Paypal members in the Philippines and Indonesia gets a very early new year’s treat with the introduction of direct local bank withdrawals made effective yesterday. I an email announcement to all users on both South-East Asian countries, Paypal will now accept funds in their respective local currencies.

This feature was only previously available with US-based bank accounts. This is now possible for Paypal members in Indonesia and the Philippines on top of the existing methods (credit card, debit card or prepaid cards).

For Indonesian users, withdrawals of IDR1.5 Million (Indonesian Rupiah) or more are free. For withdrawal amounts of less than IDR1.5 Million, there will be a fee of IDR16,000. For Philippine users, withdrawals of Php7,000 or more are free. For withdrawal amounts less than Php7,000 there will be a fee of Php50. If you still have a US-based Paypal account, withdrawals to a US-based bank will incur a $5 fee.

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