Are you looking for information on how to transfer money from Paypal to Capitec in South Africa? Is it even possible to to do? Paypal is a global payments platform. In South Africa, it is used by a lot of people, including those who have online stores and others who work online. Meanwhile, Capitec is the country’s biggest bank by customer numbers. The challenge is that the only bank that currently links to Paypal is FNB. So, is it possible to transfer money from Paypal to Capitec?
Paypal to Capitec transfer steps
The following is how to transfer money from Paypal to Capitec in South Africa;
- First, you need to register for an FNB online banking profile. FNB is the only bank in South Africa that directly links to Paypal. To get started, go to the FNB website and click on Register. Choose the option to Register for PayPal for non FNB customers. Choose Paypal for Me. Select I do not bank with FNB. Complete the rest of the information to create your FNB banking profile.
- Once you have created your FNB online banking profile, you can withdraw money from Paypal into your Capitec account. To do that, log into your FNB online banking profile. Go to your profile and click on My Bank Accounts. Choose Paypal Services. Choose the option to Withdraw from PayPal. Enter the amount to be withdrawn. Enter your Capitec Bank account. Type in the reason for withdrawing the money. Click on Get Quote. You will get the day’s exchange rate. Accept the terms and conditions and confirm your transaction. Complete the remaining steps to transfer your money.
It’s easier for FNB customers
That’s how to transfer money from Paypal to Capitec in South Africa. As you can see, it’s a bit of a roundabout process, but it can be done. The major challenge is that Capitec does not link directly with Paypal.
The only bank that does so at the moment is FNB. So, if you are not an FNB customer, you need to go through the above steps. FNB customers find things easy because it’s not that challenging to link their accounts to Paypal.
With other banks like Capitec, you need to create an FNB online banking profile. It won’t take time for you to do so, but some people may find it challenging.
In this article, we showed you how to transfer money from Paypal to Capitec. We noted that you need to first create an FNB online banking profile. That’s because FNB is the only bank in South Africa that is directly linked to Paypal. The good news is that it’s easy to create such a profile. FNB provides everything that non customers need to use Paypal. Once you have created your profile, you can make transfers to your Capitec account.