Changing my payouts from CAD to USD

Summary: curgraded.store wants to switch their eBay payout currency from CAD to USD, as they sell exclusively in USD on eBay.com and face unfavorable exchange rates during conversion. They have set up a USD account with a Canadian bank but encountered issues with eBay's microdeposits not going through, potentially due to currency mismatches. mrdutch1001 and pjcdn2005 suggest that the change might have been set during initial system registration and that starting a new ID may be necessary, which curgraded.store finds unsatisfactory as it would reset sales data and limits. curgraded.store noted mixed responses from customer service and sought further intervention, mentioning another thread where escalation helped. kgtoys_partysupplies and reallynicestamps shared their disappointment and advice on listing respective items to progress.

I'm looking to changing my payouts from CAD to USD. I sell exclusively on Ebay.com and buyers pay in USD. However, payouts to my bank are sent as CAD after a foreign exchange conversion from USD. And of course Ebay skims some % on top as well as gives you the worse exchange rate.

I'd like to receive USD as a payout now to avoid this uncessary USD to CAD conversion. I have a USD account set up with a Canadian bank and I've tried to change my payouts on my Ebay payments setting to have money deposited to this USD account. However, no luck as the microdeposits aren't going through - likely due to Ebay sending CAD to a USD account.

Can anyone confirm this is still an issue with Ebay? I read once you choose a currency payout (USD or CAD) at registration you can't change it back. How STUPID. Surely a million dollar platform can find a solution to this. Community posts dating back to 2021/2022 also seem to suggest this.

curgraded.store

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Posted 2 years ago·Last reply 1 year ago

7 comments

curgraded.store

OP2 years ago

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Saw this helped with another thread where it was escalated to someone beyond the customer service agents.

@devon@ebay any ideas?

kgtoys_partysupplies

·1 year ago

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In a similar situation, but haven't sold anything yet. Terrible.

reallynicestamps

·1 year ago

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In order to sell, the first step is to list.

pjcdn2005

·2 years ago

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Unless they have recently changed it, you woukd have to start a new ID to change your payout currency.

curgraded.store

OP2 years ago

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Right. But isn't that such a terrible solution? Unless Ebay is able to port over all my sales transactions, selling limits etc, it's like starting all over again...

mrdutch1001

·2 years ago

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I believe you would have had to set that up with your initial entrance into Managed Payments...not that easy to do after the fact...

curgraded.store

OP2 years ago

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I don't even recall of making that choice ever. I've been getting mixed responses from customer service; from it's possible to it's impossible. I think it's just ridiculous that it's not possible to switch over. Seems like a technical issue that can be solved if someone really tried.