PayPal is known to be one of the most useful platforms for receiving payments, online purchasing, paying for services, etc. Latinoamerica is known to be hard to adapt to new technologies and PayPal isn’t the exception, however, there is a way to get your funds from PayPal into your chilean bank account.
The name is Multicaja
Retiros Multicaja charges a service fee of 0.5% of the amount received, the minimum being US$10. Funds can be withdrawn in Chilean pesos in five business days. Transfers must be verified to avoid fraud. Yes, unfortunately, that means you need to have a Chilean bank account. A CuentaRUT works, however, which is usually the first bank account expats get once you receive your temporary visa. Â This is at the moment the only direct way you can get money out in pesos through PayPal. As soon as another method pops up, we’ll make sure to keep you posted.
Another easier way to get your money out of paypal with low fees if you are from the US is to simply open up a bank account at Charles Schwab and receive a debt card with international ATM full fee reimbursements! Then link your paypal to your schwab account and pull the money out at any ATM in Chile and deposit it to your Chilean checking account. Simple and no fees!
