The title of this post has been edited from the original: USD transactions in Canada
Is it possible to open USD account in Canada such that I can conduct all transactions in USD either in Canada or the US by phone AND have the proceeds deposited into a USD account at a Canadian bank?
Posted 04-11-2020
Posted 04-11-2020
The ability to charge your customers in different currencies using Square Point of Sale is not available at this time, @Reefertilizer.
We're constantly working to bring payment processing to more countries, and will definitely announce any changes related to currency acceptance here in this thread.
Unfortunately not, @Zephyr. You can only process transactions in the currency of the country where your account was activated; so an account created in Canada will process all sales in CAD.
It is up to the cardholders bank to determine the conversion rate and any applicable fees. Hope that info helps.
I believe that the invoice you sent your customer is in CAD. When the customer pays it will convert CAD to USD for the customer.
If this is wrong, someone please correct me.
Hi there @bweddel - it sounds like you're in Canada and sent an invoice in CAD, as @Provision stated above. I've moved your post to this thread, where @Spenser explained that it is up to the cardholders bank to determine the conversion rate and fees. I hope this helps!
I've been waiting for multi-currency feature for the last several years. It doesn't make sense that Square only contains one currency of where you opened the account. Other payment systems accept multi-currency and are very easy to use.
I am unable to bill people in other parts of the world since they are getting confused as why the invoice is in Canadian dollars and not in their currency.
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