Using eBay in the Philippines using Paypal and yet unable to withdraw funds from your own bank accounts? The news is already here with the opening up of Paypal allowing your funds to be withdrawn from your bank accounts.
There used to be a time when Paypal wasn't allowed in the country due to incidents of fraud (committed mostly by foreigners), then opened it up for one-way outgoing transactions, later opened up receiving payments but only through credit cards and lately this news.
To initiate funds withdrawal, login to your Paypal account, click My Account ==> Withdraw page. You then need to have a credit card (VISA or Mastercard) or EON debit card from Unionbank to verify your account. After verification, you have the option directly transfer funds to your bank account by entering your bank, Philippine Bank Code for your bank account to be linked and you're all set.
Paypal "promised" withdrawal transactions to be processed within 5-7 business days.
No charge if transaction amount is equal to or more than PhP7,000. Transaction fee of PhP50.00 fee if amount less than PhP7000.00.
Be careful in entering details since a charge of PhP250.00 return fee for incorrect information.
Now, Tutubi is really keen on opening an online store and use Paypal to accept payments :P
Related Posts:
Philippines Bank Code List
ATM Charges and Transaction Fees in the Philippines
Salamat talaga sa Paypal. I believe nakikita nila na so many Filipinos are using Paypal already and are using it in legitimate business transactions talaga :)
ReplyDelete