Visa Debit Card, Receiving funds via PayPal in Trinidad

[Aribabs]

Yes I received funds everyday on my PayPal account using a Visa debit card......
My account is currently frozen.
They usually hold each payment for 30 days before it is released.

What is the exact name of the card you use? The VTM (Visa Travel Money) card does not work.

[Chimera]

i got my main paypal account frozen a few months ago

it was the first account i made, before Trinidad had the option to receive payments.

shittiest thing is that I had a US bank account number on that paypal account to receive payments and I had a Trinidad visa card on it to make payments

that US bank account is now permanently unusable on anything with paypal.

[Chimera]

oh yeah..the account was frozen/disabled because of the fact that I am a Trini, living in Trinidad but using a US bank account. (us bank account in my name eh..and the bank would send correspondence to my LP number in Trinidad just as if it was a local bank)

[Trini Hookah]

Biz was right, got it to work after.

[Aribabs]

Ok I did some testing and here's what I found

In Trinidad & Tobago you CAN use a Republic Bank Visa Debit Card (Visa Travel Money / VTM) card with PayPal for BOTH payments and withdrawals. You CAN setup your PayPal account as a T&T resident using your T&T address without needing a US address or bank account.

The VTM card is a US$ card. Even if you put TT$ on the card it will be converted to US$. You can withdraw money from the card in any currency, it will be taken out as US$ and converted using the current exchange rate.

Republic Bank offers the VTM cards to anyone, you don't need to have an account with them. All you need is 2 forms of ID (a utility bill may be needed). They charge US$10 for the card which you can pay with in TT$. It takes 2 days for the VISA debit card to activate but you can load it up with money immediately when applying for the card. The VTM card has a PIN number that you can use at ATMs anywhere. You can use the VTM card without PayPal to buy stuff on websites that accept VISA credit cards. There is no fees to use the VTM card, however there is a fee to withdraw cash from the card (TT$20 per withdrawal I think).

If you do have a Republic bank account you can sign up for online banking and be able to check your VTM card balance online. you can also use Republic online banking to transfer funds to load your VTM card with more money.

You can sell items on ebay or anywhere and people can pay you via PayPal. The funds go into your PayPal account immediately and at the end of the month PayPal will automatically withdraw all your PayPal funds to your Visa debit VTM card. You can technically even use it instead of Western Union / MoneyGram to send and receive money from foreign. Keep in mind when you receive a payment via PayPal the funds belong to you but you can't withdraw it or use it for 30 days (paypal does this incase you need to refund the buyer, so it is security for them)

When selling items online, when you receive a payment PayPal charges you a fee of 4.9% + US$0.30 per transaction. So if you receive US$100, PayPal will keep US$5.20. There is additional 3.5% fee if they person pays you in a foreign currency like TT$ from their TT$ credit card - so cater for that when setting your online prices.

If you want to withdraw your PayPal funds to your VTM card you can. However there is a daily withdrawal limit of US$500 per day and there is a fee of US$5.00 per withdrawal. There is however no fee if you wait till the end of the month and PayPal automatically withdraws your entire balance to your VTM card (no limit).

Got a new VTM card over a week ago and tried to add it to paypal, but got this error "This credit card has been denied by the bank that issued your credit card. For details on why your card was denied, please contact your credit card issuer's customer service department. Or, you may want to try adding a different credit card."

Did anyone have success receiving money adding the VTM card to their paypal acount to receive funds?

[Duane 3NE 2NR]

^ did you contact the bank and tell them the card is not working?

Yes I received funds everyday on my PayPal account using a Visa debit card......
My account is currently frozen.
They usually hold each payment for 30 days before it is released.

What is the exact name of the card you use? The VTM (Visa Travel Money) card does not work.

the VTM card works!

as I stated above "In Trinidad & Tobago you CAN use a Republic Bank Visa Debit Card (Visa Travel Money / VTM) card with PayPal for BOTH payments and withdrawals."

When someone pays you via PayPal, the funds are held by PayPal for 30 days to ensure that the customer is happy and that your account has sufficient funds should the customer require a 30 day refund. Once the 30 days has passed your funds change status from "pending" to "available" and you can now withdraw the funds to your Republic Bank VTM card for a fee of US$5. You can withdraw a maximum of US$500 per day. Alternatively you can wait till the last day of the month when PayPal will automatically withdraw ALL your available funds to your VTM card, no fee is charged for this transaction and there is no limit to the amount that is withdrawn. (note that a Republic Bank VTM card can only hold up to US$5000, however you can use the VTM card at an ATM or go into a Republic Bank branch and withdraw the funds from your VTM card as TT$ or US$ (if notes are available) or even via managers cheque; there is a fee of TT$20 per card cash-withdrawal)

I use the Republic VTM card with my T&T PayPal account everyday with no problems.

[Aribabs]

I get rejected everytime I try to add my Republic Visa credit card to receive funds. I even used a VTM card, but this too was rejected. At this point I cannot receive funds.

[Aribabs]

Duane, then why is my card being rejected by paypal. I just got this card about a week ago, and I am just now trying to add it to my paypal account and I get an error message saying the card "This credit card has been denied by the bank that issued your credit card."
My VTM is an electron card. It says 'electronic use only' at the bottom.

[Duane 3NE 2NR]

^ did you contact the bank?

PayPal is saying that the BANK is rejecting the authorization, so the issue is not with PayPal, but with the bank.

Here's how it works: PayPal tests your card by taking out US$1.92 from your credit card. They do this to verify that it is a legit card. You get a 4 digit code on your credit card statement of the transaction and you send this code to PayPal to verify the card. If PayPal cannot charge the $1.92 on the card then they say "This credit card has been denied by the bank that issued your credit card.".

You need to contact the Republic Bank Credit Card Center and let them know that the card is being rejected by PayPal.

you have it easy, when i set this up the CSRs at Republic Bank didnt even know that you can receive funds on the VTM card via PayPal and they said it was impossible at first - now everyone uses that option in T&T.

[Aribabs]

I didnt put any money on the card when I bought it for $10 US. Do you think that's why?
And isn't VTM a debit card instead of credit card?

[Duane 3NE 2NR]

^ you would need to put money on it in order to verify it - that is most likely why the bank is rejecting the transaction!

and yes, a VTM card is a debit card, not a credit card, so you need to put money on the card before you can use it to make purchases

[Aribabs]

Ok thanks, I will add money to the card then try again to add it to my paypal account.

[Duane 3NE 2NR]

^ you should be able to add your VISA credit card immediately.

[Aribabs]

Yep, my credit card is already added. It's the VTM debit card that's giving problems. I will top it up soon then try again.

[crazychinee]

^ did you contact the bank and tell them the card is not working?

Yes I received funds everyday on my PayPal account using a Visa debit card......
My account is currently frozen.
They usually hold each payment for 30 days before it is released.

What is the exact name of the card you use? The VTM (Visa Travel Money) card does not work.

the VTM card works!

as I stated above "In Trinidad & Tobago you CAN use a Republic Bank Visa Debit Card (Visa Travel Money / VTM) card with PayPal for BOTH payments and withdrawals."

When someone pays you via PayPal, the funds are held by PayPal for 30 days to ensure that the customer is happy and that your account has sufficient funds should the customer require a 30 day refund. Once the 30 days has passed your funds change status from "pending" to "available" and you can now withdraw the funds to your Republic Bank VTM card for a fee of US$5. You can withdraw a maximum of US$500 per day. Alternatively you can wait till the last day of the month when PayPal will automatically withdraw ALL your available funds to your VTM card, no fee is charged for this transaction and there is no limit to the amount that is withdrawn. (note that a Republic Bank VTM card can only hold up to US$5000, however you can use the VTM card at an ATM or go into a Republic Bank branch and withdraw the funds from your VTM card as TT$ or US$ (if notes are available) or even via managers cheque; there is a fee of TT$20 per card cash-withdrawal)

I use the Republic VTM card with my T&T PayPal account everyday with no problems.

I had this discussion recently with what most would consider a senior IT person in Tnt. Told me the bank considers this financial fraud.

Just saying, maybe I heard wrong.

[mero]

ok people, maybe i missed this somewhere inside this thread, but how much does Trinidad to Trinidad transaction charges cost?

[[X]~Outlaw]

^ did you contact the bank and tell them the card is not working?

Yes I received funds everyday on my PayPal account using a Visa debit card......
My account is currently frozen.
They usually hold each payment for 30 days before it is released.

What is the exact name of the card you use? The VTM (Visa Travel Money) card does not work.

the VTM card works!

as I stated above "In Trinidad & Tobago you CAN use a Republic Bank Visa Debit Card (Visa Travel Money / VTM) card with PayPal for BOTH payments and withdrawals."

When someone pays you via PayPal, the funds are held by PayPal for 30 days to ensure that the customer is happy and that your account has sufficient funds should the customer require a 30 day refund. Once the 30 days has passed your funds change status from "pending" to "available" and you can now withdraw the funds to your Republic Bank VTM card for a fee of US$5. You can withdraw a maximum of US$500 per day. Alternatively you can wait till the last day of the month when PayPal will automatically withdraw ALL your available funds to your VTM card, no fee is charged for this transaction and there is no limit to the amount that is withdrawn. (note that a Republic Bank VTM card can only hold up to US$5000, however you can use the VTM card at an ATM or go into a Republic Bank branch and withdraw the funds from your VTM card as TT$ or US$ (if notes are available) or even via managers cheque; there is a fee of TT$20 per card cash-withdrawal)

I use the Republic VTM card with my T&T PayPal account everyday with no problems.

I had this discussion recently with what most would consider a senior IT person in Tnt. Told me the bank considers this financial fraud.

Just saying, maybe I heard wrong.

I see no logical reason why it would be considered as fraud. When I went to get a VTM card I told the bank what I had in mind (payment via PayPal) and they told me I would be able to use it in such a fashion with no problems. I mean at the end of they day they make $ every-time PayPal transfers funds to the card.

[Duane 3NE 2NR]

^ depending on the amount it could be considered tax evasion if not done properly

I had this discussion recently with what most would consider a senior IT person in Tnt. Told me the bank considers this financial fraud.

Just saying, maybe I heard wrong.

how is it considered as fraud?
once you declare your income to BIR and pay your taxes on it, how can it be fraudulent?

If the issue is based on the commingling of funds, the VTM card should be out on your business name. ideally the business should have a VISA credit card on its name and funds withdrawn there.

ok people, maybe i missed this somewhere inside this thread, but how much does Trinidad to Trinidad transaction charges cost?

as a Trinidad PayPal account holder, if someone sends you funds, PayPal charges the recipient 4.5% plus US$0.30 per payment.

So if someone paid you US$20 via PayPal, you would actually get US$18.80

it does not matter whether they pay you from Trinidad or elsewhere.
PayPal also has exchange rate fees for funds from certain countries and currencies.

[mero]

I'm having the same problem as Aribabs, only thing is i put money in my account when i signed up and activated the VTM card. However when i signed up on Paypal to be able to receive funds; after they told me they need to subtract the $1.50 or something to verify and also using the 4 digit code on the statement I received.

I got this in an email

You linked your debit or credit card to your PayPal account on Oct 6, 2012. To make sure the card is yours, we made a small charge to it that you'll need to confirm (and we'll refund the money to your PayPal account when you're done).

The charge creates a unique 4-digit code on your card statement. If you don't see the charge right away, don't worry - sometimes it takes a few days to show up. If you can't check your card statement online, check your paper statement when it comes in the mail (this can take up to 30 days). You will find the charge from PayPal with a 4-digit code

then a few hours after a received this in an email

Your recent PayPal transaction could not be completed because your credit card company did not allow the payment to go through.

Fortunately, this is easily fixed and it only takes a few moments.

Add a valid credit card that can be used for international transactions

Click here and log in to your PayPal account
Click on Profile and choose Credit/Debit Cards under Financial Information
Follow the instructions to add your card

Since I do not have an account with Republic, how will I get this 4 digit code to verify my account? Do I have to speak with a teller? Or is it something I can call in on, or check online? Or its best that I just open up a checkings or saving account so it can come in my bank statements? Thanks

[NR8]

FYI to anyone, RBL VTM doesn't always work online; some merchants still require a US issued card for fraud reasons.

Would you happen to know which merchants it doesn't work with?

[intelMAX]

Quick Question:-

Anyone ever ordered from Zappos.com with a VTM card

[NR8]

So I have a Visa Internet Shopping Card (Rep Bank)

Is that the same as the VTM card?

[Bizzare]

Guys the VISA Travel Money card - I never had issues using it. I've purchased stuff at numerous locations online without problem. I never had any problem using it on PayPal either. Except today, I couldn't transfer funds to an online service and well the limits on these cards are small.

I think RBL disabled my card or something from previous transactions, cuz I used someone else's VTM and it worked. Using these for business is not a good idea.

[NR8]

as far as I know you can withdraw at the teller any amount from the card once it's not ALL, the fee is 20TT per withdrawal - if you have ID I can't see how it is a security risk - ask them what risk is there? It's a debit card, it's YOUR money!

withdrawing all your funds from the card cancels the card, i think

I inquired about this while applying for a VTM card today. Withdrawing all funds does not cancel the card. It's valid for 5 years. The card will only be cancelled if you apply for it to be, in writing.

The VTM card can be used at ATMs and POS terminals that accept VISA/ PLUS both locally and abroad, as well as online.

Hope this helps.

[lance100]

I'm having the same problem as Aribabs, only thing is i put money in my account when i signed up and activated the VTM card. However when i signed up on Paypal to be able to receive funds; after they told me they need to subtract the $1.50 or something to verify and also using the 4 digit code on the statement I received.

I got this in an email

You linked your debit or credit card to your PayPal account on Oct 6, 2012. To make sure the card is yours, we made a small charge to it that you'll need to confirm (and we'll refund the money to your PayPal account when you're done).

The charge creates a unique 4-digit code on your card statement. If you don't see the charge right away, don't worry - sometimes it takes a few days to show up. If you can't check your card statement online, check your paper statement when it comes in the mail (this can take up to 30 days). You will find the charge from PayPal with a 4-digit code

then a few hours after a received this in an email

Your recent PayPal transaction could not be completed because your credit card company did not allow the payment to go through.

Fortunately, this is easily fixed and it only takes a few moments.

Add a valid credit card that can be used for international transactions

Click here and log in to your PayPal account
Click on Profile and choose Credit/Debit Cards under Financial Information
Follow the instructions to add your card

Since I do not have an account with Republic, how will I get this 4 digit code to verify my account? Do I have to speak with a teller? Or is it something I can call in on, or check online? Or its best that I just open up a checkings or saving account so it can come in my bank statements? Thanks

X 2... same exact problem with my VTM ... I went to the bank today (Republic bank of course) and they said they give you a special number/passcode or something of the sorts to enter specifically for if you are getting trouble with paypal.

I had to put funds into the VTM today first and foremost, so once approved i'm going back 2mrw to get that passcode, will update asap.

[mero]

ok dude, sorry i didn't update but all you have to do is call the Card Office, the number is on the letter they gave you. All you have to do is give them the name, number and address of the card and they'll tell you.

[st7]

guys, by chance anyone or anyone you know ever received any payments using EFT (electronic fund transfer) on amazon kdp (kindle)? in other words, you or they were selling a book on the site and was able to receive royalty payments directly to your trinidad-based VTM thru paypal.

i dont see TnT as an option so would it be possible to add paypal as a US bank account so as to get payment electronically or are checks the only option trinis have?

[Soul Collector]

So what I got so far is I can receive money on paypal. If I want something bought from abroad but I need to be IN the US to qualify to but it, can I SEND money from my paypal (if I set one up) to someone in the US with paypal for them to buy it for me to have it sent to my skybox in Miami?

[Soul Collector]

So can I transfer money from my paypal account using my VTM to another paypal account to a friend in the US?

[copper_shot]

any updates on this?

I need to receive paypal payments from US
(already have a local paypal account which I purchase with)

I was going tomorrow to apply for the republic bank VTM card and follow the instructions posted by duane

is this the best way to receive paypal payments? or are they other/new options?