Author Topic: anyone here use paypal for receiving cash?  (Read 1047 times)

Offline goma

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anyone here use paypal for receiving cash?
« on: August 11, 2008, 11:19:18 PM »
what local bank works best with paypal, the one with the least amount of surcharges? I found out that paypal now allows sending and receiving for the philippines and I'm thinking of getting an account, primarily for money coming in.

Here's one link that has good info...

http://www.pinoymoneytalk.com/2006/10/12/how-to-open-a-paypal-philippines-account-limited-but-legal-account/

Offline barurutor

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Re: anyone here use paypal for receiving cash?
« Reply #1 on: August 11, 2008, 11:44:27 PM »
jtrutan posted about his experience withdrawing from his paypal account to his local bank account in one of the other paypal threads (do a search).
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Offline jtrutan

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Re: anyone here use paypal for receiving cash?
« Reply #2 on: August 12, 2008, 12:05:58 AM »
Open an EON account at UNIONBANK.

I applied for mine online. here

While other banks levy a surcharge. withdrawing funds to your EON account is free. But you do lose about 2% from the currency conversion.
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Offline goma

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Re: anyone here use paypal for receiving cash?
« Reply #3 on: August 12, 2008, 12:20:35 AM »
yeah I've heard that EON accounts work well with paypal. after signing up and registering with a credit card, how long will it take to be able to allow funds to be recieved?

Offline jtrutan

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Re: anyone here use paypal for receiving cash?
« Reply #4 on: August 12, 2008, 01:04:44 AM »
As soon as your account is active you can start withdrawing paypal funds to it.

When you go pick up your debit card at the bank, make sure you deposit P100 to your account to activate it.
(Don't ask. I forget why. But I remember having to make a second trip to the bank to do this.)

Another cool thing, you can withdraw funds from your EON account over a Megalink ATM.
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Offline nitsuj

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Re: anyone here use paypal for receiving cash?
« Reply #5 on: August 12, 2008, 10:35:23 PM »
yup, you hafta to deposit some cash to your account, for PayPal verification.

http://www.unionbankph.com/content.asp-paramID=AMBLAGZZZZ.htm

ang isa pang maganda sa EON, walang minimum! :D

pero pwede din BPI banks for withdrawing

http://thoughtsinbinary.com/?p=303

Offline i2mp

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Re: anyone here use paypal for receiving cash?
« Reply #6 on: August 13, 2008, 02:06:05 AM »
Open an EON account at UNIONBANK.

I applied for mine online. here

While other banks levy a surcharge. withdrawing funds to your EON account is free. But you do lose about 2% from the currency conversion.

so if withdrawing is free, puwede ba ito gamitin for remittance like if i have a bank account in the Phil. na gusto ko lagyan ng funds from here? what do you mean by loosing 2%? 2% of the entire amount that you transfer from paypal to your local bank? hmmm, mukhang malaki yun ah kapag malaki yung i-ta-transfer mo. pero kung below $400 lang ang ililipat mas cheaper yun sa remittance fee which is usually $7.
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Offline nitsuj

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Re: anyone here use paypal for receiving cash?
« Reply #7 on: August 13, 2008, 02:20:09 AM »
yeah pwedeng gamitin as remittance...

PayPal fees:

https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-withdrawal-fees-outside&dispatch=5885d80a13c0db1f80512b0980fcab74f8f86a7539c796f1ab7d42731da209a2

https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside

maganda lang kasi sa PayPal, online lahat at diretso sa Bank Account kung gagamitin mo as remittance (kumpara sa door to door) hindi ko lang alam paano yung proseso/fees sa ibang remittance companies... Western Union is expensive.  :mellow:

Offline i2mp

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Re: anyone here use paypal for receiving cash?
« Reply #8 on: August 13, 2008, 02:45:09 AM »
$7 yung sa PNB, dollar to peso account sa PNB branch sa pinas. mas mahal kung dollar to dollar account or dollar to other banks not PNB.
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Offline bryanariate

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Re: anyone here use paypal for receiving cash?
« Reply #9 on: November 15, 2016, 06:50:12 PM »
50 pesos lang charge ni EON kapag below 7k ata yung iwiwithdraw mo from Paypal. Above 7k, free na.