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Received PAYPAL new Conversion fees Policy Update notice. I wish I could get more info on the subject, but website only provides a brief description but does not go into explaining what would constitute a currency conversion. Living in Canada almost everything we transact over the internet these days is done in USD. Straight forward transactions in USD I understand..however, in some cases we receive invoices from businesses based in the US that send us CND currency but learn PAYPAL needs to convert it to USD before paying it out. Does this mean I get charged the new 3.5%? This will put a strain in how we use PAYPAL in the future..may lead us to cancelling or not using PAYPAL altogether...what other options are available?
I'm sorry to hear about the difficulty with the businesses that you transact with. If the businesses are invoicing you in USD and your payment method is utilizing CAD, the conversion would happen on your side and the fee would be charged to you. If you have a USD balance, you would be able to use that balance to make the payment without conversion.
I hope this helps!