Opening a Paypal Account Is Free and Easy

March 30, 2009 · Filed Under Career/Work 

Paypal is an online payment system. It’s free for personal users and offered for a fee to businesses.

Three Kinds of Accounts

  • Personal Account — for individuals who pay online
  • Premier Account — for individuals who buy and sell online
  • Business Account — for companies and organizations

Opening an account is free and easy.

Sending Money

Sending money through Paypal is free. You use your Mastercard, Visa and American Express cards or your US bank account.

Withdrawing Money

There is a fee of 50 pesos for withdrawing less than 7,000 pesos. If it’s 7,000 pesos or more, it’s free.

Your withdrawal is done using your account with your Philippine bank and it takes about 2 to 5 working days. So, before you make your withdrawal, you must first add your bank account details to your Paypal account. Just click Withdraw and then Withdraw funds to your bank account. You will be requested to enter your name, bank name, bank account number, and a 9-digit bank code. You can copy your bank code from the Philippine PayPal bank code list compiled by James of pinoymoneytalk.com.

Additional tips

  1. Make sure the name in your Paypal account is exactly the same as the name on your bank account. There is a return fee of 250 pesos, if the transaction fails due to this error.
  2. To make sure you are really on PayPal site, check 3 things:
  • your URL has s on the https://www.paypal.com
  • your URL has the PayPal icon, a blue-colored P, and the name Paypal, Inc. (US)
  • at the right bottom corner, there should be www.paypal.com and an image of a lock

Company Background

PayPal, based on San Jose, California, was founded in 1998 and was bought by eBay in 2002. Currently, it has more than 153 million accounts in 190 countries and in 18 currencies around the world.

PayPal has also received numerous Internet industry awards, including the 2006 Webby People’s Voice Award for Best Financial Services Site and the 2006 Webby Award for Best Financial Services Site.

Sign up for PayPal and start accepting credit card payments instantly.

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Comments

4 Responses to “Opening a Paypal Account Is Free and Easy”

  1. OFW Parents, Know Your Daughter More Through MyLot | Working Pinoy on April 5th, 2009 7:38 am

    [...] Paypal, but if she’s younger than 18, she can use your Paypal. There’s an article here about Paypal, if you like to know more about [...]

  2. bw on May 7th, 2009 11:51 pm

    Darn, up to now I don’y have a paypal account ! Thanks for the info. I need to get one.

  3. anica songco on June 23rd, 2010 9:28 am

    can i use bdo cash card for my paypal?

  4. Nors on June 27th, 2010 6:42 pm

    Hi, Anica, if you mean withdrawing your paypal money to your Bdo cash card, hindi raw puede, sabi nong tinawagan ko kanina sa BDO call center. If you mean naman kung puede pang-verify your paypal account, may mga nagsasabi dito sa Internet na puede raw. Yong iba naman, di raw puede. To verify, i-try mo na lang. I-reject naman ng Paypal kung di puede. Kindly share na lang here your experience to help others also. Thanks.

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