Depositing USD into USD account possible still?

[mcjerjer]

So I have a Canadian paypal account, but all my funds are always in USD. I end up losing so much by withdrawing into Canadian dollars again. I currently have a USD account with my bank, but I remember reading in the past that withdrawing into this account was not possible.

Unless the bank account is physically in the US?

Can someone help with this? Thanks

[GreenBean]

Que?

US bank accounts can be attached to paypal accounts in other countries.
Doing that should resolve your trouble... if I understood you

[MM78]

Originally Posted by mcjerjer

So I have a Canadian paypal account, but all my funds are always in USD. I end up losing so much by withdrawing into Canadian dollars again. I currently have a USD account with my bank, but I remember reading in the past that withdrawing into this account was not possible.

Unless the bank account is physically in the US?

Can someone help with this? Thanks

Very confusing, let me ask a few questions,

1. Do you have a Canadian OR USA Paypal?
2. Do you have a Canadian OR USA Bank Account?

Let's start there because I'm confused like hell.

[mcjerjer]

Okay. I thought i explained that in my post but i'll try to explain it again.

-I have a Canadian paypal account

-most funds coming into the account are in USD (ebay for example)

-my bank account connected to the paypal is Canadian and when i withdraw my usd, it converts to Canadian dollars into my bank account.
-you lose to the ****ty paypal exchange rate...

I want to somehow withdraw to a usd account somehow. I have a usd account setup with my Canadian bank, but i dont think paypal will allow me to withdraw the usd into this account since the bank is still im Canada

[MM78]

Ok, you want to keep the funds in your Canadian Paypal in US Dollars. Now I understand, I have no idea on how to do that! sorry. What's Paypal's conversion from U.S. Dollar to Canadian?

According to the following website XE: (USD/CAD) US Dollar to Canadian Dollar Rate

The exchange rate is 1.00 USD = 0.972287 CAD. Are you loosing more than .03 cents per Dollar with Paypal?

[BiN4RY]

Take a look at this thread that I created:

http://www.aspkin.com/forums/subscri...aypal-usd.html

[mcjerjer]

When I transferred today, it was 0.94

Paypal fees, ebay fees, and a crap exchange rate? Ughh when does it stop!!?!

Thanks for the above link. Will check it out! I feel many would benefit from this thread!

[rsot]

1. Either get USD bank account in real US bank.

2. Go for RBC USD bank account

[mcjerjer]

Thanks! I will do just that RBC here I come!

[mcjerjer]

Umm...why did that thread disappear? I need that! ...grrrr

So I made 2 accounts today. One RBC USD account on the Canadian side, and one on the US side. This will allow for free cross-border transfers.

Which one am I supposed to link with Paypal? I'm guessing the USD account in the US.

[Mauriciovsky]

hi there, i also have the same question,

since im stuck with scotia, their usd account is still canadian bank, paypal exchange rates are total ripoff

[baloch]

the way i did it before was to get a RBC US Funds account but for that you are still paying annual fee which does not work if you are gonna use it to purchase things in Canada as then you will incur fees and exchange rates to convert the currency from US to CA as the RBC US Card works best if used in the US to purchase things but you will be charged tax on return so no point.

The best way is to withdraw the US funds directly to the bank without converting and the conversion rate shown before you hit submit changes everyday so I just wait until it is near even and just withdraw. You are dealing with US company and US funds so a small lose is guaranteed.

[rsot]

Avoid pp exchange currency rates at ALL costs. Horrible