable since US$ is both your currency and the original currency of Paypal.
• Preston, England
7 Mar 16
mine is in UK sterling £ - I also have one with Skrill as one site I write for only pays through that but it is virtually the same as Paypal
1 person likes this
@Asylum (48278)
• Manchester, England
7 Mar 16
I have never even heard of that system, but I do remember a period when quite a few sites can to life hoping to compete with Paypal.
@dodo19 (33038)
• Beaconsfield, Quebec
7 Mar 16
Mine is in US and Canadian dollars.
1 person likes this
@Asylum (48278)
• Manchester, England
7 Mar 16
There appear to be4 more people taking advantage of the option than I expected.
1 person likes this
• Philippines
7 Mar 16
My paypal account remains in US dollars, it will only convert it to my country's currency once it was transferred to my bank.
1 person likes this
@Asylum (48278)
• Manchester, England
7 Mar 16
This is pretty much the same as mine. It is quite a while since I used it to buy anything, but leave it in dollars just in case.
1 person likes this
@jaboUK (54328)
• United Kingdom
7 Mar 16
I get mine converted to British pounds as I never buy anything online anyway.
1 person likes this
@Asylum (48278)
• Manchester, England
7 Mar 16
Mine is obviously automatically converted if I withdraw cash, but it is rarae and I usually just keep it in the currency it arrives as.
1 person likes this
@cxndie (1062)
• Kolkata, India
7 Mar 16
Im from India and Ive still got my Paypal account paying me in USD too. I think it's better as I shop online and from abroad quite a bit and my Paypal in Dollars, helps. :)
1 person likes this
@Asylum (48278)
• Manchester, England
7 Mar 16
That is precisely why mine has remained in dollars. If I switched my account to British pounds it would give me an exchange rate as soon as a payment arrived and I would pay another whenever I spent dollars.
@Lucky15 (33823)
• Philippines
7 Mar 16
Dollar.on mine :)
1 person likes this
@Asylum (48278)
• Manchester, England
7 Mar 16
Is that by choice or because PayPal do have facilities for your currency?