PayPal BOP code, and anything else I need to know?

[Reaper1242]

I've got my first international client and since I've never received payment through Paypal, I want to make sure I do it right. So which BOP code do I use for web design services?

And then is there anything I should know so I don't run into any problems?

Oh, and then when trying to grant permission on FNB I just get an E-90909 code. Anyone know what that's all about?

 

[RedViking]

Do not use PayPal.

Set up a Wise account.

Thank me later.

 

[RedViking]

FN PayPal Info 8am to 5pm only.

087 572 9725

 

[Reaper1242]

Do not use PayPal.

Set up a Wise account.

Oh yes. I've heard of Wise. Which is better though? Wise or Payoneer?

 

[RedViking]

Oh yes. I've heard of Wise. Which is better though? Wise or Payoneer?

Don't know. Wise works great.

 

[Reaper1242]

Don't know. Wise works great.

Great stuff. Thank you. Glad I asked

 

[Reaper1242]

Don't know. Wise works great.

Sorry, one last question. Should I open a Personal or Business account. I mean I know it's technically business but is there a reason not to choose it?

 

[Speedster]

Oh yes. I've heard of Wise. Which is better though? Wise or Payoneer?

Definitely Wise

You’ve been invited to Wise – Join and get a discount.

Banks sting you with hidden charges when you send or spend money internationally. But that’s yesterday’s problem. Say hello to Wise – the clever new way to move your money.

wise.com

 

[Reaper1242]

Definitely Wise

You’ve been invited to Wise – Join and get a discount.

Banks sting you with hidden charges when you send or spend money internationally. But that’s yesterday’s problem. Say hello to Wise – the clever new way to move your money.

wise.com

Thank you. Appreciate the advice

 

[RedViking]

Sorry, one last question. Should I open a Personal or Business account. I mean I know it's technically business but is there a reason not to choose it?

Business for PayPal.

For wise i cant remember as they had the conditions. I think it is personal for wise. But the personal for wise is not the same as the personal for PayPal. As personal for wise can still be used for Business.

 

[Speedster]

Sorry, one last question. Should I open a Personal or Business account. I mean I know it's technically business but is there a reason not to choose it?

Open a personal account and then add a business account to your profile

For a business account you'll need to add proof of incorporation documents etc.

Also, if you could I'd appreciate if you use my referral link above

 

[Reaper1242]

Open a personal account and then add a business account to your profile

For a business account you'll need to add proof of incorporation documents etc.

Also, if you could I'd appreciate if you use my referral link above

Thank you. Consider it done.

 

[Napalm2880]

Do not use PayPal.

Set up a Wise account.

Thank me later.

I'm curious as to why?

 

[RedViking]

For Wise, if you not planning to pay employees I would just use the private one.

 

[RedViking]

I'm curious as to why?

Wise is super straightforward, cheaper and you don't need to go through FNB or another bank to link your account. Wise you can also easily open a bank account in other currencies. It's super simple to work with. I have been freelancing for 15 years. Switched to wise a couple of years ago and never looked back. FNB is honestly just a hassle and you lose a lot in conversion and banking fees.

 

[Speedster]

Wise is super straightforward, cheaper and you don't need to go through FNB or another bank to link your account. Wise you can also easily open a bank account in other currencies. It's super simple to work with. I have been freelancing for 15 years. Switched to wise a couple of years ago and never looked back. FNB is honestly just a hassle and you lose a lot in conversion and banking fees.

Also easier to receive payment as payer just makes a normal bank transfer to a local bank in their currency, just as if they were making a local payment

 

[RedViking]

Also easier to receive payment as payer just makes a normal bank transfer to a local bank in their currency, just as if they were making a local payment

Yap for the currencies with bank accounts it is a no brainer. If the have a Wise account as well, bonus, as it cost them zero in transfer fees.

 

[RedViking]

web design services?

I can't remember the code now, but it was the one for consulting or computer services or something. What I used anyways.

 

[pstation]

Paypal sucks to use in SA because you get screwed at so many steps along the way with fees.

1st fee) Unless the client you're working with is based in Singapore or has a no ftf card, their bank will charge them perhaps a 3% foreign transaction fee
2nd fee) Paypal charges you almost 4% or so to you to receive the payment
3rd fee) FNB charges 1.5% to withdraw.
4th fee) FNB charges around a 3% spread when going from USD to ZAR.

 

[Reaper1242]

Paypal sucks to use in SA because you get screwed at so many steps along the way with fees.

1st fee) Unless the client you're working with is based in Singapore or has a no ftf card, their bank will charge them perhaps a 3% foreign transaction fee
2nd fee) Paypal charges you almost 4% or so to you to receive the payment
3rd fee) FNB charges 1.5% to withdraw.
4th fee) FNB charges around a 3% spread when going from USD to ZAR.

Yea now I've looked into it I see how bad it is. I've never needed to use it except for the occasional gateway to pay for something. I kind of just defaulted to PayPal.

But thankfully I asked here. Tested Wise by sending the opening fee back to myself. Opening and verifying the account took minutes. Even with the SARB form it was still transferred faster than an inter-bank transfer here. And fees are so much lower.
Wise for the win.