ebay blues

I've been trying to figure out how to trade online lately. I was surprised by the number of Filipinos who actually go online to shop. There are probably hundreds if not thousands of transactions completed everyday. But it turns out that even when selling or buying items locally, there are a lot of obstacles to overcome. For one thing, I need a means of acquiring payments. But it shouldn't be just any payment method. It must appeal to the preference of the buyers. The most common form so far is through Globe G-cash, which was recently banned by ebay international (But it's still acceptable in ebay.ph). Others prefer paying through Smart Money while some would rather pay through bank deposit. So for the past weeks, I've been going to banks and mobile centers trying to apply for these e-transaction services. I was just overwhelmed by the number of fees, annual rates and the strict terms and conditions.So much for trading in the Philippines. Selling on the international market is much worse. I need the verification of ebay USA by registering a Paypal account. And what exactly is Paypal? It's the preferred method of payment of international buyers. The closest Paypal service we have here in the Philippines is through debit and credit cards, which includes additional fees. Currently, Union bank is the only firm known to give full support to this service. Unfortunately the ADB (Average daily balance) to be able to open an account and apply for a debit card is pretty high (P10,000). And that initial deposit won't even earn any interest. The minimum balance is P25,000! That's even more than what I expect to generate in a month!

I guess there really is no escaping these fees and outrageous requirements. Probably it's better to look at it as investments than costs. As economists would say, "There is no such thing as a free lunch". Luckily I'm not an economics major so I don't have to hold on to this as my creed. Haha