Ready to start selling internationally? In a few simple steps, you can set up your PayPal Business account to accept payments in foreign currencies and convert them to USD automatically, manually, or not at all.
In this guide, we’ll explore some potential benefits of accepting international payments, as well as factors to consider when it comes to currency and fees in the world of global payments.
There are several reasons businesses may benefit from accepting international payments. Here are some examples:
Let’s explore ways to receive money internationally. First, here’s how to accept international payments to your PayPal Business account.
Follow these steps to get started:
You can choose to convert foreign payments into U.S. dollars automatically or accept without converting for up to 21 other currencies that you can hold in your PayPal account.
Payments received in currencies other than U.S. dollars will be automatically converted to U.S. dollars. The amount is converted at the latest applicable conversion rate and is then credited to your PayPal Business account. International payments are charged a percentage of the transaction amount on top of the exchange rate.
Looking to receive payments made in currencies other than U.S. dollars and hold them in your PayPal Business account? Follow the steps below to update your Preference for receiving payments. The benefit here is you can hold balances in foreign currencies and arrange to convert yourself.
Handling multiple currencies in a business may be complex, but with the right strategies and tools, it can be manageable. Before you start to accept international payments, consider some of these factors:
When accepting international payments, cross-border fees may apply because multi-currency payments generally involve additional costs.
For PayPal international payment fees, there may be a standard fee, plus an additional fixed fee based on the currency of payment. Keep in mind that some fees may apply if PayPal performs a currency conversion to complete your payment.
Learn more about international fees.
Businesses like yours can accept international credit card payments by setting up a payment processing system that accommodates foreign credit cards. Here are a few tips as you get started:
Discover more strategies on how to accept payments from shoppers globally.
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