If you wanted to pursue and try your luck with a career online, this is the most important step: Make sure that you have a medium to withdraw your hard earned money!
When I was only starting out and got paid through blogging 2-3 years ago, I can’t have my Paypal account verified because I’ve no debit or credit card under my name and it’s frustrating. And me being the smart person that I am, I purchased something online and used my Paypal credits and talked to the owner that I am going to transfer all my money to her if she can transfer it to me via GCash. And that’s how I withdraw my money at Paypal! Ha ha ha I know right.
Past forward to today, I have a debit card and credit card and could verify an account, but still it look a lot of patience and waiting. If you are clueless and you wanted to verify your Paypal account and have no idea what to use, you are on the right blog!
- Know what card you wanted to use. I personally recommend the EASTWEST BASIC SAVINGS DEBIT CARD. Why? You only need Php 100 to open an account although you may want to deposit more than 100 if you’re using it for paypal just go to the nearest branch bring an ID, Proof of Billing and wait for 3 banking days to get your card! Other options: Unionbank EON Card, RCBC my Ewallet I don’t have both but you can always use whatever you prefer just as long as you can use the card with transactions online.
- Create a paypal account or link your debit card to your existing account
- Make sure that you enter the same billing address with the one you used enrolling the card.
- Enter the 4 digit code. I’ve read a lot of blogs online and they said that you have to email Eastwest so you could ask them for the code. Waiting time is about 24-48 hours for a response. My tip: CALL THEM. I called them with the numbers listed on the back of my card, asked to be transferred to the Debit Card. Once I talked to the Customer Service agent I just said that I need the Paypal Verification code, and after verifying my identity I got my 4 digit code. Waiting time: 10 minutes maximum
- Viola! You finally have a verified Paypal account. Upon being verified, you will notice that Php 100 is credited to your account, this is the amount Paypal debited to your account when you linked your card.
If you’re going to ask me: HOW TO WITHDRAW PAYPAL TO EASTWEST DEBIT CARD. I have no answer to that yet, I haven’t tried it out. I asked to the agent if it’s possible and she says that it is, waiting time is about 3-5 banking days.
UPDATE AS OF MARCH 18, 2015: You can withdraw your Paypal funds using your Eastwest Debit Card, after you’ve used it to link to your account for verification, process the withdrawal and select the option to withdraw with your debit/credit card. For 3 days, Paypal will hold your withdrawal and will be pending for processing. There will also be a fee of Php 250 per withdrawal or $5. I withdraw my funds on March 14, 2015 and 3 days later I received my funds. I checked by enrolling my Debit Card to the Net Access so I can check online.
UPDATE AS OF APRIL 10, 2015: Withdrawal fee of Php 250 or $5 only applies if you’re withdrawing an amount less than Php 7,000 pesos. If you’re processing a withdrawal of Php 7,000 and above, it will show on the transaction details that you’ll be debited that fee (Php 250 or $5) but when the fund enters your account you’ll be receiving the full amount you withdrawn. Also, if you’re continuously using this method to withdraw your funds, you don’t have to always wait for 3 days for Paypal/Eastwest to process your withdrawal. In my case after 1 month of withdrawing with my Eastwest bank debit card, withdrawal reflects on my account real time or immediately the minute that I process the withdrawal. I am checking through Net Access via East West Bank.
I will write more of this Freelance Guide so I could help out fellow freelancers who are just starting out with the business. I would love to hear your thoughts about this.
Lots of love,