My latest Paypal withdrawal amounted to $157 USD. I tried to avoid paying the P50 transaction fee when transferring funds from Paypal to Philippine bank accounts so I emptied my Paypal account and withdrew everything. To my horror, I found out later that Banco de Oro (where my savings account is kept) charged me P200 as electronic fund transfer (ETF) fee.

When I did a research on it, I learned that some local banks in the Philippines that are Paypal-friendly imposes such a fee. The amount is actually standard for these banks. The good news is, Landbank of the Philippines is the only Philippine bank I know that does not charge an ETF fee to Paypal transfers. Or so the Landbank banker told me the other day.

This is a lesson learned. Next time, I'll use my Landbank account when converting my hard-earned US dollars to Philippine peso.

Are you aware of this extra payment you make every time you transfer funds from Paypal to your local bank account? What are your thoughts about it?

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I was ecstatic last week. It was my fourth $100 Paypal withdrawal and I was just too happy. Little by little, my paid blogging efforts are bearing fruits. My Google Adsense, on the other hand, is also improving. From a six-month wait before reaching payout, I am now down to three months.

My short-term goal is to have a $100 Paypal withdrawal once a month. This is easy considering the amount of offers I get from paid blogging sites. I'm saving up for Christmas and it seems I'll be able to meet my savings goal, too.

How about you, how is your make money online efforts? :)


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