Withdrawing funds from Paypal using “withdraw to bank account” or “withdraw to card” are not the only ways to get funds from Paypal to any Philippine bank account. There are other lesser known options, and I had identified five ways to get those funds in the Philippines.
I have personally used only one of the options listed here. Except for Payoneer virtual bank account where I am currently invited to participate in their pilot program, I have not personally tried out these services.
I had identified other options because there are more Filipinos who like to pursue ways in earning online. However, getting customer support help in withdrawing funds is really not that good, when someone gets into a problem withdrawing funds. Just like what this guy experienced: what started out as a dull bearable pain, came back and turned into a headache, then into a migraine – I hope this story doesn’t get worse than that.
PLDT Online is a huge portal where one can shop, pay bills and buy e-load online. I am more interested in their Smart Money reload facility. If you own a Smart Money account, just withdraw cash directly from verified Paypal or Moneybookers account. I think the transfers are immediate except for the first withdrawal, where there is a need to submit documentation to verify one’s account. There are corresponding fees applicable depending on the how small or how large the amount to be withdrawn.
The i$end feature is the one that comes with the desktop version of Chikka Txt Messenger. Getting funds from Paypal is reported to be immediate: it will just take a few minutes that funds get credited into one’s Smart Money account. However, there are no enough writeups to see satisfied and dissatisfied users (I found only one through Google, as of writing this post), so it is safe to assume that there are less people who opted to try out this feature.
Payoneer debit card using its virtual bank account
UPDATE: This is already implemented. Enabling the virtual bank account costs $20 per year.
I received my Payoneer card from oDesk more than a year ago. I have used that card not only to receive earnings from that freelance site but also to receive Paypal earnings in just two days. Paypal to Payoneer transfers will be available soon to the card holders. As one of the participants in their pilot program, I am very satisfied with the smoothness of their Paypal to Payoneer transfers. The only problem that I had was when I discovered that my Payoneer virtual bank account was not listed as one of my Paypal bank accounts (I did not lose any money anyway). ReviewMe, Elance, Freelancer.com and iStockPhoto are some of the sites that offer debit cards powered by Payoneer, aside from the one that I use with oDesk.
Learn more about Payoneer from some of these previous posts:
- Receiving my Payoneer Card
- Coming Soon: Payoneer Virtual Bank Account
- How to Get Paypal Verified using a Payoneer Card
Xoom (do not use)
For a time Xoom was used to withdraw funds from Paypal when Paypal did not offer the facility to withdraw to a local bank, credit or debit card. Withdrawal is supposed to be quick but many users have now reported that their Paypal accounts turning into limited status after trying the Xoom facility. I still included this one since it was once an a facility to withdraw funds. Please do not use this option to withdraw Paypal funds in the Philippines.
Individuals who buy and sell Paypal funds (too risky, but getting to be a common arrangement these days)
I keep on seeing plenty of individuals and even businesses who are roaming around in a lot of making money online forums and even Facebook groups to promote the trade of selling Paypal funds in exchange for G-Cash, Western Union or Smart Money funds. This kind of exchange is too risky because the other party can simply run away with the funds. Transact using small amounts with people who have gained enough reputation: this is best checked through trust ratings voted by many members in several make money online forums.
These alternatives may be more efficient and better than the popular options provided to withdraw Paypal funds.