PayPal issue. Canadians withdrawing US dollars

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FASTMAX

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Anyone in Canada figure out how to withdraw straight US dollars from Paypal? I am going to the US soon and would like to have the USD that I have sitting in the paypal account but do not want to pay their exchange rate from US to Canadian and then go to the bank and pay the banks rate. Its like throwing 10% out the window. I just want to have the USD that I have in PayPal sitting in my hand as physical cash without being worked over. I opened a US account via my Canadian bank but Paypal is still going to convert it from US to Canadian first and then the bank will convert it back to US, while I loose both ways. ARG. Any help would be appreciated.
 
I tried a few months ago, and paypal won't let canadian users to withdraw usd$... I even try to link my account with a usd$ bank account, and it's impossible.

My guess is they want to make benefits with curency conversion...
 
I looked into this years ago, and I think it is regulatory in nature - if the money is going to Canada (or Sweden, or wherever) it has to be paid out in the coin of the realm.

If you have a USD account IN the USA, then you can request USD transfer.
 
quincy said:
I looked into this years ago, and I think it is regulatory in nature - if the money is going to Canada (or Sweden, or wherever) it has to be paid out in the coin of the realm.

If you have a USD account IN the USA, then you can request USD transfer.
Click to expand...

Is it possible for a Canadian to open a US bank account in the US? Barring that, any Americans coming to expo that want some USD paypal for straight up USD?
 
Once upon a time, I had a paypal debit card that I could use at an ATM machine at a nearby US mall to withdraw American dollars up to $400 daily. Unfortunately paypal DID NOT renew my debit card once it expired and after a few unsuccessful calls, I simply gave up!
 
trekrun said:
Once upon a time, I had a paypal debit card that I could use at an ATM machine at a nearby US mall to withdraw American dollars up to $400 daily. Unfortunately paypal DID NOT renew my debit card once it expired and after a few unsuccessful calls, I simply gave up!
Click to expand...

I still have my debit card - and use it on both sides of the border. Although I still get hammered by bank fees regardless - last time I used it in the States - I think the bank charge was $4 alone. And you can only withdraw $400/day on the card - and spend up to $1000/day using it for purchases
 
FASTMAX said:
Is it possible for a Canadian to open a US bank account in the US? Barring that, any Americans coming to expo that want some USD paypal for straight up USD?
Click to expand...

Yes, it is possible for a Canadian to open a US bank account in the US. I know of one BC HI member who has done so. I don't know how many (if any) leaps he had to go through to open the account.
 
Gentleman. I have the solution you need:

There is an RBC account that you can open with RBC in Georgia, US. You can open it and link it to a similar Canadian account. Then you can use the aforementioned American account to link to paypal. Note that it is considered a REAL American bank and so PP will accept it. No Canadian-based bank can provide the service aside from RBC.

I have been using one for about a year and it's one of the smartest things I've done for FX savings
 
tuukkatime said:
Gentleman. I have the solution you need:

There is an RBC account that you can open with RBC in Georgia, US. You can open it and link it to a similar Canadian account. Then you can use the aforementioned American account to link to paypal. Note that it is considered a REAL American bank and so PP will accept it. No Canadian-based bank can provide the service aside from RBC.

I have been using one for about a year and it's one of the smartest things I've done for FX savings
Click to expand...

BMO has the Harris Bank - which is mainly in the Midwest - TD has their own branches all across the eastern seaboard. The other major banks in Canada have a presence in the States - but not as much on the retail level.
 
This stuff is readily available if you use a search engine:

http://forums.redflagdeals.com/linking-canadian-bank-usd-savings-account-paypal-928670/

RBC told me no. Paypal told me no. But you can do it. Here's how:

Get a Canadian RBC account that holds USD - e.g a USD account

Login to paypal
Click on "Profile"
Then in the lists at the bottom click "bank accounts"
Click the "Add" button
In the drop down menu for country select "United States" - yes I know you have a CDN account.
For The rest of the form:
Bank Name = Royal Bank of Canada
Routing number = 026004093 (this is the same for everyone with an RBC account)
The routing number is the key. Royal bank will tell you it's 021000021 but that doesn't work. Use 026004093 instead.
Account number: Transit#(five digits)Account#(7 digits)
Note you combine the two e.g. 066241234567
and do not include the institution number e.g. 003 for royal bank. DO NOT INCLUDE this.
reenter the account number same as above.
hit continue then wait for the deposits in your bank account (a few days) and then confirm the amount with paypal.

This probably works with other institutions too but the issues that hold you up are - having the correct US Routing number. Despite 5 calls to 5 different people and a visit to two RBC branches they always gave me the wrong routing number.
Also, do not include your institution number as you would with Canadian transfers.
Click to expand...

Get an RBC US Account today at the a branch, then follow the RFD link and figure out your branch numbers and stuff and then it will work.
 
Hama said:
BMO has the Harris Bank - which is mainly in the Midwest - TD has their own branches all across the eastern seaboard. The other major banks in Canada have a presence in the States - but not as much on the retail level.
Click to expand...

I'm well aware of the American subsidiaries of the Canadian banks. My point was that, to my knowledge, RBC is the only one who provides the service of allowing linking + giving Canadian users access to the American bank accounts.

I've tried to use TD as they are my standard bank and they told me I couldn't get an American Bank account (I can get a USD bank account but no account situated in the United States.
 

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