I just read the good news from Pinoy Entrecards. It is now possible to withdraw your Paypal balance (minimum of $10.00 USD) to any Philippine or Indonesian bank account.
This feature was recently opened by Paypal to its Filipino and Indonesian merchants and members.
eBay’s online payment division and the global leader in online payments, PayPal, has added a new withdrawal feature for its Philippine and Indonesian members, allowing them to conveniently withdraw funds from their PayPal accounts to their local bank accounts.
A step-by-step procedure on how to withdraw funds from your Paypal account is found here.
Previously, I had to use my aunt’s credit card and my mom’s GSIS e-Card Plus to withdraw funds from my Paypal account. With this new development, I can now directly transfer money to my own Land Bank account.
You still have to verify your Paypal account, which means you still need a credit or a debit card for verification before you can avail this feature.
For Philippines users, withdrawals equal or more than PHP 7,000 are free. For withdrawal amounts of less than PHP 7,000, there will be a fee of PHP 50. For Indonesian users, withdrawals of IDR 1.5 million or more are free. For withdrawal amounts of less than IDR 1.5 million, there will be a fee of IDR 16,000.
I hope that next time, Filipino and Indonesian users can add funds to their Paypal directly from their bank accounts.
Tags: Business, Credit card, Debit card, EBay, Financial Services, Internet, Payment, PayPal, Philippine, Technology
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Feb 2, 2008 at 13:02:04
Just a heads up. click here >>>> Successful Withdrawal From PayPal To Philippine Bank Accounts
It’s fast and no charge or deductions.
Feb 2, 2008 at 19:40:05
But if it’s below Php7,000.00 they charge 50 pesos however much cheaper than the $5/transaction using debit cards. This will really help a lot of netrepreneurs.