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Why is my Paypal account hard locked?

This information is for South African residents only. 

Many Paypal users have recently found that when they attempt to transfer money from their Paypal account to their FNB account, they receive a notification that their account as been hard locked.

I’ve written a post about how to transfer money from Paypal to a South African bank account which has become the most read post on my blog in the last few years. You can read it here:

How to withdraw funds from PayPal in South Africa – 2020 update

I’ve started getting comments on that post and an older post sharing an outdated transfer technique regarding notifications about locked Paypal accounts for South African residents. What many South African Paypal users might not know is that FNB, which is the only local bank that funds can be transferred to from your Paypal account. Banks are also obligated to report international payment details to the South African Revenue Service (SARS), which is why your account is now hard locked.

Don’t panic it is relatively “easy” to unlock the account.

PayPal purchases

In order to continue transferring funds from your Paypal to your local bank account you’ll need to follow some administration steps. A local South African gaming streamer, Syernide, was able to publicly share what Paypal users need to do as he had experienced the same hard locking. He also put together a Google Drive folder with the necessary details you’ll require. I’ve summarised the process below and would like to say a big thank you to Syernide for correlating all the information together.

Fill in a Self-Certification Form

If you’d like more information regarding the Automatic Exchange of Information, Foreign Account Tax Compliance Act and the Common Reporting Standards, FNB has put together a Customer guide to better explain the legislation that needs to be followed by the bank. 

You can find the guide by clicking here.

To unlock your Paypal account you’ll need to fill in a Self-Certification Form.

This form gives the bank some personal information and then asks where and if you file tax returns with SARS. If you are not filing tax returns in other countries, the form is relatively standard and simple to fill out. The information you are submitting is contact information primarily.

You can find the Self-Certification Form by clicking here

Once you have filled out this form you need to email it to IndividualCRS@fnb.co.za

Syernide has also suggested, should you need the account unlocked urgently, you could call a bank consultant on the number 087 736 5333 and ask them to process your request while you’re on the line.

The above steps should unlock your account. Syernide has also put together a Google Drive Folder, as mentioned, with all the documents I’ve linked above. You can view the folder by clicking here.

Hopefully this should assist in ensuring you can continue to withdraw your Paypal funds. 

 

 

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