Conversion rate CAD Vs USD

[KROLMAN]

The current exchage rate for the Canadian dollar and Us dollar are wrong. It shows that the US dollar is higher while it is not. Rather that they are equal or that the Canadian is higher. 

[k8tel]

I am in the same boat, you just have to be patient and wait till the rates get better! Paypal does not follow the Canadian Bank rates (ie. making a profit on your moneys)

[daleypippi]

USD higher than CAD ???

What nonsense is this ???

[timberjack2004]

I just paid for an item via PayPal. The Canadian dollar is currently trading at around 1.02 US. That means 1 Canadian dollar SHOULD buy 1.02 US dollars. But NOT on PayPal. They converted my money at .98 US. SO they automatically make another 3-4% on MY money. In addition to fees levied to the seller. I complained but Im sure they dont give a crap. Perhaps its time that noone uses an institution that doesnt follow financial etiquette in favor of lining its own pockets a few cents or dollars at a time. 

[DH_CANADA]

 I posted this else but seems fitting here..

Right now exchange rate for CAD/USD dollar is sitting at 1.00 USD = 0.986050 CAD (not Canadian Bankrates, online rates from a U.S. Site) but when I made a purchase, they REVERSED the NUMBERS! I am trying to figure out whom to contact to make an official complaint, can't be eBay, Paypal has them in their back pocket.  They may come back to this message with the same B.S. of "they strive to keep exchange rate up-to-date" (this rate is over 8 months old) or "with our exchange rate in house this is how it works" WHAT you charge 4% Service Handling!!! 

Ebay shows the true exchange which makes the buyer all happy to buy in some cases, saving big $$ then Paypal ruins it!

Another company riping off the small guy.  

[spaulcote]

The worst is that EBay OWNS Paypal!  They tell you on EBay that your money goes further, but when you pay through Paypal, the rates are switched around, and NEVER in favour of Canadians.

EBay is a Dutch company.  They should remember that canadians protected their Queen during WWII!  🙂

But then, Paypal is an american company and they don't give a damn about us.  Like true americans, their only interest in anyone is how much they can sqeeze out of their pockets.

Wich reminds me of a study I came upon on the web about SOCIOPATHS, or if you prefer, people that are void of any conscience and/or moral.  They estimated that at least 43% of businessmen were SOCIOPATHS!  And the bigger the business, the more chances that the owners are SOCIOPATHS!

No conscience and they are NEVER wrong, always feel wrongfully accused because they have an "inner" right to do what they do.  Their conscience is clear!  Totally clear.  Well it would be if it is totally void!

So I guess all we can do is shut the f... up and pay.

BTW, Paypal is not very safe.  I had someone transfer 1 150$ US from my account to his this morning, creating a bigger void in my bank account as I only had 2,50$ in it, so now my bank is charging me 45$ for NSF check!  I asked Paypal if they will refund me the 45$ as they know very well I didn't try to send that money.  I haven't heard from them yet.

If I have to pay that amount each time some **bleep** tries to defraud me through Paypal, well I'll be bankrupt by the end of the week!

I'll simply close my account and warn everyone to do the same, unless they can afford to leave a few thousand bucks in their bank accounts in order to cover the frauds and thus not be charged 45$ NSF fees!

Merry Christmas!

[Danis]

U.S. Dollar Balance Amount $139.00

USD Exchange Rate 1 U.S. Dollar = 0.967624 Canadian Dollars

Gross Amount $134.49 CAD

We havn't seen this rate since 2007 yet in 2012 I am being forced to do this rate.  The only way I can get my money to my account is through their rate.  How is this even legal?

[WoodGuy]

Hey....saw your comment....I assume you sell in USD and incur the Paypal exchange rate when you withdraw to your Canadian bank.

If so, look at my posts under WoodGuy. I have a US account in Georgia, and save a pile of $. RBC though still will charge you something.

WoodGuy

[stupidforums]

don't let paypal do the exchange... just choose to be charged in the currency of the transaction.

paypal's rates are horrible.... I let the RBC or AMEX handle the transaction/exchange and voila, a cheaper purchase, i figure I save a couple hundred dollars by not letting them (Paypal) do the exhange.

AMEX is pretty good and if you do feel that the exchange was not in your favour with AMEX, just call them, they are great customer service individuals (unlike paypal)

[DH_CANADA]

How do you pick the non Paypal option stupidforums??  Must be through a bank account link, I do credit cards so...