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Calling to all Filipinos

Discussion in 'BlackHat Lounge' started by lumpia, May 2, 2009.

  1. lumpia

    lumpia Registered Member

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    What do you mean $20? Is it the fee? What I am trying to avoid is get taxed here in Canada.
    so if I understood you right, you send your income to the US or Canada and have your brother send it back to you? he will get taxed for that, doesn't he?

    So please list the banks that can withdraw using paypal.

    any other method to withdraw this money with less cost to me?

    is this true????
    You must verify your account using credit card and add a bank account to be able to withdraw from paypal.

    OK. Paypal does not have Philippine Pesos as part of their currency list.
    do they convert the US dollar to Philippine money and at what rate or is there any fees at all?
     
    Last edited: May 7, 2009
  2. dushkarn

    dushkarn Newbie

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    Lumpia, no currently I am in the Philippines with a verified paypal acct using a citibank visa card. I have no idea of how to cash out here so what I do is send my money to my brother's paypal. For ex, last time I transferred $235 to him. He received $225. Paypal got $10 from the transfer. And then, remittance fee from US to the Philippines is around $9.

    About the tax, I also asked my brother about that. He said the tax is only when you exceed a withdrawal of $500/day in paypal. That's why there is a limit. Anything above $500/day is going to be taxed. I'm not sure myself. I'll have to research some more. I have no idea of this taxing thing. lol

    I did a little google search and apparently citibank can accept paypal payments. There are two options, cash-advanced and overpayment cheque. I have no nidea how that process goes. (try googling citibank philippines paypal)
     
    Last edited: May 7, 2009
  3. preedge

    preedge Regular Member

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    You will receive the money in PHP. Rate is a little lower than actual forex rate.

    BTW, do you pay taxes for your online earnings?
     
  4. dushkarn

    dushkarn Newbie

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    OMG..No.. lol. I haven't earned that much though. I guess it's my brother who has to include that in income tax since he's the one who cashed it out. I better check..lol

    preedge do you know how cash advance/ overpayment cheque goes? Like do I go to a ph bank and say hey you peeps owe me money from paypal give it to me!!

    Anyway, im not hijacking this thread so...for lumpia i guess if you don't wanna pay tax in canada, it should be cashed out with a bank acct in the philippines since as said by some people in this thread you don't need to pay tax when you cash out with a ph bank acct.
     
    Last edited: May 7, 2009
  5. shizaru

    shizaru Regular Member

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    Hi lumpia,

    I've verified my paypal using an EON Visa Card from Unionbank. You can withdraw money from the Eon Visa Card too in any atm machines here.

    If you withdraw your money in paypal using it, for example $500 there is a fee of $5. Then it will take 4-6 days to receive it in the EON card.
    Your brother can also check the balance of his EON in unionbank's website. You can google for EON to know more about it.



     
  6. lumpia

    lumpia Registered Member

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    I think he uses Metro bank and he is not verified so I think it is free.

    What confuses me is this statement since I have US dollars as my currency.

    ** If your transaction involves a currency conversion, it will be completed at a retail foreign exchange rate quoted to PayPal by an international financial institution, which is adjusted twice daily based on market conditions. This exchange rate includes a 2.5% fee above the wholesale exchange rate at which PayPal obtains foreign currency, and the fee is retained by PayPal. The specific exchange rate that applies to your multiple currency transaction will be displayed at the time of the transaction.


    it might not apply at all. or does it?

    dushkarn: - we are sending our money to the Philippines so we don't have to pay taxes, you are doing the opposite.. hehehe
     
    Last edited: May 9, 2009
  7. shizaru

    shizaru Regular Member

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    When paypal transfer my money to my visa card it will be in USD to Php..
     
  8. lumpia

    lumpia Registered Member

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    yeah, I know that part but does it charge you any fees?

    let's say 100 US bucks equals 5000 PHP. do you get 5000 or less because fees has been charged?
     
  9. shizaru

    shizaru Regular Member

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    If I transfer a $500 to my visa, there's a $5 fee from paypal.. so all I'll gonna get is $495.

    Then after that, it all depends on dollar peso rate..
     
  10. sharingan

    sharingan Registered Member

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    As I have experienced in a long time, No taxes. I think the PH Government doesn't know paypal at all!! hehe

    Direct deposit ko through BPI, works out fine but BPI charges only Php46 = $1 so I think that's tax already.
     
  11. deadster

    deadster Regular Member

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    basta shatap ka na lang at gawa ka lang ng gawa ng pera ;)

    ako nga ito ang nagsusuporta sa pamilya ko

    p.s. lalake si snowwhite. pag nakita ko yan sa manila bubugbugin ko yan ;)
     
  12. firstrate

    firstrate Junior Member

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    I am really interested in getting a reliable VA from the Phillipines to do some remote work on my servers, admin and reports etc.

    Where does one find such services?
     
  13. silicon_ronin

    silicon_ronin Registered Member

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    Hi Shizaru,

    I opened an account with UnionBank in Tarlac City purely for this reason

    Got my cards (EON and E-Wallet) and signed up online Friday but now have to wait two business days before using it

    So, I can verify my PayPal account with my EON card, add my UnionBank E-Wallet account and then transfer PayPal into EON or E-Wallet?

    Hope so, only reason I got it

    Anyway, greetings from Concepcion, Tarlac

    Cheers

    Ronin
     
  14. pinoyvid

    pinoyvid Junior Member

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    I don't know about E-wallet, but I verified my Paypal account using EON card. I also use it to withdraw funds from paypal, haven't had a problem. Been using it for a year now.
     
  15. silicon_ronin

    silicon_ronin Registered Member

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    Hi,

    Great, just what I wanted, will see if it works OK next week

    I'm English, but living on a tourist visa in the Philippines, with a company in the Carribean, and an office in Hong Kong - so I don't qualify for a credit card anywhere and hopefully this is the fix

    Cheers

    Ronin
     
  16. xyberk

    xyberk Junior Member

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    Check oDesk. I work there as a VA (SEO, SMM, SEM, backlink builder etc.). There are many skilled and harworking pinoys in there like me. :D
     
    Last edited: Nov 1, 2009
  17. blackbaby

    blackbaby BANNED BANNED

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    Lumpia, you can send money here via Paypal or Xoom, almost the same amount of charges apply, xoom can be directly deposited in your brothers account. But with paypal, you said that you have registered a paypal account there in canada? with your brothers information from the philippines, there will be some issues regarding that process, if you have some questions about paypal contact them directly and ask all your questions, that is what I did before. Hope I helped in a little way. ;) cheers
     
  18. silicon_ronin

    silicon_ronin Registered Member

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    Hi Crooker,

    I've been running my businesses offshore now for 20 years and a lot depends on your residency as well as your citizenship

    I use a British Virgin Islands company that pays zero tax on income, and operate from a Hong Kong office where the HK government classes all offshore income as tax free. I have a HSBC HK bank account which is secure and HK is not subject to the info swapping rules of the USA, EU etc. HK is fast replacing London and Wall Street as the world financial capital in any event. My citizenship is British but as I don't live there I don't pay any tax. I live in the Philippines where I'm only taxed on local income, but I don't earn any here so I pay zero here as well.

    The key is I live offshore. Canadian residents MUST pay tax in their global income unless they physically move out of Canada and severe their residence. US Citizens must pay tax on global income as part of their citizenship whereever they live.

    You can dodge this but it is not legal, the authorities are getting smarter, and you face jail time if caught. The best option for a Canadian is to leave Canada and for an American, to move overseas and renounce their US citizenship.

    Or, fess up and pay the taxes...

    The company link you have for CMS HK is one of the newer companies and I don't think I'd trust them over an older established one there. They don't list their fee schedules, they ask a lot or unrequired questions on their forms and make claims on banking that I know to be incorrect.

    Hope that clarifies things...

    Cheers

    Steve