Why does my currency automatically convert when accepting payments?

smeriksen
Contributor
Contributor

Hey I'm not sure why PayPal automatically converts my funds. I sell on ebay, and when I make sales there I only accept USD. Only US currency makes it into my account through eBay. When I sell off eBay there is a problem. I often sell on other forums and always deal in USD. Half of my customers are American, and the online hobby world works on USD, therefore payments or purchases are always USD. I've noticed that PayPal has been automatically converting my payments to Canadian funds without asking me. Before I would only convert to Canadian funds when I had to withdraw to.my bank account. This is a problem because now when I want to purchase something in USD, I am losing money because all my funds are Canadian, and PayPal gives horrible rates for conversion. Did PayPal switch something on all accounts to make it so you can only accept currencies from your country of origin? Is there a way I can turn this off? It doesn't make sense to me that I can accept USD payments on eBay, and the currency stays USD. But all other payments get converted to CDN. If it matters. I am located in Canada. I use eBay.com for all my selling on eBay ( never use .ca ). The other forms of payments I accept are just other PayPal members sending money. I don't send them invoices, they don't checkout on a website or anything like that. The other member and I simply come to a deal, I give my PayPal address and they send PayPal over in USD currency. Hope someone has some answers for me because this is very frustrating. Thanks

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brownbuster2
New Community Member

It's a total scam. They make more money by converting currencies. I stopped using Paypal for most transactions.

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