Perfect Money is one of the well-known payment processors among online workers. However, in the Philippines, only a few are using this processor because they are facing difficulties in transferring the fund they have on their Perfect Money account to any Philippine Bank. It is because Perfect Money does not support bank transfer transaction in the country.
If you are working online from the Philippines, you need to spend more time and effort in order to do your job. Oftentimes, we spend sleepless nights in order to earn a considerable amount. We are usually awake and working during wee hours while almost everyone is fast asleep and we need to adjust our time to match the schedule of our clients who are mostly from other countries, particularly US or UK. We employ twice the effort of other nationalities for the same amount of income. On the positive note, we are blessed to be given this opportunity.
Given all the circumstances of working online, we need to ensure that the money we earned from working hard be received on time. We are fortunate if the site we want to work with offer PayPal as a payment option. We can transfer our fund directly to our bank account. But for those sites that do not include PayPal as a payment option, it may be difficult for us to withdraw our hard earned money.
Because of this, we tend to stay away from these sites because of fear that we might not get our money. Doing so will limit the amount we can earn. Instead of maximizing our time for working on some good sites, we only concentrate on those sites with our preferred payment processor. Let it be known that sometimes work might not be available at all times. So having a wide selection of sites for us to work with would be an advantage.
With the current improvement of the money transfer system, we can now receive funds from different payment processors with ease. It doesn’t matter what payment processor you have, you will definitely receive the money on time.
Change in Payment Processor
When one of my sites, stopped paying through PayPal, it became a big challenge for me since I already get used with that payment processor and can transfer the fund directly to my bank which I only have to wait for 2 or 3 days and, presto! I have my money. Using another processor would bring me another issue over and above all the other problems I am encountering. But just the same, I need to find a way in order to withdraw my money.
I spent time trying to find ways on how I could withdraw my money to my bank. Most of my online friends were also facing the same situation and some of them resorted to obtaining the services of an online money exchanger. Knowing the high fees involved, I set aside this option and continue with my research. After exploring, researching, and visiting several forums, I was able to find a solution.
Allow me to share it with you. I hope you got some ideas from this post.
If your site offers Perfect Money and/or Payza as payment options, you might find it difficult to withdraw your fund since they do not offer direct transaction with banks in the Philippines. This is probably one of the reasons why our countrymen limit the engagement of sites offering Perfect Money and Payza as payment processors.
But this is not a problem anymore. We can receive our money even if we are in the Philippines.
While others are busy trying to find ways on how they will be able to get their money to their local banks, I also explored several ways and was lucky to have found a way which I believe the best way to receive my hard-earned money.
I converted the amount to Bitcoins!
Technically, I was already engaging in several Bitcoin activities like visiting forums, visiting sites and doing some simple tasks in exchange for a little amount of satoshi every time. But the issue between PayPal and some of the sites came in a little later.
I have several Bitcoin Wallets where I stored my coins and sometimes in 2014, a local company by the name of coins.ph. I opened an account for the purpose of having a local wallet which I deemed necessary because it would be easier for me to transact business with a local company.
Open your Coins.ph account here.
When the issue between the major online processor and several sites happened, I have some amount in my balance which I have yet to withdraw. We were required to open another payment processor, otherwise, we won’t be able to get the money. That was what I did. I opened a Perfect Money account.
I received the money to my payment processor but the problem now was how I would send my money to my bank?
That was when I tried to find a way to resolve my problem.
Steps in Transferring Fund from Perfect Money to Coins.ph
Basically, you need to have an account with Changer.com. This is a third party where we will be using to convert the amount from US dollar to Bitcoins. You may use this link in order to create an account, http://www.changer.com/?refid=83422
1: Log in to your Changer.com account
2: Choose Perfect Money from the left side (SEND)
3: Choose Bitcoin from the right side (RECEIVE)
4: Enter the amount you want to transfer
5: Enter the Bitcoin Wallet address you want the bitcoin to be sent and click EXCHANGE
The whole transaction will be completed in seconds, you don’t need to refresh the page.
Once the amount has been credited to your coins.ph account, you can send it directly to your bank.
Steps for Transferring Fund from Coins.ph to Your Bank
Make sure to log in first to your account with coins.ph
1: Click CASH OUT on the top menu
2: Select from the different options you want to receive your money. I am using RCBC wallet.
3: Enter the amount you want to withdraw.
4: Enter the account holder’s name Account number and Mobile number of the recipient (optional)
5: Click Complete Payment
The process is almost instant. You can withdraw the money from your bank after the transaction. I would usually transfer the amount using the coins.ph mobile app while I am at the ATM booth. This is very convenient on my part to withdraw cash from coins.ph.