I felt like being robbed...

Philippines
January 28, 2012 9:48am CST
I withdraw my paypal money three days ago but when I received the cash through ATM, it was short of 300 plus. I wonder why this happened. Paypal said that there's $1 charge for the transfer to my bank. If the dollar in paypal is converted into peso, my money should be around 2,678 and with the withdrawal, I should be receiving around 2,628. But when I checked my ATM, what entered was just 2,300. Maybe it's BDO's service charge that cost higher. Do you know any means so that I can get lower bank charges than going through paypal? I don't know how much E-gold or Liberty converts to peso. Is there anyone here who knows how to get their earned money without paying much on bank charges?
1 person likes this
3 responses
yallit
@yallit (3677)
• Philippines
29 Jan 12
For withdrawals below Php7000, there's a fee charged by Paypal which is Php50. For withdrawals higher than Php7000, there's no fee at all. However, there are bank fees that will be charged by your local bank. That's not Paypal's fault. It's your local bank that charged that amount.
zearah
@zearah (5381)
• Philippines
29 Jan 12
You are right.I tried to withdraw from Paypal to local bank BDO, the bank has a higher charge than to the other local bank EON-Union Bank of the Philippines. The Smart Money c/o BDO charged me 250 while from EON I get the net amount after Paypal fee of 50 pesos only.
Cutie18f
@Cutie18f (9546)
• Philippines
28 Jan 12
I have the same complaint. I also use Paypal to receive Mylot earnings, but when I get the amount, it's just half of the actual amount in peso. Yes, they do rob us of the money and it's huge.
snowhybiscuis
@snowhybiscuis (1882)
• Philippines
30 Jan 12
Hello Cutie18f. If ever you find other means of minimizing the bank charges, please do tell me. I will share here as well if I find other means to decrease the amount taken from us. Do not lose hope. If there's a will, there's a way.
leinrix
@leinrix (490)
• Philippines
28 Jan 12
you are right because transfering paypal money to your bank account will lead you to extra or additional payment sometimes depends on the amount of money and also the processing fee but i havent tried transfering it yet to bank or atm
snowhybiscuis
@snowhybiscuis (1882)
• Philippines
30 Jan 12
I suggest that before you withdraw your money in paypal, let it stand for at least 200 dollars. So that when you withdraw, you will just pay one time. That's how I do it. However, considering the bank charges, it is still big. It is almost equivalent to two written articles. Anyway, I should be thankful that I still get to earn doing things that I love, and that is through writing. See you around.