Can Capitec receive money from overseas?
Yes, Capitec can receive international money transfers into a Capitec bank account. You can use services like PayPal, Wise (formerly TransferWise), Western Union, MoneyGram, and others to send funds from an international account into a Capitec account. The recipient will get the money deposited into their Capitec account in South African Rand.
Paypal and Capitec
If, however, you have a PayPal account and want to withdraw funds to your Capitec bank account, it can be done relatively easily. Capitec does not offer direct PayPal integration, but you can link your PayPal account to a First National Bank (FNB) online banking profile and then withdraw to your Capitec account. Here’s how it works:
Steps to Register for an FNB Online Banking Profile:
- Go to www.fnb.co.za and click on “Register” at the top of the page.
- Select “Register for PayPal for non-FNB customers” and choose either “For My Business” or “For Me” depending on whether it’s a business or personal account.
- Enter your personal/business details including tax info and source of funds.
- Create login credentials and enter your cell number for OTPs.
- Agree to terms and submit your registration.
- Confirm your details are correct. FNB will verify your info for FICA requirements if needed.
Linking PayPal to Capitec Account:
- Log into your FNB online banking and go to “My Bank Accounts” then “PayPal Services.”
- Choose “Link PayPal profile” and enter your PayPal email, ID number, and balance of payment details.
- Input your Capitec account details and confirm your address.You’ll get an OTP to enter and submit.
- Log into your PayPal account to confirm you are the account holder.
- Once linked, you can transfer funds after FNB verifies your Capitec account (takes 2-24 hours).
Transferring from PayPal to Capitec:
- Log into FNB online banking, go to “My Bank Accounts” and choose “PayPal Services.”
- Select “Withdraw from PayPal” and enter the amount in USD and your Capitec account details.
- Review exchange rate, fees, and ZAR amount. Accept the terms.
- Log into your PayPal account to approve the withdrawal.
- Funds will transfer to your Capitec account within 3-6 business days.
With an FNB online banking profile, you can easily link your PayPal account and withdraw funds into your Capitec bank account. Just be sure to follow the steps for registering, linking, and withdrawing correctly. Here are some other questions you might have.
Can I transfer money from PayPal to Capitec Bank?
Yes, you can transfer money from PayPal to a Capitec Bank account in South Africa. As mentioned in the blog post, you'll need to link your PayPal account to an FNB online banking profile first. Then you can withdraw funds from PayPal into your Capitec account.
Can I transfer money from my PayPal account to my South African bank account?
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.
