Subject:
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Paypal and Canadian bank accounts
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Newsgroups:
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lugnet.market.services
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Date:
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Fri, 2 Feb 2001 20:30:32 GMT
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Viewed:
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2058 times
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The good news is, you can now add a Canadian bank account and withdraw money
from Paypal to it (and presumably fund your paypal account from it too).
The bad news is that when you withdraw money from Paypal to it the exchange
rate is horrifically low. I tried it today and was quoted an exchange rate
of 1.436. The current rate according to XE.com is 1.48233, so given that
there is always a spread for buying and selling around the nominal exchange
rate, I'd expect to get a rate of about 1.467. I've written to them
protesting, but I don't seriously expect to see any result. When you
withdraw to a credit card you don't see the exchange rate at all (presumably
because it gets calced by the CC company when the credit actually hits your
card). Looking back at my CC withdrawals last month, the rate is much
better.
Kevin
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