Thursday, April 7, 2011

Paypal; Transferring Funds and Withdrawals

I have been saying from my posts here about withdrawals from the PTC sites/Outsourcing sites to Paypal.  However, you might be asking, what is Paypal? How can I withdraw my money from Paypal?

These have been the questions of my auntie when I shared to her about these earning sites.  I told her to just transfer her money to Paypal then from Paypal to a certain bank.  Sounds easy, right?  Yeah, it is really easy.  Let me share to you how this is done.


To answer your question on what is Paypal, for me, this is a "temporary" online bank that you could use to pay or to be paid online.  I forgot to tell you that this can also be used if you want to purchase something online.  You need to validate your account by registering your credit card or debit card.

Now, for the main concern of our topic:  Transferring of funds
  • First you need to have an account in Paypal.  Sign up:
Sign up for PayPal and start accepting credit card payments instantly. 
I suggest that the password that you will be using in Paypal would be different from your social media sites or personal email password.  This is for the protection of your account.
  • Once you have signed up, the email address that you used will serve as your "account name".  Therefore everytime a PTC site or any other earning site asked you to input your paypal account, put the email address that you registered.
  • Now, you think you can transfer your earning from this PTC site, all you have to do is to find from the site "withdraw" or "transfer" of earnings.  Some sites would have fees on the transferring but PTC sites don't have fees.
  • Checking your Paypal account, you have thought of transferring that money to your bank account.  Here in the Philippines, there is this bank (Union Bank of the Philippines) wherein they have a specialized account for online transactions.  This has a very low fee.  If you will withdraw Php 7000 up, there will be no fee however if it is lower the fee is only Php 50.
  • Mentioning the Union Bank, if you are interested, you could apply for the EON card on any Union Bank branch for only Php 350.  This card will be processed for two weeks.  
  • Once you had the card, you should enroll that on Union Bank website and register Union Bank on Paypal.  Upon registering in Paypal, a bank code will be asked.  Union Bank's bank code is 010419995.  If you have questions about how to do transactions from Paypal to Union Bank click this. 
That sounds simple and easy, right? :-)  I hope you could now start working and earn eventually.  Happy Earning!  

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