Paypal account

[cerebus]

Is there anything stopping me from opening an international bank account and sending Paypal payments there?

....then why do you need paypal at all?

 

[Merlin]

....then why do you need paypal at all?

Well, I don't bank with FNB and I don't intend to either.

If these new rules state that I need to remove the money from Paypal within 30 days, why not send it to an overseas account (to keep it in forex) instead of enriching local coffers.

 

[cerebus]

Well, I don't bank with FNB and I don't intend to either.

If these new rules state that I need to remove the money from Paypal within 30 days, why not send it to an overseas account (to keep it in forex) instead of enriching local coffers.

Right, much better to enrich foreign coffers.

Yea well i don't see why you can't do that if there's a forex benefit for you.

 

[noxibox]

Is there anything stopping me from opening an international bank account and sending Paypal payments there?

That's typically not easy these days with all the money laundering and terrorism paranoia. There are places in the world that will open an account with little difficulty, but they usually require fairly substantial deposits.

Be aware that what you're trying to do could be considered tax evasion.

 

[Merlin]

Avoiding paying tax TWICE on the SAME money is not evading. It's theft prevention.

*clears throat* Attention, the world! I wish to leave the dark continent. I am a nice chap and I have really neat dogs. Who of you will let me move in, please?

Thanks for the info'.

 

[noxibox]

If you're paying income tax in another country, then apply for a bank account in that country.

 

[Merlin]

If had the opportunity to pay income tax in another country it would mean I would be able to live in that country, which means we wouldn't be having this discussion because I would have been there...a LONG time ago.

 

[noxibox]

Then no double tax to worry about.

 

[Milano]

I'm only receiving random small amounts. So it is still cheap. Cost me about R15 to withdraw R1k from PayPal. Not so bad.

What other fees are there besides that R15? How much does PayPal charge and how much does FNB charge per R1k?

 

[Shibal]

Is there anything stopping me from opening an international bank account and sending Paypal payments there?

You will need to be present with your confirmation of address when opening the account, but other than that, should be no problem.

 

[Merlin]

You will need to be present with your confirmation of address when opening the account, but other than that, should be no problem.

Thanks, Shibal.

 

[cerebus]

What other fees are there besides that R15? How much does PayPal charge and how much does FNB charge per R1k?

There are no other fees. Paypal takes I think a 1% commission or something to that effect, and FNB doesn't charge anything.