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Paypal Sign-up and Activation For Filipinos (Philippines)

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Posted 29th August 2011 at 08:01 AM by rapidscc

I was talking to a friend a few days ago. We were talking about how I'm earning online.

I discussed some of the basic ways to make money like writing articles and selling ebooks.

When we came to the point on how to claim the payment, I said I claim payments via PayPal.

I was surprised to learn that he has no idea of PayPal and how to sign-up and activate a paypal account. So I decided to write this article for fellow Filipinos who doesn't have a PayPal account yet.

Why The Need For PayPal

Presently, PayPal is one of the biggest payment processing sites online (that is if they are not the biggest).

If you have any plans of accepting payments, PayPal should be the first site you should visit.

There are other alternatives, specially if you are already making a lot online. Some internet marketers recommend having your own merchant account to process credit cards, however if you're just starting, a PayPal account is your best choice.

How To Sign-Up

1. Visit Http://PayPal.com - Just below the account login box is a sign-up link. Click it and a new window will open up. Provide a real email address and your name and other personal information along with an address that will match up the information on your credit card or debit card. If you don't have one yet, it's alright. Later in this article we will discuss how to apply for a unionbank eon account.

Note: Make sure you remember the email account you used to sign-up. This is what you will use to pay and receive payment using paypal

2. Activate Your PayPal Account - If you have a mastercard or visa card, then you can easily activate your paypal account. You need it activated so as to remove limitations on the amount you can receive and to be able to withdraw.

The name on your credit card should match the name you declared on your paypal account.

This two steps should be enough to have your paypal account ready to receive and issue payments. However, if you don't have a credit card here's what you can do:

Apply for a UnionBank Eon Account

Go to your nearest Unionbank branch and apply for an Eon account. I can't recall the exact amount for opening the account but I think it's less than 500 pesos. So better bring around 500 pesos to be sure. Also bring along two valid IDs - A drivers license and postal ID would work well or maybe a company ID and any other government issued ID.

This process will take two weeks. So while you can receive payments to your paypal account you won't be able to withdraw anything until you receive your Unionbank EON card and validate your paypal account with it.

Using Smart Money To Validate Your Paypal Account

Another card you can use is the new Smart Money Mastercard. It's faster because you can get a smart money card in as fast as a few hours on any smart wireless center. You can use the smart money card to validate your paypal account but you can't use it to withdraw.

So the best option at present is a unionbank Eon Account.

By the way, you'll also need to specify your banks' code when you add it in your paypal account. Don't bother asking this code from your bank representative. They have no idea about the this coding scheme. I think it's an internal paypal coding scheme for banks here in the Philippines. (Though I'm not sure about it.)

Here's the list of banks along with the assigned bank codes

ALLIED BANKING CORP
010320013
AUSTRALIA NEW ZEALAND
010700015
ASIA UNITED BANK
011020011
BANGKO SENTRAL NG PILIPINAS
010030015
BANGKOK BANK
010670019
BANK OF AMERICA
010120019
BANK OF CHINA
011140014
BANK OF TOKYO
010460012
BANCO DE ORO (& EPCIB)
010530667
BANK OF COMMERCE
010440016
BANK OF THE PHIL ISLANDS
010040018
CHINA BANKING CORP
010100013
CHINA TRUST COMML BANK
010690015
CITIBANK N.A.
010070017
DEVT BANK OF THE PHILS
010590018
DEUTSCHE BANK
010650013
EAST WEST BANK
010620014
EXPORT & INDUSTRY BANK
010860010
FUJI BANK
010640010
HONGKONG AND SHANGHAI BANK
010060014
INTL COMML BANK OF CHINA
010560019
INTL EXCHANGE BANK
010680012
JP MORGAN CHASE BANK
010720011
KOREA EXCHANGE BANK
010710018
INTL NEDERLAND BANK
010660016
LAND BANK OF THE PHILS
010350025
MAYBANK OF THE PHILS
010220016
METROPOLITAN BANK & TRUST CO
010269996
PHIL BANK OF COMMUNICATION
010110016
PHIL TRUST COMPANY
010090039
PHIL NATIONAL BANK
010080010
PRUDENTIAL BANK
010150018
PHIL VETERANS BANK
010330016
RIZAL COMML BANKING CORP
010280014
SECURITY BANK & TRUST CO
010140015
STANDARD CHARTERED BANK
010050011
UNITED COCONUT PLANTERS BANK
010299995
UNION BANK OF THE PHILS
010419995
UNITED OVERSEAS BANK
010270189

One last thing

After getting your account activated, don't be surprised if one day you'll receive a notification from Paypal that your account will need additional verification.

This happened to me after about a month or more of using my account.

I think this is just Paypal's way of verifying authenticity of the declared account.

Though it was a bit alarming it was resolved immediately (I think the same day it happened). I received an email from them asking for more credentials.

So what I did is I scanned a copy of my other id's, proof of billing and other official ID's and sent it to them. After that it was all smooth sailing with paypal.

So there you go. I hope you learned a thing or two from this article, but most of all I hope I gave you that slight nudge of encouragement to start building an online income as well.
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