PayPal Philippines

Paypal promises to resolve pending withdrawals today

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.  Several members, as seen in this PMT Forum discussion thread, 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.

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New scam using fake Paypal email

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 A suspiciously large amount being withdrawn to a Philippine bank account raises the bank’s alarm and if you could not properly explain how you got the amount and why you are transferring money, you may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.

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