Buying and selling online from South Africa has become sort of a risk in this day and age, specially if you want to buy from places like e-bay. This will hopefully not be the case for long anymore as PayPal is currently in talks with FNB and the South African Reserve Bank.
What is PayPal you ask? PayPal is the safer, easier way to pay and get paid online. The service allows anyone to pay in any way they prefer, including through credit cards, bank accounts, buyer credit or account balances, without sharing financial information. Gone are the days of entering your credit card details to buy something online, you will just buy with your PayPal account and PayPal will ensure that the transaction goes smooth.
About two weeks back news has gone viral on social networking site Twitter where it was divulged that FNB is currently in talks with PayPal to allow transactions from South Africa. Later on head of corporate communications at FNB released an official statement that First National Bank is indeed in discussions with PayPal and the South African Reserve Bank.
Upon entering the FNB website users are now also greeted with a pop-up window with the statement that it is confirmed that FNB is in talks with PayPal and that further information will be released in due course.
This is a really exciting announcement by PayPal and FNB as the introduction of PayPal in South Africa will open up so many new potential opportunities and bring a huge influx of cash into South Africa through online purchases.
What do you think? Will you be using PayPal when it is confirmed that it will be available in South Africa?
Well, let’s just first see what spin the reserve bank puts on this …
I agree, this is not a done deal yet.
It’s here, it’s here 25th March and FNB have announced this has been accepted by the Reserve Bank. Now all we have to do is open an FNB account by the looks of it.
Thats correct Joan, in order to receive funds via PayPal you will need to open up a FNB account, also note that you may not use PayPal as a wallet, you must transfer your received funds within 30 days back to your FNB account otherwise it will go to waste. New article on the launch http://www.igeek.co.za/2010/03/25/fnb-launches-paypal-in-south-africa/
why is it that i need to have a credit card to verified and activate my paypal account . i do have a FNB savings account and i opened and was accepted as an paypal account holder
Hi Brian, I believe you can contact FNB and just ask them to activate it without a credit card.
How did you do that Bryan? I have been trying my damndest to open a paypal account. I have succesfully opened one, but can’t link my debit card so can’t move any money. Did you have any of these problems?
Hi Guys,
I opened a new account with FNB – savings – Debit Card with online link in the FNB branch as recommended.
When I tried to get verified on the new card – PayPal site requested a credit card.
Phoned FNB online help eventually got verified using my previously verified account with PayPal – which is a Nedbank Debit/Cheque account.
Both cards are VISA so what’s up?
Please help me out i want to connect to paypal and i don`t qualify for credit card. i have a debit card in fnb.
Hi Dumisani,
This is a major problem, You have to have a credit card – PayPal/FNB Debit Card will not enable you to do transactions.
I have not got a FNB credit card, they really gave me the run around, I have used my Nedbank Credit to secure my PayPal account.
Only suggestion is when your business is up and running register the business and then apply to the bank for a credit card.
Sorry, PayPal will not accept an FNB Debit Card.
Hi, I’ve got an account with Nedbank. I was given a debit card with it and when I tried to register it with PayPal, it wouldn’t accept. I then made the account without registering my Debit card and thought that I could do it later. Now it says that I can only put funds in from an American Bank account. Does this mean that only Americans can have PayPal?
hi, i leave in namibia and when ever i want 2 activate my fnb debit card to paypal it rejects my card,whyyyyyy can any1 plzzzzzzz help me out.
This is a major problem, You have to have a credit card – PayPal/FNB/Nedbank Debit Card will not enable you to do transactions.
I have not got a FNB credit card, they really gave me the run around, I have used my Nedbank Credit to secure my PayPal account.
Only suggestion is when your business is up and running register the business and then apply to the bank for a credit card.
Sorry, PayPal will not accept an FNB Debit Card nor by the sounds of it any other debit card.
Well its been more than a year that i opened a paypal account and are still having problem verifying my fnb chque account to my paypal account
Is this a cheque/debit or cheque/credit? If it is a debit card read comments above.