How to Change your Default Payment Method on PayPal

Overview
Keep in mind that when people use PayPal, they can access more than one linked card or account. Of course, it is optional to add various debit and credit cards and banks to the PayPal account. But adding various accounts to PayPal allows you to select a payment method and checkout time.

However, choosing or managing which payment comes out of which bank account becomes confusing. Also, when it comes to switching payment methods, PayPal’s interface does not make it too obvious. It is especially true when you are using an app.

If you can relate to this and are looking for relevant information to change PayPal’s default payment method, we have you covered. We’ll also talk about how you could save money when dealing with international payments in different currencies using Wise Business.

However, before you can change the default method in PayPal, let’s have a brief overview of this electronic alternative payment system.

PayPal Payment Methods

As mentioned above, PayPal is an electronic alternative for sending payments by using a wide variety of methods. These can include bank accounts, PayPal Cash, account balance, debit or credit cards, PayPal Credit, and rewards balance.

How Does Selection of a Preferred Payment Method Work on PayPal

The feature that makes PayPal the best money sending platform is its variety of payment methods. That means, with PayPal, choosing any payment methods (mentioned above) is extremely easy. In fact, you can select any payment method in account with this money transferring service as the preferred method. All you need to do is select your option in your payment section of the account setting.

Once you choose a method, you can see it as a preferred payment option when you purchase in-store or online. You can also see this setting when sending money through services. You can choose different payment methods for in-store and online transactions based on your preference.

Many people like better selecting preferred payment methods for in-store transactions. It allows them to make purchases with it when they don’t have money in their PayPal Cash Plus or PayPal Cash account balance.

However, if you don’t want the preferred payment method, it is still your choice. There are situations when you cannot use the preferred payment method.

For instance, if you choose to pay with your credit card and your card already has expired, you might not be able to pay with this preferred payment method. Also, the third-party website you use to precede transactions can limit the availability of payment methods.

If a user has not chosen a preferred payment method, or it is unavailable to him, PayPal shows all the available methods. It may include the payment methods a user has used the most or made payment recently during the transaction.

Changing Default Payment Method on PayPal

PayPal allows you to change the default payment method. Whether you use PayPal Cash Plus, credit card, debit card or reward balance, you can easily select any one you want. For instance, if you are paying for a subscription via PayPal account and want to change, you can do so with your PayPal dashboard.

Take a look at these steps to change the PayPal default payment method in your account.¹

• You need to log in to PayPal account
• Go on the setting icon right on the top of the main page. Click it and scroll down
• You will see “Preapproved payments” in the payment setting; click this option
• Preapproved payment will show you the different names of the merchants. Click the one for changing the agreement you like to make payments with.
• Go down on the page and click “Change” in your payment method section.
• Click on the payment method you would like to use for your payments.

Summing Up

In a nutshell, you can always opt for better payment sources on PayPal. Knowing how to change the default payment method in the PayPal setting will give you peace of mind to use the account anytime. And you don’t have to hop around online retailer payment accounts.

However, if you are new to the money transferring platform, you might find switching to other payment methods overwhelming. Thus, the given details can help you change the PayPal default payment method. With this flexibility, you can use it to make payments anywhere.

If you’re dealing with payments or receivals in different currencies, consider using Wise Multi-currency account to take advantage of their real exchange rate and conversion fees that are up to 14x cheaper than PayPal. With Wise, you can make payments via the multi-currency debit card, direct debit and bank transfer.

Start saving today with Wise

*Disclaimer: The UK Wise Business pricing structure is changing with effect from 26/11/2025 date. Receiving money, direct debits and getting paid features are not available with the Essential Plan which you can open for free. Pay a one-time set up fee of £50 to unlock Advanced features including account details to receive payments in 22+ currencies or 8+ currencies for non-swift payments. You’ll also get access to our invoice generating tool, payment links, QuickPay QR codes and the ability to set up direct debits all within one account. Please check our website for the latest pricing information.