Converting PayPal USD to ZAR

[irrelevantShame34]

Hi All,

My sincere apologies if this has been asked and answered already but I wanted to find out why folks here sell their USD on PayPal for ZAR? On the PayPal app, there is an option to withdraw the funds into your linked bank card. I have some USD I want to change to ZAR but haven’t tried yet in case I’m missing something here. Please advise me. Thanks.

 

[iamphantom]

You can do it through FNB, will take you about 5 mins to set up - it's in the FAQ on the website.

 

[irrelevantShame34]

You can do it through FNB, will take you about 5 mins to set up - it's in the FAQ on the website.

Thanks, yes I’ve seen that there is an option through FNB. I should have mentioned that I have a STD Bank card linked on PayPal. My question is why don’t people use this option (pay into linked card) and choose to sell it here. Is there some disadvantage of the former option?

 

[iamphantom]

Theres a bit of an expense to do it -

• The FNB Withdraw Service with PayPal allows you to withdraw funds paid into your PayPal account to your FNB or any linked South African bank account.

 

[iamphantom]

Paypal

A safer + easier way to pay and get paid. PayPal keeps your information protected by using powerful encryption methods.

www.fnb.co.za

You can create an online account and link your STD

I can't remember what the fee rate is, but it does cost you.

 

[irrelevantShame34]

I decided to click on the option to "withdraw into card" on the PP app. Doesn't work as it requires a US bank account. So doing it through FNB or selling here is the only options. I've created a profile and linked my STD however my PayPal isn't verified for some reason so it won't allow me to link it to FNB.

 

[iamphantom]

On the right hand side on pay pal there is a verify/ activate card option, it charges 1/2 $ to your account and gives an opt as a reference for you to enter on pay pal to verify it.

 

[BearZA]

I asked the same question a while back, someone said something about being able to get better rates or something along those lines....

 

[g0nt4du]

Or you just sell it on carb...