Sign up for Paypal in the Philippines!. You can withdraw an amount not exceeding $500 per month to any debit, credit card or directly into your Philippine bank accounts. You will just need the bank codes and savings account number.
At long last, Paypal’s promise to allow receiving funds into Philippine accounts have been fulfilled. Just today, reports have been circulating in the previous post here about the development.
I did a money transfer from an old and verified Premier account into my new Philippine Paypal account and it works. From the Paypal Help Pages, the Philippine flag is now displayed under “Send. Receive. Withdraw to a U.S. Bank Account or a card.” along with 22 other countries.
The new status allows for: Send and receive payments in these countries. Withdraw from your PayPal account to a U.S. bank account. In addition, withdraw to a credit, debit, or prepaid card in countries marked with a (
). No withdrawals from local banks still though. And no cheques too.
I believe this development will further push activity in eBay Philippines as well as enable eBay users to get more secure transactions. The question whether eBay PH will start charging monthly subscriptions is yet to be seen but I suppose that time might have already matured.
It would be very interesting to see how this new development will affect the local e-commerce industry as well as Filipino’s socio-cultural fear of transacting online. I’m sure SMEs will be very happy with this though. Paypal only started allowing Philippine-based accounts about 11 and a half months ago and reports of a rumored full Paypal support were spreading 9 months ago.
So, if anybody wants to donate money to the YugaTech Sponsor-a-Contest campaign, see my Paypal account above. 
Learn More: www.sendmethecard.com from Chase Bank
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Yup! Yup! UnionBankPH EON Cyber Account works with PayPal. No maintaining balance nor initial deposit required to open an EON account, I think you’ll just have to pay for the ATM/Debit card itself, and the annual fee of around Php250.
For those who are planning to use EON Cyberaccount but doesn’t have an existing card yet. Habaan nyo ang pasensiya nyo pag nag-apply kayo. Walang kwenta ang proseso nila. Naturingang cyber account, pero kailangan mong magpunta sa branch, maghintay ng 48 hours for activation, magdeposit ng amount, maghintay na mapadala ng branch yung information sheet na pinapirmahan sa iyo sa branch dun sa head office nila which is in CEBU daw. Walang kwentang sistema.
Thanks, Charles!
@ Arnold:
The deposit is for the 350 pesos annual fee. I suppose it can be done easily via ATM transfer from one of your existing bank accounts or debit cards.
However, I would have to agree that the whole process of having the EON card getting to work is quite awkward. The card’s activation time of 48 hours is acceptable, but waiting for more time before the online registration worked is another thing. I would have thought it is a fast process after the card has been activated.
I haven’t encountered yet that thing about the information sheet, though.
Anyway, this is better than having no way to receive PayPal funds at all. To those using BDO’s debit or VISA cards, what are your experiences? Does it take a lot faster before the card can be used compared to Unionbank’s EON?
I already got my EON card and its already activated. I tried to include my EON debit card to my paypal account but this error came out:
“This credit card has been denied by the bank that issued your credit card. For details on why your card was denied, please contact your credit card issuer’s customer service department. Or, you may want to try adding a different credit card.”
I guess this has something to do with the waiting for more time before the online registration works eh? Am I right? How long would this probably take? Has anyone experienced this?
Talk about getting excited. HAHAHA! I want this to work asap and start on the money making opportunities online that I have been dying to try for a long time!
Can I use my fund to send money or to purchase online even if i’m not verified?
Nevermind, i made my first purchase! Yay!
A friend initiated a withdrawal from Paypal to Unionbank EON last 2 weeks ago but funds aren’t available yet until now.
So, it’s really that long to wait! Has anyone already withdrawn Paypal to VISA/cash?
Since Mastercards from BPI can be verified but NOT to receive funds (my experience), I decided to send the money to myself using my XOOM account, because they have the option to send money using Paypal. I used my Paypal account in conjunction with that. HOWEVER, when I tried sending money, a day later I received an email from Paypal that Xoom has refunded back my money to Paypal, with the explanation that it was for the protection of the customer (the sender of the money).
Any similar experiences?
@ gerry ,
I have the same experience with Xoom it happen 3 times already.. I think they are not into small amout.. Itried to do US 100 and it fails..