Paypal Currency Conversion US$ <> CDN$

[tickets365]

I sell about 50% of my items to US, using ebay.com rather than ebay.ca. So I receive payment via Paypal in US Dollars rather than Canadian Dollars. However, upon 'withdraw' from my Paypal account to my Canadian Bank Account, I notice the exchange rate on Paypal is often 3-5 percent lower than the "real" exchange rate at the time.

It doesn't seem much per withdraw, however, overtime, I'm losing hundreds of dollars just withdrawing my money. In addition to Paypal fees and Ebay fees, my total Ebay costs is around 10-12%.

Anyone experiencing similar frustrations??

[zarzuella]

Check some of the prior posts; this has been covered in some depth.

[3jcc14]

Check the post on Canadians opening a USD Account in the USA. IF you can do that, it may be beneficial for your situation.

[sportscardcartel]

why not open a USD account in canada, and transfer from paypal to that account?

[jakeeangel]

Because it is NOT possible to do so. Canadian banking regs prohibit this. PayPal therefore cannot/will not do it.

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