Nicholas M Ong

in this post, i’m gonna illustrate how to go about setting up PayPal with your VirtualMoneyInc debit card. this information was provided to me by Melvin from InvestmentBlues. i’m documenting it here for easy reference. some may wonder why you would wanna do that. well for one, it allows for easy transfer of funds between your 2 processor accounts. unless you are staying in the U.S. (which i’m not), you can’t get hold of the PayPal debit card. i can withdraw funds to my local bank account from PayPal. problem is it takes up to a week and there’s a fee imposed if it’s below $200.00. all because i’m not living in the U.S. again. no, i’m not against anything here but i wished it was easier to get my money in PayPal or fund it. a simple step by step guide with screen shots is available below.

1. login to your PayPal account and click on “Profile” > “Bank Accounts”

2. at the next screen, click on the “Add Account” button at the right bottom corner.

3. select “United States” from the drop down menu and click on “Continue”.

4. Enter the following information as shown:

Bank Name: Southwest Bank

Account Type: Checking Account

Routing Number: 111900756

Account Number: 8 + the last 9 digits of your card number.

example, if your card number is 6278 9510 1234 5678, you should enter: 8012345678

PayPal will transfer 2 small amounts (total under $1.00) to your VirtualMoneyInc account.

login to your VirtualMoneyInc account in 2 - 3 days and get the transaction amounts. enter the amounts back at PayPal and your VirtualMoneyInc “Bank Account” will be verified. i’ve not yet tried funding my PayPal account via VirtualMoneyInc though it looks like i shouldn’t have a problem there. probably try doing that next week. anyone who has more information on the possibility, do leave a note here.