- Canadian PayPal Users - How to Transfer from PayPal to Canadian USD account
Canadian PayPal Users - How to Transfer from PayPal to Canadian USD account
PAGE 1 = Introduction (PayPal Issues for Canadians)
PAGE 2 = Royal Bank of Canada (RBC) Solution
PAGE 3 = RBC U.S. High Interest eSavings account
PAGE 4 = Linking PayPal to your new RBC US account: Step #1
PAGE 5 = PayPal + RBC: Step #2
PAGE 6 = PayPal + RBC: Step #3
PAGE 7 = PayPal + RBC: Step #4
PAGE 8 = PayPal + RBC: Step #5
PAGE 9 = PayPal + RBC: Step #6
PAGE 10 = Conclusion
In this training tutorial, I want to share an important piece of information for Canadian PayPal users (keep reading, it is worth it!).
To start off, when we receive commissions from WA, these commissions go to our individual PayPal accounts and in US dollars.
As I mentioned in my WA blog post, there are a couple of problems associated with the Canadians having a USD PayPal account:
1). The first issue is that PayPal's conversion rate is 2.5% every time they convert US dollars to Canadian dollars.
It may not be a big deal but it's $2.5 on every $100 that you earn, $25 on every $1000 that you earn and so forth.
And the bigger the income, therefore the higher will be the fee.
2). Second issue is that PayPal automatically converts USD to CAD, and there is no option to change that.
However, THERE IS ONE solution available! (I will get to that in a bit, don't worry!)
NEXT: Royal Bank of Canada (RBC) Solution