PinoyMoneyTalk.com

We have been writing articles, tips, and tutorials about Paypal since 2006 but only now did we see the potential of earning money from it. For the second consecutive month now, we have been reaping the rewards of creating Paypal-related articles that contain our Paypal referral link.

Last May 1, we wrote about the $30 Referral Merchant Bonus that we got from Paypal for the months of April and May. This we earned by referring users to sign up for a Paypal account.

(more…)

You open your inbox and see an email purportedly from Paypal warning you that your account has been limited. A limited Paypal account? Oh no!

If you won’t be able to lift the limit, all funds in your account will be stuck there, meaning you can’t spend or withdraw them!

So to solve this problem, you should just click the link in the email, right?

(more…)

We’ve mentioned before that it’s possible to earn by referring people to Paypal. When they sign up using your referral link, you receive an initial bonus of $1.00 when your Referred Merchant has received a total of $200.00. In addition, you get 0.5% of the total amount of their payments up to $1,000 for 12 months.

In our case, we’ve already received around $30 bonus from Paypal in March until early April. Screenshot below.

How can you promote Paypal and get more referral bonuses? Here are three tips.

(more…)

A recent discussion in the PMT Forum is about the issue of Paypal automatically upgrading Personal Accounts to Premier/Business status if more than $500 is received in one month.

According to sources, Paypal’s newest rule is that when a user receives more than the $500 receiving limit per month, the Personal Account is automatically upgraded to Premier or Business Account.

(more…)

You’ve already signed up for a Paypal account but have still not decided which type to use. Read more to discover what type of Paypal account suits you best.

There are three types of Paypal accounts: Personal, Premier, and Business.

Personal accounts are, obviously, for the personal use of individuals. They can accept up to five (5) credit or debit card funded payments per year and are assessed a transaction fee. Other payments received are not charged a fee.

Premier accounts are for members who have a high transaction volume or would like to access Paypal’s Core and Premium features (explained below). Premier accounts may operate under an individual name. Unlike Personal Accounts, they can accept an unlimited number of credit or debit card payments. However, all payments received are charged a certain fee. (Paypal’s fee schedule here.)

Business accounts are for businesses, allowing them to operate under a company or group name and accept payment from customers without PayPal accounts. Like Premier accounts, they can accept an unlimited number of credit and debit card payments, although all payments they receive are charged a certain fee.

(more…)

Update 2/9/2008 : The good news: As promised, Paypal did process some of the delayed withdrawal transactions yesterday. The bad: Not all pending requests were completed.  Elaine and Jerome commented that their funds have finally been credited to their cards, and Jonathan showed a screenshot of his completed transfer. Several members, though, are still waiting.

A follow-up to the pending Paypal withdrawals problem currently plaguing users: Paypal has issued an official announcement at the eBay site claiming they plan to resolve the issue by today, February 8.

The announcement, posted on February 5, goes:

February 05, 2008 | 12:54PM a PHT

We are aware that users in certain countries such as Malaysia, India, Indonesia and the Philippines, are currently unable to complete withdrawals to their Visa credit, debit or prepaid cards. We are working diligently to resolve this as quickly as possible so that you can access your funds. We hope to have this resolved in the next 72 hours and will let you know once we have more updates.

Thank you for your patience.

The PayPal Team

The “next 72 hours” lapses 3 days from February 5 so if the announcement is to be believed, Paypal should have resolved the issue by today, February 8.

(more…)

A Pinoy Money Talk (PMT) member emailed me yesterday to ask whether a Paypal transaction she is planning to enter into is a scam or not.

Apparently, some guy supposedly from the UK contacted her asking help to transfer Paypal funds. The guy claims he plans to visit the Philippines and needs help moving funds to the country.

This should already raise a red flag. Never, ever agree to such transactions because you may unwittingly be a conspirator to money laundering. A suspiciously large amount being withdrawn to a Philippine bank account raises the bank’s alarm and if you could not properly explain how you got the amount and why you are transferring money, you may be charged under the country’s Anti-Money Laundering Law.

(more…)

When PayPal first launched the withdraw to bank account feature, it did so without coordinating with local banks in the Philippines.

An obvious proof is that banks did not have a clue what a Bank Code is. The Bank Code is a 9-digit number unique to a Philippine bank that Paypal requires before a bank account can be attached to one’s account.

On the first days of the new withdraw feature, banks such as Metrobank and BPI told their clients a bank code which proved to be different from the official Paypal Philippines Bank Codes.

(more…)

Paypal users in the Philippines rejoiced when Paypal started allowing the direct withdrawal of funds to local bank accounts. However, those who initiated a withdrawal before this feature was offered have nothing to be happy about.

For some of them, their withdrawal transactions are still pending after 3 weeks.

In the discussion thread Delayed Paypal withdrawal to EON account, MT_daw wrote:

I did the transaction last January 21, and … it is not yet added to my EON balance.

Jericho added:

My withdrawals (to my EON account) since January 21 is still on pending status as well. I called PayPal and they said it’s the bank’s responsibility to claim that the funds withdrawn has cleared. My theory - UnionBank takes a while to clear it because of the slight increase of the dollar.

(more…)

Now that PayPal is offering more and more features to users in the Philippines — the latest of which is the withdraw to bank account feature — a lot of people are wondering what will be offered next.

Some users are asking for Paypal to eventually allow direct withdrawal to US Dollar bank accounts. Now that funds can be withdrawn to peso bank accounts, several people look forward to directly transferring Paypal to their dollar accounts.

If allowed, then users will have the option to convert funds to peso anytime they want. They can even profit from changes in the exchange rate if they converted money using a better rate. The bad thing, however, is that we’re not sure if local banks will ever allow this. Since they will “lose” on the spread they earn from offering rates slightly lower than the current rate, they might hesitate on giving Paypal this functionality.

Another feature some people are requesting is the funding of Paypal using one’s bank account. At present, Paypal accounts can only be funded via select debit or credit cards or by receiving Paypal balances from another user. Being able to fund using a bank account will definitely be convenient especially to those who don’t want to use credit cards online. However, it can also be dangerous if a hacker succesfully got into somebody’s Paypal account.

(more…)