FAQ

How to get a PayPal Account In South Africa

How do I get a PayPal account in South Africa?

Have a qualifying FNB bank account (FNB cheque, savings or transmission account)
Have a FNB Online Banking profile (currently not all online banking profiles support this)
Register a South African PayPal account on www.paypal.com
Verify your PayPal account on www.paypal.com
Login to your FNB Online Banking profile; register for this service and link your PayPal account to your FNB Online Banking profile

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.

How do I withdraw money from a PayPal account?

FNB provides a ‘Withdraw’ service that allows you to transfer (withdraw) funds from your PayPal account into your qualifying FNB bank 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 (US dollars) from your PayPal account to your qualifying FNB account in rands. NB: Remember that according to South African Reserve Bank exchange control regulations, all funds received into your PayPal account must be withdrawn within 30 days of receipt. When completing the FNB ‘Withdraw’ 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.

How to sign up with PayPal

Create Your PayPal Account

Once you’ve chosen the right account for your needs, click on the appropriate  account button.
Fill in the requested information. Choose a password that others won’t easily guess!
Read the user agreement, then click to create your account.
You’ll receive a confirmation email from PayPal. Click on the link in the email.
Sign into your account with the password you just set up. Now you’re ready to go!

Step 1: Create a PayPal Account

Creating a PayPal account is very easy. You just need an email address to get started.
First, go to Paypal’s home page and choose “Sign Up Now!”www.paypal.com
Select the country where you live and choose a language preference.
Now you need to choose a type of PayPal account. PayPal offers three account types.   When choosing between them, consider what you’re going to use PayPal for.

Step 2: Set Up Your PayPal Account

You can receive money immediately once you’ve created an account. You need to give PayPal a source for funds before you can shop online or send money to anyone. You can also set up PayPal so you can use it with your mobile phone, and you can verify your account if you want to spend more money than the initial PayPal spending limit.

Is there alternative payment gateways to PayPal?

The following payment gateways accept South Africans 2Checkout is an excellent alternative tp PayPal, 2CO is an intelligent choice if you want to get rid of PayPal complications. It involves no credit card processing, no statement fee, no third party charges, no monthly fee, (unlike like PayPal account you need to pay FNB R75.00 per month) no additional card company etc. It takes few minutes to complete the account setup process as no credit check is involved in it. It charges a $49 USD setup fee only once off. Moreover you have to pay 5.5% commission plus $0.45 per transaction.You will also receive a Master Debit card for free and be able to draw your money at a local ATM in South Africa. Visit 2CO here Monster’Pay Monster Pay Payment Gateway for South Africans is the choice for small businesses, it does not require a merchant account,they don’t charge merchants a setup or monthly subscription cost, their transaction fees are slightly higher. Monster’Pay does not charge its clients any fees to open an account, to purchase is easy via the web or mobile or send money to more than 210 countries. The Payment Gateway service accept Rand and US Dollar credit cards.Instant EFT via SID and direct deposits are also provided for Rand. This Payment Gateway is unique no other payment gateway can provide Instant EFT facilities. Sending payments and adding funds are both free, to receive payments funded by Credit Card or Debit Card costs 4.9% of the transaction, plus $0.35USD for US Dollars, and 4.9% of the transaction, plus R2,50 for South African Rands. Receiving payments funded by POLI or Instant Bank Transfer costs 2.9% of the transaction, plus R2,50 for South African Rands. It costs 2.9% of the transaction to receive payments funded by MonsterPay Balance, eCheque or eDeposit. To withdraw funds, it’ll cost $2,50USD for US Dollars; E2.00 for Euros; £1,50 for Pound Sterling and R8,00 for South African Rands. This Payment Gateway provides a variety of payment gateway tools and integration tools for clients’ websites. Integration tools offered include: Auto-Redirect; Auto-Post and Synchronisation facilities.

What types of PayPal accounts can I get?

Personal, Premier and Business – choose which one is best for your needs. Fees is not deducted in the personal account whereas fees is deducted in the premier/business account . Apart from the fees , the personal and premier accounts also have a difference in the available merchant tools . Premier accounts can setup subscription links whereas personal account cannot Premier/business accounts have the following features that normal accounts do (in terms of features):

  •     -more available eBay tools
  •     -more available merchant services
  •     -allows for you to implement subscriptions and recurring payments on your site
  •     -you get to set up a paypal debit/credit card [to access funds in your paypal account]
  •     -mass payment to numerous people
  •     -multiple logins for different people
  •     -full time staff support

Personal paypal account can only receive 6 credit card payments in an year and the fees to accept those is higher. Premier account can accept credit card payments and fees is lower in this case. Review the types of PayPal accounts: Personal, Premier, and Business Remember, it costs nothing to send money via PayPal, but some accounts charge fees to receive money. The exact fees vary with the type of account. Personal accounts:

Pros: No transaction fees on payments received via PayPal Balance, PayPal Instant Transfer, or PayPal eCheck.
Cons: Can only receive a limited number of credit card payments; limited customer support (no toll-free number and long wait times); $500 per month limit on receiving money.

Ideal User: Online shoppers who do not spend large sums of money.

Premier accounts:

Pros: Toll-free customer service number; can accept unlimited credit card payments; eligible to apply for PayPal ATM/Debit Card, which allows direct access to your PayPal account instead of waiting for funds to transfer to your bank account.
Cons: Transaction fees to receive payments via PayPal.
Ideal User: Individual online sellers.

Business accounts:
Pros: Same as Premier; ability to have multiple users access same account; can operate under business name.
Cons: Same as Premier.
Ideal User: Business owners.

If you have an idea about the amount of money you’ll be handling on PayPal, use the PayPal Fee Calculator to see what fees you’ll pay for each type of account.http://www.ppcalc.com/
If you’re not sure what account to choose, start with a Personal account. It’s free to upgrade to a new account later if you feel you made the wrong choice.
Some PayPal users find it useful to have two PayPal accounts: a personal one for accepting payments, without paying fees, and a separate business account.
You will need a separate email address for each account.

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