Sending Money to America – Exchanging Currency with Ebay

I came across the oddest sale on Ebay, and figured out that this person was sending money from Canada to the United States.  Here’s the listing, after it was transacted.

Why Do This?

A few years back, I got a check from Canada, a donation. I found out that cashing it would cost more than the value of the check.  So I just didn’t ever cash it.

(There’s a workaround, which is to have an account at TD Banks – but we don’t have those down here.)

Selling a Fake Item

The seller wanted the money. The buyer “sent” the money by “purchasing” the item in the listing.

The seller was in Canada, and the buyer was in the US. The listing had “free shipping”. I think they chose nonfiction books because there probably aren’t tariffs on books.

With Ebay, you don’t incur all the charges related to processing checks. You pay Ebay fees and the currency exchange fees.

You can also avoid the PayPal exchange fees.

So, they suffered some fees, but it’s probably cheaper than going through check cashing.

The Bitcoin Option

There is another option, which I haven’t used, and it’s bitcoin. You can buy bitcoin for a small fee of a few percent. You then send this to the recipient.  Inserting the transaction into the blockchain costs a dollar or two. Then, converting from bitcoin back to cash is a few percent.

Author: John

I can be reached at johnk@riceball.com.

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