Comments on: Israel PayPal accounts can now withdraw funds to Israeli bank accounts! Amen!

By: Charlie Kalech

Charlie Kalech — Sun, 03 Jul 2011 10:59:14 +0000

Paypal Israel (and other credit card processors) will be answering questions this Tuesday at a special event of the Jerusalem Web Professionals. For more info and to register see http://jwp.j-town.co.il/online-donations.php

By: Benji Lovitt

Benji Lovitt — Sat, 02 Jul 2011 07:03:21 +0000

Paypal Tweeted me yesterday that their check capture only supports USD. Darn.

By: Fred Schlomka

Fred Schlomka — Fri, 01 Jul 2011 18:07:01 +0000

Your US PayPal account cannot withdraw money to your Israeli bank account. You will need to open a new Israeli PayPal account, verified to your address in Israel, and your Israeli bank account.

By: Benji Lovitt

Benji Lovitt — Fri, 01 Jul 2011 15:43:11 +0000

Well, look what I found by Googling!

Miriam, I set up my account years ago from the US. Not sure what the ramifications are but when I clicked “Add Bank Account” (so I can deposit checks directly to my Leumi account thru my Paypal app on iphone), it’s asking for a routing #. I don’t even know if I have that here….is there a way to find out? Is this even possible?

THANK YOU!

By: shalom yakir

shalom yakir — Tue, 14 Jun 2011 08:14:00 +0000

I’m interested to learn how is Paypal actually operating in Israel. I will be very pleased in case you have some documentation that is possible to get through my email account. Unfortunately I don’t have an account in “Twitter”. Thank you very much in advance. Shalom Yakir, Israel.

By: eva nagy

eva nagy — Sun, 15 Aug 2010 18:09:14 +0000

Hi Hezi,

If you have opened your PayPal account in Israel, you should be able to withdraw to:

US bank account
Israeli bank account
Visa credit card

If your PayPal account you have is a US one (opened in US) you wouldn’t be able to add an Israeli bank account to that account. You’d be required to open a PayPal account in Israel (country of residence on your PayPal account is Israel).

Please also note that PayPal have now been offering for almost 2 months, customer service to its Israeli customer base. A very helpful team, situated in Dublin are ready to answer all your questions and queries. If required, Hebrew is spoken within the team.

You can contact the team by clicking on CONTACT US inside your PayPal account and you would be able to forward your questions either via email or phone.

Regards,
Eva

By: Hezi Sochat

Hezi Sochat — Thu, 12 Aug 2010 11:48:08 +0000

Hello All,
I have a paypal account which i opened 7 years ago
when you had to be a US citizen.
now i live in ISRAEL and i tryed to attached my ISRAELI bank account to my paypal account, but i can’t enter the correct details because it’s always reffer to US bank details.
i have balance in my paypal account and i can’t withdraw the money.
Help any one ?

By: Eva Nagy

Eva Nagy — Wed, 19 May 2010 09:30:28 +0000

Dear All,

I can confirm that PayPal are currently recruiting for Hebrew speakers in order to start up a customer support team for the Israeli market. Definite dates are not known yet, but the service may already kick off beginning of this summer. This should further improve their relationship with customers in Israel and provide some extra help for all of those in need. I have no additional details but I am sure that PayPal will take the necessary steps to notify the Israeli user community accordingly when the time comes.

By: David

David — Sat, 24 Apr 2010 11:48:51 +0000

Are there any updates as of April 2010?
Is PayPal service is Israel better now for independent businesspersons?

By: Sarah

Sarah — Thu, 14 Jan 2010 10:21:04 +0000

I have been using PayPal to make purchases online until now. My payments go through my foreign currency account, which takes money from my shekels account and thereby incurs exchange rates. What is the difference in this new plan? Is it only related to withdrawals? Does the account automatically change over, or do I have to arrange it?
Thanks,
Sarah

By: Uri

Uri — Fri, 08 Jan 2010 02:53:52 +0000

PayPal’s withdrawal system is theft. I thought the withdrawal is free, people payed my via PayPal, now I have to withdraw $3,500 US dollars into my bank account, and the exchange rate is 3.59063 shekels per dollar! I lose $128 or 3.66% of my money when I use PayPal. The 2.5% currency exchange fee Nissim Ohayon talks about is a scam! It’s not published on the website of PayPal.

By: Review of PayPal Israel Q&A Event with Nissim Ohayon | illuminea marketing and media

Tue, 22 Dec 2009 14:53:56 +0000

[...] not alone. No matter how many times we write it up and try to understand all the ins and outs, and jump for joy over new developments, we still have more questions. Ever since PayPal started paying attention to Israeli online [...]

By: Fred Schlomka

Fred Schlomka — Thu, 17 Dec 2009 15:59:52 +0000

Charlie -
my specific question is:

Why can’t we withdraw US dollars from our PayPal account in Israel?
Is it because -
A. The Israeli Government won’t allow it
B. It is technically not possible
C. PayPal would prefer to exchange the dollars into shekels in order to increase it’s profits though giving a below-market exchange rate.
D. Another reason

Thanks,
Fred

By: Charlie Kalech

Charlie Kalech — Thu, 17 Dec 2009 11:30:03 +0000

Fred,

Let me know if you have a specific question and I will be sure to get an answer for you

By: Fred Schlomka

Fred Schlomka — Thu, 17 Dec 2009 11:19:20 +0000

This business of PayPal only allowing withdrawals in the currency of the destination country is a bit of a scam. They are making huge amounts of money on the terrible exchange rates they offer. There’s absolutely no technical or legal reason why any currency in your PayPal account cannot be withdrawn to a bank in Israel.

Unfortunately I cannot come to teh evening with PayPal but I would be interested to hear what PayPal’s Senior Business Development Manager in Israel, Nissim Yves Ohayon, has to say about the currency withdrawal issue.

By: Charlie Kalech

Charlie Kalech — Wed, 16 Dec 2009 10:48:02 +0000

Thanks Gidon for your suggestion. Here is the result:

A Night with PayPal

Represented by PayPal’s Israeli Senior Business Development Manager, Nissim Yves Ohayon
Get an Update and Have All your Questions Answered from the Source

NIS 40 in advance with online registration
NIS 50 At the Door – Conditional on Limited Space Availability.
Paypal recently began supporting payments in New Israeli Shekels and as well as money transfers to Israeli banks. However, there are still numerous services they do not support in Israel. Come get an update on what Paypal is doing in Israel and where it is headed. Get your questions answered directly from PayPal’s Senior Business Development Manager in Israel, Nissim Yves Ohayon.

The night will include important updates for site owners and developers including services offered in Israel, tips about how to manage your account for the best seller and buyer experience.

You will also learn about the recent launch of the PayPal X Developer Platform. In particular, we will discuss how Web Applications Developers can leverage the Adaptive Payments APIs, and give some examples of applications that have been created using this set of APIs.

Get a preview of PayPal’s Channel Partner Program which will be launched soon. This program can help you get tools and support geared towards Web professionals.

Monday, December 21, 2009
20:00
JBS Technical Communications Services
Hatasiya 8 Street, Industrial Area of Talpiot
Directions

Space is Limited.

Pre-register at http://jwp.j-town.co.il to secure your place and receive your discount

By: Dr. Nili Marcia

Dr. Nili Marcia — Sat, 05 Dec 2009 23:32:42 +0000

Thank you Miriam for this post. It and the answers to comments have been very helpful. I’m pleased that I saved your announcement about this post and waited until today to read it all as all my questions have now been answered in one fell swoop.

By: Nissim Ohayon

Nissim Ohayon — Wed, 02 Dec 2009 14:58:31 +0000

Great post and comments everyone. I will try to answer you all here…

@Marina Shemesh asked:
“How secure is it to put your bank account details online?”
It is a good question to ask as you don’t want to be sharing your bank or other personal and/or financial details with just anyone. Therefore, who CAN you trust with these details? At PayPal we work very hard to ensure that you will always feel secure in sharing such details with us, especially when it means that sharing them with us, means that you won’t need to share them with anyone else that you use PayPal to pay with. Miriam’s answer above is very good advice too.

“Does one still have to have a Visa card connected to the chosen bank account?”
You will need a credit card (Visa, MasterCard or Amex) in order to use your account to make payments. A Visa card is no longer required as a means for withdawal however.

@Gidon asked:
“What rate of exchange would the transfer be?”
There is a currency exchange fee of 2.5% above our bank rate that will be deducted in the course of the withdrawal.

@Tony asked:
“Is it possible to deposit money from my israeli bank acct into my paypal bank account?”
No. At this time, we can only support funds going from PayPal to an Israeli bank account, but not the other way around.

@ Fred Schlomka asked:
“can I transfer a PayPal dollar balance IN DOLLARS to my Israel Bank account.”
No. PayPal balances are always withdrawn in the currency of the destination country, regardless of the currency of the account. You can still withdraw in USD if you have a bank account in the US.

@Gidon also asked:
“Can one of the networking groups in Jerusalem invite Nissim Ohayon (or is it Oded Zehavi?)”
Either one of us would be pleased to speak.

By: Gidon

Gidon — Tue, 24 Nov 2009 06:27:02 +0000

On the one hand, PayPal is great, I am a very satisfied user.
OTOH, there are some issues that people just can’t get their heads around about it.
Can one of the networking groups in Jerusalem invite Nissim Ohayon (or is it Oded Zehavi?) for a presentation and Q&A, to clear things up once and for all?

By: Fred Schlomka

Fred Schlomka — Tue, 24 Nov 2009 04:45:24 +0000

OK, I set up the Bank account with PayPal. It is also interesting to note that the same account can also be inked to a US Bank account, thus enabling international bank to bank transfers via PayPal.

However it is unclear whether I can transfer a PayPal dollar balance IN DOLLARS to my Israel Bank account. Or does PayPal transfer in shekels only with resulting huge exchange losses? Anyone know?
Thanks
Fred