that they are cutting fees for Canadian users. The transaction fee for receiving payments has been cut from CA$0.55 to CA$0.30: fantastic news for all sellers, and perhaps especially those who sell lower priced items where those transaction fees can hit hardest.
For larger merchants who do a lot of business with the US, there’s even better news: currency conversion fees to move US dollars to Canadian bank accounts are being cut for merchants who do more than $3,000 monthly sales. Those who sell up to $125,000 a month will see currency conversion rates cut from 2.5% to 1.5%, and those who sell more than $125,000 a month will be charged 1%. Sellers will need to apply for merchant rates before they will qualify for this fee structure (IMO, this is one of the most outrageous PayPal policies there is; merchants should auto-qualify for merchant rates without having to ask for them).
A full schedule of fees can be found on PayPal’s website.
