There are lots of cheap and quality goods on China taobao 1688 as well as other online shopping websites, however, payment is a big issue as those Chinese online shopping site doesn’t support paypal and other payment methods, thus there are many taobao agents, Alibaba agents and 1688 agents online to help you buy and ship from China. But currancy rates is another concern as paypal only receive USD currency and the agent should convert into Chinese Yuan to buy and ship goods from China, if you use Canada USD, EU, Pounds or Australia USD etc, Paypal need to exchange into USD then exchange into Chinese Yuan, the currency cost is also big money if you buy goods frequently from China online shopping websites. How to save money when shopping from China Taobao 1688 via Paypal? Taobao Agent JFBees listed a method to help you save the currency rates on paypal.
When it comes to paypal currency rates you may have several questions, How to calculate paypal currency rates? Did it base on the bank currency rates or its own rates? Actually you can login Paypal then check “Manage Currencies”under the cash amount then select your currency to exchange USD currency, you can calculate the currancy rates based on the difference. But if you pay via credit card the true currency rates is based on your monthly credit card bill.
Due to the paypal currency rates is high, if you exchange currency via your bank directly then pay via paypal you could save a lot of money if you frequently shopping from China. This feature is hidened in paypal which you may not aware. Here we will reveal the currency exchange tricks in paypal.
- Login paypal then select Profile and settings in the upper right corner. Click the Financial information and find My preapproved payments.
2. Click update behind My preaaproved payments and Set available funding resources;
3. Click Conversion Options;
4. Select Bill me in the currency listed on the seller’s invoice and submit.
Done! The two options only related to the currency rates you pay to Paypal, the agent will receive the same USD for the goods you need to pay. You can get more money saving tips via JFBees if you need to buy and ship cheap and quality goods from China.