Spending GB£ in South African ZAR

AnnieB13
Contributor
Contributor
My PayPal balance is in GB£, but I live and need to spend the money in South African Rand ZAR. How do I do this? If PayPal doesn't recognize ZAR, I need to transfer/convert it to a local bank/credit card that does. I have been unable to link my SA bank account to PayPal to transfer it.
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2 REPLIES 2

kernowlass
Esteemed Advisor
Esteemed Advisor

@AnnieB13 

 

Paypal does not recognise the ZAR, if you have funds in £ then would your bank convert them for you when you withdraw them?

If so then there is only 1 bank you can use for withdrawing funds in S.A.


How can I transfer funds from my PayPal account to my bank account in South Africa?

Transferring funds from your PayPal account directly to your eligible First National Bank of South Africa (ETF) bank account is easy and secure.

To transfer funds, you must first link your PayPal account to your bank account.

To link your PayPal account to your ETF account, follow these steps:

Log in to your FNB account at www.fnb.co.za.
Click on PayPal Services and then on Link PayPal Profile.
Follow the instructions to link your accounts. You will need to sign in to your PayPal account to confirm that you are the account holder.

After linking your PayPal account to your ETF account, follow these steps to transfer funds to your ETF bank account from your PayPal account:

Log in to your FNB account at www.fnb.co.za.
Click on PayPal Services and then on Withdraw from PayPal.
Enter the transfer amount in USD dollars. (Please check that your PayPal balance is sufficient to make the transfer.)
Follow the instructions to confirm the exchange rate, the Rand amount you will receive, and the Transaction Terms and Conditions.
You will be directed to PayPal to sign in and verify the amount you are transferring to your ETF account.
Then you will be redirected to the FNB site. Your funds will be transferred to your bank account within 3 to 6 business days.




Advice is voluntary.
Kudos / Solution appreciated.
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AnnieB13
Contributor
Contributor

Thanks for the response, but I do not have a FNB Bank Account. I have been able to link my South African credit card to my PayPal account. If I transfer the GBP value to this credit card, will it convert to ZAR in the transfer and then be available for me to use on my credit card in this country?

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