eBay will begin to allow sellers in Canada to receive payments in US dollars. This is a big deal, as many Canadian eBay sellers do the majority of their business on eBay.com. The change affects sellers registered with Managed Payments.
“We are happy to announce that this feature will be rolled out over the next few weeks,” eBay said. “Starting May 4, Canadian commercial sellers or invitation sellers will be able to enroll in this program and choose the payment option that best suits their business needs.”
But sellers should think about their decision, as they won’t be able to change their payment currency after signing up.
eBay advised sellers, “Remember that if you select payments in US dollars and choose to register on eBay.ca, your items will be displayed in Canadian dollars and may be subject to additional charges when are converted into US dollars.
Another caveat: “Make sure the account you provide is denominated in the same currency as the payment currency you selected.” EBay Canada explained, “If you mistakenly link a bank account denominated in a different currency than your payment, you can use the Back button to go back 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 can’t 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 maintain two separate accounts: one to register on eBay.ca to receive payments in Canadian dollars; and another to list on eBay.com to receive payments in US dollars.
Canadian sellers should be aware that they need a US dollar denominated checking account with a Canadian bank if they wish to receive payments in US dollars. (It is advisable to check the bank charges before making a decision.)
You can find the entire article on EBay Canada Ads Board.