The time I heard about this new feature on Paypal Philippines to add or withdraw to a local bank account, I immediately check and add my bank account and tried to withdraw the funds sitting on my paypal account. All I need was my bank account information including bank code that was posted by paypal on ebay site here (philippines bank codes). And more information here.
After 5 days of waiting to my bank, finally it arrived.
Length: 2 days -Paypal Philippines said that my withdrawal process is complete. Means fund depends now on the processing on my bank to clear it.
3 days - Funds now in my account with Payroll as the memo on the deposit.
Paypal charges 50 Php or around $1.2 on withdrawal fees below Php 7,000. My bank also charges around 100 Php total of 150 Php. I see it quite fast and cheaper also compared to other option like xoom, where I regularly using. Wondering the boost of e-commerce here in the Philippines with this move from Paypal.
9 Comments Received
February 6th, 2008 @9:24 am
I am from India. Here if we have more than 7000 in account then we can transfer money from the paypal, without any fee that they are going to charge.
February 6th, 2008 @11:39 pm
congrats.. me am still waiting for the funds to reflect in my bank account. its completed na but not reflected in my account..
February 7th, 2008 @11:36 am
@nithin,
how much is that in terms of USD?
@lady,
thanks for visiting, normally if you withdraw on thursday at paypal, it will be reflected on your bank account at wednesday.
February 8th, 2008 @11:58 pm
good thing, paypal is expanding its business line to other countries too
February 9th, 2008 @9:43 am
very interesting. i’m adding in RSS Reader
February 18th, 2008 @9:28 pm
HI, since that is the case that they are expanding, why is there no such thing in Nigeria.Its not fair considering the magnaanimity of that country.
February 20th, 2008 @8:51 pm
I asked a question for a while now and yet uptill now , i havent gotten any answer yet, what is happening here . Somebody shuld talk to me
February 20th, 2008 @11:28 pm
@chucks
I am not in good faith to answer your question, what I will provide is based on my own perception.
1. Financial institutions that will support Paypal to the country.
2. Fraud (basically the reason) remember Nigerian Scams?
better yet, contact paypal and see how it goes.
March 13th, 2008 @10:01 am
hey chuks ugoji first of all paypal aint noob , why the hell u think that ur country is greater than PH!! stop dreaming man!
sorry man, have to edit your post, don’t take it too general, nigeria is a good place too and there are also lots of people that are nice. –admin
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