PayPal in the Philippines
I received a long-awaited email today from the folks at PayPal that would finally serve to encourage Filipinos to use their secure e-payment facility:
New Withdrawal & Receiving features are now available!
Withdraw Funds to Your Debit or Credit Card We’re pleased to announce the launch of a new
withdrawal feature, allowing you to transfer funds from your PayPal account to your Visa branded
debit card or credit card1. Learn how to get convenient access to your funds now.
Receive Money in Indonesia & the Philippines In addition to the existing sending money capabilities and
the new withdrawal features, registered members in the Philippines and Indonesia can now receive funds from 190 markets and 17 currencies.
Important: You’ll need to be a verified member to use the new withdrawal feature. Learn about verification (known as the Expanded Use Program).
I used to think it pretty useless to use my PayPal membership in the past if, like the rest of my countrymen, I would be allowed to receive but not withdraw the income therefrom, and be merely forced to use these funds to purchase other items, again via PayPal, on the internet.
The eligibility to physically withdraw funds to a Visa credit/debit card may vary based on the issuing banks guidelines and regulations. If this feature is not allowed by your issuing bank, this process still serves to keep the money in a 3rd party’s hands and not in your savings account, but at least the money can be used for offline purchases. So it is suggested that you check your card by making a sample withdrawal to see if you can get your hands on the money in cash.
Now, I am one of those Filipinos who steadfastly refuses to own a credit card. But a debit card is acceptable to me, as I will not spend money that I do not possess. Securing a Visa debit card for Paypal payment purposes is perfectly fine with me.
You do not own a Visa credit or debit card? There are many of those offering credit cards online, so check them all out to see if they offer a withdrawal feature. Good luck, Filipino entrepreneurs on the web!
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