Legally get a paypal merchant account

[VMO]

Originally Posted by rurapente

Remember you have a limit in how much you can send or receive out of the country.

Would you please inform me how much or to what extent one, as a South African National, can SEND money as GIFT/DONATION to outside countries? What the SARB says on the limit?

[Tweak]

Originally Posted by VMO

Would you please inform me how much or to what extent one, as a South African National, can SEND money as GIFT/DONATION to outside countries? What the SARB says on the limit?

www.moneybookers.com

Step One: Sign up @ moneybookers.com (get your account number, this will be used as your reference when you deposit money)

Step Two: Verify your name/adress/ID Number(copy) to prevent money laundering scams

Step Three: Deposit money into their(MoneyBookers') local Standard Band Account along with your moneybookers account name as reference.


Step Four: Your Moneybookers (international) account will be accredited with the same ammount that you deposited into their StandardBank Account.


Final Step: Try to find merchants/seller who will accept moneybookers as payment method.


Unfortunately they don't work with ebay or amazon.com yet. But hopefully things will change for the better

[VMO]

Thanks Tweak for detailing the procedure for sending money abroad!
But I would like to know, how much, as per SARB Rules, one can send to outside countries in a year.

[Bondizzo]

Originally Posted by VMO

Thanks Tweak for detailing the procedure for sending money abroad!
But I would like to know, how much, as per SARB Rules, one can send to outside countries in a year.

about R140 000

[VMO]

Thanks Bondizzo!

[Bondizzo]

So you can recieve money via paypal if you contact the reserve bank ?

[Glock26]

No. It is Paypal's rules that you can't. Reserve bank permission isn't going to change that.
No signs of that changing either in the near future.

G26

[Agrotog]

create an offshore account....

let all the money go there. get someone who lives there to withdraw the cash for you and send it to you

i do that...family in China..i can send and recieve money no hassle. plus you can wire the money down to a bank in SA if you want.

ultimatewarez

how easy is it to create this offshore account? what is the process and what are the costs?

[Agrotog]

I am fortunate to have a paypal address in USA with bank account, provided by an associate of mine, and in SA I withdraw funds via the paypal debit card at any ATM.

KRAAI2009

Can this debit card work with all banks or only a specific one?

[Agrotog]

SARB has laws in place to prevent this from occuring. Its why only financial houses can do x-border money transfers. Remember you have a limit in how much you can send or receive out of the country. this is shared amongst financial institutions. if your friend/family "wire" you money its logged, and tracked.

And foremost, if SARS finds out you didnt declare receiving international funds you're gonna be sharing a cell with a guy named Lonely.

Rurapente

What are the annual limits? can these be increased? if so how?