Managed Payments for Canadian's selling on Dot Com with USA Bank Account

[*technics1200s.com*]

I am a Canadian selling on Dot Com and shipping out of NY State.

Since we started we sell in USD and have proper documents to operate in the USA. This means that PayPal or our USA located USD Bank does not withhold any of our funds. It is simple, by registering the IRS knows your business and simply send it to the CRA for tax filing comparison. If your honest this should not be a problem.

The reason we like it is that the USD funds we sell in go's into either our PayPal USD account or our bank account int he USA in USD. We can then purchase items in USD such as supplies etc and not take the double hit of exchange.

Further we choose when we would like to exchange the funds from USD to CAD depending on the rates.

For the longest time I have been going back and forth with eBay regarding selling in USD and sending the funds to my USA USD Bank. They said it is not permitted. Sadly this would be forced upon us with Managed Payments.

So under Managed Payments when you sell something in USD it is automatically converted to CAD (at Ebay's non negotiable rate), then if you wanted to purchase something in USD once again you are hit with a exchange rate. So you loose both ways.

To date we have only been told sorry that is the way it is. We can not let you send your funds in USD to your American Bank. Thus keeping the funds in USD until we decide to exchange it.

Out of no where we got this email message from eBay...

Thanks for registering for managed payments! We've identified your business as one that likely sells to the US or on the US site directly. We understand that you may currently get paid out in multiple currencies, which is not currently supported with managed payments. As a result, we've delayed your activation for managed payments while we work on a solution. In the meantime, you can continue selling as usual. Our goal is to make this transition as seamless as possible and we will only activate your account for managed payments once the available features match your business needs.

I hope something positive will come from this.

[reallynicestamps]

Two of my accounts were being forced into Managed Payments and I have been whining about it for weeks.

Today I got the same Message on both accounts.

So ... we'll see where this goes.

My biggest complaint about MP has been that they don't seem to understand that we may have good reason to have multiple bank accounts attached to our payment processing account.