Forced exchange conversion is unacceptable FEES!!!!

[srt8dunk]

As a Canadian, I am trying to transfer USD monies into my USD account at a Canadian Bank. I am a newbie and have received inconsistent information at best from PayPal service agents who admittedly are located in the Phillipines and might not understand why a Canadian would have a USD account in a Canadian Bank. Trying to outline this scenario was an absolute gongshow.

When I transfer money out of PayPal I MUST receive it in CAD only. This is absurd. Paypal pays me 1.31x on the conversion and the bank charges me 1.37x for the same. So, 6% which is outrageous.

PayPal service agents beat around the bush saying "oh yes it will go to your account, but it's converted first, then converted back...you'll still get the same USD amount but its converted to Candian and the back to American dollars but then it goes into the account....." AROUND and AROUND and AROUND we go! No straight answer. No qualified advice. Ridiculous.

I will never use PayPal again unless this obvious flaw is corrected.

[kernowlass]

ok

[Milkman2100]

I agree this is pretty obnoxious. If they're going to have hidden fees, outline them in a receipt, don't just let money disappear into the system like scummy thieves. Everyone charges to convert money, but NO ONE charges upwards of 5% of the transfer.

[BaRRmaley]

It's impossible now to turn off Paypal's conversion.

I'm in Ukraine and I have USD VISA card. It was possible earlier to make payment directly in USD, but now I have to pay in UAH, so my bank will convert USD to UAH and after that Paypal will convert from UAH to USD.

I've turned off Paypal currency conversion in settings, but it's still here.

Help! I will not pay additional fees!

[rroader94]

All I can add is that I've known for years that a Seller in Canada CANNOT transfer US dollars from PayPal directly to his/her US dollar account in a Canadian bank.   Where practical a Canadian can open an account in a USA Bank depending on what you're trying to accomplish.    One reason might be to lessen your PayPal balance and yet retain your US dollars in a Bank where some feel it's safer. Or, convert the US to Canadian in PayPal then move it to your Canadian bank account in Canadian dollars.  There is a exchange COST when it comes to buying and selling currencies and I agree that it can be 5 or 6 cents on the doillar.