PayPal CAD to USD

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PayPal CAD to USD

The PayPal is a popular online payment app founded in 1998 that makes it simple and convenient to transfer money domestically and internationally.

Over the years, PayPal has quickly become a global leader in online payment solutions, with more than 325 million accounts worldwide.

The app is also available in 202 countries and 25 currencies worldwide. With PayPal, you can make payments across different locations, currencies, and languages.

Today, the company has received more than 20 awards for excellence from the internet industry and the business community.

Exchange Rates

The current exchange rate is; 1 CAD = 0.780457 USD.

Notably, 3rd party financial institutions determine the base exchange rate and are adjusted depending on the market rate.

The rate that PayPal then provides you also includes a processing fee.

If you use your credit card, you can usually opt to use your provider's conversion rate.

PayPal Requirements

To send, receive, and request money to or from anyone with a PayPal account, you require the following details;

PayPal username
Mobile phone number
Email address
Your personal payment link
Personal QR code

How to Send Money From Canada to the US

While sending money from Canada to the US with PayPal may be expensive, it offers you a convenient way to send money.

Here are the steps to transfer money from Canada to the US using PayPal;

Log in to your PayPal wallet
Click the send button
Enter your receiver's address, username, or mobile number
Choose to send to a friend option
Enter the amount of money you'd like to send and select USD
Click send money

This method allows you to choose whether to use the balance in your account or pay by credit card.

If you opt for your PayPal wallet, you'll be subjected to PayPal's exchange rate fees.

Since the currency conversion costs at major card providers can also be expensive, it's recommended that you choose PayPal's exchange rates. However, this depends on whether your card provider offers you favorable exchange rates.

Transfer Fees

Whenever you send money to somebody else's account in a different currency, you'll pay the transfer fees in addition to other fees. These fees include;

PayPal balance/bank account: C$2.99 fixed fee.
Credit/debit card: C$2.99 fixed fee + 2.90%

If you use PayPal to transfer money from Canadian to US dollars using a debit or credit card, you could be charged an exchange rate fee by your card provider.

Alternative to PayPal: RemitBee

Choosing the best money remittance service for you is essential. With RemitBee, you can be confident that our remittance services are uncomplicated and will give you the best deals possible. As a matter of fact, our rates and fees are better than average banks and Remitly.

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