Some pretty earthshaking news for people like me who work in the field we’re in: Paypal now allows funds withdrawal from Philippine Bank Accounts.
Where you sign up your bank details at your Paypal account, and they charge you P50.00 for every withdrawal less than P7,000.00.
Sign of a stronger peso? Sign for remittance services to shape up? One thing for sure: It’s a sign Paypal needs to update itself on newer Philippine currency because we haven’t used that green P5.00 Andres Bonifacio bill in like, 10 years (?) already.
I think it’s an Asian wide thing too, as the screenshots on the FAQ show an Indonesian account.
Anyway, just saw a G-Cash ad at PDI yesterday where they’re offering a remittance service, where someone sending money from abroad just sends a text with a reference number to a local beneficiary which can then be cashed at (I presume) gcash partners. How will this affect them?
Ok this is turning out to be a rant, but Globe can’t even maintain a website long enough to help people figure Gcash out. I had to make my own FAQ because as of today, here’s where it leads you when you Google ‘gcash’ and you click the first resulting URL : http://www.myglobe.com.ph/gcash/