Paypal USD account overview
You can benefit from a great interest rate and no need to have a minimum balance. Keep reading to find out more!
Trademark Disclaimer : PayPal Canada* is a trademark of PayPal, Inc. and/or PayPal Payments Private Limited with whom Remitbee Incorporated (We, Us, Our) has no direct or indirect association in marketing, sales or customer service. Indeed, the enclosed contents are provided only for information and comparison purposes. We further state that all third-party products, services, company names and logos remain the property of their respective holders. Use of them here in this article does not imply any affiliation with or endorsement by them.
Why bank with Paypal?
Paypal USD Account
Did you know that when you transfer your regular US dollars from Paypal to a regular bank account in Canadian dollars, you're charged a further 2.5% exchange rate? That's why most people prefer to transfer their USDs to a Canadian bank account for better currency exchange rates.
But connecting Paypal to a USD Canadian bank account is not possible — unless the bank account is with Royal Bank. Keep on reading to discover how to transfer from Paypal cheaply, and what it takes to open the RBC US High-Interest eSavings account that makes this possible.
But connecting Paypal to a USD Canadian bank account is not possible — unless the bank account is with Royal Bank. Keep on reading to discover how to transfer from Paypal cheaply, and what it takes to open the RBC US High-Interest eSavings account that makes this possible.
How to Create a USD Account with Paypal
You can open the RBC US High-Interest eSavings account by visiting an RBC branch in person or online. But you must fulfill the following conditions:
Step 1: You must be opening a sole account in your name.
Step 2: You must be living in Canada.
Step 3: You must have reached the age of majority in your province.
Step 4: After opening the account, connect it to Paypal to start transferring your USD.
Step 1: You must be opening a sole account in your name.
Step 2: You must be living in Canada.
Step 3: You must have reached the age of majority in your province.
Step 4: After opening the account, connect it to Paypal to start transferring your USD.
Key features
Opening a Paypal USD account means your dollars earn more money. Here are some key features of this account:
You avoid Paypal's 2.5% exchange rate
You get unlimited online transfers to other RBC accounts
You earn interest on every dollar you deposit
Account Highlights
Monthly fees
No monthly fees.
Interest rate
You earn an interest rate of 0.25% on your dollars. Rates are subject to change without notice, so confirm the current figure with RBC before publishing.
Minimum Balance
No minimum balance is required.