Selling in USD
Summary: burnaby_sue questions why their eBay listings in Canada default to Canadian dollars and seeks advice on selling in USD, despite residing in Canada. byto253 suggests listing items on eBay.com to conduct sales in USD while using managed payments to select a preferred currency for receiving payments, either in USD or CDN. They note the advantage of controlling currency conversion timing and rates, offering insights into why many Canadian sellers opt for USD, including marketing strategies and managing foreign currency conversions. reallynicestamps later highlights that sellers can list on any eBay site depending on the desired currency and warns about the potential currency exchange fees, while also discussing how sales and conversions happen for international buyers. atbi_w248 inquires about choosing the currency option during sales, expressing confusion about currency options in personal or business accounts.
When I first started out on eBay over 20 years ago it was on the eBay.com site. At that time I listed and got paid in USD. I live in BC Canada so over the past couple of years my listings are automatically directed to the eBay.ca site. All listings are done in Canadian funds. I have contacted eBay several times but have gotten no where. Why are there so many Canadian Sellers selling in USD when they reside in Canada. Many live miles away from our International border which just re-opened Nov.8th. Can anyone explain this or have a way I can sell in USD even though I reside in Canada. Thanks, Sue
byto253
·4 years agoYou can choose to list on .com or .ca, or both at the same time. It all depends on which site you choose to list from. If listing on .com you will be selling in US$. If listing on .ca you will be selling in CDN$.
However, with managed payments you can choose to be paid in EITHER US$ or CDN$, regardless of which site you list on.
I choose to be paid in US$. My listings are mainly on .com, but I do use .ca at times. The .ca sales are in CDN$ but the funds are converted into US$ by Ebay so that I receive US$.
The choice is yours. I would recommend getting paid in the currency you mainly list in. i.e. .ca in CDN$ if you want to get paid CDN$. That will minimize the foreign currency conversion affects.
As to why a lot of sellers choose to list in US$, there are many reasons. It can be marketing, to match the currency with the market to minimize the foreign feel of a listing. Many people have use for US$, whether for buying items or travel and we can now get US$ deposited directly into a US$ bank account for easy access.
Also, even if converting US$ to CDN, by having US$ in you bank account you control when and where it gets converted. There are better options for converting funds from US to CDN$ than the standard bank or Ebay rates.
atbi_w248
·3 years agoI am curious how did you choose to pay with USD$. Do you selling in business account or personal account? Cuz I don’t see the option to let me choose the currency
Thank u
reallynicestamps
·3 years agoZOMBIE THREADFROM 2021.
The problem with zombie threads is that the information or advice may be out of date or otherwise inaccurate.
Sellers don't have an option to change currencies.
But we can sell on any eBay site around the world using the currency of the site.
Listing on dot CA allows us to list in loonies*.
Listing on dotCOM allows us to list in US dollars.
Listing on dotDE (Germany) allows us to list in euros.
Listing on dotUK allows us to list in sterling.
When our buyer in the US buys our listing on dotCOM, he pays in USD.
But the payment will be transferred to our checking account with a Canadian bank.
And if that account is in loonies, there will be a currency exchange fee.
We can set up our Managed Payments account, once, to pay into a US dollar chequing account with our Canadian bank.
So.
We list on dotCOM in USD.
The American buyer pays in USD.
EBay exchanges the US payment into loonies and transfers it to our checking account held in loonies.
OR
EBay transfers to our checking account held in US dollars. (There may be a currency exchange fee from the bank- USD->loonies->USD.)
Wanna get complicated?
A German buyer sees our dotCOM listing on dotDE (because we gave a shipping price for Germany).
He pays in euros.
The payment is changed to USD.
Then eBay transfers it to our checking account which is held in loonies.
*And to use Calculated Shipping, but that's another story.