PayPal is one of the most popular online payment services in the world, with over 200 million active user accounts globally. But how exactly does PayPal work for users in South Africa? Here's a quick overview:
Is PayPal Available in South Africa?
Yes, PayPal is available for use in South Africa via FNB. You can sign up for a PayPal account, link your bank account, and use it to send and receive payments online.
What are the fees for using PayPal?
The PayPal fees in South Africa are very high can add up to between 5% and 8% per transaction. This includes a fixed PayPal transaction fee, a currency conversion fee, an exchange rate fee charged by FNB, and an FNB withdrawal fee. The total fees make PayPal an expensive option for payments and withdrawals in South Africa compared to some local payment solutions. However, PayPal still provides the ability to easily receive payments from international clients in foreign currencies.
How Do South Africans Use PayPal?
South Africans use PayPal to:
- Receive payments from international clients and freelance work clients. PayPal allows you to get paid in foreign currencies like USD and EUR.Pay for items on international websites and auction sites like eBay that accept PayPal.
- Send and receive money domestically. You can send funds to anyone else with a PayPal account.
How Do I Get Money From PayPal in South Africa?
To get money out of your PayPal account in South Africa, you need to:
Link your South African bank account to your PayPal account. This is done through FNB's PayPal Withdrawal Service.Initiate a withdrawal from your PayPal account balance to your connected South African bank account.The money will be deposited into your bank account within 3-5 working days.
Can I Use PayPal to Send Money to South Africa?
Yes, PayPal allows you to send money to recipients in South Africa. The recipient needs to have a PayPal account connected to their South African bank account.
You can send money using your PayPal balance, bank account, or debit/credit card. The recipient will receive the money in their PayPal account and can then withdraw it to their bank.
Is PayPal Reliable in South Africa?
PayPal is generally considered safe and reliable to use in South Africa. It uses modern security measures to protect your financial information and transactions.
PayPal also offers buyer and seller protection policies in case issues arise. But be aware that PayPal's customer service is based overseas, which can make resolving problems more difficult from South Africa.
If you've got dollars in PayPal, check out our article on the best way to send money from USA to South Africa.
So in summary - PayPal is a viable online payment option for South Africans to use for international transactions and payments. Just be aware of the fees involved and make sure to properly link your bank account. For more information on receiving payments, check out ourPayPal in South Africa guide.
FAQs
The recipient needs to have a PayPal account connected to their South African bank account. You can send money using your PayPal balance, bank account, or debit/credit card. The recipient will receive the money in their PayPal account and can then withdraw it to their bank.
Which bank works with PayPal in South Africa? ›
Yes, any South African bank account that you can link to an FNB online banking profile can receive transfers from PayPal. This includes major banks like Capitec, FNB, Nedbank, Standard Bank, and more. If you've got dollars in PayPal, check out our article on the best way to send money from USA to South Africa.
How do I receive money from PayPal in South Africa? ›
You will need an FNB Online Banking profile. If you don't bank with FNB you can create a free FNB Online Banking profile and link your PayPal account to your South African bank account. A withdraw from a PayPal account takes 3 to 5 business days to reflect in your linked South African bank account.
Do I need to link a bank account to PayPal to receive money? ›
Do You Need a Bank Account for PayPal? No, you don't need a bank account to sign up for PayPal or to receive payments. You can, however, connect your PayPal account to a bank account, a debit card or a credit card account for sending and receiving payments and transferring funds.
Can I send money to South Africa with PayPal? ›
You can send money abroad to another PayPal account just like you would domestically: Enter your recipient's name, PayPal handle, email, or mobile phone. Enter the amount, choose the currency, and add a note if you'd like.
Is PayPal acceptable in South Africa? ›
Is PayPal Available in South Africa? Yes, PayPal is available for use in South Africa via FNB. You can sign up for a PayPal account, link your bank account, and use it to send and receive payments online.
Which South African sites that accept PayPal? ›
Top Stores using PayPal
- iStore South Africa. www.istore.co.za. 2019/03/22.
- EDGARS. www.edgars.co.za. 2019/08/16.
- PLANTIFY. plantify.co.za. 2016/11/18.
- Levi's® South Africa Online. www.levi.co.za.
- Hirsch's. www.hirschs.co.za.
You can connect a bank account or debit card and withdraw money directly to your bank account, or use your PayPal debit card to take out money at an ATM. Standard PayPal withdrawals are free and take 1 to 3 days to process, while instant transfers take just a few minutes and cost a small fee.
Does PayPal automatically take money from your bank account? ›
You don't need to have money in your PayPal account to use PayPal. If you link a bank account to your PayPal account, we'll take the money directly from your bank account when you make a purchase or send money.
When someone pays you through PayPal, how do you get the money? ›
How do I receive money to my account with PayPal? To accept the money, you must open a PayPal Balance account and confirm your email address. After that, you can receive money when someone pays to your email address or mobile number. You'll receive a message through the app letting you know you have money available.
- Search online for a Western Union agent location that's convenient for you.
- Take a government-issued ID or your phone number to the counter, plus your receiver's name and address.
- Pay for a cash pickup in South Africa with cash, your bank account or a US bank-issued debit or credit3 card.
If you are making a Personal Payment from your PayPal balance or Bank account then it is free to send this payment, the recipient however will pay a cross border fee to receive this payment from outside of South Africa. This completely depends on their account and can range from 3.9% + $0.30 USD.
Which African countries accept PayPal? ›
Africa
- Algeria.
- Angola.
- Benin.
- Botswana.
- Burkina Faso.
- Burundi.
- Cameroon.
- Cape Verde.
Program Banks
- Goldman Sachs Bank USA.
- Wells Fargo Bank, N.A.
Log in to PayPal using the criteria you provided to set up the account. Read the information and select 'Agree and Connect' to link your PayPal account to your FNB app. Select the 'FNB app' option to complete the process. You are now ready to transact on your PayPal account using the FNB app.
Which FNB accounts qualify for PayPal? ›
Both personal and business FNB accounts can be used to link PayPal. You'll need to register either a personal or business profile on FNB online banking. Premier, Private Clients, and enterprise accounts also qualify.
Does Capitec Bank work with PayPal? ›
Log in to your PayPal account. Click on the "Wallet" button on the top of the page. Click on the "Link a bank" button. Enter your Capitec bank account information, including the account number, bank code (470010), and your full name as it appears on the account.
