Paypal Canada 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!

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Paypal Canada 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 the Royal bank. Keep on reading to discover how to transfer from Paypal cheaply.

How to Create a USD Account With Royal Bank USD

You can open the RBC US High-Interest eSavings account by visiting their 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, here is how to connect(https://www.youtube.com/watch?v=5p5xrgpR7CE).

Key features


You can use the RBC US High-Interest eSavings Account to withdraw USD from Paypal while avoiding the 2.5% exchange rate.

Some other key features for this account are;

  • ⬤ Unlimited online transfers from this account to other RBC accounts.
  • ⬤ Allowed one free debit per month.
  • ⬤ High interest on every dollar.
  • ⬤ Free electronic self-service transfers within 24 hrs with no delay.
  • ⬤ Free access to telephone banking, online and mobile.
  • ⬤ Use Myadvisor (https://www.rbcroyalbank.com/investments/myadvisor.html) to capture all your savings and investments.

    • Monthly Fees & Interest Rate & Minimum Balance


    Monthly fees:

    No monthly fees.

    Interest rate:

    You earn an interest rate of 0.25% on your dollars.

    Minimum Balance:

    No minimum balance is required.

    Offers


    After getting the RBC US High-Interest eSavings account, you can now open RBC Bank Preferred Money Market Savings Account. The account has more features like transferring to your RBC US High-Interest eSavings Account is free.

    Currency Exchange Using USD Account

    01
    Create your free account

    If you don’t have a RemitBee account, you’ll need to create one (https://www.remitbee.com/signup)

    Step 1 image
    02
    Go to the menu

    After signing up, go to the menu and select exchange currency. Enter the details of your currency exchange. You can move to the next step if no further verification is required.

    Step 2 image
    03
    Connect your accounts

    You can now link your CAD and RBC e-savings account.

    Step 3 image
    04
    Confirm your details

    Choose the amount and confirm your exchange rate. The transaction occurs between the two accounts via EFT.

    Step 4 image
    05
    You’re almost done!

    Convert your money.

    Step 5 image

    Other USD Accounts

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