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How can I use PayPal to manage multiple currencies?

You have the option of holding multiple currencies in one account. You can:

  • Open a balance in any of our supported currencies.
  • Make or accept payments in multiple currencies.
  • Close out your balance in any currency.
  • You can designate a primary currency – that’s the one you use most often for sending and requesting payments. It’s also the currency that defines your sending and withdrawal limits.

When you buy something that’s for sale in a currency you hold, we’ll take money from that currency balance first. If there’s not enough money in that currency, we’ll use your primary currency balance and apply our exchange rate.

To see all the currencies we support, go to our currencies page.

Following the elimination of the currency conversion function in Israeli PayPal accounts, you can choose to receive future payments only in Shekels.

Here’s how to set your payment receiving preferences to receive future payments only in Shekels:

  1. Go to www.paypal.co.il and log in to your account.
  2. Click Profile near the top of the page.
  3. Click Payment Receiving Preferences under ‘Selling Preferences.’
  4. Under ‘Allow payments sent to me in a currency I do not hold’, tick the box next to ‘Yes, accept and convert them to Israeli New Shekels’.
  5. Click Save.

In order to receive your future payments only in Shekels, you’ll have to close all other currency balances in your PayPal account. Make sure to withdraw any money left in the currency balance before closing it.

Here's how to close a currency balance:

  1. Go to www.paypal.co.il and log in to your account.
  2. Click Profile near the top of the page.
  3. Click Currency Balances under ‘Financial Information.'
  4. Select the currency you would like to close.
  5. Click Close Currency.

A confirmation should appear under “Manage Currencies” confirming that: ‘You have successfully closed your (selected currency) balance’.

 

 

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