PayPal USD→CAD Fees in Canada (2025): Real Rate, Hidden Spread & Cheaper Option
Freelancers, Shopify sellers, snowbirds — if you’re paid in USD, you’re converting to CAD all the time. The catch: fees are often buried in the rate. Let’s break down PayPal versus Wise and RBC with live numbers and no fluff.
Live USD→CAD rate (today)
Updated on load •
Quick conversion table
Approximate CAD you receive when converting USD via PayPal (3.5% rate markup), Wise (0.6% fee), and RBC (2.7% rate markup). Figures refresh when you load the page.
| Amount (USD) | PayPal (3.5% spread) | Wise (0.6% fee) | RBC (2.7% spread) |
|---|
Notes: numbers are estimates; actual fees/rates vary by account, verification level, and funding method. Always confirm before sending.
Where PayPal’s extra cost comes from
PayPal’s consumer USD→CAD rate typically includes a hidden markup (spread) of ~3–4% vs the mid-market (“Google/XE”) rate. You don’t see a separate line item — the fee is baked into the rate.
How to pay less
- Withdraw USD from PayPal into a USD account (or PayPal Balance in USD).
- Send USD via Wise and convert at the mid-market with a transparent ~0.6% fee.
- Receive CAD in your Canadian account. On larger transfers, the difference is meaningful.
Check today’s rate here: USD to CAD live rate (updates every 30 minutes).
Pros and cons
| PayPal | Wise | |
|---|---|---|
| Fee transparency | Hidden in the rate | Shown upfront |
| Speed | Instant within PayPal | ~30–60 min to CAD |
| Best for | Small, urgent conversions | Most amounts, best net CAD |
FAQ
What is PayPal’s USD→CAD fee in Canada?
PayPal usually builds a ~3–4% markup into the exchange rate instead of listing a separate fee. The exact spread changes day to day.
Is Wise cheaper than PayPal?
Typically yes for USD→CAD. Wise uses the mid-market rate and charges ~0.6% + a small fixed amount, shown upfront.
Can I see the “real” rate?
Yes — the mid-market rate is the one you see on Google/XE. You can also check our USD/CAD rate today page.
Verdict
For most Canadians, Wise yields more CAD than PayPal because it avoids the hidden exchange-rate markup. PayPal remains convenient for quick, small conversions, but you’ll usually keep more money by converting at the mid-market and paying a clear, low fee.