PayPal Noob.

[moeminty]

Hey guys, I really need some help with regards to PayPal, I've received some PayPal money from a family member overseas.
I currently bank with FNB and have an online banking profile with them.
I know I have to link my PayPal account to the FNB card.
I just want to know how withdrawing the money works ?
After I withdraw the money from my PayPal to my FNB account, will I be able to withdraw that money from an ATM?
And I can use it by swiping to pay at stores ?
It's really stupid questions but I'd appreciate the help.
Thanks in advanced !

 

[Albert Broco]

Hey guys, I really need some help with regards to PayPal, I've received some PayPal money from a family member overseas.
I currently bank with FNB and have an online banking profile with them.
I know I have to link my PayPal account to the FNB card.
I just want to know how withdrawing the money works ?
After I withdraw the money from my PayPal to my FNB account, will I be able to withdraw that money from an ATM?
And I can use it by swiping to pay at stores ?
It's really stupid questions but I'd appreciate the help.
Thanks in advanced !

Yes, after you have linked your Paypal profile to your FNB account, you can transfer Paypal funds to your FNB account. If you have more than one FNB account, you can even choose into which account the Paypal funds must go.

When you request a Paypal transfer, FNB system will give you a quote in Rands, based on the current exchange rate, which you need to accept. They will also show their charges. As example, you have $100 in Paypal. In Rands they will quote you R1438 minus their fee of, say, R24. So, you will be getting R1414 in your bank account.

The is a minimum of 5 working day waiting period before the money will reflect in your account.

Once the money is in your bank account, it is just like normal money there. You can do with it as you please - withdraw at ATMs, transfer to other accounts, swipe your card for purchases, etc.

 

[moeminty]

Yes, after you have linked your Paypal profile to your FNB account, you can transfer Paypal funds to your FNB account. If you have more than one FNB account, you can even choose into which account the Paypal funds must go.

When you request a Paypal transfer, FNB system will give you a quote in Rands, based on the current exchange rate, which you need to accept. They will also show their charges. As example, you have $100 in Paypal. In Rands they will quote you R1438 minus their fee of, say, R24. So, you will be getting R1414 in your bank account.

The is a minimum of 5 working day waiting period before the money will reflect in your account.

Once the money is in your bank account, it is just like normal money there. You can do with it as you please - withdraw at ATMs, transfer to other accounts, swipe your card for purchases, etc.

Thank you !

 

[wizardofid]

Some thing not mentioned, is to link the pay account you require a mastercard debit or a credit card, visa debit cards doesn't work.