Not Allowed: Paypal Transfer to your Dollar Account
Since the Peso vs US Dollar is now at it’s lowest I finally decided to open a dollar account at China Bank Savings. They offer the lowest amount to open one ($100) and lowest amount to earn interest ($200).
The requirements to open one besides the $100 dollar is that you need to have a savings account with them for at least 6 months (as far as I can remember). I guess it’s the same with other banks as well.
My goal to open one is to connect my payout from Google Adsense here. They have announced kasi na they will remove Western Union payout since 2020 (though for small amount they still allow payments using this medium).
Anyway, this blog post is about Paypal payment. My friend who also has a dollar account informed me that her bank said that they do not accept payout from Paypal. But to see is to believe, I also thought that it might depend on what bank. Her account is from BDO and as mentioned, mine is China Bank Savings.
The other day, I tried withdrawing from Paypal and connected it to my dollar account. But unfortunately, it didn’t push through and what’s worse, they deducted P250 from the amount I transferred when they returned it to Paypal.
So, ayan, ang baba na nga ng exchange rate ng Paypal vs actual exchange rate hindi pa pwede mag withdraw through your dollar account. Kaya wag nyo na subukan, sayang ang P250 charge.
If you know any other options on how to withdraw your earned dollars via Paypal and receive in dollars not in pesos, please comment down below and let us know.