As the demand for freelance jobs increases, many online workers find it difficult to withdraw PayPal funds from local banks. This factor is contributed by regulations governing the use of PayPal accounts in many countries. Some countries do not have local banks that support PayPal funds withdraw such as Kenya, This aspect creates a lot of problems in drawing your funds. What happens is that you have your money stuck on your PayPal and you only use it to buy goods online.
To try and circumvent the problems, many PayPal account holders use third party means of withdrawing their funds. This is not only contrary to the rules of PayPal but also risks your account being suspended. In addition, the third parties charge high commissions leaving you drained of your hard earned money.
However, I have obtained the debit card and have used it for the last one year. It has saved me a lot of money which is could have lost to third party agencies. This card is issued free of charge and mailed to you wherever you are. The application process is easy as long as you give the details correct. From my experience, I have noticed that during the application process of this debit card, the address seems to be the most challenging parts.
Many people only have postal addresses and do not have street or physical addresses. When you are applying, you have to give both physical or street address and your postal address. The card is mailed to you through the postal address you provide. The physical address is for record purposes to show where you stay. This physical address should not be a business physical location but your real home physical address which shows the house, apartment and street where you live in your country.
When you have given these details, your application is approved. Even when it is disapproved in your first application, you can make the changes they require and re-submit the application again. Besides, when the debit card has been approved, you also have to request for US payment service. This card is issued by a US card issuer and before you withdraw the money to the card, you have to be granted the US payment service.
This is pretty simple and all you need is to fill out the form you are send. Once approved of your US payment service, you are given details of the bank where your funds are deposited from PayPal. It is a US bank checking account. You get all the details and how to go about in funding your account from with your PayPal money.
When you have received your card, and the checking account details, all you need is to go login in your PayPal account and go to withdraw button and then withdraw your fund to the checking account you are given through the US payment service. Remember, you cannot withdraw the funds if you do not have that US payment service details even if you have received the card.
Benefits of using the debit card
• The debit card is issued free of charge
• The issuer only charges 1% withdraw charge to the debit card account
• PayPal does not charge you to withdraw the money to your US checking account. It is FREE
• It takes about 3 days for the money to reflect in your online debit card account. An email is sent to you notifying you that your debit card has been loaded.
• Withdrawal charges are very minimal about $ 2.5 per one ATM withdraw even if you are withdrawing $500 or more
• You save a lot of money because the fees are very minimal
• You do not have to use third parties agencies which are otherwise not authorized by PayPal
• You do not risk you account being suspended by PayPal
Disadvantages
• The card issuer charges an annual fee of $29 dollars however, considering the amount you save from the fee charges charged by third parties, this is negligible amount. It is really nothing and you do not feel the pinch.
• Although the card is send to you free, when you lose it, you are charged some amount for replacement.
Surely, this is the only way you can get hassle-free withdrawal of your PayPal funds since you eliminate the high charges you are charged by third party agencies, which are not licensed. You can apply for your debit card. IT IS FREE
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