What is a virtual Paypal Account?
At Paypal company, virtual Paypal account is not an official phrase which exists, the word virtual is only used when talking about Virtual Terminal. It comes as a surprise to many people when i tell them that Virtual Paypal account is a term used casually by individuals or companies which deal in Paypal consultancy services ( people who create Paypal accounts for others, withdrawing Paypal funds, helping people on Paypal restrictions).
Virtual Paypal Account is a term coined by Webvator in 2019, to mean accounts created using a different country with no restrictions to work for a person, organization or company in a country restricted by PayPal for purpose of receiving money internationally.
For example, if a person called Derrick stays in a restricted country like Namibia. Namibia paypal accounts can only send but can’t receive, and i set up for Derrick a paypal account as a south africa paypal account . That paypal account can receive and derrick can use it in Namibia to receive payments even-if his country can’t receive.
This account created is called virtual paypal account. its created as a South african Paypal account to be used by a person from a restricted country. when a payment is set to derrick’s paypal email, the payment will reflect in his account though the challenge will be , derrick cant withdraw that money to his Namibia bank account.
How to withdraw money from Virtual Paypal account?
Having a virtual paypal account doesn’t remove the fact that your country banks can’t receive from PayPal so to withdraw from the Paypal the money received, you may consider the options below;
Withdraw option one(1): Create a Virtual USA Bank Account.
Link this account to your PayPal account and withdraw funds to it. Once the money is in your virtual bank account, you can transfer it to your local bank or use services like SendWave or WorldRemit to send funds from the Virtual USA bank account to your country.
Withdraw option two(2): Utilize a Bank Account from a Neighboring Country.
Create a bank account in a neighboring country supported by PayPal. For instance, Ugandans may create Equity Bank Kenya accounts to facilitate PayPal withdrawals. Funds can be accessed through an ATM card or transferred to a local bank.
You can create a bank account from a neighboring country supported by Paypal and you withdraw money with that bank. e.g in Uganda, Ugandans got to Kenya and create equity kenya bank accounts to use them to withdraw from paypal. when money is in Equity bank kenya, an ATM card can be used to withdraw that money in Uganda or u can push funds from your kenya equity bank to Uganda equity bank. Alternately kenya Mpesa mobile money can also receive directly from Paypal, so most Ugandas usually register for Safaricom lines and use them in Uganda
In Nambia, getting a bank account in south africa can help you in this case, then u can access those funds in your country since bank cads work internationally
Withdraw option one(3): Sell PayPal Funds to Agents. You can sell your Paypal dollars to “Paypal agents”. These are people who buy your dollars and send you mobile money or give you cash for the dollars. The exchange rate differs for each person but you have to be careful on who you trasact with. In this option, you send money to “Paypal agent” Paypal account (email address) and Paypal agent sends you agreed money to your bank or mobile money or you go pick up the amount if your near him.
Not every country has these so called “Paypal agents” but this business is common in Uganda and Kenya mainly.
If you need someone who can buy your Paypal funds, you can contact us, we will be glad to help.
Note: this is a business and commission fees apply
For other options on how to withdraw money from Paypal, click here
If your interested in getting a virtual Paypal account, contact us on whatsapp or call numbers on our website
Is there a difference between Virtual Paypal account and Virtual Terminal?
Yes Virtual Paypal account is is an unofficial phrase used to mean having a paypal account created using a different supported country with intention to be used in a restricted country to be able to receive whereas PayPal’s Virtual Terminal is a web-based application that processes credit and debit cards, replacing swipe machines.
