Wednesday, December 17, 2008

Online Seller? Use Paypal! Know Your Bank Code!



This post is a bit off-topic but I believe that it would be beneficial to PHBestDeals' contacts, many of whom are online merchants. =)

There are a myriad of options by which customers can pay for the goods we sell: direct deposit to specified bank accounts, G-cash, COD etc. For the past year, Paypal is an option which many sellers based in the Philippines are adding to their sites because it not only gives them the flexibility of accepting credit card payments but also opens the door to foreign buyers.

Key advantages:
1. As the world's number one online payment service, PayPal is the fastest way to open your doors to over 150 million member accounts worldwide. You can request a payment from anyone with an email address even if they do not have a PayPal account.
2. Low cost. No start-up or monthly fees, no cancellation fees, and no minimum payments. Lower transaction fees than other merchant accounts
3. Quick setup. Sign up and get started in minutes. No extra software or hardware needed
4. Security. As an industry leader in fraud prevention and risk management, PayPal has 60%-70% lower fraud loss rates than other global merchant accounts
5. Funds can be withdrawn directly to your bank account or credit card with a max processing time of 5-7 business days in the Philippines.

To sign up or learn more, click here.


Want to withdraw the money you received via Paypal? Is your bank account properly tagged to your PayPal account?

To do this, log in to PayPal, go to My Account > Profile > Add or Edit Bank Account then fill in the Bank Name, Account Number, and Bank Code. Do ensure that you add a bank account with the correct bank code .

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