Is PayPal coming to SA in FNB partnership? - BBLounge

**King Monty** · 8th February 10, 03:57 PM

Got a tweet on this and read Chris M's blog on the same:

Quote:


Well, who knows what’s going on here – I blogged about calling PayPal and finding out about what’s up with PayPal in South Africa and this has been one of the hottest trending topics on my website, receiving 606 comments already and growing daily. Anyway, tonight people started talking about it on Twitter, saying that PayPal in coming to South Africa in April 2010, this seems to come from First National Bank (FNB) insiders.

http://imod.co.za/2010/02/07/is-payp...-april-at-fnb/

Interesting stuff. I would be happy to see them here officially, but I don't see the SA Govt relaxing the exchange controls that currently render the service non-SA compatible.

halicon · 8th February 10, 11:49 PM

i have never understood that anyway. if i want something from online i use my credit card anyway?

so what's the difference if pay pal come. i am sure they could get here through a bank. fortunately for us money talks.

**King Monty** · 9th February 10, 07:56 AM

Quote:


Originally Posted by halicon i have never understood that anyway. if i want something from online i use my credit card anyway? so what's the difference if pay pal come. i am sure they could get here through a bank. fortunately for us money talks.

The problem is Paypal makes it very easy to move money [as in cash] offshore. SARS and SA exchange controls do not permit you to hold more than a certain amount of money offshore.

Also, with credit cards there is an imposed credit limit and a very long paper trail. Paypal can easily be used to transact and move money anonymously.

**Rustum** · 9th February 10, 08:07 AM

Also, Paypal is used to get paid by overseas clients. I'm struggling to get some dollars through and without Paypal it's expensive. Client wants to wire it, which means a $15 fee on their side, and $15 my side, excluding exchange fees.

What I don't get, though, is why in US they can't just deposit it in the bank. I've received money from UK, Denmark and Netherlands via normal bank deposits.

But yeah, I got some funds hanging in limbo. I could join Paypal and use the money to buy online, but I'd rather have the cash.

**Tamago** · 9th February 10, 08:37 AM

Paypal would help me a great deal. Why? Many of my fellow engineers in far flung places such as the United Kingdom, tend to sell some of their toys i.e. surplus electronic scrap and stuff, and for this reason PayPal is preferable to them. This means finally, without having to do a wire transfer which the banks rip me off with and costs me time off work, I can now trade with them.

Also, many guys who write some mighty fine shareware, also only accept Paypal, it would help me, a great deal!

**Prometheus** · 9th February 10, 04:16 PM

It would be great if we could use Paypal. Unfortunately I don't see it as happening even with the help of a bank. SARS and the SA Reserve Bank wants all money coming in to be declared so it means wire transfers and paperwork. Paypal makes it too easy to bring in money unseen. I hope however I'm wrong and it does happen.

8th February 10, 11:49 PM	#2
halicon Super Moderator Space Invaders Champion!Tournaments Won: 1 Location: hello internet Posts: 1,293	i have never understood that anyway. if i want something from online i use my credit card anyway? so what's the difference if pay pal come. i am sure they could get here through a bank. fortunately for us money talks. ______________________________________________________________ dies irae! dies illa solvet saeclum in favilla, teste domino du infernos cum satanas.

9th February 10, 08:07 AM	#4
Rustum Duppy Conqueror Location: Cape Town Posts: 418	Also, Paypal is used to get paid by overseas clients. I'm struggling to get some dollars through and without Paypal it's expensive. Client wants to wire it, which means a $15 fee on their side, and $15 my side, excluding exchange fees. What I don't get, though, is why in US they can't just deposit it in the bank. I've received money from UK, Denmark and Netherlands via normal bank deposits. But yeah, I got some funds hanging in limbo. I could join Paypal and use the money to buy online, but I'd rather have the cash. ______________________________________________________________ Open Letter to iBurst Black South-Eaters Groundwork

9th February 10, 08:37 AM	#5
Tamago Active Lounger Location: Joburg Posts: 720	Paypal would help me a great deal. Why? Many of my fellow engineers in far flung places such as the United Kingdom, tend to sell some of their toys i.e. surplus electronic scrap and stuff, and for this reason PayPal is preferable to them. This means finally, without having to do a wire transfer which the banks rip me off with and costs me time off work, I can now trade with them. Also, many guys who write some mighty fine shareware, also only accept Paypal, it would help me, a great deal! ______________________________________________________________ ic definition: The handle of a moderator on a South African telecommunications forum, who is well known for being as cold as ice, unfriendly, and gets his jollies from banning forum members and/or infracting them!

9th February 10, 04:16 PM	#6
Prometheus Resident Brainiac Location: Somewhere... around... here Posts: 808	It would be great if we could use Paypal. Unfortunately I don't see it as happening even with the help of a bank. SARS and the SA Reserve Bank wants all money coming in to be declared so it means wire transfers and paperwork. Paypal makes it too easy to bring in money unseen. I hope however I'm wrong and it does happen. ______________________________________________________________ Support the opposition [citation needed] Officially myBroadband free since 2008-07-15

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