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How to withdraw money in South Africa-Full guide

How to withdraw money in South Africa 2020-2021-PayPal SA

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PayPal is one of the leading digital payments platform recognised all over the world and also operational in South Africa. Whether you are into freelancing or you have a business, and you transact with companies in other parts of the world, getting your payment has been made accessible through their payment system. With an email address, it is easy to accept payments from anybody or organisation depending on the job you did for them, services that you provided or goods that you have sold.

PayPal South Africa FNB

As PayPal SA creates the platform for users to gain global customers who want a secure and convenient way of making payments, they also ensure that customers, upon receiving payments, can withdraw such with their local payment methods in South African currency. With PayPal FNB account, you have the limitless privilege of enjoying all the opportunities that are available on this payment platform.

Other benefits that having a PayPal South Africa account comes with include the fact that you can send money in the twinkling of an eye at any time and to anywhere; both buyer and seller protections are available, so you have nothing to worry about. Then, in case you place an order but you are not happy with it, and you need to send back, the cost of shipping the order back is refunded as long as you have the benefit activated.

The way PayPal in South Africa works is that once you open a free PayPal account South Africa, you can receive payments and make the withdrawals to your First National Bank (FNB) financial record once you have linked the two financial records together. However, you should bear in mind that you will need to register for and get your FNB Online Banking profile. Which FNB accounts qualify for PayPal? If you have an FNB cheque account, then you are eligible for the service.

Receiving money from overseas in South Africa

Receiving payment, whether from friends and family or clients and business partners, in South Africa, follows some processes. Although, setting up the process may look cumbersome somehow, but once you have done it, withdrawing to your local bank financial record becomes very easy. Therefore, to start receiving payments, the following are the processes that you need to follow:

1. Have a PayPal account

A PayPal account is needful because that is where whatever fund that you are receiving would be deposited into before you can then transfer it to your local bank. How do I get a PayPal account in South Africa? Here is a simplified process that you can follow on how to open one:

How to open a PayPal account in South Africa

  • Log in to the official website of PayPal.
  • Once you are there, the next thing is to click on the ‘Sign Up’ button which you will find at the top of your computer screen.
  • After that, you will need to select the kind of account that you want to create. Depending on your need, you could either opt for a personal account or you register for a business account if you are registering for your business transactions.
  • Fill in your details as accurate as possible. Also, make sure that whatever secret password that you choose is such that you can easily remember but difficult for anyone to guess.
  • Then, you would be required to accept the terms and agreement for using their services. After you have read through and understood, you go on and do the needful.
  • Voila! You have just successfully registered for yourself.

2. Verify your PayPal account

Once you have opened your account, the next thing that you need to do is to verify it by linking your local bank account to it, and to do that, for instance, if you have an FNB account, you will provide your bank details including the FNB routing number. When you are asked for this, the FNB routing number South Africa is 081205112. With all those available, follow these steps:

  • Log in to your PayPal dashboard;
  • Click on the ‘Add/Edit Credit Card’ button;
  • Once the form opens up, fill in the required information including your name, details on the card as well as billing address.
  • After you have done all those, you would be charged a minimal amount to verify the process which the company will reimburse later.
  • The next thing to do after adding the card is to go to ‘Add/Edit Credit Card’ and then, click on the ‘Confirm my card’ button.
  • You need to request for your 4 Digit Code which you would need to further the verification process. For that, you would still be debited another little amount of money which would be reimbursed within 4-5 working days.
  • Once you have gotten the code, following the same process above, add the code and pay attention to the instructions that you would be given.

If for any reason you need to get across to the Customer service, there are some options that you can choose from as far as PayPal South Africa contact is concerned. You can chat with any of their representatives, email or talk to them on the phone. Once you are logged in using your registration details, you would be able to choose from any of the options.

3. Register for online banking with FNB

Whether you have an account with FNB or not, it is interesting to know that the bank has made it possible for anyone to link their local bank details with their PayPal record using their platform. How do I register for online banking with FNB? Once you already have your PayPal South Africa login details, you can follow the instructions below to link to FNB:

a. Visit the official website of FNB

Once you are on the site, click on the “Register” button at the top of your computer screen and you would be redirected to another page.

b. Register for online banking

Here, you would be required to choose from three options but in your case, choose the “register for PayPal for non FNB customers”.

c. Choose an option that applies to you

Once you have clicked on the PayPal for non FNB customers button, you would be required to choose the option which would either be “For Me” or “For My Business”.

d. Choose “I do not bank with FNB”

You need to understand that you are choosing this option if you do not have awith FNB, but should you have one with them, all you have to do is register for FNB Online Banking. To do this, what you need are your valid card and ATM PIN, but in case you do not have one, visit the FNB branch nearest to you, and you would be assisted to get one fast.

e. Fill in the necessary information and create your user ID and password

If you choose “I do not bank with FNB” option, a form will open up on your computer screen which you would be required to fill in your information. After filling everything, agree to the terms and conditions, but before you submit and confirm the information that you have inputted, create your user ID and password. Make sure that you keep those safely as that is what you would need to log in to your FNB account.

4. Link your PayPal account to FNB

How to link PayPal to FNB? Once you have created your PayPal account and also verified it, the next thing that you would need to do before you can start withdrawing money is to link your PayPal account with the FNB account. The steps to follow are detailed below:

  • Log in to your FNB account on their official website with the username and password that you registered with initially.
  • Once you are redirected to your dashboard, select ‘Forex’ option.
  • Also, click on the ‘PayPal services’.
  • From the list that shows up, choose ‘Link your PayPal Profile’ option. Ensure that you input the information that has to do with the details of your FNB and PayPal accounts.

If you have an account with FNB, you will need to fill or confirm your details, and from there, an FNB online verification would be carried out. An authorisation to link your PayPal information would also be required, and as such, you will need to sign in with your details to effect that process. Then, note that occasionally, some customers have FNB online banking login problems and so, in case you encounter same, do not panic; you could contact the Customer service to rectify whatever issues of concern that you have.

5. Make withdrawals

Once you have linked your PayPal information to your FNB account, for you to transfer money from your PayPal to your FNB account and withdraw, here are the steps to take:

  • Visit the official website of FNB and log in to access your account.
  • Select “Forex” option and “PayPal Services”.
  • Also, click on the “Withdraw from PayPal” button. Afterwards, you can enter the total amount that you want to withdraw in US Dollars based on the amount of money that you have in your record.
  • Pay attention to the following instructions to confirm the rate of exchange, the amount you will receive in Rand as well as the terms and conditions of the transaction.
  • From there, you would be taken to the PayPal website where you will have to log in and review the amount that you want to transfer to your local bank.
  • Once this stage is completed, you would be redirected to the FNB website, and then, your money will be transferred into the bank within 3 to 6 business days.

With FNB PayPal, entrepreneurs and large corporations who are based in South Africa can transact businesses with their partners or clients across the globe. Also, the fact that one does not necessarily have to get an account with FNB before one’s bank details can be linked to an already-opened PayPal account is one juicy benefit that makes the service worth the while. Now, the risks involved in foreign transactions, online frauds, and what have you are being handled with a payment platform like this.


Debit and Credit Bank Cards

Ideal for creatures of habit who aren’t keen on mastering a new and unfamiliar money system, using your credit or debit card from home is a popular and handy, albeit potentially costly, option when travelling in SA. Major credit card brands, namely MasterCard and Visa, are widely accepted here, and debit cards and cheque cards, which give you access to your bank account in your home country, can generally be used over the counter and at ATMs wherever there’s a MasterCard or Visa sign. If choosing this option, there’s no need to pre-arrange travel money; though, there are, of course, issues associated with transacting in SA in foreign currency with foreign plastic.


  • Using a bank card from home is very convenient, as you already have one on hand and do not need to deal with the hassle of pre-arranging and figuring out other more unfamiliar travel money alternatives.
  • You have access to all of your funds back in your home country as well as to emergency cash advances in the case of a credit card, so you shouldn’t be out of pocket.
  • Some banks do offer favourable overseas rates and charges for travellers using debit or cheque cards specifically (less so with credit cards).
  • Credit cards can be used to book accommodation, plane tickets, activities and more online while you’re already in SA.


  • Safety is a core concern. SA has had a major problem with debit, cheque and credit card fraud, and because these cards give holders direct access to all funds, if you fall victim to a scam or if they’re stolen, the loss could be major. What’s more, while there is generally a money-back guarantee to cover fraud, there are usually a number of conditions involved and there may be certain policies that limit how protected you are when travelling.
  • If your bank card is lost, stolen or swallowed by an ATM, it can be a huge and costly hassle to get a replacement card from your overseas bank. It can take up to three or four weeks for the new card to arrive, which means you could be stranded without money for some time.
  • Overseas card usage fees can be very high and are often not made very clear, so you might not be aware of them. Banks usually charge a percentage of the amount withdrawn on top of other fees, so at the end of the day, you could pay over R200 in charges for a single transaction.
  • Because your money is still in foreign currency, you will pay a fee to convert it from this form to rand every time you use your card.
  • Similarly, you will be vulnerable to a fluctuating exchange rate, and if this drops so that it’s not in your favour, you could lose a portion of your travel budget.
  • Some debit and credit cards, especially new ones with advanced security features, may not be compatible with local ATMs and card machines.
  • If you forget to notify your bank that you are travelling and they see foreign activity, they will most likely block your credit card.

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