Opening Paymaya account in Philippines is completely free and there is no fee to open Paymaya account. You can create Paymaya account online from Paymaya website only.
PayMaya is an incredible alternative from withdrawing your funds from Pay Pal. Instead of PayPal-to-bank, which generally takes 5-7 days. With PayMaya you can already transfer your funds from PayPal to within just a few minutes. Prior to your withdrawal, PayPal will charge your fund for ₱250.00 as transaction fee because PayMaya is detected as Visa card.
In order for you to avail this service, you must sign up for a PayMaya account. Then link your PayMaya Visa Card to PayPal. But before you link it, make sure that your account has a remaining balance of at least Php 100.00. PayPal, do an authorization hold for verification purposes. Once your account was verified, the amount will be returned. PayMaya serves as a virtual credit card which you can use for any online transactions that acknowledge Visa payments.
If you wish to have a physical PayMaya card, you can buy it to Smart Jump Centers or you may order it on their website. There are two kinds of cards. The PayMaya EMV Card Bundle of 3 which ₱395.00 and PayMaya EMV Card. The only difference between the two cards is the latter comes in a single quantity. If you can’t pay the card online, you can have it for cash on delivery. However, the delivery will only take three attempts. After, that your order would be canceled. Currently, PayMaya offers a free shipping while the delivery takes 5-7 business days for Manila areas and it takes 10 business days for Provincial areas.
Can Overseas Filipino / Foreigner send Money to PayMaya?
Filipinos from abroad can send Money to any PayMaya accounts. Provided that, they also have an account. A foreigner can do as well, as long as the information provided during the sign up for an account was accepted by the system. For OFW’s, you can also ask your relatives in the Philippines to load your up your account.
The only thing is, OFW’s and foreigners have few alternatives in loading up funds in their PayMaya account. In order for them to load it, the best thing they could do is to transfer their fund from Pay Pal to their PayMaya. In this manner, they send money to PayMaya.
PayMaya vs. Credit Card
PayMaya is the best alternative for credit cards. Compared to applying for a credit card you need to present a lot of documents and at least you meet the minimum monthly or annual income required by the company. Together with some terms and conditions. If you haven’t met one of these. The result could be very frustrating. Your application will be rejected.
Aside from documents free, it is also hassling free and the application is affordable, along with this your account and your physical card are also secured like how credit card companies secure their clients.
All you need to do is to sign up for an account and you’ll get your PayMaya virtual Visa card. Download the PayMaya application from google store and you can already use your virtual credit card through your smartphone. If you want to use your physical card, you must link and activate it using your PayMaya account. You can use the physical card to withdraw from any ATM’s with BancNet logo either locally or internationally. Using either a virtual card or physical card you can do cashless payments to any physical stores and online stores that accept Visa payment like:
|Booking for flights||Buying for movie tickets||Online Shopping|
|Booking for hotels||Buy stream credits||Order food online|
|Book for an Uber||Buy for concerts tickets||Shopping at SM|
|Reservations||Buying for online apps||Shopping at Robinsons|
|Pay utility Bills||Subscribe to Netflix||LRT/MRT/Buses|
If you want to use PayMaya Visa card for LRT, MRT, and Buses, you must have PayMaya Visa Card with Beep. You can buy this card on the 44 stations of LRT1, LRT2, and MRT3 or in the Ticket Vending Machines (TVMS) as well as in the BGC Bus Ayala and Market! Market! Terminal. For buses this only available in Citylink’s McKinley Hill to MART Magallanes- San Lorenzo Place route, HM Transport Airport Loop, and BGC busses. To identify it easily, buses that accept Beep Cards carry the Beep logo on their buses. Remember that your PayMaya Visa Card Wallet is separate from your Beep Wallet. In that case, you can only load up your Beep card on the places where you can purchase it.
Another good thing about PayMaya virtual credit card is it help account holders, to stay away from debt caused by being “swiper.” Unlike credit cards, you can manage your own funds so, you’re aware when to use your PayMaya card because what you use is your own money and you cannot go for over spending.
As of this time, you cannot transfer your funds from PayMaya to different banks. What you can only do using BDO and UnionBank is to load up your account through their mobile banking system.