What I’ve Learned about Paypal

I've been using Paypal for awhile now, though it wasn't until recently that I've started using it to get paid for some editorial reviews that I've done. This is my experience so far from having used it; and being from South Africa where it takes a little bit more work getting Paypal set up, I thought I'd share my experience. But even though this is my experience and might be somewhat different from other countries that might have easier access, feel free to keep on reading if you would like to know how Paypal might work in a different country.

Now, to get funds from your Paypal account into your own bank account in South Africa, you have to have an online FNB account - this is the only bank that provides this service. All you have to do is create an online account at FNB, link your Paypal account as well as your own bank account to it; then be sure that you upload your proof of residence as well, so that you're FICA compliant - this is important when it comes to withdrawing your funds from your Paypal account into your own bank account. There are two points I want to make:

My experience with getting my bank account verified at FNB: It took awhile for my bank account to get verified by FNB; so the one day I made a query and ended up phoning them. They were very helpful and got this problem sorted within half an hour.

My Laptop

If your proof of residence doesn't have your own initials on it: You're going to need to go to your local municipality to get a letter stating that you live at the residence that you say you do - you will not get FICA approved if the FNB system picks up that your initials are different from what the proof of residence says.

Lastly, there will be some bank charges as well as a three to five working days waiting period before the money shows up in your bank account. Be sure to let me know in the comments down below or on social media what your Paypal experiences have been like - and if you've been able to sustain a living off of it, also if it's been a convenient method of getting paid.

Enjoy,

Carmen.

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