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Posted by ruby on August 14th, 2008 in Blogging / Marketing

This tutorial is for those bloggers or internet people living in the Philippines.

Early 2008, paypal allowed withdrawals to local banks in the Philippines and this was received by Filipino bloggers with tears of jubilation. Payments you receive in your paypal.com account (in USD) will be converted to pesos in paypal and then sent to your local Peso savings account as “remittance”.

Note: Most local banks will not be familiar with paypal, so my tip is to say “remittance sent through email” rather than “paypal” if you have to inquire about it. Just tell them it’s from an internet-accessible bank based in the US, if they ask from what country. When you withdraw to your bank account, an email gets sent from paypal to the bank and they will either call you to confirm if you’re expecting remittance, or it will simply appear in your transaction record/atm.

How To Get a Paypal Account

I. Link Your Credit Card (CC, If you have one) -  The whole process is easy if you already have a credit card. You will need to input your card number, the name exactly on the card (this should also be the name you have on your bank account), and the 3 digit number at the back of your card.

• Your CC must not be expired because they will charge a fee (less than 200 pesos) from the card and this will appear on your next CC bill, together with a confirmation code, which will be needed to complete your Paypal Verification.

• Paypal will also deduct money from your CC if you buy something online and your paypal balance is not enough to pay for your purchase.

2. If you don’t have a CC, you need to have a Union Bank EON card - Application for a new card takes 3 weeks at Union Bank so this is a lot more hassling. This is not a savings account, but a prepaid account. You will pay 350 pesos for annual membership, and will have to deposit at least 200-300 pesos so that Paypal can deduct their fee from your card.

Because I used a CC to set up my paypal, the EON card process is not too familiar. Kindly proceed to this article for a more detailed explanation on the EON process. Click this source.

3. WITHDRAWING money - This is the last and most exciting part of having a paypal account and making money online. Your maximum daily withdrawal will be 500 USD (for a premier account).

• Personal vs. Premier Accounts - You start out with a Personal account then upgrade to a Premier account (upgrade is free). Why upgrade? There are a lot of reasons and you will find out when you visit the site, but the most relevant to my business online is .. A Premier account can accept unlimited number of payments from other users.

When you withrdaw money to your Philippine Peso Savings Account, they will ask for your

1. bank account number
2. bank account name
3. bank code, can be viewed in this ebay page

Important:

• When you finish withdrawing money to your Savings account, the amount will only appear in your ATM/Passbook after 7 days, even if paypal transaction history says “completed”.

• If you made a single mistake , like in your Savings account number, the money will go back to paypal (after another 7 days) and you will be charged by your local bank (250 pesos) for that mistake…. so be careful!

HAPPY EARNING!!!!