PayPal Community

I am based in Canada with Canada based PayPal accounts. My USD money is sent to a U.S. bank (TD) and then transferred to my Canadian TD USD account. ... View more

@Gasore  My PayPal is Canadian based (i've had contact with a Canada sales rep for example) and we accept and save both USD and CAD. I withdraw my CAD my TD Can. Tr. Bus. account...that's not the issue. I withdraw my USD balance to my TD Bank (U.S. based) personal account which was setup through TD cross border. This account is a basic U.S. bank based personal checking account. The payment settings were done a good 5+ years ago. I just tried the setup again and here is what i saw (without testing or completing a new setup): Follow the instructions to link a new bank account, select a bank (any bank, i.e. TD Canada Trust...they are all Canadian). On the next page where you would setup the Canadian account, scroll down and select the option that says "Link your bank another way." An option is displayed to link a U.S. bank account with the routing and account number. Good luck! ... View more

@bernk  I am using a cross border account with TD Bank (U.S. based bank). I believe our PayPal account is Canadian based (the last time i spoke with a rep they were specific to Canada). The payment settings were done a good 5 years ago (give or take). When you follow the instructions to link a bank account, select a bank (any bank...they are all Canadian). Select the option that says "Link you bank another way" (towards the bottom). An option is displayed to link a U.S. bank account with the routing and account number, ... View more

My setup is not inline with your posting. My PayPal account is a business account and my US based USD account at TD Bank is a personal account. I have never had an issue sending U.S. funds to this account. ... View more

Yes..it works perfectly for me. I did a transfer about a week ago. I setup my TD Bank (US bank) details on PayPal a few years ago and now have the option to withdraw to either my TD Bank account (based in the U.S.) or to my TD Canada Trust account. The TD Bank is USD personal account and the TD Canada Trust is a CAD business account. ... View more

PayPal policy is clear and consistent. They will only send Canadian dollar funds to Canadian based bank account. If you have USD or EUR or any other currency and want to send it direct to a Canadian account PayPal will do the foreign exchange and show you the Canadian dollar equivalent that will be transferred. The bank will receive the Canadian dollars and apply their foreign exchange to buy whatever non-Canadian dollar currency that account is in. The only way around foreign exchange with USD in PayPal is to transfer to a bank account in the United States or pay USD bills from your PayPal account balance. ... View more

Yes this works perfectly for me and i have been doing this for many years. PayPal customer service responses about what is possible or allowed has differed from agent to agent so I wouldn't go by that. My experience on this is that if you are sending money to your bank in Canada PayPal will transfer it in Canadian dollars even if your account is in USD. If you have access to a US based bank account transferring funds to that account will be in US dollars. I've also had it setup where one of my suppliers provided me with banking information and we were able to pay them as a transfer out from PayPal to their bank. This might require a special relationship though...   ... View more

This is marked as the solution however another option is to open an bank account in the U.S. and have your withdrawals forwarded to that account. If you have U.S. based suppliers, they might also accept the funds to their accounts for payment (if that scenario works for you). In Canada it is PayPal's policy to only send funds in CAD. So if you send to a bank in Canada (USD, CAD or some other currency) PayPal will convert to CAD before transferring the funds, I have been dealing with PayPal for several years and this is clearly their policy, I was told it is because of the type of banking they offer and that they do not qualify to move other funds (I'm not sure if i believe this). It is likely that they don't want to be involved in further foreign currency issues at the final bank step or that they are playing an extremely safe game with interpreting the rules. We all know that PayPal (like other transaction companies) makes a bit off the currency exchange as well.   So transfer to a supplier as payment (you need their banking info). Open a US based bank account (at an actual bank in the United States), some allow this by phone. Transfer into a Canadian account and pay the PayPal exchange rate. ... View more

It works! This is what I do with my US money. ... View more

I’m following and have had this issue for several years now. In order to keep the cash in US funds and avoid the horrible fx rates my only solution was to use TD cross border banking (this opens a US TD Bank account with my Canadian credentials). I then transfer from TD Bank (in the U.S.) to my USD TD CANADA account (no fees for this and you can do up to 5k online or 100k with no questions). It’s a bit annoying and not as clean as a straight transfer but it keeps our cash in the right currency and gives us complete control over when to sell the US funds. ... View more