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problem accessing paypal funds

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18 Jan 2008, 9:56 PM
#1
aw3s0me avatar

aw3s0me

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problem accessing paypal funds

hiya

i wasn't sure where to post this .. i dont think paypal express or pro i dont think:

i have an online store based in canada that accepts credit card payments via paypal. i have 2 bank accounts both located in canada; 1 USD account, and 1 CDN$ account.

now recently ive been getting some orders from the USA, thus adding USD funds into my paypal account.

however paypal is telling me that to transfer the USD funds to my canadian account (whether it is a USD or CDN$ account), i HAVE to convert the USD to CDN$. i will incur a 2.5% conversion charge if i do this. i already have the 2.9% for the original transaction, another 2.5% would be crazy.

is there anyway to avoid this fee(or to minimize costs) and get the money into my accounts without opening an account in the USA?

18 Jan 2008, 10:02 PM
#2
drbyte avatar

drbyte

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Re: problem accessing paypal funds

Sorry, no. Not if you're going to continue using PayPal.

You could set up a US Bank account in the US, and then open a merchant account and gateway service so that you can have all your USD Credit Card transactions handled that way, and leave PayPal for CAD.

Naturally, it gets complicated :)