HSBC accepts paypal and alertpay
By pierrella
@pierrella (1087)
Philippines
March 3, 2010 9:23pm CST
Hi guys,
I just discovered recently that HSBC accepts payment from paypal and alertpay. Last week, as some of you know, I inquired with Union Bank and I was also looking for another alternative. I have an existing savings account at HSBC and I just tried entering it as my bank in paypal. Few days after the verification process, HSBC called me up to inform me that I received the 2 small amounts from Paypal :)
Of course, there will be no annual fee (like the EON card). However, there is a $5 fee per transaction. Now it's up to you which one you prefer.
Enjoy!
1 person likes this
9 responses
@Ingkingderders (3832)
• Philippines
4 Mar 10
Wow, that's a big transaction fee though... You would have to really wait until you get a big amount before you can withdraw cause 5usd is such a big amount already, considering, online earnings are really small..
I think I would stick to my EON account, because atleast there's only a dollar fee per transaction. I don't mind the annual fee though, cause atleast that's a one time payment.
@sharlionse (739)
• Philippines
4 Mar 10
Is it really just one dollar per transaction with EON? Does paypal also credit some dollars when you transfer your money from paypal to EON?
@Ingkingderders (3832)
• Philippines
5 Mar 10
when you transfer money from paypal to EON, the transaction fee would be 50php for transactions below 7kphp I think, if it's over that then there would be no fee. Though EON has an annual fee of 350, but I think that's fair enough.. I usually withdraw my money when it reaches around 50usd, and I really don't mind the 50php transaction fee that is deducted by paypal.
@strawberrychocodahi (4818)
• Philippines
4 Mar 10
I still prefer Union Bank EON, because as what you have said, HSBC has a $5 deduction fee per transaction wherein EON, you only get charged 50 pesos deduction per transaction. What is 200 pesos as an annual fee? when if you withdraw your money from HSBC, you get deducted 230 pesos every time you decided to withdraw an amount.
I have nothing against HSBC, they are a strong and dependable bank. But I am already at ease with the way EON system because I can also check my online savings online, anytime I wanted to.
I don't know about Alertpay since I haven't used that e-wallet much on my online earnings, even if I have what.. $10 there. I still like to use Paypal on paying and receiving money online.
@candyfairy21 (2039)
• Philippines
4 Mar 10
Hi,
I'd like to know about Union Bank eon card when using paypal. If I understand correctly what you are saying that every transaction made with eon a 50 pesos charge is deducted from the balance? I have applied for paypal but has not yet linked any bank account as I am searching for a good one. I have landbank but I don't know if paypal would accept it. by the way how much did you pay when you applied for the eon card?
@iharidh (308)
• Indonesia
4 Mar 10
I am using local bank to link it to paypal. Still, I got verified by paypal. Verification by paypal means that I can withdraw money from paypal unlimited. But the local bank which I use to link don't bother to tell me anything. I don't know the reason. But I can think of that HSBC is a world's class bank, so they maybe very sensitive to update in financial evolution like this.
But paypal states that use can only add fund, if he/she link the paypal account to the American bank account only. Well, that's unfavorable to me.
@bnx2212 (712)
• Philippines
4 Mar 10
Yes that's the second option, linking your bank account with paypal.. But I still prefer using the eon card since it works like a credit card. You can bring that anywhere in the world, withdraw from atm, dine and even shopping using the debit card. You can even shop on eBay since eBay is only accepting paypal with verified debit and credit card.
I've tried that when we visited Qatar for 20 days, but just make sure that your debit card has funds.
@allen0187 (58582)
• Philippines
4 Mar 10
never really liked hsbc.
that bank tried $crewing me over a loan i had with them. i was trying to pay the loan in bigger increments to lessen the interest but they were pulling all kinds of underhanded tricks to lengthen the paying period so they can put more interest in my loan. really shady people down there. i have an eon card but i only used it for verifying my paypal account. i withdraw funds from my paypal account using my savings account with bpi.
@tyra005 (151)
• Philippines
4 Mar 10
Well that is great but I don't have HSBC. I want to try another bank like BDO but they said it will take long time if I will choose BDO so I guess that EON from Union Bank is much better. Anyway, I am using my paypal earning in purchasing items online and use it personally. I enjoy what I am doing here and enjoy shopping online. If i know someone who has an HSBC I will inform them. Thanks.