Note: Paypal cannot make a charge for verifying the card if your email address was not included in RCBC’s system, so you better fill out the email field during application)
For the application process, I just presented my police clearance (I have no other valid ID card at that time, as I have surrendered my company ID when I resigned and great, I lost my postal ID). I had to photocopy it for bank records purposes. I made an initial deposit of PhP 120.00, activation fee included. I was then advised to come back after a week to claim my card. And so I got it and happily went home to have my Paypal account verified. Once I linked the card, I immediately sent an email to their contact center to request the expanded use code be sent to me through email. After five hours, I received it, and had my Paypal account verified after a few minutes.
I have added it as my bank account on Paypal for withdrawal purposes. The first few withdrawals, I only got charged PhP 10.00 each (there’s a PhP 50.00 fee for Paypal withdrawals below PhP 7,000 though). Transactions went through within the given time frame (2-4 business days). So, to sum it all, I was pretty satisfied with the service.
The experience was good until recently, something went amiss. I’ve transferred my Paypal funds to my MyWallet account. The funds did not arrive until after 5 days (if they say 2-4 business days, I expect the funds on the fourth day). And, I also found out that they funds I transferred did not match the account balance on my RCBC account. I was only expecting a PhP 10.00 fee for the transfer but it turned out I was charged an extra 100. It may not be a huge amount, but as a customer, I should be made aware about changes on their banking fees. I only learned about the “foreign fee” they’ve deducted from my account after I sent them an email. I was so frustrated that I lashed out on them through my email that the changes weren’t well-communicated to customers. It’s not even on their website.
It was disappointing, knowing that RCBC is not transparent enough for small clients like me. I don’t really know how they treat their big-time clients. I just hope they make it a point to let all customers know about any changes as soon as they implement those.