It’s the same question I had when I first worked online. My employer back then was from Australia. I am from the Philippines. I preferred bank transfer thru my BDO Unibank account than Paypal because Paypal charged around Php250 to Php350 per transaction. I’m not sure what’s the PayPal rate or charge per transaction now but I’m sure they have updated their rates already.
Anyway, bank to bank transfer, meaning – less middle men between the transaction means faster processing (I hope) and less costly.
When my employer would debit their company account from Australia and send it straight to my bank account in the Philippines (BDO), it usually takes 1 to 3 days before I would receive the funds. Again, this is bank to bank transfer. Sometimes, it would only take 1 banking day when the funds are sent very early in the morning on Wednesday, and the funds would be reflected on my Philippine account Thursday afternoon. However, when the funds are sent on a Friday, I noticed that the funds will be reflected already on Tuesday, usually around 7 in the evening.
If you happen to be waiting for the bank transfer to reflect on your account and its already beyond 3 days from the time or date of transfer, ask the sender first for some details. Like when it was sent and via what bank. Also, be sure to double check the details because you don’t want the money to be reflected on the wrong account! When you have done all these, go ahead and call your bank and inquire if there is a pending transaction in behalf of your name. Ask them if there’s any issue and how you could help speed up the process. If the bank’s protocol is really to take more than a week or so, then maybe it’s time to think it over and look for another faster but reliable option like choosing another bank or another but reliable way like Paypal.