PayPal exchange rate ripoff

[MasterOfMyDomains]

Just at paypal. Had $90usd in there. So I decide to take $60usd and convert it to Canadian dollars.
So my $60usd becomes $76.72 CAD
Conversion:
From U.S. Dollar
Conversion from:
-$60.00 USD
Conversion to:
$76.62 CAD
Exchange rate:
1 U.S. Dollar = 1.2770 Canadian Dollars
Date:
13-Dec-2016
Time:
17:37:54 PST (CA)

I then go to summary and see my available balance as $86.95 usd ($30usd + $76.62CAD)= $86.95
Got hosed $3.05usd on the conversion.

Went to see what it would be to exchange $1CAD to USD
0.74USD

PayPal exchange rate:1 CAD = 0.743312 USD

Bank of Canada has CAD 0.7622

http://www.xe.com/currency/cad-canadian-dollar have the USA to CAD exchange at 1.31317CAD
Paypal is paying out at 1.2770 CAD

So there are burning us 4% one way and 2% the other way plus the fees.
Add all the chargebacks and were getting it coming and going.
Maybe bitcoin is the way to go, or is Payoneer any better because paypal.sucks you dry

 

[TopShelf Domains]

Yea you're never going to get what XE has posted. I live near an international border and my experiences have always been the international bank always has the best rate for buying the foreign currency.

I imagine PayPal cuts the exchange rate to have a cushion given the market swings they do not want to lose money, let alone make some cash. The private "currency change" locations here do the same thing. It is how they make their money.