Good news about Philippine PayPal withdrawal

Philippines
April 29, 2011 1:06pm CST
I read some blogs that paypal automatically convert the withdrew amount to local currency of the country (it was also indicated to their frequency question about withdrawal). There was this one person too that did this withdrawal to his dollar account but the credited money was already in peso when she checked... And so I wrote paypal last night and asked if I can withdraw my balance and transfer it to my dollar account. And if possible to send the money in US Dollar currency and not in Philippine peso since I will be using a dollar account? I also asked, if they are not doing this yet, is there a chance in the near future to add this special feature for us who have dollar account? I just wanted to share the answer of paypal to all. And I am very happy to their response. Below is the copy of their letter to me. [b]I have great news for you! Currently, for Philippine PayPal accounts, you have the option to withdraw money to a U.S or local bank account. If you will use your dollar account for the payment withdrawal, you will not incur any fees because your funds will be transferred in U.S. dollars as well. We are happy to have you as a customer and appreciate your business. Thanks for writing and thank you for choosing PayPal. Sincerely, Nina PayPal, an eBay Company Copyright© 2011 PayPal Inc. All rights reserved.[/b] Isn't this a great news and a good change from paypal...
4 responses
• United Arab Emirates
30 Apr 11
wow, this is such a great news especially those who have a dollar account because you will not pay a fee. Paypal really improving day by day and thats a great accomplishment. Have a nice day.
• Philippines
30 Apr 11
Yes that is correct! I am so glad about this, no more conversion charges... and especially now, dollar exchange rate is low... I can keep the dollar on my account for awhile and earn interest at the same time then withdraw when the dollar rate is good already... Thanks for responding alexandrearose! I see you are new here, welcome! I am sure you'll gonna love this site!
• United Arab Emirates
1 May 11
Thanks for the warm welcome lovelyn, actually i'm beginning to love mylot because i'm learning so many things from the discussions and at the same time earning some extra. Have a nice day
@shibham (16977)
• India
30 Apr 11
Hey, where were you these days?
@shibham (16977)
• India
1 May 11
Yes, i missed you a lot. Thanks for the comment on my avatar.
• Philippines
30 Apr 11
Hi shibham!!! Did you miss me?? hehehe I wasn't that active to mylot this past few months... been busy with my offline stuffs... Glad to hear from you. Nice avatar!
1 person likes this
• Philippines
29 Apr 11
I don't know since I don't have a dollar account. and It depends on what bank that is connected to your paypal account. if my sis in law was more interested in mylot then it could have been good for her keeping that dollar account of hers. unfortunately, she got a different interest.
• Philippines
30 Apr 11
It's a good news for all who are using paypal with dollar account, at least no more conversion fees because funds will be transferred in U.S.dollars as well. And I can also withdraw the money in dollar and exchange it to black market which offers a little higher conversion rate than with banks... Glad to hear from you Letran!
• United States
30 Apr 11
Great news for you. I am glad for you. Take care.
• Philippines
30 Apr 11
Hi soapies! Yes this is a real good news for me... Because I can also use paypal to avoid my account in being dormant.