USD to CAD

Kaarigar
Contributor
Contributor

we are a business based in Canada but our website sales are in usd since 90% of our sales are international. We also have a corresponding usd account with our bank which has been listed on paypal. paypal insists on receiving usd from our clients and paying us in cad. this is a double conversion and does no make sense. we have thus removed paypal from our list.

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2 REPLIES 2

Whac-A-Mole
Frequent Advisor
Frequent Advisor

You have the option to receive US$ and keep them in your Paypal account in US$,THEN you will have 2 Paypal balances.

do this in your account /financial profile/

Since your Paypal account is based in Canada,your local currency is Canadian dollars.

But if you ever want to transfer your US $ to your Canadian US$ denominated bank account,not sure if it is US$ to US$,IF it clears thru your Canadian central bank,must all member banks clear in your country currency or does it accomodate foreign currency?

you can try sending a small amount and see what happens,the worse scenario is that PAYPAL will charge you 3% conversion fee to convert from US $ to Canadian $ and when it hits your bank,your bank will convert it to US$ SO IT can deposit in your US denominated bank account.

try it for $1 and  see what Paypal shows on the screen and come back and tell us.

Another way to handle this would be asking Paypal to send you a US $ CHECK and you take it to your bank and deposit .

This is US forum,many of us are not too familar with Paypal foreign countries  transaction.

You can also ask your fellow Canadian Paypal members  

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Whac-A-Mole
Frequent Advisor
Frequent Advisor

https://www.paypal.com/us/cgi-bin/webscr?cmd=%5fdisplay%2dcountry%2dfunctionality%2doutside&dispatch...

it said you can withdraw to Canadian bank and US bank.

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In some countries,they can transfer t o a credit card and debit card,then it does not go thru the central bank,but looks like you dont have such option 

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