PayPal, which was established in 1998 and is accessible in 202 countries and has more than 270 million active accounts, is the world's leading online payment system.
When PayPal first became available in the Philippines in 2008, I was the first person to use it. Since then, I have used PayPal for a lot of online transactions, like paying for eBay purchases, taking money from freelance clients, giving to good causes, and withdrawing money from my Unionbank ATM card. Since it is so integral to my online life, it would be difficult for me to make money online without PayPal. ,'_com-medrectangle-3','ezslot_5',191,,_('div-gpt-ad-_com-medrectangle-3-0');
PayPal can still be used to make purchases from online shopping websites, even if, like me, you don't want to make money online. A debit or credit card is not required; You only need to have a PayPal account and enough money to cover the cost of the item.
Therefore, let's get into the specifics of setting up your PayPal account so that you can instantly send and receive money. Don't worry if you don't yet have any extra cash in your bank account because signing up for an account is completely free.
Table of ContentsPayPal Account VerificationConfirming Your Card and Verifying Your PayPal AccountHow to Withdraw Money From PayPal to Your Bank AccountPayPal Withdrawal FeesFunding Your PayPal AccountHow to Use PayPalPaying for Online PurchasesSending and Requesting MoneyFreelancing and Online JobsConclusionHow to Sign Up for PayPal Step 1: Go to PayPal's website. At the top right of the page, click the ""Sign Up"" button. 300,250], ""_com-medrectangle-4,"" ""ezslot_6,"" 192,"" ""div-gpt-ad-_com-medrectangle-4-0"");
Step 2: To create a personal account, select ""Buy with PayPal."" Choose the alternative if you want to open a business account. Select ""Next.""
Step 3: Enter your email address, first and middle names, country (the Philippines is selected by default), and personal information. Choose a password that is at least 20 characters long and difficult to guess.
To continue with the registration, select ""Next.""
Step 4: Include your address, mobile phone number, birth date, and ID type and number. You can choose a national ID (such as UMID) or a passport for the ID.
Select ""I confirm that I have read, consented, and agreed to PayPal's User Agreement and Privacy Statement..."" ('_com-box-4','ezslot_7',193);
When you're done, click ""Agree and create account.""
Step 5: Congratulations! Your account is now up and running. To proceed to the following page, select ""Get Started.""
Step 6: You can choose to link your credit or debit card right away. Click ""I'll do it later"" if you don't want to link your card yet or don't have one.
There will be a security problem for you to solve. To continue, solve it.
To continue to your PayPal account, click ""Go to your account"" on the following page. 300,250],'_com-banner-1',);
Important: Look in your email for the PayPal activation email. Click the link in the email to confirm your identity.
In addition, you should activate two-step verification for additional security and confirm your mobile phone number so that you can recover your password in the event that you forget it. This is completely optional, but some people might find it useful.
How to Connect Your Credit or Debit Card to PayPal Connecting your credit or debit card to PayPal ensures the safety of your card information while enabling you to send money or make purchases with your card. You can use PayPal to buy or pay for something with your Visa, MasterCard, or any other credit or debit card without giving out your card information. PayPal will simply charge your linked credit or debit card for the transaction.
Step 1: Click ""Link a card"" on the summary page of your account. Simply select ""Wallet"" from the top menu bar if there is no such link on the account summary page because you have already linked your bank account.
Step 2: Choose ""Link a credit card.""
Step 3: Enter your security code, card type, expiration date, and credit/debit card number (this field will be filled in automatically). The number on the back of your credit or debit card is the security code.
Verify everything once more to ensure accuracy. To continue, select ""Link Card.""
Step 4: Congratulations! Your credit card is now connected to PayPal. PayPal now lets you pay for your online shopping and purchases with your credit or debit card.
How to Connect PayPal to Your Bank By connecting PayPal to your bank account, you can send money to your bank.,,_;
Step 1: Click ""Link a card"" on the summary page of your account. Simply select ""Wallet"" from the top menu bar if there is no such link on the account summary page.
Step 2: Select ""Connect a bank account.""
Step 3: Enter information about your bank account, such as:
Bank code (click here for a list of bank codes) Account number (this is your bank account number, not your credit card number) We have compiled a list of PayPal bank codes that correspond to your bank. Type in the name of the bank and PayPal will provide suggestions. Banco de Oro Unibank's bank code in this example is 10530667.
In any case, PayPal will provide the appropriate code based on your bank for you without you having to enter it.
To avoid additional fees, check that your bank information and name match your bank account. To proceed, click ""Link Your Bank."" '',_('div-gpt-ad--0');
Step 4: The success of the linking will be displayed on the following page. To complete the process, select ""Done.""
Congratulations! PayPal has successfully linked to your bank account. You can now begin transferring funds to your bank account from PayPal.
Verification of Your PayPal Account You must verify your PayPal account in order to lift withdrawal limits and transfer funds to your bank account from PayPal. New accounts have limits on how much money they can withdraw in an effort to cut down on fraudulent transactions caused by unauthorized bank account use and stolen credit cards.
You can transfer an unlimited amount of money to your bank from verified accounts because there are no withdrawal limits like there are for bank accounts. Credit and debit cards have a $500 or 25,000 daily withdrawal limit.'_com-large-mobile-banner-2','ezslot_15',198,,_('-2-0');
There are no sending limits for either verified or unverified accounts.
Link and confirm your credit or debit card with PayPal to increase your withdrawal limits. I'll show you how to verify your credit or debit card in the next step to get verified and increase your withdrawal limits.
Confirming Your Debit or Credit Card and Verifying Your PayPal Account On the Wallet page, you'll find a link to confirm your card. To begin, select ""Confirm your card"" from the menu.
Take a look at the steps on the following page. To continue, select ""Get a Code.""
After you successfully confirm your card, a $100 verification fee will be deducted from your account. The PayPal charge and the confirmation code can be found on your bank statement. Within 5-7 days, or frequently much sooner, this will manifest.
Using your online banking account, you can check your bank statement. If this is not the case, you will need to personally go to your bank and request a copy of your bank statement. 580,400],'_com-leader-2','ezslot_16',199,,_('div-gpt-ad-_com-leader-2-0');
Between PP* and COD, a group of four numbers is typically the confirmation code.
To verify your card, follow the link once you have the code. You'll find this in your notifications. Click ""Submit"" after entering the four-digit code.
Congratulations! You have now successfully verified your PayPal account and your credit card. The confirmation message for your credit or debit card should be in your email.
How to Transfer Money from PayPal to Your Bank Account Now that we've covered the fun part, you can transfer money to your credit card or bank account.
PayPal-to-bank transfers have no withdrawal cap for verified accounts. Transfers to your Visa credit or debit card have a daily limit of 25,000 yen. Visit this page to learn more about your withdrawal limits: 300,250],'_com-leader-3','ezslot_17',600,,_('div-gpt-ad-_com-leader-3-0');
Step 1: To begin, either on the Summary page or in your PayPal wallet, click ""Transfer funds.""
Step 2: Select a destination for the money transfer. I chose my UnionBank account for this example. To continue, select ""Next.""
Step 3: Please enter the sum you wish to withdraw. To continue, select ""Next.""
Step 4: Examine your request for a withdrawal. Keep track of the withdrawal fee and the amount that was converted. Pesos are automatically converted when funds are withdrawn from Philippine bank accounts.
To move forward, select the ""Transfer (amount) Now"" button.
Step 5: Your request for a withdrawal has been started. Your bank and a number of other factors will determine how long it takes for your money to arrive. You can also verify the receipt of your request by checking your email.300,250],'_com-leader-4','ezslot_18',601,,_('div-gpt-ad-_com-leader-4-0');
Fees for PayPal Withdrawals For transfers of less than 7,000 yen from PayPal to a bank account or Visa card, the withdrawal fee is just 50 yen. Transfers of 7,000 or more are eligible for free withdrawals.
However, there may be additional costs imposed by your bank. I've heard that BPI costs 150 yen, while BDO costs 200 yen. UnionBank does not charge any additional fees.
UnionBank EON is my recommendation for PayPal withdrawals because of this. In addition to the low withdrawal fee, most transfers to my bank account are processed within one business day. Therefore, by Tuesday night, I typically have the money in my ATM if I request a withdrawal on Monday.
Since opening my UnionBank EON account in 2009, I have made hundreds of PayPal withdrawals without incident. It does not require an average daily balance to be maintained, and it only costs 350 yen annually. Here are more details about UnionBank EON.
Funding Your PayPal Account In the previous section, I explained how to transfer funds from your PayPal account to your bank account. But what about transferring funds from your PayPal account to your bank account?300,250],'_com-mobile-leaderboard-1','ezslot_19',602,_('div-gpt-ad-_com-mobile-leaderboard-1-0');
Unfortunately, you cannot yet use a Philippine credit card or bank account to fund your PayPal account. Transferring funds from another PayPal account, making a direct payment to your PayPal account, or receiving money from another PayPal user are the only ways to add funds to your PayPal account.
How to Use PayPal At this point, let's discuss how to use your PayPal account. PayPal might come in handy for a lot of personal and business transactions, like paying for goods, sending money to a friend, or getting paid. Let's look at some of the options you have with PayPal.
Paying for Online Purchases PayPal may be useful for online purchases and shopping. PayPal can be used to make payments on any website or e-commerce platform that is worth its salt. Customers can pay quickly and easily using PayPal checkout at most businesses.
The fact that you are protected by PayPal Buyer Protection is the primary advantage of using PayPal to make online purchases. If you didn't get the item you ordered or if it wasn't as described or was defective, you can use this to get a refund or file a dispute. Customers can file a dispute within 180 days.
Sadly, PayPal is not accepted by the majority of merchants and online shopping websites in the Philippines. It's possible that sellers aren't aware of the advantages of using PayPal yet, or it's possible that there aren't many PayPal users in the Philippines, so businesses don't see the need to offer it. As the local e-commerce industry develops, it is hoped that more businesses will begin offering PayPal.250,250],'_com-mobile-leaderboard-2','ezslot_20',603,,_('div-gpt-ad-_com-mobile-leaderboard-2-0');
Sending and Receiving Money You might know someone who is in desperate need of money. By providing his email address, you can easily send money to his PayPal account. You can also ask other PayPal users for money. Simply select ""Send & Request"" from the top menu and follow the on-screen instructions to send or request money.
Pay attention to the fact that domestic payments made within the Philippines incur a transaction fee of 3.9% plus 15, whereas international transfers incur a fee of 4.4% plus $0.30. You can figure out the additional costs by using this PayPal fee calculator.
To send money to a friend without incurring transaction fees, select ""Sending to a friend.""
Online Jobs and Freelancing PayPal is the preferred method of payment for many employers and freelancers. A PayPal account is an absolute necessity if you want to make a living online. You can have your salary deposited into your bank account after employers use Paypal to pay you.
I worked as a freelance writer for a US-based company before becoming a full-time blogger, and PayPal was their only payment method. Therefore, I would not have quit my job and started working from home without PayPal. I was able to take advantage of numerous Internet income opportunities thanks to PayPal.300,250],'_com-narrow-sky-1','ezslot_21',604,,_('div-gpt-ad-_com-narrow-sky-1-0');
You can also accept payments from customers using PayPal if you run an online business. Although the majority of Filipinos do not yet know about PayPal, it is a nice option to have in case a customer requests it.
In conclusion, PayPal is really helpful for people who want to work online or just shop online. I hope this in-depth PayPal Philippines guide was of assistance to you as you signed up for PayPal, verified your account, linked your card or bank account, and transferred money. You can reach PayPal's customer service hotline at 1-402-935-2050 if you have any questions or concerns.
Tags: PayPal UnionBank is an online banking, payment, and shopping service." - https://www.affordablecebu.com/
