PayPal is a secure global online payment system that allows users to receive and make payments for goods and services with other PayPal account holders.
There are no set up costs involved.
First National Bank (FNB) introduced the service to the South African market and makes it possible for users to receive payments through the service. You can use your PayPal account to make or receive payments for goods and services online. It offers users a simpler, faster and easier checkout process.
The service has more than 100 million active users in over 190 countries.
South African users can conveniently access the service through FNB. To do this, you first need to link your PayPal account to your FNB bank account.
FNB’s Withdraw Service with PayPal allows South Africans to withdraw funds from a PayPal account to any South African bank account.
How to withdraw money from PayPal using FNB
- Log in to the FNB Website
- Click “PayPal Services” then click “Withdraw from PayPal”
- Enter the withdrawal
- Follow instructions to confirm the exchange rate, the Rand amount you will reserve and the terms and conditions.
You’ll be redirected to a PayPal website to review the amount you are transferring /withdrawing.
Return to the FNB site. Your money will be transferred to your FNB bank account in 3 to 6 business days.
FNB PayPal also has a “Top Up” service that allows you to transfer funds from your qualifying FNB bank account into your PayPal account. You can transfer Rands from your FNB account into your PayPal account in US Dollars.
FNB charges 1.5% of the quoted ZAR amount per Top Up and Withdraw transaction.
FNB PayPal Contact Details are available on the FNB website www.fnb.co.za
Alternatively, simply call FNB and speak to a consultant about FNB PayPal on
087 572 9725
International: +27 11 371 3711