FNB / Paypal - What BOP code to use?

[C4Cat]

I put in a pre-order with an American company about 6 months ago for a product not yet released and paid a deposit of $90 via PayPal.
Now, with the depreciating Rand, I decided it's getting too expensive so I asked them to cancel my order.
They complied immediately, cancelled my order and put $90 back into my PayPal account.

I then received an email from PayPal saying I'm not allowed to spend the money and must withdraw it into my bank account within 30 days. So I connected my PayPal account to my FNB account and tried to withdraw the money.

However, one of the things the ask for is the reason for receiving the funds - a BOP code - must be selected - but none of the codes provided seem to fit this case of a refund.

The available codes can be found here: https://www.fnb.co.za/downloads/travel/SARB_BoP_Codes_for_Inwards_Transactions.pdf

I contacted FNB on Monday (via online support form) but am still waiting for them to get back to me.

This must be a common scenario, so I thought perhaps someone here would know what code I'm supposed to use?

Thanks!

 

[envo]

Say it's a gift, you're allowed 500k a year in gift

Plus they lie. You can spend your PayPal balance and don't have to withdraw it. It's just ****ty regulations imposed by SARB and is a waste of money because there's fees associated with it.

Weigh up how much you'd be saving if you get the money vs just paying for stuff in $ you would anyway on a monthly basis (like Netflix) and see if it's worth the bank charges

 

[C4Cat]

Say it's a gift, you're allowed 500k a year in gift

Plus they lie. You can spend your PayPal balance and don't have to withdraw it. It's just ****ty regulations imposed by SARB and is a waste of money because there's fees associated with it.

Weigh up how much you'd be saving if you get the money vs just paying for stuff in $ you would anyway on a monthly basis (like Netflix) and see if it's worth the bank charges

I'm just worried that now that I've connected my FNB account to PayPal they will notice if I start spending the money.

 

[Praemon]

The available codes can be found here: https://www.fnb.co.za/downloads/travel/SARB_BoP_Codes_for_Inwards_Transactions.pdf

That's the full list of BOP codes. FNB Paypal only has like 10, and technically, using an incorrect code is not allowed (ie. you can't use the service if the code doesn't explicitly match your transaction). Which is utter BS, since their codes exclude things like software bought or sold over the internet. Go figure. I guess if you're not that concerned about it, just say it's a Gift. There's no BOP cat that matches your transaction for FNB Paypal withdrawals.

 

[envo]

I'm just worried that now that I've connected my FNB account to PayPal they will notice if I start spending the money.

They won't. I've only extracted my money from PayPal once. The rest of the time I keep a balance and pay for stuff out of it. The cost in exchange rates and bank fees doesn't justify pulling out less than $100 and spending $100 again (banks sell it for more than they buy it at + the fees they charge, stupid)

Been doing this since 2010 and have my FNB account linked

 

[C4Cat]

Ok thanks, I guess I'll have to wait and see if I get a response from FNB, otherwise I'll just spend it again or declare it as a gift. It's not like it's a huge amount anyway, I'm sure SARS have bigger things to worry about!

 

[RustyPrincess]

FNB can't even consistently pick up my paypal balance, so I'm just leaving my money in my paypal account now.