My PisoPalit Experience (Encash your PayPal Funds!)

Saturday, February 21, 2015

I make an extra income through my Etsy shop. All payments are made via Paypal and because of this, I have to find other ways to encash the payment I get. Unfortunately, local banks charge too much and it takes few days before your money gets to be deposited to your bank account. I did my research and have found few companies that offer encashment services here in the Philippines. I tried navigating their websites first and check how user friendly their platforms are. I found PisoPalit the simplest and they got a really catchy tagline: Juan just wants it fast!

First thing I did was to Sign Up and fill in all the required details. You will have to wait for your account to be verified. I do not know how long they usually verify a registration but mine took only few hours and good thing that they have accomodating customer service. While I was waiting for my account to be verified, I made my profile and selected which encashment method is most convenient for me. It was LBC Remittance that time. They have few options that you can check.

Since it was my first time, I didn't want to withdraw all my Paypal funds. I requested for a 1,500.00 Php encashment. PisoPalit charged 100.00 Php for the fee plus 75.00 Php. Aside from that, there was a Paypal fee too. So basically the Net amount I got was 1,305.00 Php. It was already night when my request got approved so I was able to encash the money the following day. If I requested the encashment at an earlier time, I probably got it the same day. But it wasn't really an issue for me.

I'm looking forward to my next encashment with PisoPalit. I'm just glad that it won't be hard for me to encash my Paypal funds anymore. Kudos to the PisoPalit team and keep up your good job!☺

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