New Canadian Seller and Curious About PayPal & Conversion Fees From Customers in USA

[wicks-n-suds]

Hi,

I’be been researching on how to sell on EBay and aware of the EBay fees but a little confused about the PayPal fees.

My question is:

Is it 3.7% for a Canadian seller to receive funds from the USA PLUS a conversion fee of 3.5% or is the conversion fee included in the 3.7% fee?

Thank you in advance

[ypdc_dennis]

2.9% PayPal fee (plus 30 cents) for sales to Canada

3.7% PayPal fee (plus 30 cents) for sales to the USA

3.9% PayPal fee (plus 30 cents) for sales to the rest of the world

Sales on eBay.CA are in Canadian $.

Buyers outside Canada pay for any money conversion.

Sales on eBay.COM are in US $. Have a US balance set up or PayPal will charge a fee to convert to your Canadian $ balance.

PayPal allow you to keep your money in 20 or so currencies.

Make sure to set up balances for those currencies that you use. This avoids a possible immediate conversion fee when selling/buying (which is 0.5% higher than if you do the converting between balances).

https://www.paypal.com/myaccount/m%oney

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[wicks-n-suds]

Thank you for the quick response!

[femmefan1946]

You can use the US dollars in your PP account to buy from US sellers (not just on eBay).

If you have a fair amount in your US balance, you can move it to your Canadian bank.

• Keep an eye on the exchange rate, sometimes you can make or lose a loonie or two on that alone.
• If you move the US balance to your US dollar Canadian bank account, you will pay exchange twice.

[wicks-n-suds]

Thanks so much for the info! I’ve read your archived posts when I was researching and your advice was very helpful. Much appreciated!

[tryubik-useonlyasdirected]

Thanks @ypdc_dennis ! Being aware we can have more than USD & CAD set up in PayPal will help a great deal...  assuming we ever open for business again, and make an International sale of course. 

[reallynicestamps]

ZOMBIE POST

The problem with zombie posts is that the information in them may be out of date.

Inthis case, eBay is ending direct Paypal payments and implementing their own Managed Payments system, which at this time only allows one Canadian bank account in Canadian dollars.

Search for Managed Payments and look for the June 4 and May 28 Weekly Chats which talk about this extensively.

@tryubik-useonlyasdirected 

[pjcdn2005]

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@tryubik-useonlyasdirected wrote:

Thanks @ypdc_dennis ! Being aware we can have more than USD & CAD set up in PayPal will help a great deal...  assuming we ever open for business again, and make an International sale of course. 

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And assuming that you won’t be required to be in the Managed Payments program when you do start to sell.

Also,  for selling you are always paid in the currency of the website that you list on so if you only sell on .ca and on .com, those are the only currencies in PP that you need to ‘hold’.