Are banks clueless to Paypal?

[8_cRawlin_baby_8]

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I use PayPal to accept payment from int'l buyers at the same to pay goods purchase abroad.

I withdraw funds from PayPal to either my BDO or Unionbank bank accounts. However, just recently I withdrew funds to Unionbank. After few days of waiting, the transfer was unsuccessful for reasons only Unionbank knows why. The error said that "Invalid Bank Account". I called up CS but hey! guess what! They don't know what's PayPal!?

From then on, I use BDO to accept the funds.

It's our bank system that sucks. They are way too far behind about online chuvaness..

[kharan]

I don't know how banks work, but I don't think they need to know about Paypal. When you confirm your bank account with Paypal, they just transfer a few cents to your bank account and you just tell PayPal how much they transferred. It works just like any other transfer.

Yes sayon raman kung magconfirm and link your card to your paypal. But maybe the hassle lang is when you withdraw money from your paypal to either your bank account or card.

[8_cRawlin_baby_8]

^^^ There are no hassle actually only if you have the correct bank code. Name you have on PayPal must be of the same on your bank details otherwise this will be rejected and you will be fine P250.

Withdrawing to credit/debit card is $5 flat. To local banks, if below 7,000 PayPal charges you P50 plus the charges your bank deducted.

For now, only Unionbank offers FREE for transferring funds. BDO charges P200.

[kittymint]

^^^ There are no hassle actually only if you have the correct bank code. Name you have on PayPal must be of the same on your bank details otherwise this will be rejected and you will be fine P250.

Withdrawing to credit/debit card is $5 flat. To local banks, if below 7,000 PayPal charges you P50 plus the charges your bank deducted.

For now, only Unionbank offers FREE for transferring funds. BDO charges P200.

True, dont think the bank people need to know about it but it sucks when you don't know if your account is really connected na to paypal. plus the withdrawal fee + transfer fee is way off...oh well...thanks guys for the info! really helped

[Moks]

It's our bank system that sucks. They are way too far behind about online chuvaness..

Mao gyud bro! Totally agree!

I have my Citibank credit card registered for PayPal. Convenient kaayo pambayad sa Ebay, PlayAsia and Amazon. Wala pa lang ko kasulay nag-receive payment, kay I need to register a bank account (thinking of Unionbank).

Pero mao lagi, nagsuway lang gani kog online-transfer from one bank to another local bank (all Megalink members) puerteng kulbaa, niabot usa ka semana kapin, wala pa gyud nadawat. Unsa na kaha Paypal! Unya mangutana ta sa atong former classmates ug relatives working in the banks (CPA pa uban) wala gyuy kalibutan!

[harvex]

tama maybe they have a degree of fear in trusting them!

[kittymint]

Mao gyud bro! Totally agree!

I have my Citibank credit card registered for PayPal. Convenient kaayo pambayad sa Ebay, PlayAsia and Amazon. Wala pa lang ko kasulay nag-receive payment, kay I need to register a bank account (thinking of Unionbank).

Pero mao lagi, nagsuway lang gani kog online-transfer from one bank to another local bank (all Megalink members) puerteng kulbaa, niabot usa ka semana kapin, wala pa gyud nadawat. Unsa na kaha Paypal! Unya mangutana ta sa atong former classmates ug relatives working in the banks (CPA pa uban) wala gyuy kalibutan!

nyaahahaha sigh oh well good luck to us! ;p