FNB released a FAQ list for Paypal SA users. I’m just highlighting a few that were important for me:
What is Paypal?
Paypal is a payment system used throughout the world. It is used to either pay for items or services or receive payment for items and services. It makes a transaction saver because it puts a system between you and your credit card.
You use your credit card, or any other bank account, to Topup your Paypal account. Using this credit you can then purchase items over the Internet without anyone ever knowing your credit card details. You can then also use Paypal’s Resolution Centre to dispute any items or receive refunds if you do not receive the items as advertised.
By using it as a Merchant, you can accept payment into your Paypal account from your clients, and then Withdraw the funds at a later stage.
FNB has a Topup and Withdraw service that is available within their Online Banking
This allowed you to either Topup your Paypal SA account from one of your FNB accounts, or Withdraw money from your Paypal SA account to one of your FNB accounts.
NOTE that it is ONLY available through FNB Online Banking.
How to you link FNB accounts to Paypal?
First off, you need a cheque, savings or transmissions account with FNB.
You also need to be registered with FNB’s Online Banking service.
Before you can link your accounts to your Paypal account, you obviously need a Paypal SA account.
Once you log into your Online Banking, you’ll see there is a link on your left hand side for Paypal under Accounts. Click this and just simply follow the prompts.
Business and/or Personal
You can use Paypal SA for either your business and/or personal use.
FNB Bank Charges
Besides your normal monthly charges on your account, FNB will also take 1.5% of the value you Topup or Withdraw. According to their website, this is calculated on the Rand equivalent of the transaction.
FNB has a Terms and Condition Document that all Paypal SA transactions must adhere to.
Complete FNB FAQ List
The complete FNB Paypal SA FAQ List
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