What do you do with your Paypal balances?

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Blantyre

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I used to use it for online purchases but I just let it accumulate over the years as I did not desperately need the funds.

It is now fairly big, not in the millions but definitely good enough to buy a lower end new car.

I'm guessing that if I bring it into my SA bank account, a big amount of it will be claimed by SARS.

Is there a way to invest the funds internationally to allow it to grow?
 
biometrics

biometrics

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Why would SARS claim it, is it from income or crypto?

FNB accept Paypal I think.
 
Papa Smurf

Papa Smurf

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No SARS is not happy at all if you have monies overseas as you have asked to invest.
I often get into kak here at work coz i have credit with a supplier overseas.

SARS is on the verge of taking our Importers thingy away

As a result the accounting department upstairs have banned me from making any further overseas purchases and will not process any payments that i have asked for.

Frigging wussies, old people suck !!!
 
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Blantyre

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biometrics said:
Why would SARS claim it, is it from income or crypto?

FNB accept Paypal I think.
Click to expand...

If I transfer it to my account, wouldn't they ask for a cut as tax?

An alternative is to get a Payoneer debit card but I saw the fees were like 2% per transaction which adds up.
 
B

Blantyre

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Papa Smurf said:
No SARS is not happy at all if you have monies overseas as you have asked to invest.
I often get into kak here at work coz i have credit with a supplier overseas.

SARS is on the verge of taking our Importers thingy away

As a result the accounting department upstairs have banned me from making any further overseas purchases and will not process any payments that i have asked for.

Frigging wussies, old people suck !!!
Click to expand...

Pity and SARS is the one government department that is world class at carrying out their duties so it's advisable not to try and fool them.
 
spiderz

spiderz

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Go on a overseas holiday!
Or just buy stuff and have it delevired.
 
BloodrayneZA

BloodrayneZA

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Papa Smurf said:
No SARS is not happy at all if you have monies overseas as you have asked to invest.
I often get into kak here at work coz i have credit with a supplier overseas.

SARS is on the verge of taking our Importers thingy away

As a result the accounting department upstairs have banned me from making any further overseas purchases and will not process any payments that i have asked for.

Frigging wussies, old people suck !!!
Click to expand...
Aren’t you calling yourself an old sucker?
 
B

Blantyre

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spiderz said:
Go on a overseas holiday!
Click to expand...

I was thinking about that but will they query if I use it to pay for flights out of SA? I'm a simple guy who values experiences more than material items so I'd rather try and go somewhere.
 
B

Blantyre

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Dave said:
No fees, in fact I get 0.5% cash back on purchases.
Click to expand...
How do you register for the card? I should do that. If this is the case, I may need to find a way to transfer the funds from Payoneer to Paypal.
 
Dave

Dave

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