PayMaya announced today that freelancers and online businesses can now withdraw their available PayPal funds by simply linking their PayPal accounts directly to PayMaya. This unprecedented move comes right on the heels of PayMaya’s historic working agreement with Smart.
Basically, PayMaya eliminates the need for financial institutions, fall in long lines, answer forms, and secure a minimum initial deposit. All they need to do is download the PayMaya app from the Google Play or the App Store to have an instant virtual Visa card which they can immediately use for transactions including PayPal transfers.
As part of the announcement, users can enjoy 80 percent off PayPal’s withdrawal fee, from September 22 to December 21, 2016. This discount applies when they transfer their available PayPal balance to their PayMaya account. When the transfer completes, users can then withdraw the funds from any Bancnet ATM with the physical PayMaya card. Alternatively, PayMaya acts as a possible payment method for any stores that accept Visa.
These are the steps to avail of the promo:
1. Get the PayMaya app and create a PayMaya account.
2. Get the PayMaya physical card at the official PayMaya Store and link it to the PayMaya app.
3. Upgrade your PayMaya account via the app, in order to withdraw money.
4. Link PayMaya and PayPal via the ‘Link a Card’ feature on PayPal (have at least PHP 100 in your PayMaya)
5. Transfer your funds via the ‘Withdraw Funds’ on the summary page of PayPal. Minimum withdrawals are at PHP 500.
For more details about the promo and for the step-by-step guide on how to make PayPal-to-PayMaya fund transfers, visit this PayMaya webpage guide. If you want to know about PayMaya itself, visit their website.