PayPal switch fees
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Hi DuhDumie,
Welcome to our Community!
Can you explain what you mean by switch fees? You are required to transfer all payments you receive in your PayPal account to South Africa Rands within 30 days. In addition, when you transfer these payments into your South Africa bank account, FNB will provide you with an online form so you can report the source of the payments. This information is transferred to the South Africa Reserve Bank (as required by law). Similarly, when you top up your balance from your FNB bank account, FNB will provide you with an online form so you can report how you intend to use these payments. This is legally required if you wish to make purchases using your PayPal balance.
Thanks
Martin
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