Even though Nigeria is officially allowed to use PayPal, you are only allowed to buy goods online and send money. You can’t receive payments with a Nigerian PayPal account, and this is why I use my US PayPal account mostly for transactions. I have a Payoneer card linked to my US PayPal account, and I do fall back to it when I’ve got no fund in my PayPal balance.
For some reasons, Paypal assumes my Payoneer card (which is actually denominated in USD) is in GBP. For this reason, PayPal does some weird conversion which often gets my account overcharged. For instance, I could be paying just $50, but PayPal might end up deducting up to $57 from my Payoneer account.
This went on for a long time until I found out a simple fix could stop it. If you’re experiencing this issue, here’s how to stop being overcharged.
1. At the point of purchase, be sure to look for conversion options.
2. Click on this and choose to convert with card issuer. The default is likely to be Convert with Paypal. you should change this.
3. Click agree and proceed with your purchase or payment.
With this you shouldn’t get overcharged, the exact value in USD should be deducted from your Payoneer account once you convert with card issuer. Once you allow PayPal to do the conversion for you, just know they’re going to take a little extra.
