PayPal exchange rate.
Sending money with PayPal? Find out the rate PayPal uses to transfer money to United States
How does PayPal exchange rate compares against other providers?
|0.74011Mid-market rate 0%
PayPal has over 400 million active users, in pretty much every country on earth. It's a giant in the world of digital payments and online shopping, and offers quick and convenient transfers to other PayPal account holders in a range of currencies, with nothing more than the recipient's email or phone number to get your money moving.
- Year founded: 1998
- Coverage: available globally
- Currencies: 25+ currencies
- Trustpilot score: 1.3/5, from 23,000+ reviews
- Customer support: available in a broad range of languages, app in 37 languages
PayPal currency exchange rate
The PayPal CAD to USD exchange rate is 0.70943.
Find the PayPal exchange rate conveniently by checking out the PayPal website or app. You can also use our comparison table to get an idea of the PayPal exchange rate you need to know. Don't forget that exchange rates change all the time, and can vary depending on how you arrange your transfer.
Let's take a look at the exchange rate for some major currencies offered by PayPal and how they compare to the mid-market rate.
|PayPal exchange rate
|Mid market rate
Where to find the PayPal exchange rate
Normally the easiest way to find the PayPal exchange rate is on their website or app. You may find you need to create an account or model a money transfer online or in the PayPal app to understand the exchange rates and fees that may apply to your payment.
Does PayPal use the mid-market exchange rate?
The PayPal CAD to USD rate today is 0.70943.
This is -4.1% than the mid market rate. This means that PayPal does not use the mid-market rate, but rather adds a mark-up (an extra fee) to the rate used for transferring money abroad.
This means that PayPal uses the mid-market rate and does not add a mark-up to the exchange rate used for transferring money abroad.
The mid-market exchange rate matters because it's the rate banks and money transfer services get when they buy currencies themselves. That makes it a good benchmark to compare when you're checking out the fees charged by different services offering currency conversion and international payments.
Why does the mid-market rate matter?
The mid-market exchange rate is the rate which is used when currencies are bought and sold on wholesale markets. That means it’s the rate your bank or international transfer provider gets when they buy and sell currencies themselves.
The mid-market exchange rate isn’t usually passed on to customers sending or converting smaller amounts of currency. Instead, banks and currency services add a markup or margin - an extra fee - to the mid-market rate to calculate the retail exchange rate they offer customers.
Adding a markup to the exchange rate used for international payments is very common. However, it makes it very hard to see exactly what you’re paying for your transfer, as this fee is bundled up into the rate applied rather than transparently displayed. Exchange rate markups vary widely depending on the currency, value of a payment, and the provider itself - around 3% is typical. That doesn’t sound like too much, but it mounts up quickly, and can often cost more than the transfer fee you’re charged. Learn more about mid-market rate here.
How much does PayPal charge for rate exchange?
The PayPal rate today is -4.1% than the mid market rate. This difference represents the fee that PayPal charges for currency exchange.
Currency exchange services, banks and money transfer providers often use exchange rate markups. These fees cover the provider's costs, and allow them to make a profit, they're businesses after all. However, what's tricky is that some companies state that they offer fee free, or 0% commission transfers, when actually they just bundle their fees into their exchange rates. To understand the full costs of your international payment it's important to look at both any upfront transfer fee the provider charges and any extra charges tucked into the rates used.
Here are the fees and rates available for different sending amounts with PayPal:
Compare PayPal rates and fees
When it comes to sending money overseas, exchange rates are important. But they're not the only factor to consider. The number of supported countries or currencies, the speed of your payment, the convenience of arranging a transfer, and the customer service on offer if you need help all matter too.
Here are a few PayPal alternatives, and why you might want to consider them:
PayPal international transfer time
To make a Canadian Dollar to US Dollar transfer with PayPal, it will take 1-3 Days. Generally, the length of time it takes to transfer money from Canada to United States depends on a variety of factors including:
- the provider you use
- your chosen payment method
- how you want your recipient to get the money
- any public holidays
- legally required verification steps here or in the destination country
From among our pick of the top providers, the fastest international money transfer provider from Canadian Dollar to US Dollar is Wise, which can deliver US Dollar in Instant-2 Days.
PayPal transfer limit
There are limits to how much money you can send with PayPal. These sending limits vary from country to country, and may also depend on other factors like the verification steps you’ve taken to register your PayPal account and how much money you've sent with PayPal in the past.
Is PayPal safe?
It is safe to transfer money with PayPal.
When you're looking for the safest ways to send money from Canadian Dollar to US Dollar you'll usually want to look out for providers which are registered with and operate under the regulatory authority for the country you're transferring from. Read here about the safety of using PayPal for international money transfers.
PayPal exchange rate FAQ
Using a specialist money transfer service often means you'll get a better exchange rate compared to your bank - however, the exact details depend on your own bank and the payment you’re sending. Get your bank’s exchange rate online or by calling your local branch, and compare it to the PayPal rate to see which is best for you.
The PayPal rate today is -4.1% less than the mid market rate. This difference represents the fee that PayPal charges for currency exchange.
The PayPal CAD USD rate today is 0.70943.
Find the PayPal exchange rate on their website or app, or using this handy guide. You may have to register an account in the PayPal app to understand the exchange rates and fees that may apply to your payment.
To make a Canadian Dollar to US Dollar transfer with PayPal, it will take 1-3 Days. However, bear in mind that the exact delivery time for any international transfer can vary based on factors like verification steps required, public holidays, and the value of the payment.