Wednesday, July 23, 2008

Withdrawal Denied at Paypal


My funds at Paypal is not that rewarding yet I still tried to withdraw my funds. The reason? Just want to know how it works and if it does really work. And so last week, I tried to withdraw my funds at Paypal and unfortunately after a week of waiting I got this e-mail from Paypal stating that my withdrawal was denied!

Dear Ms. Laborte,

An electronic funds transfer from your PayPal account to your bank account was rejected today for this reason:

Invalid Bank Account Information

Our system was not able to process the transaction with the bank information listed on your account. You should contact your bank regarding the bank account information required for electronic funds transfers. If you still need assistance, you may email us through our secure server at https://www.paypal.com/wf/f=act_verifyba

Thanks for using PayPal, the world's #1 online payment service!
Sincerely,
PayPal

I was surprised! And so started to send an e-mail to the UnionBank Customer Service about what happened and here is their reply:

Dear Ms. Laborte,
Greetings from UnionBank!

This is probably what happened:
(1) Bank account number is incorrect
(2) Name on bank account does not match what is on the PayPal account. If you have a a personal name on your PayPal account, but your UnionBank account has a business name on it, then the odds are pretty solid that it would be rejected by the receiving bank or vice versa. Exact information at your UnionBank account has to match your information at paypal. Any small discrepancy such as name, address or a number can cause a international transfer go wrong.

I've replied and told them that I've checked the details that I've filled-up at UnionBank and Paypal and they were just the same. Then, I even tried to add another Bank Account at Paypal using the same information and card number I was using. But a message prompts and said that I already have that same Bank Account so there's no need to add it again. My oh my.... What is happening here... Paypal charged my funds 250 php for the returned fee.

I also tried to contact Paypal and asked them 'What makes my Bank Account Invalid?' Here's their reply:

Thank you for contacting PayPal.

Hi, my name is Marion and it is my pleasure assisting you today. I understand that your concern is about trying to transfer funds from your PayPal account to your bank account, but the system won't allow you. I sincerely apologize for the inconvenience Ms. Laborte. Since you mentioned that you're adding again the same number but it says it is already added there, what I may suggest is you need first to remove the bank account and then re-add with the correct information.


Then there goes a long list of instructions on how to remove my Bank Account at Paypal. I am just confused... When I tried to add another Bank Account there and they said that it cannot be added because I am adding the same Bank Account information as what is on my Primary Bank Account. What's the use of removing it and adding it up again when they are just the same??? Did anyone of you experience this too? Let me know. I am still waiting for their response now... Hahay, wala gyud ko nagdahom ing-ani diay kalisod mu-withdraw ug funds sa Paypal oi!


"Live life to the fullest"

3 Reactions:

bleuken said...

are u using an eon card? if not try using it and verify your paypal account via this debit card. that's the easy way to withdraw ur money. I have this post re: my experience on paypal: http://bleuken.i.ph/blogs/bleuken/2008/02/08/how-to-make-your-paypal-account-verified-in-the-philippines/
hope it helps!

Miah Laborte said...

Yup, I'm using an EON card and I'm already a verified user of Paypal that's why I can already withdraw my funds anytime I want, otherwise I can't. Thanks for dropping by...

pchi said...

ahaha... oh, thanks to your experience... i won't have problems anymore if ever

the problem is wala pa koy kwarta sa paypal...

magkano ba ang fee sa bank transaction?

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