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Opening a bank account

Discussion in 'Banking - Investing - Finances' started by marc.oz, May 12, 2016.

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  1. Jens K

    Jens K DI Senior Member

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    I have my Philippines PayPal account linked to the Visa debit card of my Philippines bank account ( pesos only) , works like a charm. I never have to "top up" PayPal since everything I spend is debited directly from the card so PayPal balance is usually zero.
     
    • Agree Agree x 4
    Jens K, Mar 28, 2017
    #31
  2. KTM

    KTM DI Senior Member

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    Me too, easy as......though had to ask my bank at first to honour PayPal debits.
     
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    KTM, Mar 28, 2017
    #32
  3. DELETED-shotshapers

    DELETED-shotshapers Guest Guest User

    yes very true, you can do that for sure ( but extra charges for that, but if you have cash in your paypal balance and choose to use that then there is no fee), if you choose to buy something and only use your card as your sole means of funding then there are a few extra charges and a lot more if its sending cash to someone and using your card as opposed to having it in your paypal balace
     
    DELETED-shotshapers, Mar 28, 2017
    #33
  4. Brian Oinks

    Brian Oinks That's Mr. Pig to you Boy! :) Highly Rated Poster

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    I still have my Australian Paypal but I cannot load money as my Bank Account there is only $1.00 credit and no way to transfer money to that account without it costing a fortune! I have repeatedly contacted Paypal and after a year and around 5 or 6 contacts I am still to receive a reply. I think it is stupid that you cannot load from your Bank account like back home, do they not trust Filipinos/Filipino banks?? :o o:

    I asked my Bank about a Visa Card (BPI Bank) and he told me I cannot link it to my account where my Pension is deposited and need to open a new account, I am yet to do this and am still confused as to whether it will be a 'Debit Card' or a 'Credit Card' account... I do NOT Want a Credit Card, I only want to be able to load what I wish to upload without those thieves at Paypal having access to a line of Credit, I have read and heard too many stories of them emptying out accounts and with them not being a part of the world bank system (rules do not apply to them) they are a law unto themselves and apparently a nightmare to try and recover money stolen from your account!

    I did a lot on ebay back in Oz and miss the freedom of being able to buy what I need at the touch of a button and do not trust most other online pages like Lazada that seems to pop up in every second click of the mouse when browsing online here! :o o:
     
    Brian Oinks, Mar 28, 2017
    #34
  5. Brian Oinks

    Brian Oinks That's Mr. Pig to you Boy! :) Highly Rated Poster

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    Are you with the BPI Bank? I asked for a Debit Card and he told me I needed a Visa Card, if you are with them, then is it only a Debit Crad (as in only works on what you load into that account) or is it a line of credit where you can buy then receive a Bill at the end of the month like a normal Credit Card?
     
    Brian Oinks, Mar 28, 2017
    #35
  6. Jens K

    Jens K DI Senior Member

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    I'm with the Philippine branch of HSBC. It is just a debit card, no line of credit and every transaction more or less immediately shows up as debit in the bank account. I think most banks here by now issue such debit cards with either the visa or Mastercard logo on them. BDO and eastwest I know for sure.
     
    • Informative Informative x 1
    Jens K, Mar 28, 2017
    #36
  7. Jens K

    Jens K DI Senior Member

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    There's also prepaid credit cards, in case you want something entirely disconnected from your main account. I remember globe giving away prepaid master cards for a one-time fee of 100 pesos,these were linked to their gcash system. This was a promo in a mall in Manila couple years ago, just show an id and there you got it. don't know if they still have this on offer. Think some banks also offer such cards.
     
    • Informative Informative x 1
    Jens K, Mar 28, 2017
    #37
  8. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    They jacked about 2k USD from me. I went through the appeal process for over a year. When they finally unlocked my account they had took all 2k USD that was sitting in my PayPal account. Tried appealing again but never saw that money back. If they had pulled it from my US bank account I would have put a stop payment on their asses and let my bank gave a go at them.

    I accept sponsor payments through PayPal but the second the money hits the account I put it towards the server costs. I will never again have any balance sitting in a PayPal account....not only because they may steal it but because they make interest on the money in the account as well.
     
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    Rye83, Apr 4, 2017
    #38
  9. Brian Oinks

    Brian Oinks That's Mr. Pig to you Boy! :) Highly Rated Poster

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    I don't think no money in your account will stop them mate, I received an overdrawn notice once when I was still in oz, they took payment from my Bank Account (withdrew around $30.00+ with a $1.00 balance) on an item that someone clicked on Buy Now but never paid for. I had to go into my Bank and top up my account before they closed it and asked the Bank to reverse the withdrawal as I contested it, they told me to take it up with Paypal, never got that back from Paypal either! Paypal as far as I know are not affiliated in any way with the Banking system so operate under their own rules and are virtually untouchable.
     
    Brian Oinks, Apr 7, 2017
    #39
  10. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    The DI PayPal account is not linked to any bank or card. There is absolutely no way they can withdraw anything except what is in the PayPal account. The account balance never goes above $5 (the minimum PayPal payment Digital Ocean accepts) for more than a day or two.

    However, if you accidentally clicked the pay now option (not really the fault of PayPal) the first thing that should have been done is to contact the seller to cancel the order. If that didn't work then you contest the purchase with PayPal. (PayPal will almost always side with the buyer and f*ck the seller and sellers know this so they will usually agree...unless they are new to PayPal and haven't been taught that lesson yet.) If none of that worked then you put a stop payment through your bank. If you don't have any money in an account unlink it from PayPal immediately. It really isn't the responsibility of PayPal to make sure your account has money in it and there is no way for them to know even if they wanted to.

    My US bank let's me put a stop payment on any purchase through my online banking. However, there is a $20 fee for doing this. I wouldn't stop payment on a $30 purchase. I'd eat the $10 loss, accept the product and then, if the product was of no use to me, throw it on eBay and try to get some of my money back.

    PayPal screwed me over because I was a seller, not a buyer. I learned to NEVER sell any "intangible items" (mobile load in my case) in the Philippines. Far too many fraudulent transactions (9 out of every 10 on average in my experience). Let one too many slip through and PayPal will make your life a living hell...even if you reimburse every single one of those compromised transactions and take the loss. (IMO, if a buyer's account gets compromised it is their fault 99.9% of the time for having weak passwords or not taking proper security steps while logged on to a public computer....yet PayPal always punishes the seller for this. People need to start being held responsible for their online stupidity.) Personally, I've never had a problem as a buyer with PayPal nor have they ever attempt to take money out of my personal account for a purchase I didn't initiate. But as a seller....f*ck them!

    Are we of topic yet?
     
    Rye83, Apr 7, 2017
    #40
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