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 Replies: 115 / Views: 14,979 |
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Pillar of the Community
 Canada
9865 Posts |
I don't find paypal's 2.5% fee exorbitant,it's the same as the bank.
"Dipping" is not considered cleaning...
-from PCGS website
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Pillar of the Community
Canada
548 Posts |
What I don't like are Canadian sellers wanting to be paid in American money. I suppose it might make sense if a lot of their buyers are American but aren't most purchasers of Canadian coins Canadians?
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Valued Member
Canada
127 Posts |
Yes the 2.5% looks right, not the 4% I suggested. I have $USD and so the 2.5% is an extra cost to me. I have a USD bank account here in Canada but I can't transfer USD to my paypal account without paypal converting into $CAD. From Paypal "When you withdraw funds from your PayPal account to your bank account in Canada, the funds will be converted to Canadian Dollars. When you add funds to your PayPal account from your bank account in Canada or use your bank account in Canada to fund a transfer, the amount will be in Canadian Dollars."
Has anyone Canadian set up a US paypal account without having a US bank account? The savings over a number of years would add up. I just don't want to be missing something obvious. Maybe this should be a new topic.
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Valued Member
Canada
127 Posts |
Lyradnoj - that bugs me too. I assume they sell in USD so that they can get USD into their accounts for whenever they make purchases. That is the only reason I can see for Canadians selling in USD
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Valued Member
Canada
121 Posts |
 I have a US$ credit card attached to my Paypal account and they still convert to CDN$ when charging against this card. It is just so stupid since every other US on-line retailer, hotel, etc. just charge US$ against the US$ credit card and then I pay the card against my US$ bank account. I haven't been able to solve this with Paypal but also haven't tried lately. I just said firetruck it! |
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Valued Member
Canada
190 Posts |
( I LIST ALL MY AUCTIONS IN CANADIAN $ SO THAT YOU DON'T HAVE TO PAY HIGH CURRENCY EXCHANGE RATES.
SO MUCH FOR "FREE TRADE" EH!! :) ebay prompts listers to list in US dollars stating that this will increase their sales... I think that in general US buyers are more comfortable buying in US dollars... It has always bugged me also, especially during times when Canadian dollar was trading signficantly below US dollar, that not only did you have to pay exchange rate, but that ebay also piles on to add further penalty to the transaction... Over past 6 years this has been the opening pre-amble to all of my ebay listings:  Take care, and Have a Great Weekend! cameron93
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Pillar of the Community
Canada
2366 Posts |
Yes, and if they register on ebay dot com instead of ebay dot ca then it lists in $US by default. |
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Pillar of the Community
Canada
2366 Posts |
However I don't worry about it too much because if they list in $US then the exchange fee comes out of their pocket as I factor that in to my bids and offers and reduce them accordingly.
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Pillar of the Community
Canada
815 Posts |
Kuh_85, the problem with that is that you are then competing at a disadvantage against US bidders. For example, if you are only willing to pay X-1, due to the unfavorable exchange rates paypal offers, whereas Americans are willing to pay $X, you will tend to lose auctions.
Similarly, when sellers charge exorbitant shipping rates to Canada from the US, Canadian bidders are at a disadvantage vs. Americans for similar reasons.
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Pillar of the Community
Canada
548 Posts |
Good points all. I find myself checking the exchange rate on a daily basis before making bids where I have to use American funds. The closer our dollar is to par the more likely I am to bid, but when you're paying a 5% premium, forget it.
And if there's tax on top that... utterly ridiculous. Paying taxes to Canadian governments for sales of Canadian coins sold in Canada by Canadians to other Canadians and then using American money for the actual transaction!
Wait a second! Are sellers making money on this? Collecting taxes in American money, then remitting them in Canadian and pocketing the difference?
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Pillar of the Community
Canada
2366 Posts |
@anjohl - True, but when the Canadian dollar is over par then I have the advantage. Also, another coin will always come along so once my max bid is reached I walk away with no regrets. It's the sellers who are only doing it because they are following ebay's advice that end up paying for it. @lyradnoj No they're not making money off the difference; unless they're cheating on their taxes anyway of course :-). The accounting rules cover the conversion. |
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Valued Member
Canada
300 Posts |
I just recently got myself a credit card that does *not* tack on the extra 2.5% charge for conversion. You can use it directly via PayPal without being ripped off by what I consider to be an exorbitant fee. There aren't many such credit cards out there, but I was recently directed to a blog that listed three or four such and I chose one that had some extra bonuses for me, personally. Is it OK for me to mention the card or the blogger's site? Not sure what is proper forum etiquette. (I don't have any personal financial interest in the card or the blogger's site.)
Rob
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Pillar of the Community
Canada
1472 Posts |
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Valued Member
Canada
495 Posts |
I got burned and cant understand why they are still allowed to exist on ebay. |
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Valued Member
Canada
111 Posts |
Do anybody knows what's up with asyn: no more lots. Are they running out of coins?
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Replies: 115 / Views: 14,979 |
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Posted 04/13/2013 1:09 pm
