A lot of people who are into money making online are concerned whether or not they can use Smart Money card to verify their PayPal account as they don't have any credit card to use. The answer to this question is YES, Smart Money card is a debit card with a Mastercard logo on it. In short, PayPal recognizes this card and can be used to verify and lift your account limit, only after then you can make a transfer of your balance from PayPal to your bank.
If you have a Smart Money card for remittances, you can use it to verify your personal PayPal account. You may like the fact that there is no annual fee to be collected for your Smart Money. The card fee or your ATM/debit card fee is around Php30 only. Every 3 years, after your card has expired you will immediately receive a replacement card with the same ATM number and pin/password. What you only need is to activate the card.
Is it advisable to use Smart Money card to verify your PayPal account? The verification process is similar to all debit cards, you need at least Php200 to be deposited in your account, in which from, PayPal will deduct as transaction fee an amount around $1.49, but will be transferred back to your PayPal balance after the verification process. It is just part of the transaction and the amount won't totally disappear.
One of the main reasons why Smart Money card is convenient to use, is the fact that you will receive a notifications or text messages once any amount is deposited into your account, letting you know that a deposit was made as soon as your money is received into your account.
Also, when verifying your PayPal account, you need to take note of 2 small amounts that PayPal will be depositing into your account and enter these amounts on your PayPal account to complete the verification process. Usually these small amounts take 3-4 working days before it reaches your bank, and with Smart Money card text notification feature you will immediately find out once these deposits were done and complete your PayPal account's verification process.
However, despite the good sides of being Smart Money remittances cardholder, each successful bank transfer made from PayPal to your bank account will incur a transaction fee of Php200.
So, it's up to you whether or not you should use Smart Money card to manage your online transactions.
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