Paypal and FNB

[shimmergirl]

Thanks for the reply. You said you used a student account and it worked. Is it a cheque account? or did you enter another credit card's details too?

 

[Freaksta]

Thanks for the reply. You said you used a student account and it worked. Is it a cheque account? or did you enter another credit card's details too?

Yep sorry i though i mentioned that.. I used another credit card to "verfiy" my paypal 1st

 

[AfricanElement]

You cannot verify paypal with a debit card, like Freaksta said, you need a credit or cheque account. If you're a student you can't get a credit card because you either need to be permanently employed or you need a retail account like at edgars or woolworths and to get a retail account you need a salary. (So need to be in debt to get credit. :/ ) So basically no job no credit card. You can still be a millionaire from inherited wealth but the bank isn't going to give you credit.

The other option is a cheque account. For that you need a minimum of R3500.00 a month being deposited into the account. Where that money comes from is not important so you don't need to hold a permanent position at a company or business, you just need to have the funds to transfer in your cheque account every month. In other words you pay yourself a salary.

However I'm wondering about something else. Assuming you use a cheque account to activate paypal, can you now receive money from a foreign source? What I've read is that the Reserve Bank still has no idea what e-commerce is and as such has restricted South Africans to using caveman financial services.

Has anyone with this FNB paypal actually used it for foreign business. Both sending and receiving money?

 

[AfricanElement]

Buying things online has never been a problem. Selling and receiving payment is the problem.

 

[D3x!]

I tried linking my paypal to my FNB online but after an hour or two i gave up and just entered my card information straight into paypal, the problem i had is the email you get with the verification code from FNB took so long that it was not valid any more...

 

[AfricanElement]

hah, thats pretty funny. Efficiency is not the word that springs to mind when I think of FNB. Anyway have you actually managed to receive money yet from someone who's not South African?

 

[AntiThesis]

Yeaaaah - I've got this all linked up but there are still some glitches in the system

Paypal account shows in FNB but has no balance (verified with Gold Cheque account) and when I transfer from Paypal to FNB, it immediately reverses the transaction. So I get nailed the fee for Paypal to FNB, then FNB sends it right back to Paypal and I get nailed for that Swell huh?
If that gets fixed it'll be nice.

Also, it takes more than a few days for cash to get from FNB to Paypal - since the Cheque card can be used as a credit card for Paypal topups that are instant, it's hard to figure out what the worth is.

 

[AfricanElement]

It does sound like a complete waste of time. It looks like the only viable way to get paid from overseas is via a bank authorized cheque which cost a small fortune.

 

[modernworldweb]

verify paypal

Hi there, it is VERY possible to link up any fnb account (including normal accounts like smart accounts) that has online banking to paypal. The catch only is that you need to verify your paypal account with a valid credit/debit card and this is what most dont have. But you can buy your own virtual credit card for $20 (about R140 or there abouts i think) here (the service is fast - almost instant - and no hassles - you can pay with paypal or moneybookers) and use it to verify your paypal and once you've done that you will easily be able to link up your fnb acc to paypal following the instructions in your online banking. Easy and hopefully a solution for those without a debit or credit card that works on paypal

 

[Fulcrum29]

Thread resurrection

Is it possible to link more than one PayPal instance to your FNB online banking?