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Increase your market to overseas buyers through Paypal

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My daughter received this email today from Paypal:

 

Dear .......,

 

Thank you for receiving your online payments with PayPal.

 

Now that you are using PayPal to receive payments, we want to be sure you're aware of the following important South African exchange control regulations:

 

1. Funds you receive via PayPal can't be sent to other PayPal users.

 

2. You need to withdraw the received funds from your PayPal balance to a South African bank account within 30 days of receiving these funds.

 

In order to help you quickly and easily withdraw funds from your PayPal account, we have partnered with First National Bank (FNB). Together, we created the Top Up and Withdraw service with PayPal. To register for this service, follow these 4 steps:

 

1. If you don't already have one, open a FNB account by visiting the online FNB Product Shop or the FNB Branch nearest you.

spacer.gif 2. Once you have a FNB account, register for FNB Online Banking.

spacer.gif 3. Log in to your Online Banking profile and register for the Top Up and Withdraw service with PayPal.

spacer.gif 4. Link your verified PayPal account to your FNB Online Banking profile using the 'PayPal services' link on the 'accounts' tab.

 

Once you have registered, you can transfer funds (U.S. dollars) from your PayPal account to your qualifying FNB account in rands. Please note that FNB charges a small fee for each Withdrawal.

 

For more information regarding this service and how to register your PayPal account, go to: https://www.fnb.co.za/online-banking/pay-pal.html

 

You can also call FNB at 0861 PAYPAL (729725), or send an email to paypalenquiries@fnb.co.za.

 

Regards,

PayPal

 

As an overseas buyer I have to tell you that if you don't have the BoB Credit Card option or Paypal you normally lose my bid... and there are more and more overseas buyers (like me) now watching BoB.

 

Kind regards

 

Scott Balson

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wayjen

Hi Scott

 

Paypal is a godsend and well worth having. You also don't need to go to go through our local banks to get it.

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Seven Veils Trading

PayPal is great - makes doing oversees purchases so much easier too. EFTs take up to four days to complete transnationally, and not everyone is keen to hand over their banking details to some dude from Africa! So PayPal is a must for online commerce.

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anerstemens

Can pay pall be connected to ABSA tjek account? Is it possible?

 

Thank you>

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mellowred
Hi Scott

 

Paypal is a godsend and well worth having. You also don't need to go to go through our local banks to get it.

 

Please explain this one Wayne. Don't you need an FNB account or a credit card?

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wayjen
Please explain this one Wayne. Don't you need an FNB account or a credit card?

 

you need family in the USA.

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voldermort
you need family in the USA.

 

So damn uncool and unfair!!

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wayjen
So damn uncool and unfair!!

 

we offered it to you remember.

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voldermort
we offered it to you remember.

 

ja and then you never mentioned it again so i thought you had retracted the offer :worried:

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wayjen
ja and then you never mentioned it again so i thought you had retracted the offer :worried:

 

no sorry, I just asked Jenny now what the outcome was and she said she was waiting on you guys.

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mellowred
you need family in the USA.

 

Darn, doesn't help me much.

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Wild Olive Art

The last thing I want or need is a FNB bank account. More bank charges and hassle So until such time as my bank gets on board with Paypal I won't be using it. I do offer BOB credit card option and this will have to suffice . I don't believe the overseas interest is sufficient to warrant opening another bank account and dealing with the expense and headache of justifying cross border exchanges at this stage.

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qball
Can pay pall be connected to ABSA tjek account? Is it possible?

 

Thank you>

 

NO, only FNB account holders.

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