Regarding Setting Up a Paypal and a Bank Account

Thanks for raising the question about setting up PayPal. Here's the answer.

Sign up at PayPal for free. First, you can sign up at www.PayPal.com for free. It is a secure way of sending and receiving money online. They are a subsidiary of eBay. I signed up for their Premium account, which is also free and offers much lesser charges compared to the Basic account, for transactions such as withdrawal to your bank account and/or card.

Open a suitable bank account, or use your VISA card / MasterCard / American Exoress. The next thing you need to do is to open a bank account that supports PayPal. That is, go to your nearest bank and ask if they offer an account type that accepts PayPal. For the Philippines, you can apply for Union Bank's EON Cyber Account. (For a step by step instruction of setting up PayPal and Unionbank EON Cyber account, click here.) VISA, MasterCard, and American Express cards are also acceptable.

If you have any problems with finding a suitable bank, then try out Xoom.com, which offers an alternative way of payment.