Cheapest FNB Account to Withdraw Paypal Funds

[veggie_mane]

Hi

As stated in the title, I'm looking for the cheapest way to withdraw funds from a paypal account.

From what I understand, you need a FNB account to do so in South Africa.

I don't currently bank with FNB, and do not want to move my account over to them.

Instead I'd like to set up the cheapest FNB account to withdraw Paypal funds, without paying unnecessary monthly fees etc as I will only be using this account to withdraw Paypal funds about once every 6 months or so.

Does anyone here have any experience with this? The FNB website is quite confusing and I imagine contacting FNB about this will only lead to them trying to upsell me some expensive account.

TIA

 

[Sinbad]

You don't need an FNB account afaik. On their PayPal page you can link to a non fnb account... Not sure how you register for the online banking though, but that's where it is done

 

[NeonNinja]

Don't need FNB. Just easier with them.

 

[mh348]

Hi

As stated in the title, I'm looking for the cheapest way to withdraw funds from a paypal account.

From what I understand, you need a FNB account to do so in South Africa.

I don't currently bank with FNB, and do not want to move my account over to them.

Instead I'd like to set up the cheapest FNB account to withdraw Paypal funds, without paying unnecessary monthly fees etc as I will only be using this account to withdraw Paypal funds about once every 6 months or so.

Does anyone here have any experience with this? The FNB website is quite confusing and I imagine contacting FNB about this will only lead to them trying to upsell me some expensive account.

TIA

PM ScottulusMaximus, I recall he was looking for Paypal funds, you can Transfer to him and he can eft Rands to you.

Paypal to Paypal is free (no transaction fees), same with EFT, so both of you save on fees

 

[treeman]

You can withdraw Paypal funds into a FNB easy account. When I set this up last year there was a lot of confusion from the bank staff about having to withdraw via a cheque account with higher fees, however I insisted that they use an easy account and it works.

 

[milan188]

You can link a non fnb account to the FNB online banking I have done it with my standard bank account.

 

[mercurial]

You don't need an FNB account afaik. On their PayPal page you can link to a non fnb account... Not sure how you register for the online banking though, but that's where it is done

How?

 

[NarrowBandFtw]

How?

Go into any FNB branch and tell them you need to create an online banking profile to use with PayPal withdrawals, but you don't have or want an FNB account.

They will look at you funny and talk to each other at length, but once they figure out this is actually something FNB supports they will do it with the normal FICA checks and what not.

Once you have a profile you add your bank account to the PayPal configuration on FNB's online platform, it doesn't matter which bank that account is with.

EDIT: and to the OP, what others said, you don't need an FNB account at all, but if you must, FNB Easy is the one at R5 per month

 

[mercurial]

Go into any FNB branch and tell them you need to create an online banking profile to use with PayPal withdrawals, but you don't have or want an FNB account.

They will look at you funny and talk to each other at length, but once they figure out this is actually something FNB supports they will do it with the normal FICA checks and what not.

Once you have a profile you add your bank account to the PayPal configuration on FNB's online platform, it doesn't matter which bank that account is with.

EDIT: and to the OP, what others said, you don't need an FNB account at all, but if you must, FNB Easy is the one at R5 per month

Great, thank you

 

[veggie_mane]

I think you can now withdraw funds from PayPal to other major banks (other than FNB).