Now, here’s one more good news.
According to the Bangko Sentral ng Pilipinas (Central Bank of the Philippines), almost half of the families of Overseas Filipino Workers (OFW) are now saving and investing part of the remittances they are receiving.
PNB’s ‘no maintaining balance’ policy for OFWs
A Philippine Daily Inquirer article reported that the Philippine National Bank (PNB) has been implementing a “no maintaining balance” policy for overseas Filipino workers (OFWs) and their dependents since 2007.
Paypal withdrawals still pending after 3 weeks
Paypal users in the Philippines rejoiced when Paypal started allowing the direct withdrawal of funds to bank accounts. However, those who initiated a withdrawal before this feature was offered have nothing to be happy about.
Some of them have reported that their withdrawal transactions are still pending after 3 weeks.
FAQ: How to withdraw PayPal to bank account in the Philippines
Here are some more information regarding the new withdraw to bank account feature of PayPal that it started offering late last week.
Withdraw PayPal via Xoom from same country — allowed or not?
One of our members, Joanna (ani*****@gmail.com), wrote to tell us about Xoom.com‘s confusing policy on intra-country transfer of PayPal funds.
Joanna wants to convert her PayPal funds to cash via Xoom. She contacted Xoom to inquire whether it is indeed possible to make an intra-country transfer, that is transfer funds from a PayPal Philippines account to an account holder in the Philippines.