What is PayPal?
PayPal is a cheap, convenient and safe method to send money to anyone, nationwide. It offers an easy way to transact online.
The service has more than 100 million active users in over 190 countries.
Since the service has been made available to South African consumers through First National Bank (FNB), there have been a number of changes made to extend the services more widely.
While the service was previously exclusive to FNB, in 2011, PayPal withdrawals have been open to all South African banks. As a result, individuals have been able to benefit from using PayPal using South Africa with an Absa account.
Chris Savides, General Manager for FNB Complementary Online Services said: “We are pleased to open up the PayPal service for receiving funds to all customers with a South African bank account. They will now be able to withdraw funds from a PayPal account into a qualifying South African bank account regardless of which South African bank that they bank with.”
Using PayPal South Africa with an Absa Account should be a much simpler process nowadays. By using PayPal, individuals are able to sign up for free online banking from FNB. Thereafter they will be able to send money to their Absa account.
What are some of the benefits of getting a PayPal account?
- Using PayPal allows you to shop safely and securely online
- You can earn credit card points on purchases
- Operating a PayPal account is free
Absa also launched its own answer to PayPal, called “Cash Send”. This service allows Absa customers to send money to anyone in South Africa with a cell phone number. It works directly from a sender’s bank account and has specific security features such as the PIN which the sender selects, the rand amount and a system-generated 10 digit access code.
To find out more about using PayPal South Africa with an Absa Account, visit www.absa.co.za