How to accept foreign payments with your PayPal Business account.

Jul 30 2020 | PayPal editorial staff

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.
Here’s how to accept international payments to your PayPal Business account. You can choose to convert foreign payments into U.S. dollars automatically or manually.

Convert foreign payments automatically. 

1. Log in to your PayPal Business account. Click Profile, then select Profile Settings.
2. Click on My Selling Tools. Then, select Update on the Block Payments line.
First, make sure this box is unchecked to allow PayPal account holders from other countries to pay you online.
Every time a sale is made, the foreign currencies are converted at the latest conversion rates and credited to your PayPal Business account in U.S. dollars. Or, you can choose to convert them manually yourself at every transaction.

Convert foreign payments manually. 

When you choose to approve each foreign currency conversion manually, we’ll notify you each time you receive a foreign payment.
1 To approve the transaction, select Activity from the main menu. Look for the pending payment in the transaction list and click Accept.
2. Select the Accept this payment, convert it to USD, and then click Submit.
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.

Hold payments in foreign currencies.

You can hold balances in foreign currencies in your PayPal Business account. Payments made in these currencies are no longer converted to U.S. dollars, but instead are kept in the foreign currency. The benefit of this is that you can arrange conversion yourself, anytime.
1. To do this, select Money from the main menu.
2. Click on Manage Currencies.
3. Select the foreign currency you want to hold and then click Add Currency.
A separate currency balance for Euros is now set up in your PayPal Business account.
And that’s it. You’re now ready to accept and manage international payments.
The contents of this site are provided for informational purposes only. You should always obtain independent, professional accounting, financial and legal advice before making any business decision.

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Frequently asked questions.

You can transfer some or all of your PayPal balance from one currency to another.

Here's how to convert your balance to another currency:

  1. Go to Money.
  2. Click Convert currency below the currency you want to convert.
  3. Enter the amount you want to convert to and click Next.
  4. Review the information and click Transfer.

Here’s how to select a currency for your primary balance:

  1. Go to Money.
  2. Click Make primary under the currency balance you want to make primary.

Your primary balance is your default currency. Your default currency is used to send and request payments.

PayPal Key is a virtual card and a new way to use your PayPal account anywhere cards are accepted online. You can use PayPal Key like a card at any online merchant that accepts Mastercard – even those that don’t have a PayPal button.

Here’s how PayPal Key works:
  • Choose a payment method from your PayPal Wallet
  • Receive a secure PayPal Key with its own virtual card number, expiration date and security code
  • Save the PayPal Key to your browser for faster checkout or use it as you would any card online
  • Take PayPal Key anywhere you shop online
PayPal Key is not new credit card so there’s no lengthy application or credit check. Plus, you won’t pay any set-up or usage fees*. PayPal Key is your PayPal Wallet with greater flexibility.

*A foreign transaction fee applies to cross-border and cross-currency transactions. Usage fees charged by merchants or other entities besides PayPal may apply.

You can add your PayPal Key to:
  • Web browsers (Google Chrome, Safari, Internet Explorer)
  • Google Pay (online only)
Currently, PayPal Key does not work with Apple Pay or Samsung Pay.

You can use your PayPal Key to:
  • Shop at any U.S. and non-U.S. merchant that accepts Mastercard
  • Buy over the phone (just give the merchant your virtual card number, expiration date and security code)
  • Earn points in the same way you would with any card in your account

  • Your PayPal Key represents your PayPal Wallet, so you won’t be able to add it as a separate payment method on your account.
  • PayPal Key is not available for “buy online, pay in store” purchases.
  • PayPal Key is powered by Mastercard and works wherever Mastercard is accepted. You'll see PayPal Key purchases appear as Mastercard purchases on your receipts and you may also see the Mastercard logo when you’re shopping online with PayPal Key.
  • If you need to open a dispute for an item purchased with your PayPal Key, please visit our Resolution Center

PayPal Key is a new product and will be available to more customers in the near future. If you don’t see the PayPal Key option in your account or in the app, please know we’re working hard to bring the product to customers like you. 

Can I use PayPal Key outside US?
PayPal Key is available to only US consumers at this time. US consumers can use it at all online merchants in the US or internationally if a merchant accepts MasterCard. 

Where will I get my refund if I’ve already deleted the PayPal Key since I made the purchase?
 Yes, you will get your refund back to your original payment method. If we’re unable to send the money back to the original payment method, we’ll send it to your PayPal balance. If you made the purchase using your balance with PayPal and another payment method, we’ll apply the appropriate amount back to each payment method.

Does PayPal Purchase Protection still apply when I use PayPal Key?
Yes, PayPal’s Purchase Protection program applies to eligible PayPal Key purchases.

PayPal doesn’t charge any fees to set up or use PayPal Key. Purchases in foreign currencies and purchases made from non-U.S. merchants are subject to foreign transaction fees.

Please visit our Fees page for more information.

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