Receiving payments in Colombia

[SomeoneSomewhe1]

I'm very new to Paypal so this might be something reasonably simple but I'm a little confused and hence reaching out for advice.

I would like to receive cross border payments (relatively small amounts) in Colombia. These are payments from friends and family not business related. I would like to then transfer this amount to my bank account in Colombia.

I have a few questions around this:

1. Do I need a Personal or a Business account to receive these payments?

2. If someone transfers money to my Paypal account - can I directly transfer it to my bank account or are there some more intermediary steps involved?

3. How much time would it take for the money to reach my account?

4. Any other thing I need to be aware of while receiving these payments.

@NicoMontoya- I see you might have some experience with this... your feedback will be highly appreciated.

Thanks in advance.

[kernowlass · Accepted solution]

@SomeoneSomewhe1 

1. Personal is fine. However you will pay a fee as you don't have the friends/family option in Columbia as far as I am aware, so if it is personal gift payments and not payments for goods/services then maybe consider if xoom is available in the countries involved?

https://www.xoom.com/

2. You may be subject to the new seller hold as per link below but after that you should be able to withdraw ok as soon as paid.

https://www.paypal.com/co/smarthelp/article/my-payment-is-on-hold.-why-is-this-happening-faq3297?app...

3. https://www.paypal.com/ar/webapps/mpp/withdrawal-options

4. As they are not business related and you won't be selling anything then you would not need seller protection from family or friends so no.

https://www.paypal.com/co/home/?locale.x=en_CO

[SomeoneSomewhe1]

I have one more question on this... in the same situation... Paypal Colombia account where I receive money cross border and transfer to my Colombian bank account.

If I have a Business Paypal account can I use it to receive personal payments? Will I have to jump through any extra hoops for a few personal payments in that account? Or can I just classify them as personal and that's all?