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Discussion Starter · #1 ·
I did a transaction in Euro a couple days ago and when going through the paypal transaction, the cross rate CAN$/EUR was high at 500+ points over the spot rates. Usually, PayPal is competitive in US$ but this seemed a bit much against the Euro.

I noticed that there is an option in PayPal while sending funds to either a) convert the funds into your home currency of Canadian $$$ and charge your credit card or b) charge your credit card in the currency of the funds being sent (this case Euro). I chose the latter because of the PayPal rate and today while checking my online credit card statement, my purchase ended up costing me $70 less.

As a heads up, i didn't realize that the buyer could choose the option of how to be charged on the credit card. Over the long run, this can add up to quite a bit of savings.
 

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Premium Member
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4,159 Posts
Discussion Starter · #7 ·
Another PSA.....It appears that PayPal has changed their policies on foreign currencies and I discussed this matter with a PayPal rep this morning. My last 2 transactions on Reverb.com were paid in US$ but i received CDN$. It appears now, due to recent changes according to the rep., that If a buyer pays in US$, the Canadian recipient will receive the CDN $ equivalent unless the buyer elects for the recipient to receive US$ (which is an additional step).

It is difficult enough to get US buyers on side and this is essentially a pain if you want to keep your US$ for future purchases. I may try the Reverb Direct Checkout which now allows US$ funds to be deposited into a US$ bank account (in Canada).
 
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