Paypal New Zealand Bank Account

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Forums › Finance and wealth management › Paypal New Zealand Bank Account

Aaroona

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#76267 31-Jan-2011 21:29

How on earth am I meant to withdraw my money from Paypal to my NZ bank account.

Kiwi bank gave me a swift code number etc, but I can't even enter my full bank account number, let alone work out which field to enter the swift code into.

PLEASE HELP, I am literally ripping my hair out. Paypal are useless as far as providing helpful information about this. Doesnt help their stupid customer service line is only open at abnormal times!

Kyanar

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#433424 31-Jan-2011 21:42

PayPal wants a regular bank account number, not SWIFT routing details - they contract a local company to deposit on their behalf (so you don't incur wire fees, etc).

Bank number will be your bank and branch number (the first 2 blocks of numbers - should be something like 12-1234. Don't enter the dashes!)

Account number will be the account number and suffix - WITH the dash. Most banks give you a three digit suffix - use ONLY the last two digits (if it's 025, your suffix is 25).

Basically, if your account number is 12-1234-0123456-000, you'd enter it as bank number "121234", account number "0123456-00".

Aaroona

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#433430 31-Jan-2011 21:52

Ignore this post. Had I read your post correctly, I would have actually answered my own question.

Thanks so much for the help.

freitasm

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#433451 31-Jan-2011 22:25

And that's all you need to know...

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Chainsaw

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#433634 1-Feb-2011 12:16

I too had problems and lost some money to Paypal trying to figure out their bank account numbering system, and the two times it failed they keep some of your money!

Then realised they have a different way of putting the numbers than is customary here, and it's all working! Yay!

Aaroona

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#433805 1-Feb-2011 17:35

Kyanar: PayPal wants a regular bank account number, not SWIFT routing details - they contract a local company to deposit on their behalf (so you don't incur wire fees, etc).

Bank number will be your bank and branch number (the first 2 blocks of numbers - should be something like 12-1234. Don't enter the dashes!)

Account number will be the account number and suffix - WITH the dash. Most banks give you a three digit suffix - use ONLY the last two digits (if it's 025, your suffix is 25).

Basically, if your account number is 12-1234-0123456-000, you'd enter it as bank number "121234", account number "0123456-00".

Thank you so very much. I am all set-up and ready to go! Money is being transferred as we speak according to an email I got today from PayPal.

freitasm: And that's all you need to know...

I hope so.. Had I not got that reply last night, I'd say I wouldnt have slept much.

I'm one of those people that must work it out in order to function! :P

Normally if it was for something like $20-30 I wouldn't worry, and just use it. But it was a little more than that.
Plus, it's good to have it setup for next time if I ever need it.

Chainsaw: I too had problems and lost some money to Paypal trying to figure out their bank account numbering system, and the two times it failed they keep some of your money!

Then realised they have a different way of putting the numbers than is customary here, and it's all working! Yay!

Well hopefully mine won't fail! I have got mine setup a little differently (because when I setup the paypal account, I wasnt of legal age and debit cards hadn't been released, so I used my parents credit card. Being the first credit card registered with the account, it used that name on the credit card to associate with the account) so I cant actually just transfer the money to my account now, I have to transfer it to my parents account, then they transfer it to me.
Once it's all done, I will create a new account, because it's totally inefficent. I just hope I can use the same email address (just change the one on the account now to my parents one).

johnzoet

19 posts

Geek

#445256 3-Mar-2011 19:12

Step 1) Create a Paypal account
Step 2)
Login to your Paypal account
Step 3)
Assign a bank account to your Paypal account
Only required if you need to withdraw funds
Step 4)
Assign one or more credit cards to your Paypal account

All information is available when you login to your Paypal account.

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Aaroona

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#445261 3-Mar-2011 19:30

A. You dug up an old-already solved post, for no reason.

b. They don't tell you the way to decode your account numbers.