Withdrawing Funds from your Paypal Account
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For Filipinos, to withdraw funds from your Paypal Account, you have two (2) options; Withdraw funds to your local Philippine bank account or Transfer funds to your Card. I’ll take the first option because of the fees involved. I always withdraw my Paypal funds to my bank account so I have provided the steps I have done to link my bank account to my Paypal and steps I use every time I withdraw my Paypal funds.
HOW DO WE ADD OUR BANK ACCOUNT TO WITHDRAW FUNDS FROM MY PAYPAL ACCOUNT?
1. Log-in to your Paypal account, under the “Profile” tab click “Add/Edit Bank”.
2. Add your bank information.
Note: Make sure that your bank account’s first name and surname matches with your details in your Paypal account. Otherwise, the transfer will be rejected by your bank and Paypal will charge you a penalty fee.
Enter the name of your bank, and its corresponding 9-digit bank code which identifies your bank. Please refer below;
BANK CODES OF MAJOR BANKS IN THE PHILIPPINES:
3. Review your bank account information.
4. Confirm.
HOW DO I WITHDRAW MY FUNDS?
1. Log-in to your Paypal account, under “My Account” click the “Withdraw”.
2. Select the option “Withdraw funds to you bank account” (check fees involved).
3. Select the bank account you’re going to use and enter the amount to withdraw.
4. Confirm the transfer.
Congratulations, you have just completed your withdrawal process. Just wait for a few days to receive your earnings.
22 Comments on “Withdrawing Funds from your Paypal Account”
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Posted on March 4, 2009 at 4:58 pm.
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Posted on April 28, 2009 at 9:57 pm.
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Posted on April 28, 2009 at 10:03 pm.
Fees in Withdrawing Paypal funds to Local Philippine Banks << BeePinoy.com says:
[...] withdrawing Paypal funds, you are given two choices; withdraw funds to your bank account or to your card. Withdrawing Paypal [...]
Posted on June 24, 2009 at 4:58 am.
pwede po ba ito kahit ndi pa verified paypal account?
Posted on July 22, 2009 at 2:02 am.
Pwede naman kahit hindi pa verified Paypal mo kung hindi ka pa naman magwiwithdraw.
Marami kasing limits ang Unverified like $100 lang and pwede mo isend sa ibang Paypal users and HINDI ka makakawithdraw ng Paypal earnings mo.
Advice ko sa’yo, iverify mo Paypal mo. Madali lang naman. You can apply for a Unionbank EON VISA Electron Card tapos follow this steps in Paypal Account verification.
Madali lang ‘to
Posted on July 22, 2009 at 3:52 am.
Ok salamat..
wow talaga tong site na to…
ang dami ko natututunan
salamat po..
til next time
hehe
Posted on July 22, 2009 at 4:26 am.
Ok, sana maverify mo na Paypal mo.
Bisita ka uli. Thank You
Posted on July 22, 2009 at 6:05 pm.
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[...] are unaware of this, most think that EON card is exclusively a card. Yes! You can use the “withdraw to bank” option using your EON’s deposit [...]
Posted on August 23, 2009 at 7:26 pm.
how much ang fee pag ngtransfer ng money from paypal to my bank account. Say, I will transfer $100 from Paypal to my Union Bank account. How much will be the fee?
Posted on August 24, 2009 at 8:59 am.
You can read my post about Fees in withdrawing your Paypal funds to you bank account here
Posted on August 24, 2009 at 10:51 am.
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AlertPay Withdrawal in the Philippines << Make Money Pinoy | BeePinoy.com says:
[...] for withdrawing their online earnings mainly because Paypal allows withdrawal via direct transfer to local Philippine banks. Plus, there’s the cheapest way to withdraw Paypal funds method. If you follow that [...]
Posted on September 24, 2009 at 7:15 am.
can i use my rcbc mywallet debit card to withdraw funds?
Posted on November 20, 2009 at 10:51 pm.
I think withdrawing Paypal funds using ‘Withdraw to Card’ option is not possible since the RCBC MyWallet is not a VISA or MasterCard.
It seems that this RCBC card is quite new so I don’t have one yet. If you’re going to withdraw using ‘Withdraw to Bank’ option, I’m not sure if it’s possible ‘coz I’m not sure if it has it’s own Deposit account.
Better ask a RCBC representative on their hotline, (02) 877-RCBC or (02) 877-7222.
Posted on November 21, 2009 at 11:58 am.
Why not use an EON card to withdraw your Paypal funds instead? It’s easy to apply for an EON VISA card.
Since EON is a VISA card, you can use the ‘Withdraw to Card’ option and also, you’re EON card automatically has an EON Deposit account so can use the ‘Withdraw to Bank’ option.
Posted on November 21, 2009 at 12:09 pm.
tanong ko lang po.. pwd po bah magamit ang RCBC mywallet in withdrawing money from paypal account??
Posted on March 23, 2010 at 3:34 pm.
hello,
Ok lng ba kung ang ginamit ko is Withdraw Funds to YOur Card khit eon card din gmit ko?
Posted on April 10, 2010 at 6:54 am.
Yup it’s OK, but your withdrawal amount will have a deduction fee of $5 USD.
Posted on April 12, 2010 at 7:32 pm.
Hello totoo ba na 2-4 days lng tlga inaabot pag ginamit is yung WITHDRAW FUNDS TO YOUR BANK ACCOUNT?
Posted on April 19, 2010 at 3:35 am.
Yes, Aaron that is true.
Warning to all PayPal users:
Don’t let anyone use your PayPal email address to get their payment from their client. It might have an issue of reversal fund then you’ll have a limited access to your PayPal account. You’ll not be able to receive payment, withdraw funds or close your account.
That is true. I just experienced it.
Anyway, does anyone know what else can I link to my PayPal to get it verified except for Eon of UnionBank?
Thanks in advance!
Posted on April 21, 2010 at 9:56 am.