Hello, I have a Canadian paypal account, but receive payments from customers in USD. When I transfer $ to my Canadian bank account I am charged the exchange rate fee. So I set up a USD business bank account to transfer USD to and avoid the exchange fee. However, Paypal seems to only allow me to transfer money in Canadian $, and won't validate my USD account. Has anyone found a solution to this? or am i missing something? I will lose a lot of money in exchange fees this year because of it. Thanks!!!
I have learned that I need a US routing number. Royal Bank of Canada has one that works apparently. Does anyone know if Bank of Montreal BMO has one??
I did the same thing, setup an USD account at National Bank of Canada -- they do not have US routing number though and I could not get around the fees -- they know what their doing to make sure you have to pay the fees. I finally opened a new account with a US debit/virtual card I have that works will Pay Pal and accepts the micro deposits.
You can keep USD balance as well in PayPal account. You can, have funds in US$ as well with selected banks.
I bought these 15 of these cards from a reseller who was clearing out all his stock this summer. An option is the VMI card although they do not verify the micro-deposits.