PayPal

One of the things that homebased workers need to take into consideration is payment method. Although there are about a thousand of acceptable and convenient payment methods, I think using PayPal is the most popular.

Years ago, I thought PayPal was only used for paying for stuff bought online like Ebay transactions. PayPal has expanded its services and markets and a lot of transactions can be made through PayPal. I would like to recommend telecommuters to have a PayPal account. It's easy and convenient to use.

I'm sure some Filipinos are skeptical to use PayPal. They probably think it would be hard to withdraw funds or fees are big. The fees are reasonable, just make sure you do not make a mistake in adding your bank account information.

For transactions of at least P7,000, there is no fee or charge. For transactions below this amount, a P50 fee will be charged to your account. This is not bad at all. If you make a mistake in entering your bank information and then try to withdraw, you will be charged P250 when you try to withdraw.

My Aunt has been using PayPal for quite some time now. She recommends using Union Bank's Eon card. It's a debit card that can be used to link your PayPal account to. There is an annual fee for the use of the card which is P350. This means you can link your account to this debit card instead of linking it to your savings account or having to open a savings account. Not bad at all. For more information on how to use the Union Bank Eon card visit the guide to using your UnionBank account to withdraw funds from your PayPal account.

If you have an existing account but you do not know your bank code, visit this page where I found mine. Visit Pinoy Money Talk's complete list of PayPal bank codes.

Create your PayPal account now.