Selling Dollars on paypal

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Salmank

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Jun 27, 2016
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Hi,

So someone sent me $250 on paypal.

If I withdraw, I will lose out because of paypal fees, then FNB fees.

Is it possible to sell these to someone who needs to make an online purchase in US$. They will also lose out on conversion fees.

What is the best way to get these dollars into Rands
 
J

Jopie Fourie

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Aug 30, 2019
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Salmank said:
Hi,

So someone sent me $250 on paypal.

If I withdraw, I will lose out because of paypal fees, then FNB fees.

Is it possible to sell these to someone who needs to make an online purchase in US$. They will also lose out on conversion fees.

What is the best way to get these dollars into Rands
Click to expand...

There is no best ways to get it into Rands. There is only one way and that is through FNB. Any other way may cause you to loose even more money. Buyers will offer you much less than the actual Rand rate in any event. Besides, there will also be a Paypal transaction fee when you transfer this to another person and this will also be on you.
 
Swa

Swa

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Paypal doesn't charge a fee to transfer between SA citizens. But still nobody is going to take it when they can just use a credit or debit card. So either bite the bullet and pay the 4-5% total in fees or get a Payoneer account and deal with forex controls or spend it.

If it's a regular occurrence where you get thousands per year it may be worthwhile getting a Payoneer debit card account and then just spend it naturally from there.
 
S

Sensorei

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Buy something on an overseas online store like Gearbest or Banggood that you can sell for a profit in SA.
 
E

envo

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once you already have it, you dont pay paypal fees, you just pay fnb (too much)

they also pay you less per dollar than what you would buy it for, so best is to spend it on something you wanted to buy and save cash like that
 
M

MirageF1

Executive Member
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Jun 29, 2018
Messages
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As someone mentioned , use it to purchase an item from an online retailer, like Amazon,Ebay, etc

You can also gift it to someone who has use for it in $...no fees.

I've had a Paypal account since 2002.
 
The_Traveller

The_Traveller

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Aug 9, 2008
Messages
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Salmank said:
Hi,

So someone sent me $250 on paypal.

If I withdraw, I will lose out because of paypal fees, then FNB fees.

Is it possible to sell these to someone who needs to make an online purchase in US$. They will also lose out on conversion fees.

What is the best way to get these dollars into Rands
Click to expand...
I buy PayPal daily, if you're keen, PM me we can work something out.

EDIT: Not anymore from people new members .
 
Last edited:
A

Arthur

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Aug 7, 2003
Messages
26,879
MirageF1 said:
As someone mentioned , use it to purchase an item from an online retailer, like Amazon,Ebay, etc

You can also gift it to someone who has use for it in $...no fees.

I've had a Paypal account since 2002.
Click to expand...
Amazon doesn't accept PayPal. Best way to get PayPal into Amazon is to buy Amazon vouchers on eBay.
 
Mrcricket

Mrcricket

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Swa said:
Paypal doesn't charge a fee to transfer between SA citizens. But still nobody is going to take it when they can just use a credit or debit card. So either bite the bullet and pay the 4-5% total in fees or get a Payoneer account and deal with forex controls or spend it.

If it's a regular occurrence where you get thousands per year it may be worthwhile getting a Payoneer debit card account and then just spend it naturally from there.
Click to expand...

Is the Payoneer card worth it or is it better to just withdraw the money from Payoneer to your account?

Payoneer charges 2% per transaction if I remember correctly. If you are using the debit card, would that not add up to a lot eventually?
 
Swa

Swa

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newjourno said:
Is the Payoneer card worth it or is it better to just withdraw the money from Payoneer to your account?

Payoneer charges 2% per transaction if I remember correctly. If you are using the debit card, would that not add up to a lot eventually?
Click to expand...
A card is like $30/year working out to 1% for $3000. You're not going to get much better than 3% unless you go through forex. Even Paypal charges like 2% paying with a local card. It beats it hands down if you're above the tax threshold and you can spend the money instead of transferring it.
 
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