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[Feeler] PayPal $

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LuckyCat

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Hey guys, I'm new here - hello! :adoration:

I do some transcription and writing work which I get paid for via PayPal, and this looks like a convenient way to convert dollars into rands. Usually I have to go through my mom's FNB account, which is cumbersome to say the least. I'm with Capitec and for whatever reason it doesn't seem like you can withdraw to them even if you have an FNB online profile - which I found out after a very, very tedious process - anyway!

I was wondering what buyers use the dollars for once they buy them? Is it an investment thing or to buy in goods from overseas? Also as I realize I'm new, what is the standard procedure for your first sale - would I be expected to send the dollars through before receiving payment until I get a better rep so to speak?

Thanks in advance and good to be here!
Cat
 
If I can give some advice - open up an FNB account pronto. Either dealing with PayPal dollars or receiving an overseas transfer will be much easier that way. PayPal normally takes 5-7 days to clear, whereas transfers can be a day. It's not very reliable to try to sell your dollars on Carb, although you might be able to hide them better that way. Capitec just doesn't have the systems in place to manage overseas income properly.
 
Thanks for the advice, jasong - appreciate it. I've been toying with the idea of just moving over to FNB for a while, but Capitec's interest rates and fees are more appealing. I like that I can use my debit card for online purchases with Capitec too. But yes, if I want to get reliable access to PayPal withdrawals then it seems inevitable that I'll have to make the move eventually. I think I'd still want to try a few sales here though to see what it's like - waiting 7 days for the money is a bit of a bummer.

Again, thank you for the advice! :adoration:
 
Just as a note you do not need to have an FNB account to withdraw from Paypal. This is what Paypal support sent me -

If you have a non-FNB bank account, you will need to create an Online Banking Profile on the FNB. Please note that you only need to have an online profile with FNB and not a bank account with them.



For your reference, I have outlined below the steps on how to open an online FNB banking profile.



1. Go to FNB’s website, www.fnb.co.za
2. Click "Register" on top of the page.
3. Select "Register for PayPal for Non-FNB Customer"
4. Select "For Me" or "For my Business" on the Register for PayPal page.
5. Click " I do not bank with FNB" on the dropdown menu.
6. Fill out all the needed information and click "Submit".
 
Hey guys, I'm new here - hello! :adoration:

I do some transcription and writing work which I get paid for via PayPal, and this looks like a convenient way to convert dollars into rands. Usually I have to go through my mom's FNB account, which is cumbersome to say the least. I'm with Capitec and for whatever reason it doesn't seem like you can withdraw to them even if you have an FNB online profile - which I found out after a very, very tedious process - anyway!

I was wondering what buyers use the dollars for once they buy them? Is it an investment thing or to buy in goods from overseas? Also as I realize I'm new, what is the standard procedure for your first sale - would I be expected to send the dollars through before receiving payment until I get a better rep so to speak?

Thanks in advance and good to be here!
Cat

I'd buy them from you :)

Drop me a PM
 
Thanks for posting, unfortunately I got as far as step 6 before I ran into an error. I eventually found out that all other banks do have this option, the service just doesn't extend to Capitec accounts yet. (I finally got an answer from Capitec on Facebook) If you're with Nedbank, Standard etc then it does work. Mind you, that was several months ago... so you never know - I might give it another shot! Thanks for taking the time to post the info though! :)

*Editing to add this was meant to be a reply to deadmanza - noob mistake, sorry!
 
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