Deetsie's Heroic Dailies

I feel so agitated.  For a very long while now, I just can’t get my PayPal business account verified.  My fault, I should have just upgraded my verified personal account.  But I did not, thinking I would not like to merge my personal funds with business.  So I created another one.  So silly of me to use my maiden name that is no longer attached to any other bank account except for my Philippine USD account that PayPal will not accept. And I can’t move out now because funds are already coming in.  Arrrrgh!  I can’t send any money to the verified account and the money is stuck in there until I send an electronic copy of my marriage contract to PayPal.  How inconvenient.   This is not the only problem I had with this account.  I tried adding by BDO account that was using my maiden name for years but I had changed it just a couple of months ago.  And because of the inconsistency, Paypal deducted around P200++ 7 times from my account!  I had to contact their customer service rep to reverse the charge because none of my attempts worked out anyway.  They did return the charges.. after 2 months! Paypal is just soooo quick in accepting funds but are sooo slow on everything else.  I do have Moneybookers as an alternate for 4 years now but  i never got to use it.  If only the web is not sooo into Paypal.

Paypal sure has a lot of issues.

Good news to all PayPal users in the Philippines.  PayPal, Inc. has amended their User Agreement and Payments Policy effective 2 days ago, 14th of October, 2009.  The Payments policy and buyer protection policy are modified to include Philippine Peso as a holding currency.  Other currencies added were Taiwanese Dollar, Thai Baht, Malaysian Ringgit, Argentinean Peso, and Brazilian Reais.

This simply means you may now set your main currency to PHP and no longer with USD. Before this amendment, all PayPal transactions done by accounts set-up in the Philippines has to convert the amounts to any of the unrestricted currencies like USD, GBP, AUD or EUR.  PH PayPal accounts are used mainly for receiving USD payments. The sending option is only available if and only if your PayPal balance is funded. But now, we can add a Philippine Bank account as source of funds to facilitate more transactions.  We can now withdraw funds FROM our PHP bank accounts and add PayPal balance to do Mass Payments, issue e-checks, etc. In the past, only USA bank accounts can be used for these transaction types. I’m super excited about this development.  I just created a business account and will now go full swing with my online business.  I believe this is going to make a lot of difference in the Philippine’s web presence.

You may check the PayPal Amendment on Payment Policy here.