PayPal opened its online payment services to customers in South Africa. The PayPal service will be offered in partnership with FNB and has received approval from the Exchange Control Department of the South African Reserve Bank. South African’s where waiting to use PayPal payment gateway for many years and this has now opened a new business opportunity; to take your physical business online.
It will be a bit of a change in strategy for people to grasp and use the online business strategy and to start selling their products and services online.We are here to help you; in making the “online” jump in assessing your current physical business and determining how big the online market is for your particular business or service niche. Because of PayPal and online access to an international market you could expand your business with an added 30 % – 40 % increase in sales and revenue ask us to do a free analysis of your business here
.What is PayPal?
PayPal is the safer, easier way to pay and get paid online without exposing your credit card or bank account number.
More than 200 million people use PayPal to send and receive money.What can I do with PayPal ?
You can use your PayPal account to make or receive payments for goods and services.
Shop online at merchants in 67 countries and regions.
Pay for things and send money without sharing your financial information.
Checkout quickly at hundreds of your favorite online stores (not just eBay!).
Receive payments from buyers in 190 countries and regions.How do I get a PayPal in South Africa account?How to register for the FNB Withdraw Service with PayPal?
Visit the FNB Withdraw Service with PayPal website www.fnbwithdraw.com
Click on 'login' and enter PayPal account login information (email address and password)
Once you have submitted your PayPal login details, a pop-up screen will appear requesting your permission/ consent for FNB to access your PayPal Profile Information.
Once you have successfully logged in, you are now ready to register for the Withdraw Service with PayPal.
When registering, the following details will be required:
ID number /Passport number
Active FNB account number
If registering a business, a business registration number is required
Select 'Personal' or 'Business'
Enter your FNB Bank account and ID number, and then select the 'Submit' button.
Review the information displayed and complete other details required on the registration form.
Once completed, click 'Confirm' button to proceed and a One Time Pin (OTP) will be sent to the mobile number and/or email address as per the FNB Bank contact details for the nominated account.
You have successfully registered.How will I know if I have a qualifying FNB account?
Qualifying FNB accounts include most FNB savings, cheque and transmission accounts. When completing a FNB Top Up or Withdraw with PayPal transaction, a list of all your qualifying FNB accounts that can be used for this service will be displayed. Remember that they will have to be linked to your FNB Online Banking profile in order for them to be displayed. A credit card account is not a qualifying account for this service.
Note: FNB Top Up and Withdraw with PayPal is only available to personal and business users with qualifying FNB accounts and access to FNB Online Banking. The service is not available to Online Banking EnterpriseTM users. All FNB Top Up and Withdraw with PayPal transactions are subject to Terms and Conditions.
What will it cost?
FNB charges a transaction commission of 1.5% for each Top Up or Withdraw transaction.
The commission is calculated on the rand equivalent of the US dollar amount requested.
An exchange rate is quoted by FNB on all rand/US dollar transactions and may vary for Top Up and Withdraw transactions.
Certain PayPal transactions attract fees. Visit www.paypal.com/za for more information.
Note: All FNB Top Up and Withdraw with PayPal transactions are subject to Terms and Conditions.
Do I qualify?
All you need is a South African PayPal account, a qualifying FNB bank account and access to FNB Online Banking.
What do I need to do?
1. To open a FNB account visit our online FNB Product Shop, or visit an FNB branch nearest to you.
2. Once you have a FNB account, you need to register for Online Banking.
3. To open a South African PayPal account, visit www.paypal.com and follow the instructions.
You’ll be asked to fill in your details, and link your credit or cheque card to the PayPal account.
A small charge will be debited from your account, which will be refunded once you supply the four digit reference number of this transaction to PayPal. This PayPal verification is a security precaution that ensures that only you can access your PayPal account account.
4. Certain PayPal transactions attract fees. Visit www.paypal.co.za for more information.How do I transfer money into my PayPal account?
FNB provides a ‘Top Up’ service that allows you to transfer funds (top up) from your qualifying FNB bank account into your PayPal account. Simply login to FNB Online Banking and select the ‘PayPal Services’ menu option.
Once you have registered for the service, you can transfer funds (rand) from your qualifying FNB account into your PayPal account in US dollars, which can then be used to make purchases from PayPal merchants worldwide.
When completing the FNB ‘Top Up’ service you will be required to disclose the purpose of your transaction and provide contact information to ensure that you comply with all South African Reserve Bank regulations as this is a cross border payment. A Top Up of funds from FNB to a PayPal account may only be used for the specified reason.
NB: A new Top Up is required if these funds are to be spent using PayPal.
Note: FNB Top Up and Withdraw with PayPal is only available to personal and business users with qualifying FNB accounts and access to FNB Online Banking. The service is not available to Online Banking EnterpriseTM users. All FNB Top Up and Withdraw with PayPal transactions are subject to Terms and Conditions.How to withdraw funds from PayPal?
To withdraw funds from PayPal, follow these quick and easy steps:
Visit the FNB PayPal Services website www.fnbwithdraw.com
Click on the "Log in" button
Enter PayPal login details
Click on the "Withdraw" button
Capture the Withdraw details i.e. amount and reason for transaction, and click the "Get Quote" button
Accept the quote
A transaction confirmation screen, with a transaction reference number will be displayed.
Contact FNB’s PayPal call centre on 087 572 9725