What is PAYPAL and how to use it?
I have been asked by friends and colleagues on how to open up a Paypal account in the Philippines and how to validate it once you have one. Most of them are intrigued on how Paypal really work, how and where to use it. Some may have doubts about it whether it is a legit financial service or just a scam site. Others will argue about its importance when you have a credit card on hand which can already be used for online transactions.
Paypal is a financial service that provide faster and safer way to pay and get paid online. It is a great tool both for online entrepreneur and freelance worker to get paid easily. Paypal conceals your financial identity such as your credit card account or bank account when making online purchases. It also supports 25 currencies and has localized websites such as China, Belgium and France.
With the growth of online jobs in the Philippines (such as becoming an Odesk worker, Freelancer, Forum Worker, Writer, Blogger, etc.) Paypal has become an essential tool to get paid with your online work and business. It is the most preferred payment processor of major online stores and online work providers.
How to Apply for Paypal account?
- If you are freelancer or a work at home person better choose Premiere Account
- Type in the necessary information into your account details such as your billing address and email address.
- You can either skip “Link my credit card” option or include your credit card details (if you have one otherwise, acquire a Debit Card such Union EON Card or Payooner Card) so that you can easily verify your account.
Paypal Verification Using your Credit Card
One of my friend asks, why is there a need for a credit card? Well two things, by linking your credit card account you will able to shop online without sharing your credit card information. You simply type in your paypal email and you are good to go plus, providing you credit card details online can be both time consuming (you know… you have to memorize your account number) and unsafe (phishing).
By providing your card on your PayPal account will raise your sending limit, withdraw funds from your PayPal account, use as backup funding, or confirm your address.
- If you have not yet included you credit card details on your profile you simply go to your account settings, “MyAccount” > Profile > Add/Edit Credit Card
- When signing up for Paypal using your credit card, you need to provide the 3-Digit number at the back of your credit card.
- Once you have provided your Credit Card number on your profile you will be receiving a Paypal EXPUSE (Expanded Use) which is a 4-digit number on your Credit Card Statement of Account (wait for your credit card billing) with $1.95 charge.
- To complete the verification, simply provide the 4-digit code (EXPUSE) found on your credit card statement.
- example: 1234Paypal–EXPUSE **45678910
- Go to “Confirm my debit or credit card” link found on Account Overview and enter the 4 digit code (1234) and submit
You will be receiving an email from Paypal once you have successfully verified your account. The $1.95 charge will be returned to your account upon verification. You can now receive and send payments online.
You may ask;
- Can I still receive payments on my unverified Paypal account? Yes. You can receive payments on your Paypal but you will not be able to withdraw your funds on your bank account.
- Are there other ways to verify my Paypal account in the Philippines? Payooneer Card and other debit card such Union EON Card will help you to verify your account. You can also verify it using Smart Money. I will be updating my blog soon on other ways to verify your paypal in the Philippines.