Paypal transfer/withdrawal fee to FNB acc

Kat2016

Well-Known Member
Joined
Jul 19, 2016
Messages
341
Good morning,

I've done freelance work for a few years for an overseas company and they have paid me via forex which has worked out well until now. However, last month the charges on the amount were over R350 which is about R200 more than it's been before.

I decided to open a paypal account as I know it can be withdrawn into an FNB account and the transfer fees are lower. My question is what percentage should I add to the invoice for transfer fees. I know paypal charges about 4.5% and then FNB about 1.5% of the amount. So 6.4% should cover it?

Would appreciate some advice from anyone who has experience with receiving and withdrawing funds from paypal :)

Thanks!
 

flippakitten

Expert Member
Joined
Aug 5, 2015
Messages
2,486
Have you looked at something like http://www.payoneer.com/ it's a 1% and 4% charge.
You can order a payoneer card and then draw the money at an ATM.

Anyway, I've always just swallowed the bank charges and then claimed it back from Tax.
 
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