So my question is regarding what is better to withdraw money: Bank Transfer or Paypal for Canadians.
Right now I realize that Paypal is automatically taking a 2.9% cut out of all of the money put into the account for sellers. But my big concern is with the exchange rate - it seems as though Paypal is taking an additional cut between converting between CAD & USD.
Today the exchange is 1.33 but they are only using a 1.29 exchange - this might not seem much but if you are withdrawing $1000.00 that is 1330 vs 1290 ($40 difference…that’s 8 gigs!) not to mention the 2.9% they are already taking a cut off.
Has anyone, in Canada, tried using the Bank Transfer function and what were the fees/exchange/what was deducted? Any feedback would help a lot.