How to avoid PayPal fees for foreign currency transfers?

10
Posted 5th Nov
Hello,
I need to send someone a couple hundred Euro via PayPal.
PayPal's conversion rate is poor as it levies some kind of fee, meaning I lose out by about £10 on this transfer.

Is there any way to get around this fee, or to reduce it?
Is there a cheaper (or free) alternative to PayPal that is safe and simple?

Thanks.
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10 Comments
If you've got one of the many debit/credit cards out there with excellent conversion rates and no foreign transaction fees (Starling, Monzo, Revolut, Halifax etc) then it's possible to pay by Paypal in Euros and let the card do the conversion.
Edited by: "OllieSt" 5th Nov
OllieSt05/11/2019 21:55

If you've got one of the many debit/credit cards out there with excellent …If you've got one of the many debit/credit cards out there with excellent conversion rates and no foreign transaction fees (Starling, Monzo, Revolut, Halifax etc) then it's possible to pay by Paypal in Euros and let the card do the conversion.


I have one of those cards and I regularly use that to fund purchases through PayPal.
However this is not a purchase but sending money to a friend. In Euros.
When I click the option to send money, and then click friend and family it takes me to the amount screen.
When I type 200 Euros, the message below this informs me of the poor rate (around 1.10 EUR to GBP) and that it includes a currency conversion fee.
I've taken this all the way to the penultimate screen, and the poor exchange rate does not go away.

Am I doing it wrong?
Pay in the local currency funded by a no-fee card tied to your PP account.
Uranus05/11/2019 22:01

I have one of those cards and I regularly use that to fund purchases …I have one of those cards and I regularly use that to fund purchases through PayPal.However this is not a purchase but sending money to a friend. In Euros.When I click the option to send money, and then click friend and family it takes me to the amount screen.When I type 200 Euros, the message below this informs me of the poor rate (around 1.10 EUR to GBP) and that it includes a currency conversion fee.I've taken this all the way to the penultimate screen, and the poor exchange rate does not go away.Am I doing it wrong?


Sorry I didn't read you post properly. I reckon Revolut will do this for you. You can send Euros and will need IBAN details of friend. But their bank might charge a conversion fee if you don't send Euros from your Revolut account. I have Revolut card with funds in various currencies including Euros (you can do this with ease) . I could certainly send as you require.



Info
Edited by: "OllieSt" 5th Nov
AndyRoyd05/11/2019 22:05

Pay in the local currency funded by a no-fee card tied to your PP account.


Under the amount "you send" the only currencies are USD and GBP. Under "recipient gets" are a host of currencies including EUR.
I need to send the receipient EUR. I cannot select EUR as my currency, only USD or GBP.
Uranus05/11/2019 22:14

Under the amount "you send" the only currencies are USD and GBP. Under …Under the amount "you send" the only currencies are USD and GBP. Under "recipient gets" are a host of currencies including EUR.I need to send the receipient EUR. I cannot select EUR as my currency, only USD or GBP.


Sending not buying?
Uranus05/11/2019 22:15

Correct.


Wallet >> Euro >> Make Primary ?
or
Wallet >> Add Euro currency >> Euro >> Make Primary ?
AndyRoyd05/11/2019 22:21

Wallet >> Euro >> Make Primary ? orWallet >> Add Euro currency >> Euro >> …Wallet >> Euro >> Make Primary ? orWallet >> Add Euro currency >> Euro >> Make Primary ?


This was the solution.
In hindsight it was so obvious and so simple.

Thanks a lot, this helped me.
Uranus05/11/2019 22:28

This was the solution.In hindsight it was so obvious and so simple.Thanks …This was the solution.In hindsight it was so obvious and so simple.Thanks a lot, this helped me.


Good result. Pleased to help out.
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