
How to Change Currency on PayPal
Learn how to change currency settings on PayPal in the UK, hold multiple currencies, and avoid conversion fees.
How to Change Currency on PayPal (UK Guide)
If you're using PayPal for international transactions—whether for shopping, invoicing, or sending money abroad—you may want to change your default currency. PayPal allows you to hold, convert, and receive multiple currencies, but the process can be confusing without guidance. This UK-focused guide explains how to manage currency settings on PayPal and what to watch out for regarding fees and conversion.
Why Change Currency on PayPal?
You may want to change your PayPal currency settings if:
You're sending or receiving money in a foreign currency
You're getting paid via PayPal for freelance work or ecommerce
You're shopping internationally and want to control conversion costs
You want to hold balances in multiple currencies
How to Add and Manage Currencies in PayPal (Desktop)
Log in to your PayPal account via a desktop browser (not the mobile app)
Go to the “Wallet” section from the top menu
Click “More” or “Manage currencies” near your PayPal balance
Choose “Add a currency”
Select the currency you'd like to add (e.g. USD, EUR)
Click “Add Currency”
You can now hold balances in multiple currencies within your PayPal account.
How to Set a New Primary Currency
If you want to make a different currency your default for future payments:
Return to the Manage currencies page
Click the three dots next to the currency you want to set as default
Select “Make Primary”
Future payment requests or invoices will now be issued in that currency unless otherwise specified.
How to Convert Currency in Your PayPal Balance
If you’ve received money in one currency and want to convert it to another:
Go to your Wallet
Click on the balance in the currency you want to convert
Select “Convert currency”
Choose the currency to convert to (e.g. GBP)
Enter the amount and review the exchange rate
Confirm the conversion
PayPal applies its own exchange rate margin, so always review the rate before confirming. It’s often slightly less competitive than bank or FX rates.
How to Change Currency During Checkout
If you're shopping on a site that accepts PayPal and billed in a different currency:
On the checkout page, choose PayPal as your payment method
Before confirming payment, click “View currency options”
You may be given the choice to:
Pay in the seller’s currency (e.g. USD)
Let PayPal convert the amount to GBP
Choosing to pay in the seller’s currency and letting your bank handle the conversion often results in lower fees—especially if you use a card that doesn’t charge foreign transaction fees (like Revolut or Monzo).
Tips to Avoid Unnecessary Fees
Disable PayPal’s auto-conversion by selecting “Bill me in the currency listed on the seller’s invoice” when possible
Use a multi-currency bank card if you’re billed in foreign currencies often
Consider receiving foreign payments directly into a GBP balance to avoid conversion
FAQs
Can I hold multiple currencies in PayPal at once?
Yes. You can add and hold balances in several currencies simultaneously.
Can I receive money in a currency I haven’t added yet?
Yes. PayPal will notify you and give you the option to accept and convert or accept and open a new balance in that currency.
Does PayPal charge for currency conversion?
Yes—PayPal applies a currency conversion spread, typically 3–4%, on top of the base exchange rate.