In this post, I’ll compare PayPal and my bank’s conversion rate. If your card’s default currency is other than the currency of your purchase, you may save money from choosing the latter.
Here’s how to do it:
1. During PayPal checkout, choose the card you want to use, then tap Continue.
2. On the next page, PayPal will show you their conversion rate.
3. Tap on View Conversion Options
4. Choose the original transaction currency. The conversion will now depend on your bank’s exchange rate.
5. Proceed with the payment.
Like what you saw in the video, I paid $5.00 but my card’s currency is in PHP. PayPal’s rate is ₱273.81, but my bank charged me this:
I saved PHP5.83.
The higher the amount is, the higher the savings may/will be.
Based on my experience, I always get good rates with our bank than of PayPal.