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  1. #1

    Question Canadian account with PayPal - anyone?

    I am based in Canada and would like to use PayPal to receive credit card payments from my mostly US based customers in $US using my regular chequing account. It is my understanding that once the money is received in US funds it will be automatically deposited into my account in $CDN using the current exchange rate and will be available to me immediately. There is no service charge from my bank for any of my PayPal transactions.

    Since I couldn't get a clear answer from neither PayPal nor my bank, could someone using PayPal with a Canadian account confirm this for me, please?

    Thanks a lot in advance.

  2. #2
    Join Date
    Nov 2001
    Location
    Canada
    Posts
    1,963
    u get charged $0.55 for the withdraw to ur bank
    and it is in cdn funds
    takes 5-7 days

  3. #3
    Join Date
    Nov 2001
    Location
    Singapore
    Posts
    766
    Not really. They will charge you to make the deposit (US$1.50 for non-US deposits), and your bank MAY charge a fee for receiving wire transfers, which is what the deposits are technically. My bank charges S$5 to receive wires, some banks more, some banks less.

    Oh, and they will give you their own exchange rate too. Let me quote you mine. When the US$1 = S$1.77, what does Paypal give me?

    US$1 = S$1.70 - a whole 7 cents less. Granted it isn't much, but do the maths and you'll figure that for every US$100 I withdraw, I lose S$7, not including Paypal fees and my banking fees.

    Go figure

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