I am happy to inform you that South African PayPal accounts have the option to withdraw funds using your local South African bank account (e.g. Standard, ABSA, NedBank, Capitec, etc). The good thing about this is that you need not to open an FNB bank account. You only need to create an FNB profile online. I just want to let you know that linking your local Bank with your PayPal account is processed in the FNB website http://www.fnb.co.za not on your PayPal account.
Initially, it may take up to a week to complete the requirements but once you have set this up, you should be good to go for future withdrawals. This is to ensure the security of your account and that we are in compliance to SARB regulations. Don’t worry, I am here to guide you through the process.
- Create an FNB Online Profile- 2-3 business days
- Link your Bank account – instant
- Initiate Withdrawal from your PayPal Account – 5-8 business days
Below are the steps to create an FNB online banking profile and link it to your PayPal account.
- Go to www.gotpaid.co.za and click Step 2.
- Select ‘Individual’
- Complete the instructions to link your accounts. You’ll need to log into your PayPal account to confirm that you are the accountholder.