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Thread: Advice required for PayPal

  1. #1
    Bronze Member Alice Rain's Avatar
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    Advice required for PayPal

    Hi Everyone

    As I hate dealing with banks can anyone please give me advice regarding PayPal. I set up an account with FNB some time ago and wasn't told about any monthly fee [as I thought PayPal was free] and ended up getting into the red because no funds were coming in and I was being charged R60 a month.

    Last week someone told me they set up an account on line via FNB for PayPal and were not paying any charges?

    I need to set this up again as I will be doing work and getting paid from the States. Is FNB the only bank that offers this service? I emailed Standard Bank who I bank with and they do not offer this service.

    Look forward to any helpful advice.

    Thanks and regards

    Alice Rain

  2. #2
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    Hi Alice

    You can open a PayPal account online by going directly to Paypal website. You will be required to register your bank card. The card will be debited with an amount which will be credited back into your account after you verify your card. Verifying procedure will be given to you. There are no monthly fees, only transaction fees. I've had a Paypal account for about 4 years now.

    I recently read somewhere that we can now withdraw funds from other banks as well. Please verify this as I cannot locate the article.

    To Your Continued Success. All The Best.

    Mpho Mokobi

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    Full Member polpak's Avatar
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    Organised to debit purchase from my bank accounts or Mastercard/Visa card.

    Several years no problems.

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    Bronze Member Alice Rain's Avatar
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    Thank you very much Mpho and polpak for the advice, will do so.

    Have a great day!

    Regards

    Alice

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    Site Caretaker Dave A's Avatar
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    I think most of the respondents so far have missed the challenge here -

    Quote Originally Posted by Alice Rain View Post
    I need to set this up again as I will be doing work and getting paid from the States. Is FNB the only bank that offers this service?
    If you're just buying stuff via Paypal, it's as everyone says - just register direct with Paypal and load your credit card (or cards) against the account.

    However, if you are going to be receiving payments from other folk into your Paypal account, things change rather substantially - you need to upgrade your Paypal account to a merchant account.

    In many parts of the world this is as simple as a click and confirming a few things. However, if you are a South African citizen resident in South Africa, I regret to advise the only way to do it (at least officially - there may be ways to circumvent this but I don't personally know of any) is to link your Paypal account to an FNB account.

    It's something to do with our Foreign Exchange regulations...
    The trouble with opportunity is it normally comes dressed up as work.

  6. #6
    Bronze Member Alice Rain's Avatar
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    Hi Dave

    Thanks for the information. Oh crap! So I'll have to go the FNB route. Will let you know the outcome!

    Regards

    Alice

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    Silver Member Greig Whitton's Avatar
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    Quote Originally Posted by Alice Rain View Post
    I need to set this up again as I will be doing work and getting paid from the States.
    Depending on the work you are doing and who you are doing it for, Payoneer may be a much better option than PayPal.

    Founder of Evergrow - Helping South African business owners grow their business without the growing pains

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    Gold Member Houses4Rent's Avatar
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    I have no idea what Paypal is and what its for.

    If I ever need to buy anything outside RSA?online I use my credit card. If I need to receive funds into RSA I ask the payer to do a SWIFT transfer.

    Paypal sounds rather complicated. What am I misssing?
    Houses4Rent
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    Full Member polpak's Avatar
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    While viability depends on transactions values and frequency, setting up new corporate entities in other countries occurs, some well known corporate entities in Ireland.

    Such may reduces international-transfers, related costs, with some taxation implications when money is periodically transferred back.

    BTW countries watch these closely, particularly for tax avoidance.

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    Bronze Member msmoorad's Avatar
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    i got a new Capitec Debit card that allows online purchasing
    i completed the Securecode setup part

    now, when i try to set up my Paypal account, it says that my bank declined the request
    contacted Paypal, they say its not their fault-have to contact Capitec & ask them to sort it out.

    anyways, what i want to know is this:
    im going to sell something to a person in the US

    he will pay me via PayPal in US$
    can i use those US$ now & buy something from Amazon.com?


    thats the part i need explained

    just say i got paid US$250
    and i want to buy a Kindle Fire HD for US$120

    how much will i be charged in bank charges & other transaction fees?
    A “conspiracy theory” no longer means an event explained by a conspiracy. Instead, it now means any explanation, or even a fact, that is out of step with the government’s explanation and that of its media pimps.

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