Many Filipinos who work and do business online choose PayPal as payment gateway. I personally accept and receive earnings through PayPal with my home based job and online business. PayPal is really easy to use and anyone can get started in no time. It’s proven safe and it keeps getting better.
PayPal can be used whenever you’re shopping online or transacting payments with clients and customers. It’s much safer compared than simply using your credit card details everytime. PayPal gives you a layer of security for your personal information by keeping your credit card information private.
You can also fund your PayPal account with multiple fund sources such as multiple credit cards, debit cards, and bank accounts.
Your source of funds will depend on the order you define in your account’s settings. You don’t always need to input your card information when testing which card has funds. PayPal will handle these things for you.
Currently, there are about 218 million active PayPal users all around the globe and the number keeps on increasing. More businesses are also adding PayPal as payment option for their transactions. If you want to keep in touch with the trend, better start now or you will be left out.
In a matter of minutes you can actually start using PayPal. To get started, here’s how to create and setup a PayPal account in Philippines this 2018.
To open up a PayPal account, you need to go to their website at paypal.com and hit the Sign Up button just like what is shown below. You need to enter your email address and create a strong password so you won’t easily get hacked.
Fill out the form with the needed information such as name, phone number, and address. Entering your bank account information is needed to be able to transfer funds with different accounts. Paypal will send you an activation email so you can get started doing transactions.
For more detailed process such as credit card, debit card, or bank linking, read more below.
2. Start Creating Paypal Account
You can register an account by either going through PayPal’s website or by downloading the PayPal App. There’s no difference whether you open an account through the site or the app.
To help you navigate, you can get to their website by clicking here. You will be prompted to choose between two options where you will be using your account for.
Personal accounts are recommended for those people whose main objective is to shop and do payments online. Things you buy via PayPal will be covered by their Buyer Protection program. You can start with this type of account if you just simply want to do basic transactions with PayPal. You can upgrade later on with their program if you feel the need to do so.
If you’re a merchant who do business and will primarily use the account for receiving payments, this is for you. You just need to fill out more details in opening a business type of account. Once you establish a good selling history with this account, you’ll have a smooth transaction in withdrawing your money.
So that’s basically the two types of account you can create with paypal. You just need to fill out all the forms, proceed, and click Agree and Create Account.
Make sure to double check everything you input on the form specially the password you’re going to use. Just make sure all the details you will input are legitimate information.
You will also need either an SSS, Driver’s license, or Passport ID to pass through the registration.
3. Credit Card / Debit Card Linking
You will be prompted to link your credit or debit card after filling out the personal information form. Entering a credit car or debit card will immediately enable you to use your PayPal. If you don’t have a readily available card, you can skip this by hitting “I’ll do it later” link.
I personally use credit card from BDO and BPI to link to my PayPal. Don’t worry, if you don’t have any credit cards, you can use any ePrepaid Card from BPI.
I personally used the ePrepaid Mastercard equivalent when I was just starting using my PayPal Account. It’s got 100% approval and it only takes couple of days processing. I recommend you to give it a try.
4. Email Verification and Account Activation
Once you’re done with all the information in the account registration process, you’ll receive an email from PayPal to verify and activate your account.
You are now ready to go and can start doing transactions. Shopping is now possible anywhere online with e-commerce sites that accept PayPal as payment gateway. You can also start sending money to your loved ones through their verified PayPal email.
You can also receive payments from anybody with PayPal account. Just tell them your PayPal email where they can send the money and that’s it!
PayPal enabled me to do a lot of my monetary transactions online. I use it to pay services for outsourced works, shop online, and send money to my relatives. I also use it in receiving affiliate earnings from my blogs.
PayPal is safe. Trust me, it is. I’ve been using it for about 4 years now and everything went smooth so far. If you still don’t have your PayPal account, you are being left out in the trend.
Withdraw Money From PayPal Account to Bank in Philippines
One question most people ask is how to get their money from PayPal and transfer it to their bank. Here’s a simple guide on PayPal withdrawal process.
Most people want to withdraw funds either to their BPI or BDO bank accounts. To configure your account, go ahead to the “Wallet” tab of your PayPal account just like what is shown below.
Click on the “Link a bank account”. You will be redirected to this page where you need to input your Bank Account Name, Bank Name, Bank Code, and Bank Account Number. Here are the respective bank codes for most commonly used banks in the Philippines linked with PayPal:
|BANK NAME||BANK CODE|
|BANCO DE ORO (BDO)||10530667|
|BANK OF THE PHILIPPINE ISLANDS (BPI)||10040018|
|METROPOLITAN BANK & TRUST CO. (METROBANK)||10269996|
|UNION BANK OF THE PHILIPPINES (UBP)||10419995|
Make sure to double check everything you input on your bank account settings. PayPal will charge you P250.00 PHP return fee if you happen to withdraw using an invalid bank account information.
Request To Withdraw Money from PayPal
Once you properly configured your bank account, you can now withdraw money from PayPal to your chosen bank account. To withdraw, just click the “Withdraw funds” link.
You will be redirected to a page where you can input the amount you wish to transfer to your bank account. Next is to select which bank to use for the transaction. Hit continue once you are done.
Make sure to review everything before submitting your request. Remember that PayPal charges withdrawal fees and also return fees whenever you have incorrect withdrawal details.
Once everything is okay, you can now submit your request.
You can check your Transaction History for pending and completed requests. Usually, funds transfer takes around 2-4 banking days before you can get your money.
Withdrawal fees usually depend on your chosen bank account. The bank charges are usually P150 for BPI and P200 for BDO.
That’s it! I hope to hear from you guys that you just opened your very own PayPal account. If you got questions, just ask it on the comment section below. I hope I helped you in some way somehow. Bye for now! Ching~
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