General Information
Who has access to selling in CAD?
Starting 4/15/25, ALL Canadian sellers will sell in CAD. No Canadian sellers will be able to sell in USD.
What exactly is getting converted to CAD?
All aspects of running your business will be getting converted to CAD. This includes, but is not limited to, listings, auctions, BINs, flash sales, offers, tips, rewards club, coupons, etc.
Can I still run things in USD after my account converts?
No. After your account is converted, you will only be able to run/list items in CAD.
Can I revert my account back to USD?
No, all Canadian sellers will be transitioning permanently to CAD. This brings Canada in line with all other countries on Whatnot in selling in local currency.
Buyer Effects
Will US buyers continue to see USD in my streams?
No, all buyers (regardless of where they are joining from) will purchase in CAD. Anyone from outside of Canada will see price estimates in their local currency alongside CAD.
How will FX fees work for buyers?
Since streams will be denominated in CAD, Buyers with CAD payment methods or payment methods with no foreign exchange charges will not incur any FX fees when purchasing from Canadian streams.
What will happen to my referral currency balance?
Any Whatnot referral credits in USD amassed prior to conversion will not be converted to CAD. You can use them as normal in any USD-denominated stream.
Why can’t my buyers use PayPal in my stream?
PayPal will not be available for any CAD transactions at this time. This includes purchasing items on Whatnot as well as withdrawing Whatnot balance.
Seller Effects
What will happen to my USD balance after my account is converted to CAD?
Your USD balance will automatically be cashed out to your default payout method upon conversion. Any balance that is pending or any orders sold prior to the conversion date that complete within 60D of the conversion date will settle in USD and be automatically paid out to your default payout method. Every day for the next 60D Whatnot will push any pending USD balance in your account automatically to your default payout method.
How do I see my USD balance after my account is converted to CAD?
Your USD balance will only be visible on web. In order to access it, navigate to:
- Your account icon on the top right corner
- Under the selling tab, go to Financials
You will see your CAD balance in large numbers, followed by the USD balance that is processing. Any pending USD balance will be pushed to your default payout method each day
How will FX fees work for sellers?
CAD transactions will land in Seller CAD balances and paid out in CAD. Please link a CAD bank account to avoid paying FX payout fees. Pending USD transactions will land in Seller USD balances and automatically paid out in USD to Seller default payment method.
How will my listings be converted from USD to CAD?
On the conversion date, the value of your listings will be converted from USD to CAD by using the conversion rate per the Bank of Canada. Sellers can always edit listing prices after the conversion!
How will my rewards club and coupons be converted from USD to CAD?
Rewards club tier thresholds and reward amounts will be converted to CAD at the Bank of Canada’s FX rate the day prior to conversion. If you wish to edit your rewards or thresholds after conversion, please write in to seller support to assist you. Any existing coupons in USD will be disabled and sellers will need to re-issue them in the desired CAD amount.
What happens if I have a negative USD balance during conversion?
No worries! We will convert any negative USD balance during the conversion period into an equivalent negative CAD balance, which will be applied to your CAD balance.
Why are Ads still in USD?
Ads spend will be maintained in USD for the 60D transition period. Once seller balances have converted to support only CAD, sellers will be able to use their CAD balance to purchase ads. In the meantime, ads purchases will continue to come from your USD balance. Any negative USD balance at the end of the 60D period will be converted into an equivalent negative CAD balance, which will be applied to your outstanding CAD balance.
Payouts
Will seller payouts be in CAD or USD?
For sales made after your conversion date, earnings and payouts will be in CAD. For any orders sold prior to your conversion date that complete within 60D of the conversion date, payouts will settle in USD and be automatically paid out to your default payout method. You can see how to link a new payout method in the Whatnot Seller Academy
Can I still use PayPal for payouts?
PayPal payouts in CAD will be disabled. If PayPal is set as your default payout method, you will still receive USD payouts through PayPal until 60D after your account is converted. After that, PayPal payouts in USD will also be turned off, and you will need to connect a bank account to receive your payouts.
How can I link up a new bank account for CAD payouts?
Check out our seller academy for details on how to set up a new payout account on Web, iOS, or Android!
What is Stripe and do I need to create an account?
Stripe is the service we use to connect your bank account directly to Whatnot. You simply need to upload your basic bank account information via Stripe and you’ll be able to cash out your Whatnot balance - fee free!