FNB PayPal withdrawal.

rvZA

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Jan 3, 2021
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Lol you're the one that mentioned mucking about getting a cheque account, fica docs and going into a branch.

Lol. But of course. Your first step is to open an FNB bank account if you do not already have one. They require you to visit the branch with your FICA documents when you open an account online.

I advised a cheque account, merely because there are many complaints from people complaining that they cannot link some savings account to Paypal.
 

Pho3nix

The Legend
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Jul 31, 2009
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29,104
Lol. Have you ever transferred Paypal to any SA bank account?

Firstly, you need to have an FNB account. This is not negotionable. Once you setup Paypal inside your FNB account you do indeed have the option of adding another bank account to which you can withdraw Paypals outside FNB.

So, each time you want to withdraw Paypal, you log into your FNB account, select the bank account you want it paid into, and complete the rest of the withdrawal.

Without an FNB account, you cannot get Paypal in SA paid out.

Use TransferWise and you don't need FNB?
 

Corelli

Expert Member
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Jun 20, 2008
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2,111
Paypal is such a waste lately. Used to love it, now it's honestly rubbish. If your business does well, open an account via STD bank at the Isle of Man. They allow it if youre quite busy. That way its easier.

I lost interest in Paypal, when any money earned from abroad, couldnt be spent on buying goods in SA. Even for money transfers we now use World Remit
 

deweyzeph

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Apr 17, 2009
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9,062
Lol. But of course. Your first step is to open an FNB bank account if you do not already have one. They require you to visit the branch with your FICA documents when you open an account online.

I advised a cheque account, merely because there are many complaints from people complaining that they cannot link some savings account to Paypal.

FNB accepts FICA documents electronically via email or upload via online banking. There's no need to physically go into a branch.
 

rvZA

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Jan 3, 2021
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FNB accepts FICA documents electronically via email or upload via online banking. There's no need to physically go into a branch.
Good luck with that.

I know you could do this before. But, last year, I was forced to the branch when opening 3 new accounts. Last year and this year on my 28 year old account with them, I had to visit a branch with my Fica documents and they seem to no longer allow me to upload it.
 
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Pho3nix

The Legend
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Jul 31, 2009
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Paypal is such a waste lately. Used to love it, now it's honestly rubbish. If your business does well, open an account via STD bank at the Isle of Man. They allow it if youre quite busy. That way its easier.

I lost interest in Paypal, when any money earned from abroad, couldnt be spent on buying goods in SA. Even for money transfers we now use World Remit

Do they give you a card to actually use the account ?
 

rvZA

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Jan 3, 2021
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Use TransferWise and you don't need FNB?
You can, but you will need to open one of their US bank accounts, which are expensive. Then you can link the bank account to Paypal. After a number of transfers, Paypal will place limits on your account and you will need to accept a declaration and they will be reporting your transactions to the IRS.

Happened to me a while ago. I had no issues since I have a personal ITIN no with the IRS.
 

rvZA

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Jan 3, 2021
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Do they give you a card to actually use the account ?

It will cost you a substantial amount of money to open such account. Be ready to sell your house to fund it. But, then yes, you will get a card.

In fact, it would cost you much cheaper to get on a plane, fly to New York for 3 days and visit Citibank and Wells Fargo and open an account there as a foreigner. You will also get a check card which you can use globally, but you need to inform them to activate it for you while you are at the branch.
 

Swa

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May 4, 2012
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30,103
how do I setup a free FNB online account so I can receive money via pay pal?
You don't need one. You set up an FNB profile and link your Paypal account together with selecting an SA bank account. I had trouble though with doing the Fica through their online portal and had to go into a branch.
 

Pho3nix

The Legend
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You can, but you will need to open one of their US bank accounts, which are expensive. Then you can link the bank account to Paypal. After a number of transfers, Paypal will place limits on your account and you will need to accept a declaration and they will be reporting your transactions to the IRS.

Happened to me a while ago. I had no issues since I have a personal ITIN no with the IRS.

Dude I've been using TransferWise for a while. Paying 10$ to send money to my SA account. US account from TransferWise is free as well. PayPal had some questions about my business account with them which I resolved easily.

You're overcomplicating the process
 
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Swa

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May 4, 2012
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Lol. Have you ever transferred Paypal to any SA bank account?

Firstly, you need to have an FNB account. This is not negotionable. Once you setup Paypal inside your FNB account you do indeed have the option of adding another bank account to which you can withdraw Paypals outside FNB.

So, each time you want to withdraw Paypal, you log into your FNB account, select the bank account you want it paid into, and complete the rest of the withdrawal.

Without an FNB account, you cannot get Paypal in SA paid out.
I have.
 

rvZA

Executive Member
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Jan 3, 2021
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Dude I've been using TransferWise for a while. Paying 10$ to send money to my SA account. US account from TransferWise is free as well. PayPal had some questions about my business account with them which I resolved easily.

You're overcomplicating the process

Funny. I had to pay US$35 to open my US account with TransferWise and get a US bank account through them as well.
 

deweyzeph

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Apr 17, 2009
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is that the same as Paypal? and do overseas people know about this?

They don't need to know about it. Transferwise gives you a virtual bank account for whatever currency you choose, and then you give them the bank account number and they do a normal EFT to it.
 

46Female

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Apr 20, 2021
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Well it is two different services. Either you use PayPal or you use Transferwise. But as you know with PayPal you are at the mercy of FNB whether they want you to receive money or not.

What can try is open a bank account with Transferwise in the same currency you receive in PayPal (USD?) and then transfer money from your PayPal to your US bank with Transferwise. Then once the money reflect there you send it to your SA Bank.

It's just a pain as I don't know how much you will lose in Transfer fees from Paypal to Transferwise. Then of course there will be transfer fees from Wise to ZAR bank.

But maybe test it with a couple of dollars.
lol if you start with R1000 then with all the transfer fees you might be left with R100
 

RedViking

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Feb 23, 2012
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is that the same as Paypal? and do overseas people know about this?
Much simpler. You get a bank account number for the country you want to get paid in. Overseas people just do a normal transfer as to any other bank.
 

RedViking

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Feb 23, 2012
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41,735
Funny. I had to pay US$35 to open my US account with TransferWise and get a US bank account through them as well.
Yap, also did a 35$ deposit. But wasn't an issue. Can withdraw again.
 
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