eBay will begin letting sellers in Canada receive payouts in US dollars. It’s a big deal, since many Canadian eBay sellers do a majority of their business on eBay.com. The change impacts sellers enrolled in Managed Payments.
“We are pleased to announce that this functionality is rolling out over the coming weeks,” eBay announced. “Starting May 4th, Canadian business sellers or sellers by invitation will be able to register for this program and choose the payout option that best suits the needs of their business.”
But sellers should put thought into their decision, since they won’t be able to change their payout currency after they register.
eBay advised sellers: “Keep in mind that if you select US dollar payouts and choose to list on eBay.ca, your items will be listed in Canadian dollars and may be subject to additional fees when converted to US dollars.”
Another caveat: “Make sure the account that you provide is denominated in the same currency as your selected payout currency.” eBay Canada explained, “If you link a bank account that is denominated in a different currency than your payout currency by mistake, you can use the back button to return to the previous page and edit your information.”
But, eBay continued, “If you choose to continue, you are responsible for any additional fees charged by your financial institution.”
The bottom line: you cannot accept Canadian and US dollars with the same eBay account. eBay explains, “If you want to accept both Canadian and US dollars, you will need to operate two separate accounts: one to list on eBay.ca to receive payouts in Canadian dollars; and another to list on eBay.com to receive payouts in US dollars.”
Canadian sellers should be aware that they need a US dollar denominated checking account from a Canadian bank if they wish to receive payouts in US dollars. (It’s advisable to check banking fees prior to making a decision.)
You can find the full post on the eBay Canada Announcement Board.
As I started selling on eBay in 1996, there was only eBay.com – eBay.ca did not then exist. I’m a resident of Canada, and, so far as I know, I’m still registered on the US site.
Canadian items sell best on the .ca site, and US items sell best on the dot com site. With my one Paypal account, I have currencies listed as $Canadian and $US. I list an item on .ca, I sell the item in $CAD, and the funds go into my Paypal $CAD sub-account. When I withdraw funds, the transfer goes to my $CAD bank account in Canada. I list an item on .com, I sell the item in $US, and the funds go into my Paypal $US sub-account. When I withdraw these funds, the transfer goes to my $US bank account in the US. There’s no currency conversion fee, as Canadian stays Canadian, and US stays US. This has worked for years with no problems.
Am I understanding this eBay notice correctly insofar as I will now need TWO separate eBay accounts – one registered with eBay.ca while also maintaining my current one with eBay.com ? As a Canadian seller, why would I need a Canadian bank based $US account, when I already have a US bank based $US account (in Washington State) ?
How will this affect what I do if I choose to list something on eBay UK ? Currently, Paypal allows me to have a £UK sub account. I do not currently have a £UK account based in a UK bank. To sell something on eBay UK would I have to register on eBay UK and also open a £ sterling account in England ?
Seems like a massive amount of work beyond what I have in place now.
as usual eBay reports completely false information. I have US account that is connected to managed rpayments through my US Bank account and it takes both Canadian and us funds. whey are so desperate to not lose any more sellers. They’ll kiss your rear if you cask them to.
Z
If you look at the real numbers, here’s what a little search brings up. BOTH HAVE THE EXACT ASMEAFILTERS. THAT BEING SEARCH FOR ONLY Canadian SELLERS IN Canada, AND us SELLERS IN THE us
sEARCH FOR “DIAMOND”ON EBAY.COM and Canada
us SELLERS (i DIND’T CARE ABOUT THE ORMAT 7,121,387
cAN sELLERS 15,442
.
Are they really serious about that number? It isn’t going to help ,much?????