Quick paypal withdrawal

[Dave]

Paypal takes a transaction fee for goods & services received*.

FNB also take a cut on top of that, 1.5% including VAT. And there is the usually lower exchange rate.

*with a caveat that money sent as a “Friends and Family” payment has no transaction fee levied by Paypal to either the sender or recipient.

 

[RedViking]

*with a caveat that money sent as a “Friends and Family” payment has no transaction fee to either the sender or recipient.

Yap. When I started getting in bigger pay payments for my Freelancing work, PayPal blocked my account and said they will only unblock it if the payments are marked as services.... Oh well.

 

[wizardofid]

Paypal takes a transaction fee for goods & services received.



FNB also take a cut on top of that, 1.5% including VAT. And there is the usually lower exchange rate.

Sigh lower exchange rate ? Seriously, Seriously you are aware of buying and selling rates, it isn't exclusive to this type of transaction even a swift transfer is going to be at the buying rate, exchange money at a forex at the airport is going to entail the exact same thing. So it's not a unique fee, it's standard forex rates.

 

[RedViking]

Sigh lower exchange rate ? Seriously, Seriously you are aware of buying and selling rates, it isn't exclusive to this type of transaction even a swift transfer is going to be at the buying rate, exchange money at a forex at the airport is going to entail the exact same thing. So it's not a unique fee, it's standard forex rates.

[FNB - Paypal]

 

[wizardofid]

[FNB - Paypal]

Sigh don't be that guy,buying rate will be exactly the same as on this page, for any paypal withdrawal, you exchange forex at the bank these rates will be the same.
https://www.fnb.co.za/rates/ForeignExchangeRates.html


Here is ABSA (slightly better but I don't think they updated recently)
http://cib.absa.co.za/liverates/pages/default.aspx

Lower exchange rate = forex rates, standard practice with every thing that entails buying and selling in other currencies/converting/transfer/withdrawal, it's not a unique FNB/paypal only thing dude.You are trying to look smart, but failing hard......

 

[RedViking]

Sigh don't be that guy,buying rate will be exactly the same as on this page, for any paypal withdrawal, you exchange forex at the bank these rates will be the same.
https://www.fnb.co.za/rates/ForeignExchangeRates.html


Here is ABSA (slightly better but I don't think they updated recently)
http://cib.absa.co.za/liverates/pages/default.aspx

Lower exchange rate = forex rates, standard practice with every thing that entails buying and selling in other currencies/converting/transfer/withdrawal, it's not a unique FNB/paypal only thing dude.You are trying to look smart, but failing hard......

OK. You're a bit of a drama queen. I see.

 

[airborne]

OK. You're a bit of a drama queen. I see.

The handbags are swinging.

 

[wizardofid]

Lol man bag, no the dude just doesn't get it ...beside I don't swing I throw preferably with a bowling ball in the bag, nor do I throw like a girl you would think common sense would be as abundant as flat earthers or mole people

 

[aalwees]

This is from the FNB Fees and Timing PayPal page. Emphasis mine. You're a captive market here:

PayPal fees*

No PayPal account set up costs.
When receiving funds into your PayPal account, PayPal charges between 2.4% and 3.9% + USD 0.30 per transaction.
PayPal currency conversion fees may apply at 2.5% above the prevailing exchange rate.

**Please visit www.paypal.com for more information.
FNB Fees

FNB will quote a USD to your local currency (Pula) exchange rate for each withdrawal transaction.
FNB charges a transaction fee of 1.5% of the withdrawal amount.

How long does it take to get paid?

Payment from another PayPal user is almost instant.
A withdraw from a PayPal account take 5 to 8 business days to reflect in your FNB Bank account.

 

[SA-UK]

Paypal to a UK bank account is instant and there is no charge to do it, Paypal don’t charge to withdraw money to the bank account.

+1

But I remember well that until a few years Paypal and the Banks held onto the money for 3-5 days to supposedly "clear".
In reality that was just an excuse to hold onto the funds for longer for interest,quick investing returns, etc

They all bloody liars, only gov legislation forced them to do the right thing and give ppl their money instantaneously!