PayPal's International Currency Conversion Fee

[Ma158]

I live and do business in Canada. When I receive payment from a person residing outside of Canada, I receive it in the currency of that country. I then transfer it to my Canadian bank. At that time, Paypal charges me a Currency Conversion Fee. That is fine, but I would like to report the Currency Conversion Fee as a business expense in Canada. Right now, I convert sales in foreign currencies to Canadian dollars at the rate set by the Bank of Canada and report them, so I am not reporting the Currency Conversion Fee charged by Paypal. But I don't know how much Currency Conversion Fee Paypal is taking from me. How can I find out the amount and report it as a business expense? Thank you very much.

[DominicKB]

Have you found an answer? I don't think there's a place where they clearly list the conversion fee amounts that they take. All I found is that the amount is 3.5% for Canada and we might have to calculate it ourselves. I'm really tired of how Paypal treats non-US people. They don't let us send US money in a Canadian based USD account, and they don't let us use online banks like Wise to use our preferred conversion rates. They entrap us into their conversion fee that is invisible.