Do we have PayPal?

[SauRoNZA]

But the first few years were hoops? Didn't we only get it 2010?

Also, what do banks even have to do with it, if you register with PayPal?

Banks are only relevant if you want to receive money.

If you are sending money it's basically just a virtual credit card.

There were never any hoops to send money which is what the vast majority of people do.

Never any hoops to receive either actually. We just didn't have the option at all.

 

[Adenoid Hynkel]

Actually it isn't pathetic, have you actually done a international wire transfer, I have done 100's with skrill and skrill charges for the deposit into your skrill account charges for the withdrawal and then the bank this side charges for international incoming fee plus you have to phone the bank to have the funds clear, pending the amount that can also take 3 or so days.

Costs about R650~ odd on 13K and some charges are often in the currency you transferred, you even pay VAT of administration fee, The min admin fee with ABSA is regardless of the amount R150.00

Paypal does batch transfers every few days, and considerably cheaper meaning you just pay for the initial deposit to the paypal account, considering I get paid from another paypal account, I don't pay any fees nor any paypal fees for the withdrawal.

FNB charges 1.5% on the amount transferred and buys the currency at normal buying rate, about $0.25 less then the dollar/rand exchange rate.Considering buying and selling currencies all have fees attached I don't take it into consideration, all your really paying is the 1.5% on the withdrawal amount.

So yeah pathetic that FNB and paypal can save me 100's each month and don't have to phone any bank, paypal or any one to get it done and takes less then 5 minutes to get it done.

Try a international wire transfer then you have a reason to btich and moan......

Skrill - lol. Bunch of crooks.

I receive money monthly from clients abroad. Mostly EU. I have been using PayPal for years.

Still pathetic that it takes 5-8 business days to clear in SA. If I wire money from my personal account (German PayPal account) to my German bank account, it's available within 1 day. So are you saying it's PayPal that only sends money to fnb in batches? Or is fnb sitting on your dollars for a week? I honestly don't know.

Global payments with fnb aren't too costly either. I get 50% back in ebucks every month on the fees.

I also used payoneers MasterCard. But they have hidden fees. Learned it the hard way.

So yes, agree with you, PayPal + FNB is a good option to receive funds from abroad if you're in SA, but there are even cheaper ways if you have a bank account in the EU