Online payments company PayPal Inc. today announced that, as of today, Israeli subscribers can transfer money directly from their PayPal accounts to their Israeli bank accounts.
Until now, Israeli PayPal subscribers had to open an account with an international credit card, but could not withdraw money accumulated in their account because PayPal did not have an agreement with Israel's commercial banks.
PayPal currently operates in 190 countries and in 24 currencies, including the shekel. PayPal says that withdrawals of less than NIS 1,000 incurs a fee of NIS 8, but withdrawals of larger amounts are free.
PayPal Israel and South Africa manager Oded Zahavi said, "PayPal is committed to the Israeli market and the needs of local customers. More than a year ago, we included shekel payment and transfer options. We continue to expand our services, with potions to transfer money directly to any local bank account, making it easier to manage a business or receive or send money to family and friends via PayPal."
Published by Globes [online], Israel business news - www.globes-online.com - on November 16, 2009
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