I haven't checked the exchange rate but knowing Points.com it won't be good. But just an FYI: http://blog.points.com/2011/02/09/points-com-paypal-introduce-a-new-way-to-use-your-miles/ Points.com and PayPal team up It’s been a big week here at Points.com. As of this week, Points.com users can now redeem Aeroplan® miles, American Airlines AAdvantage Miles® and US Airways® Dividend Miles® into their PayPal accounts through our new partnership with PayPal. At Points.com we’re always looking for new and innovative ways to help people use their points, miles and rewards. Our partnership with PayPal gives loyalty program members even more flexibility with their reward programs. Redeeming into PayPal is currently available for the Aeroplan, AAdvantage and Dividend Miles programs, but we will be rolling this feature for even more loyalty programs over the next few months.