OT: Paypal Bank account question

[aaronlo]

Any help here would be appreciated...emailed the paypal people too, but if anyone here knows that would be nice.

Anyways...recently opened up a USD savings account at my branch here in Canada because of a lot of payments i get in US money.

Ive added this account to my Paypal profile, but was wondering if transactions to and from this account will stay in US currency, rather than doing all the currency exchange stuff that the regular CDN bank account does.

LMk thanks!

Aaron

 

[Bulk-Buyer]

Aaron, I am not 100% sure, but when you transfer funds from your paypal account in usd, it has to go to a cdn account (their conversion is comparable to the banks). I believe the only way you can transfer usd paypal to usd bank account is if you were American.

 

[penguinsrock93]

Belfour is exactly right. You can not transfer funds from your paypal account into a USD account drawn from a Canadian Bank. They force you to convert the money using their rate so that they can make even more from you. If you try to transfer the money into a USD account then I believe there is a service charge of $25. Your stuck converting it to Cdn money and bringing it to the Cdn account. However, a USD account is always good for depositing US cheques and money orders so its not a total loss. Hope that helps!

 

[quincy]

It's something related to the currency laws. PayPal can only pay out in "coin of the realm" as it were wherever the bank is. If you had a US account in a US bank...