How to avoid conversion fees on PayPal?

Eliminate PayPal Currency Exchange Fees with Revolut

For those who frequently engage in international transactions using PayPal, conversion fees can accumulate and significantly impact your finances. Here’s a comprehensive guide to effectively bypass PayPal’s currency conversion charges using Revolut:

Step 1: Create a Revolut Account

Register for a Revolut account, which offers a multi-currency card that allows you to hold and spend funds in over 30 currencies without exchange fees.

Step 2: Link Your Revolut USD Card to PayPal

Once you have a Revolut account, connect your Revolut USD credit card to your PayPal profile. This allows you to instantly transfer funds from PayPal to your Revolut card.

Step 3: Transfer Funds from PayPal to Your Revolut Card

Log into your PayPal account and initiate a transfer to your linked Revolut USD card. Choose the “Instant Bank Transfer” option, which will enable you to swiftly transfer funds without incurring any conversion fees.

How It Works

When you make a transaction in a currency other than your home currency, PayPal typically converts the payment at its own exchange rate, which may include a markup. However, by using Revolut, you effectively bypass PayPal’s conversion process. The funds are transferred directly from PayPal to your Revolut USD card in USD, allowing you to spend them in other currencies without encountering additional charges.

Benefits of Using Revolut

• No Conversion Fees: Revolut’s multi-currency card eliminates conversion fees when spending abroad or transferring funds between different currencies.
• Real-Time Exchange Rates: Revolut provides competitive real-time exchange rates, ensuring you get the best possible value for your money.
• Additional Features: Revolut offers other convenient features such as budgeting tools, expense tracking, and instant money transfers.

Conclusion

By following these steps and leveraging Revolut’s multi-currency capabilities, you can effectively minimize or completely avoid PayPal currency conversion fees. This simple workaround allows you to save money on international transactions and enjoy the convenience of using PayPal without sacrificing exchange rates.