The official bank in South Africa to transact with PayPal is the First National Bank (FNB). The FNB has however opened up access to the PayPal service so that people with accounts at any of the South African banks can link their bank accounts to their PayPal account and send or receive money.
Which banks work with PayPal in South Africa?
From there, you can link your PayPal to your bank account (yes, even if you bank with Standard, NedBank or ABSA, for some mad reason). There are a couple of terms and conditions to go with it, and your transactions to your SA bank account might take up to six days to go through so keep that in mind.
How do I get my money from PayPal in South Africa?
How to withdraw funds from PayPal?
- Visit the FNB PayPal Services website www.fnbwithdraw.com.
- Click on the “Log in” button.
- Enter PayPal login details.
- Click on the “Withdraw” button.
- Enter OTP.
- Capture the Withdraw details i.e. amount and reason for transaction, and click the “Get Quote” button.
- Accept the quote.
What bank works with PayPal?
Here are the banks that support Instant Transfer from your PayPal balance to your bank account: Bank of America. BNY Mellon. BB&T.
Does South Africa use PayPal?
PayPal opened its service to customers in South Africa, the PayPal service will be offered in partnership with FNB and has received approval from the Exchange Control Department of the South African Reserve Bank.
How do I withdraw money from PayPal capitec South Africa?
Click on PayPal Services and then on Withdraw from PayPal. Enter the transfer amount in USD dollars. (Please check that your PayPal balance is sufficient to make the transfer.) Follow the instructions to confirm the exchange rate, the Rand amount you will receive, and the Transaction Terms and Conditions.
How much does FNB charge for PayPal?
Visit www.paypal.com/bw for more information. FNB charges 1.5% of the USD amount per withdraw transaction.
Can I withdraw from PayPal in South Africa?
If you have a PayPal account in South Africa: You can withdraw withdraw money from your PayPal account directly to your First National Bank of South Africa (FNB) or any linked South African bank account. You will need an FNB Online Banking profile.
How much does PayPal cost in South Africa?
PayPal fees in ZAR
|Funding method||Destination country||Fees|
|Credit card, debit card or PayPal Credit||Any other country||5% of the transaction (US$0.99 minimum, US$4.99 maximum) + 3.4% of the transaction amount paid using a credit card, debit card or PayPal Credit + a fixed fee based on currency|
Does PayPal work with capitec bank?
The process of linking Capitec to PayPal has three sides to it: Capitec, PayPal, and FNB. … Now you need to make a PayPal account (if you don’t already have one). Once you have made your PayPal account, you need to verify it by linking your activated Capitec global one MasterCard.
Do I need a bank for PayPal?
No, you only need a PayPal Personal account. If you want to transfer the money you receive, just add a bank account to your PayPal account.
What if I don’t have a bank account for PayPal?
You don’t need a bank account to send or receive money through PayPal. However, you do need a bank account if you want to withdraw money from your PayPal account.
Do banks not allow PayPal?
You will be informed when linking the bank to the second PayPal account if you have been approved. We can confirm accounts from most banks and credit unions. Unfortunately, there are some banks that are not compatible with PayPal, including most online only or prepaid bank accounts.
What stores accept PayPal in South Africa?
Online South African stores that accept PayPal
- 3D Printing Store. …
- bidorbuy. …
- BrickLink. …
- Mantality. …
- MDF Models. …
- Netflix. …
- Netflorist. …
- PC Direct Online.
How does a PayPal account work in South Africa?
As the purchaser, you pay no fees to PayPal – the merchant is charged for the transaction, which is the same way credit card fees work in South Africa. There is also no monthly fee for holding a PayPal account. … PayPal will follow up with the seller and demand the money back.
Where can I withdraw PayPal money?
If you qualify, you can use your PayPal Debit MasterCard® at most ATMs to get cash from your PayPal Cash Plus account right away. Select Checking Account when you withdraw money from an ATM. You can also use your PayPal Debit MasterCard to make purchases anywhere MasterCard is accepted.