Sending Money to DR by PayPal

Ken

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Jan 1, 2002
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Is it possible for somebody in the UK, Canada or the US to send money to the DR through PayPal?
 

carina

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Mar 13, 2005
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A Pay Pal is usually connected to a credit card, and local cards are not accepted by Pay Pal.
Otherwise, if the reciever has an account with an international card, you can send and the person can recieve on the card and go to any ATM or bank and take the funds out.
 

Chris

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Oct 21, 2002
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carina said:
A Pay Pal is usually connected to a credit card, and local cards are not accepted by Pay Pal.
Otherwise, if the reciever has an account with an international card, you can send and the person can recieve on the card and go to any ATM or bank and take the funds out.

No, not a credit card, a debit card, a paypal debit card. For setting up a paypal account, yes, you need a credit card. But for drawing money from your paypal account through an ATM, Paypal issues their own debit card... Mastercard Paypal Debit card.

Added - you can be linked to a major credit card with your paypal account and can transfer funds in your paypal account to your credit card. You can also be linked to a stateside bank (perhaps other countries as well) and transfer funds from your paypal account to your bank account.

Added again as I?ve forgotten the process - its been a long time.... I think you can open a Paypal account without a major credit card, but then you have to have a bank account. This is US procedures, other countries may have different procedures.
 
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carina

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Chris said:
No, not a credit card, a debit card, a paypal debit card. For setting up a paypal account, yes, you need a credit card. But for drawing money from your paypal account through an ATM, Paypal issues their own debit card... Mastercard Paypal Debit card.

Added - you can be linked to a major credit card with your paypal account and can transfer funds in your paypal account to your credit card. You can also be linked to a stateside bank (perhaps other countries as well) and transfer funds from your paypal account to your bank account.

Added again as I?ve forgotten the process - its been a long time.... I think you can open a Paypal account without a major credit card, but then you have to have a bank account. This is US procedures, other countries may have different procedures.

Ah, ok.. I didn?t know that.
I only recall that Dominican cards does not get verified, which makes the process difficult.
But can they get this debit card, do you know?
It would be such a less expensive way for people to send money here.
 

carina

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The Pay Pal Debit Card is only possible for premiere and business accounts, according to their website, and that is not possible to connect to a local cc or bank account.
 

Chris

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Carina, I have a 'premier business' account. Before I upgraded, I had a premier account. Before this, I had a 'normal' account. I've had a Paypal account for a long time for business. My account was (and still is) connected to both a business credit card as well as a bank account stateside. I?ve had a Paypal debit card for years, both on the ?normal?account (years ago) and on the premier accounts. Customers pay us via Paypal daily. I am not imagining these things. We use Paypal extensively.

Perhaps you should consult the Paypal website for Dominican Republic rules - Paypal is represented here. They do not do transactions in Dominican Pesos - that I know. You need on the US side, a verified, confirmed bank account, or a major credit card (NOT DR as they do not do business in Pesos). I do not know what happens locally, but given that Ken is asking the question, I am sure he would want to know the US side as well. I am answering the US side, not the DR side. If I had a DR credit card or bank account only, I probably would not even attempt Paypal.

What I do know, is that you can withdraw funds from your Paypal account via a debit card, a paper check issued by Paypal or via transfer to a US based credit card or bank account. So, that says to me, you need US banking and credit card credentials. May be different for other countries.

Ken, we?ve often used our Paypal debit card simply to transfer funds down here. We would simply transfer funds to our Paypal account and then withdraw here with our Paypal debit card. I am not sure of the fees on a debit card transaction.
 

carina

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I know the US or European side as well Chris, that is not the issue.
The interesting aspect here is the DR side, and how that would or would not work.
That is the one I wrote, that I don?t think work, even for the free account, as nor DR bank or DR cc is ok, and Pay Pal dc is not issued then.

My guess is if it would work to send someone money thru Pay Pal, that is just a local citizen with a local bankaccount or local cc, then it would be used instead of the so so expensive WU etc.
 

Chris

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carina said:
My guess is if it would work to send someone money thru Pay Pal, that is just a local citizen with a local bankaccount or local cc, then it would be used instead of the so so expensive WU etc.

I think it has been clearly established that this will not work. Paypal does not do business in RD$.
 

carina

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Chris said:
I think it has been clearly established that this will not work. Paypal does not do business in RD$.

Well, that was the original question, and also post # 3 and 8, after that you started to explain what YOU do , but you are not a local citizen.

The sankies would have known about this opportunity for sure :)
 
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Ken

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Jan 1, 2002
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Thanks, Chris and Carina. There has been a request from a couple of El Neptuno owners for a way to easily pay monthly maintenance fees other than by wire transfer. Since I have a personal PayPal account I thought this might be a possibility. The fact that don't do business in RD$ is not a problem because the money that is being sent is dollars or Euros, currencies they do.

Chris, you indicate your customers pay you. How do you get the money and how do you know who has sent you money and the amount? Do you think we should continue considering PayPal or best look for other options?
 

Chris

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Ken, hope this helps -

These are the ways that one can bill and receive payment fror Paypal customers:
Send a Paypal Bill directly from the paypal interface on the web to someone who also has a Paypal account - this bill goes out by e-mail. The customer can pay with a credit card, or transfer from their Paypal account, or even with a check. When it is paid, you can see on your Paypal account what has been paid.
Then, you can draw the funds here if you have a Paypal debit card,
Or - you can transfer from your Paypal account to the US based bank account that your Paypal account is linked to,
Or - you can transfer to the US based credit card that your Paypal account is linked to.

One also can do normal type credit card transactions through Paypal. I cannot remember at the moment which level of account one needs to qualify for, for this. Paypal has a virtual credit card terminal and you can put a credit card transaction through as if you were swiping a card through a credit card terminal. The customer does not have to have a Paypal account as this works like a normal credit card processor. This obviously works with the normal checks and balances and one has to have a good record with the banks and with Paypal to be able to use this virtual terminal.

The Paypal transaction software has developed really nicely and once you get over the hurdle of setting this all up, it works really slick.... I think the fees may be slighly higher than the usual credit card processing fees. If you process currency other than US dollars, they do kill you on the exchange rate.

To answer your last question, I think Paypal could work well for you. But, it does take a little energy and much patience to set up. Later today I can check up on the transactions fees and let you know how much these are.

A final note, there are other services as well that provide a similar service and could be cheaper and easier to work with in the DR. There are similar services that provide transactional ability in the DR. We settled on Paypal just because it is well known and most everyone knows how to use it.
 

Ken

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Jan 1, 2002
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Thanks, Chris. I found it doing a Google search and have received some info from them.

Re PayPal, do draw your funds with a debit card, must you have a US bank account?