Paypal in the Philippines

posted on Tuesday, February 12, 2008 @ 8:06 am by Aileen
tagged with paypal
filed under Miscellaneous, eBay with {1} comment

When Paypal first introduced the use of a debit card (Unionbank EON Cyber Account) to transfer Paypal funds into, eBay sellers were ecstatic! At long last, we could then receive Paypal funds! Before, our Paypal accounts can only be used to send money. As a result, our collective sales volume went up because Paypal is a widely recognized online payment system & it has opened our doors to more customers worldwide.

Everything went well during the first few weeks until Paypal announced that we can withdraw funds not only into our debit card but also into our bank account. Transferring funds into a bank account is free so long as the withdrawal is more than P7,000 - a margin that is quite agreeable considering that we transfer triple that amount every other day. This was good news!

But then, the good news precipitated into nothing less than a disaster. Withdrawals to our debit card have been pending for more than 2 weeks. Withdrawals to our bank account have bounced back into our Paypal account minus P250 per withdrawal.

Now, business is at a looong recess due to Paypal’s delay. Our Return on Investment has been delayed for almost a month already. It is very disappointing that you have made good sales & yet you are unable to enjoy your profits.

Time is of the essence. Think how many ROI’s we could have enjoyed, how many watches we could have sold if not for this delay. Paypal is heartless.

Paypal support was less than satisfactory & if I’m not normally kind, I would have said “poor”. I’ve sent 3 emails & I did not receive a single reply. I called twice & matters were only made clear to me after an hour of waiting.

A word of advice: Until further notice, withdraw Paypal funds into your debit card since this method has been tried and tested. But never withdraw Paypal funds into your bank account - I have followed their requirements to the letter and yet my funds have bounced back for no reason at all!

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Comments

Aileen has collected {1} comment for the entry, Paypal in the Philippines. All comments are listed below.

Judy - Thursday, February 21, 2008 at 3:06 am

I’m glad I don’t have to deal with all that garbage. Whew! I hope you get things settled soon.

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