Anyway to avoid my lost on PayPal currency exchanging?

[crhtech]

I import products from other countries and sell them in Canada or USA.But we can only get Cadadian dollars from PayPal "Withdraw".Then I have to exchange it to US dollar to pay my providers.So I lost almost 3.5% right away for the exchanging.
Let's say:
1. I have US$10,000 on PayPal account.
2.I can only get CA$12,900(1.29) from the withdrawing to my bank.
3.Then I exchange it to US$9626.00 to make the T/T payment to my provider.

The US$ is what I really want from the PayPal.But I have to be looked like an idiot to get less money because my bank account is in Canada?

I appreciate if somebody can assist me to avoid the big lost in above situation.


in Canada

[your-chic-shopper]

Swip it threw your credit card at your office . Then you get the banks exchange rate

Also turn on your paypal only ...within your paypal account and you will get 1.9% back from your credit card tranaction

[zarzuella]

You probably need a TD Waterhouse US account. Read this thread on the subject for good tips ...
http://forums.ebay.ca/thread.jsp?forum=44&thread=239996&message=2906640&q=TD+Waterhouse#2906640

[decadesofdesign]

I live in Toronto. last year I drove down to Buffalo to open a US bank account, which works like a dream. Possibly the best thing I have done in 5 years of being on eBay.

Now I can transfer USD online from PayPal into my US bank account for free (there is no fee to do this into US bank accounts) and use my MasterCard debit card for any purchases here or in the US, or withdraw $$$ from any Canadian bank machine. I also got cheques that I can use to draw on the funds. The exchange rate they offer is the best I found.

EBay also gives me a PowerSeller discount for using my US bank account to pay for fees.

Another thing, US Banks are much more aggressive, their customer service has been A1 and they have given me overdraft protection and even a line of credit. They go MILES beyond what any Canadian bank would.

You also need to apply for the PayPal debit card (they offer 1.5% cash back when you use it) and the merchant rate (2.2% fees instead of 2.9%) which will also save you lots of $$$...

These are GOOD tips that took me years to figure out, enjoy!