Initial Bank Deposit Requirement

One of my most viewed post here is the PayPal Verification Process for Philippine local banks and I really have a lot of inquiries coming from blogger friends and researchers from google and other search engines who usually lands in this page.

Lately, some are even asking me regarding bank deposit requirement so to add an additional info for this post, I made a quick research and get some screenshots to help you guys.

To those who have no VISA or MASTERCARD credit card, I usually recommend EON because it’s the easiest way to get verified.

Info on how to open an account click here

For further info pls visit UnionBank official website by clicking here

PNB – Philippine National Bank Initial Deposit requirement

Full view: click here

Steps on how to send remittance thru PNB click here

PNB Big Time Privileges

PNB for Global Filipino Family

BDO Initial Deposit Requirement

Full View click here

Official Website of Banco De Oro

ALLIED BANK CASH CARD

For further info on Allied Bannk’s Products and Services click here

I hope this post helps for your search for the lowest initial bank requirement. You can still Google it for comparisons. I have the name of banks here…

Til next post guys 🙂

PayPal Verification Process: Philippines

How to become a verified PayPal Member

You must have a credit/debit card with Visa or MasterCard logo. If you don’t have a credit card, I recommend that you apply for a CyberEon card. The last time I checked, it only costs 350.00Php (Annual Fee). You can apply online or visit Union Bank branch near you. Bring 2 valid IDs and picture and also photocopy of your 2 valid IDs. It will take more or less 2 weeks before you receive the Eon card. Deposit an amount equivalent to $1.95 or maybe at least 200Php to your Eon Card. This will be used for PayPal verification but will be returned to you after you are verified.Your card will be activated within 24 hours. You can also enroll it in Union Bank online banking. After activation, you can link your Eon card to your Paypal account. The CCV code is the last three numbers at the back of your Eon card.

Paypal will charge $1.95 to your card but don’t worry it will be returned to you. Check your card to see if you are already deducted with the said amount. It may take 2-4 business days for the code to appear on your online account statement. If you are enrolled in online banking, you can log to see your credit card statement and get your code. If you can’t access your credit card statement online, you can call and ask a Customer Service for your Expanded Use Number (or in short, your Paypal code – EXPUSE)

Once you retrieved your PayPal code, log-in to your PayPal account and click “confirm my debit or credit card” link on the Account Overview page to enter your code.

After Verification Process, you can now add another bank account and withdraw from any Philippine Bank Account.

How to add another Bank Account

Log into your PayPal account,

Click the ‘Profile’ tab and then click ‘Add or Edit Bank Account’

Add your bank details

Note:

Your First name and Family Name on your PayPal account must match the name on your bank account, if it doesn’t match, your withdrawal request may be rejected by your bank.

Review your bank account information

Add your Bank Code. Bank codes can be found in my previous post.

Click ‘Add Bank Account‘ to confirm

Click the ‘My Account‘ tab and then click the ‘Withdraw‘ sub tab

Select the ‘Withdraw funds to your bank account’ option

Note:

Withdrawals equal or more than PHP 7,000 are free.

For withdrawal amounts of less than PHP 7,000, there will be a fee of PHP 50

Select the bank account and amount to withdraw

Confirm the transfer

It typically takes 5-7 business days. However, depending on your bank’s policies, it may take longer

Bank Codes of Philippine Banks

Some of my friends who are applying for PayPal verification are calling me and asking for Philippine Bank codes so I decided to post it here. I hope this will help you too.

I know some of you fellow freelance Pinoys and Pinays who are working online are still in the process of creating PayPal Account and experiencing some problems on verification process. I know it because when I was processing mine, I visit so many forums and discussion groups just to get the proper procedure and now that I am blogging, I will post the entire procedure here in my next post.