Visa Debit Card, Receiving funds via PayPal in Trinidad

[go_pro]

Not too sure about debit card but i receive payments on paypal all the time and redeem to my Visa without any issues.
I suppose if i want i could then use Republic Bank online banking to transfer from credit card to bank card if i wanted to...

pp.png

Are you able to withdraw to your visa ? Everytime i try to withdraw paypal says my visa is not eligible for instant transfer. I have a scotia visa platinum and a republic VTM .. same issue .. From your screenshot the platform looks different from what i see . Is this the same paypal link or something specific to trinidad?

[wagonrunner]

go_pro's exact problem is stated in their image.

[Duane 3NE 2NR]

I believe instant transfers are different from withdrawals.
Instant transfers only work with US bank accounts and cards.
In T&T, PayPal withdrawals work with Visa credit and debit cards, not with Mastercard.

The Soctiabank Visa Platinum and Republic Visa Travel Money (VTM) cards both work for PayPal withdrawals with no problems, years now.

[shaneelal]

Anyone here regularly receives money via PayPal?

I receives regularly 500 USD weekly i just withdraw it true my republic bank tt credit card and transfer funds to my account ........

Here is a little proof

Sorry to bring up this old thread, if I have a RBL CC and recieve USD into Paypal, can the funds be transferred to CC then to RBL USD account? PayPal rep indicated that the funds will be converted to local currency if use FCB Visa card.

[Duane 3NE 2NR]

Anyone here regularly receives money via PayPal?

I receives regularly 500 USD weekly i just withdraw it true my republic bank tt credit card and transfer funds to my account ........

Here is a little proof

Sorry to bring up this old thread, if I have a RBL CC and recieve USD into Paypal, can the funds be transferred to CC then to RBL USD account? PayPal rep indicated that the funds will be converted to local currency if use FCB Visa card.

If you use a RBL VTM (VISA Travel Money debit) card the funds will be transferred from PayPal to your VTM card as US$.
I am not sure about a RBL or FCB credit card. I believe the RBL credit card has a US$ side, maybe if you can transfer it to that?

[shaneelal]

^ For FCB credit card it will be converted to TTD. RBL no longer issues VTM.
Curious if anyone has been able to recieve funds on USD side of RBL CC and have the funds transferred to local USD RBL account.

[Chimera]

Anything transferred to a credit card would be like paying money to the credit card. If you try to withdraw then you getting hit with cash advance fees

[sMASH]

Anything transferred to a credit card would be like paying money to the credit card. If you try to withdraw then you getting hit with cash advance fees

Salt...

[Sinz]

Good, assist me if you can please,

I have funds which are to be be transferred to me (in USD), and one of the methods of transfer is PayPal. How easy is it for cash to be transferred and cashed out locally? I bank with FCB and also have a VISA card (not prepaid) in their name.

Thanks in advance guys.

[Duane 3NE 2NR]

Good, assist me if you can please,

I have funds which are to be be transferred to me (in USD), and one of the methods of transfer is PayPal. How easy is it for cash to be transferred and cashed out locally? I bank with FCB and also have a VISA card (not prepaid) in their name.

Thanks in advance guys.

You can have the person transfer the funds to your PayPal account.
The funds will show immediately in your PayPal, however you will have to wait 30 days for the funds to become available.
Once the funds are available you can withdraw the funds to your FCB VISA credit card. This costs US$5 to withdraw up to US$500 per day. Or you can wait until the 1st of the next month and PayPal will automatically withdraw ALL your available balance to your FCB VISA card at NO charge.
It will show as a charge back to your credit card.
Last i checked you will need your bank routing number to add your T&T bank account to PayPal - not all T&T banks work, if any at all.

Payoneer.com lets you add a T&T bank account and withdraw your funds to it, it works just like PayPal.

[Sinz]

Good, assist me if you can please,

I have funds which are to be be transferred to me (in USD), and one of the methods of transfer is PayPal. How easy is it for cash to be transferred and cashed out locally? I bank with FCB and also have a VISA card (not prepaid) in their name.

Thanks in advance guys.

You can have the person transfer the funds to your PayPal account.
The funds will show immediately in your PayPal, however you will have to wait 30 days for the funds to become available.
Once the funds are available you can withdraw the funds to your FCB VISA credit card. This costs US$5 to withdraw up to US$500 per day. Or you can wait until the 1st of the next month and PayPal will automatically withdraw ALL your available balance to your FCB VISA card at NO charge.
It will show as a charge back to your credit card.
Last i checked you will need your bank routing number to add your T&T bank account to PayPal - not all T&T banks work, if any at all.

Payoneer.com lets you add a T&T bank account and withdraw your funds to it, it works just like PayPal.

Thanks so much for the info Duane.

Is a routing number a requirement to transfer the funds from my PayPal to the FCB card? Or is that just for PayPal to my bank account? And if it's the case for the former, that would mean that Payoneer will be the only option available, correct?

[Duane 3NE 2NR]

Good, assist me if you can please,

I have funds which are to be be transferred to me (in USD), and one of the methods of transfer is PayPal. How easy is it for cash to be transferred and cashed out locally? I bank with FCB and also have a VISA card (not prepaid) in their name.

Thanks in advance guys.

You can have the person transfer the funds to your PayPal account.
The funds will show immediately in your PayPal, however you will have to wait 30 days for the funds to become available.
Once the funds are available you can withdraw the funds to your FCB VISA credit card. This costs US$5 to withdraw up to US$500 per day. Or you can wait until the 1st of the next month and PayPal will automatically withdraw ALL your available balance to your FCB VISA card at NO charge.
It will show as a charge back to your credit card.
Last i checked you will need your bank routing number to add your T&T bank account to PayPal - not all T&T banks work, if any at all.

Payoneer.com lets you add a T&T bank account and withdraw your funds to it, it works just like PayPal.

Thanks so much for the info Duane.

Is a routing number a requirement to transfer the funds from my PayPal to the FCB card? Or is that just for PayPal to my bank account? And if it's the case for the former, that would mean that Payoneer will be the only option available, correct?

A routing number is not needed to withdraw from PayPal to your FCB Visa card.
A routing number is only needed if you wish to wish to withdraw from you PayPal directly to your bank account - this is if you wish to receive the cash.
Payoneer lets you withdraw to your T&T bank account.

[Sinz]

A routing number is not needed to withdraw from PayPal to your FCB Visa card.
A routing number is only needed if you wish to wish to withdraw from you PayPal directly to your bank account - this is if you wish to receive the cash.
Payoneer lets you withdraw to your T&T bank account.

But if I transfer funds to my CC, I can always withdraw to an ATM. But I guess having it transferred directly takes away the extra step.

[Duane 3NE 2NR]

A routing number is not needed to withdraw from PayPal to your FCB Visa card.
A routing number is only needed if you wish to wish to withdraw from you PayPal directly to your bank account - this is if you wish to receive the cash.
Payoneer lets you withdraw to your T&T bank account.

But if I transfer funds to my CC, I can always withdraw to an ATM. But I guess having it transferred directly takes away the extra step.

Withdrawing cash from your credit card is also known as a cash advance.
It usually has a much higher rate of interest than using your credit card for a purchase.
Be sure to read up on how your bank treats a cash advance before withdrawing cash from your credit card.
https://www.youtube.com/watch?v=VB76XHen4YQ

[st7]

Good, assist me if you can please,

I have funds which are to be be transferred to me (in USD), and one of the methods of transfer is PayPal. How easy is it for cash to be transferred and cashed out locally? I bank with FCB and also have a VISA card (not prepaid) in their name.

Thanks in advance guys.

You can have the person transfer the funds to your PayPal account.
The funds will show immediately in your PayPal, however you will have to wait 30 days for the funds to become available.
Once the funds are available you can withdraw the funds to your FCB VISA credit card. This costs US$5 to withdraw up to US$500 per day. Or you can wait until the 1st of the next month and PayPal will automatically withdraw ALL your available balance to your FCB VISA card at NO charge.
It will show as a charge back to your credit card.
Last i checked you will need your bank routing number to add your T&T bank account to PayPal - not all T&T banks work, if any at all.

Payoneer.com lets you add a T&T bank account and withdraw your funds to it, it works just like PayPal.

Thanks for this bit of info, Duane!

[The_Honourable]

Payoneer lets you withdraw to your T&T bank account.

Good posts, thanks Duane.

Quick question. If you have a US account with a local bank, and you withdraw US funds from Payoneer to your local US bank account, any issues?

[De Dragon]

A routing number is not needed to withdraw from PayPal to your FCB Visa card.
A routing number is only needed if you wish to wish to withdraw from you PayPal directly to your bank account - this is if you wish to receive the cash.
Payoneer lets you withdraw to your T&T bank account.

But if I transfer funds to my CC, I can always withdraw to an ATM. But I guess having it transferred directly takes away the extra step.

Withdrawing cash from your credit card is also known as a cash advance.
It usually has a much higher rate of interest than using your credit card for a purchase.
Be sure to read up on how your bank treats a cash advance before withdrawing cash from your credit card.
https://www.youtube.com/watch?v=VB76XHen4YQ

And with some banks, the interest kicks in instantly, unlike a purchase where you have some time beforehand.

[Sinz]

Ok ok I understand. Thanks a mil for the info guys. Much appreciated.

[Duane 3NE 2NR]

Payoneer lets you withdraw to your T&T bank account.

Good posts, thanks Duane.

Quick question. If you have a US account with a local bank, and you withdraw US funds from Payoneer to your local US bank account, any issues?

It will work but the fees are high from the local receiving bank in T&T.

csb time:
Someone sent me US$65 via Payoneer. Payoneer charged US$1.95 to receive and then charged US$1.26 to withdraw, no problem there.
But then my local T&T bank charged US$29 to receive the US$61.79 into my local USD bank account. No conversion to ttd was needed or done.

so from $65 only $32.79 was collected.

I’m sure it would make sense to use this for larger sums, as the fees will then be negligible in comparison. But for micro-transactions like this, it doesn’t make sense.

[neilsingh100]

Payoneer lets you withdraw to your T&T bank account.

Good posts, thanks Duane.

Quick question. If you have a US account with a local bank, and you withdraw US funds from Payoneer to your local US bank account, any issues?

It will work but the fees are high from the local receiving bank in T&T.

csb time:
Someone sent me US$65 via Payoneer. Payoneer charged US$1.95 to receive and then charged US$1.26 to withdraw, no problem there.
But then my local T&T bank charged US$29 to receive the US$61.79 into my local USD bank account. No conversion to ttd was needed or done.

so from $65 only $32.79 was collected.

I’m sure it would make sense to use this for larger sums, as the fees will then be negligible in comparison. But for micro-transactions like this, it doesn’t make sense.

Looks like Payoneer sending the funds to the local bank via wire transfer so if this is the case does not make sense for small amounts. Which bank?

[Dave]

If they are flat fees then great, if a percentage then there's more to consider.

[Duane 3NE 2NR]

Scotiabank
I believe it is a flat fee plus a percentage (maybe 3%)
What are standard fees for receiving USD funds into a local USD account via wire transfer?

[neilsingh100]

Scotiabank
I believe it is a flat fee plus a percentage (maybe 3%)
What are standard fees for receiving USD funds into a local USD account via wire transfer?

Varies by bank but the following link (although from 2016) should give you an idea.
https://www.central-bank.org.tt/sites/d ... 9%202016_0.

Scotia Incoming wire transfer fees are $0-$35.00 $USD so the US$29 is most likely that.

[Duane 3NE 2NR]

Scotiabank
I believe it is a flat fee plus a percentage (maybe 3%)
What are standard fees for receiving USD funds into a local USD account via wire transfer?

Varies by bank but the following link (although from 2016) should give you an idea.
https://www.central-bank.org.tt/sites/d ... 9%202016_0.

Scotia Incoming wire transfer fees are $0-$35.00 $USD so the US$29 is most likely that.

What varies the fees between $0-$35.00?

[neilsingh100]

Scotiabank
I believe it is a flat fee plus a percentage (maybe 3%)
What are standard fees for receiving USD funds into a local USD account via wire transfer?

Varies by bank but the following link (although from 2016) should give you an idea.
https://www.central-bank.org.tt/sites/d ... 9%202016_0.

Scotia Incoming wire transfer fees are $0-$35.00 $USD so the US$29 is most likely that.

What varies the fees between $0-$35.00?

Have no idea but RBL & FCB charge around US$15 for an incoming wire transfer.

[widdyphuck]

Is there any advantage to opening a US Bank account from Trinidad or will Payoneer work just fine?
Also is there a way to withdraw the US dollars from paypal and obtain it in US rather than TT?
If I have a US account will this work?

Also If making a payoneer account, do I set the currency to TT or US? Is there any benefit to registering an FCB account rather than a RBC account?

[uniqueprofessor]

Can I use a Scotia Visa Debit card with PayPal to make local purchases where PayPal is accepted?

[elec2020]

Doubt it. Our debit cards (and i could be wrong) not meant to be used on international pamyment systems. In the international arena they can olny be used in certain atms.

[uniqueprofessor]

I saw that PayPal does accept Visa debit cards, but wanted to verify before utilizing the service.

So the PayPal service won't accept local debit cards even if one intends to make a local purchase (no currency conversion etc.)?

Thanks for your assistance.

[Dohplaydat]

I saw that PayPal does accept Visa debit cards, but wanted to verify before utilizing the service.

So the PayPal service won't accept local debit cards even if one intends to make a local purchase (no currency conversion etc.)?

Thanks for your assistance.

It's a currency issue, PayPal as far as I know doesn't accept payments in TTD and those visa debit cards are locked to TTD, I believe.