Direct deposit question for canadians

[danpag83]

I was referred to this subforum by another member, not sure if this is the correct place.

I'm trying to set up my ebay account with my bank since they no longer accept pp but want to make sure that i'm not going to get charged conversion fees repeatedly.

if my pp account has a base currency of usd, should i be linking my ebay accont to an american chequing account? or in other words will i be charged conversion fees repeatedly if i choose to use my normal canadian chequing account?

[pjcdn2005]

It appears that you aren't posting with your seller account so I can't tell where your normally list but if you list on .com and want your payouts in $US dollars, you may want to link your account to a $US account at a Canadian bank.  MP does not allow you to link your account to a US bank account, it has to be with a Canadian bank ...either a $C account or a $US account.

If you list choose to have $US payouts, all of your payouts wil be in $US which means that if you list on both sites, even your .ca sales will receive payout in $US so those sales would have to be converted before they went into your bank account and there would be conversion fees.  Once you choose your payout currency, it cannot be changed on that ebay ID and you can only have one payout currency per ID.   

[femmefan1946]

I'm starting to think that for sellers who use both currencies, the only answer is to have two accounts

• one that lists only on DotCA and feeds a Canadian bank account in loonies
• and another which lists only on dotCOM and feed a Canadian bank account held in US dollars.

What a pain.

[lotzofuniquegoodies]

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@femmefan1946 wrote:

I'm starting to think that for sellers who use both currencies, the only answer is to have two accounts

• one that lists only on DotCA and feeds a Canadian bank account in loonies
• and another which lists only on dotCOM and feed a Canadian bank account held in US dollars.

What a pain.

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For the seller it's determining if the advantages outweigh the costs of higher selling fees on dot com compared to dot ca, the cost of a second store, the loss of builtup feedback for 1 store if you listed on both vs fees for any exchange?

Maybe you can multiply something by 3.14 for an easy, less painful answer? 🙂 Now I want pie!!!

-Lotz

[ypdc_dennis]

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@danpag83 wrote:
...  will i be charged conversion fees repeatedly if i choose to use my normal canadian chequing account?

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If you go with Canadian $ for Managed Payments payout, any sales in US$ will be converted (with a 3% fee build into the exchange rate).

Selling on ebay.COM (US$) versus selling on ebay.CA (Cdn$) is 0.2% more expensive for most categories. Media (books/dvds/cds) categories are 2.2% more expensive. The USA rates were increased 0.2% in the Spring 2021 update (Canada rates remained unchanged).