It’s so sad!
I’m Canadian and in case you aren’t aware the Canadian dollar is actually worth more than the American dollar right now. It’s the first time in decades that our dollar has been higher than the US dollar.
I just looked it up and our dollar is worth 1.01775 in the US. OK I didn’t say it was a lot higher.
Still … since most of the money that I earn via the internet is paid to me in American dollars through my Paypal account I’m actually losing money. Paypal takes a small fee, I believe it’s 3% when they exchange money from US currency to another currency and of course, when I transfer my money to a Canadian bank account I end up losing money.
I think I’m going to look into getting an American bank account. I think I can. Then I’ll use that as my main Paypal bank account and transfer my money to my Canadian bank from the US bank account. I must look into this.
I’m sure there must be several Canadians out there in the same position that I am. Have you thought of any ways to cut the lose a bit?
I noticed this as well and it completely sucks. I just keep wishing that the Canadian dollar goes back down.
The situation with the U.S. dollar is getting pretty bad. Hopefully with time, it will once again be worth more than the Canadian dollar.
actually the dollar is dropping against a lot of currencies, I mean the INR is also getting stronger against the dollar which is why am losing some money aswell.
This is a situation I didn’t realize existed; seems only educated people are talking about this…I’m an American and see the dollar losing value…but oh well, I’m a firm believer in buying gold and silver. That’s pretty crazy your losing money cause most paypal done by Americans; hope you can get that account cause our crappy economy shouldn’t hurt you..*blasted global econ*..soon you’ll get a barrel full of American dollars to pay for lunch.
I’ve opened up a US bank account as a Canadian. The process is really simple and the documentation requirements are pretty low. The only problem is that you have to do it in person (unless you go through RBC Centura) and many people have trouble doing the online banking or tele-banking.
On the plus side, they’re usually free of fees and include free checks and a debit Visa or debit Mastercard.
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