Top Compatible Banks for PayPal in the Philippines

Are you receiving international/overseas payments from your business online? And keep on wondering how you can move your PayPal payments to your bank account?

Internet have changed the platform of business that none of us have never thought. Nowadays, anyone can sell whatever products they may have, work with people internationally to resell their products as well, and get paid online too. How convenient is that?

PayPal is one of the commonly used method of payment by many. And did you know that you can actually transfer your available PayPal balance and withdraw it through your Banc Net ATMs at your local ATM stations in the Philippines? You read that right.

Here’s the list of banks affiliated with PayPal and their designated bank codes.

Now here’s the list of Philippines banks to withdraw money from your PayPal account.

BDO

By using the right code, you can easily add your bank account to PayPal and transfer your money swiftly.

1. After logging in your PayPal account, proceed to My Account tab and choose Profile.
2. Edit your Bank Account, and provide the necessary details such as;
3. Country
4. Name on Account (Your PayPal and bank account should have the same name)
5. Bank Name
6. Bank Code (Bank Codes for all banks affiliated with PayPal are listed below)
7. Account Number
8. One you have added your bank account details, go again to My Account, choose Withdraw and then opt for Withdraw funds to your bank account.
9. You will then put the desired amount you want to transfer in your BDO account.
10. It will take around 2-4 business days before the money will be successfully transferred to your BDO account. Withdrawal that has 7,000.00 PHP amount or more is free of charge, but less than the given amount will have a charge of 50.00 PHP.
11. Banco de Oro (BDO) has of charges P200.00 to P250.00 on every PayPal withdrawal to a BDO bank account.

BPI

Similar to the process of adding a BDO account linked to a PayPal account, you can also linked your BPI account by following these steps;

1. Choose Profile under your My Account tab after logging in at PayPal online.
2. In the Edit/Bank Account, start to fill out the necessary details needed to successful another bank account connected to PayPal;
3. Country
4. Name on Account (Your PayPal and bank account should have the same name)
5. Bank Name
6. Bank Code (Bank Codes for all banks affiliated with PayPal are listed below)
7. Account Number
8. Go the Withdraw page and choose Withdraw funds to your bank account and input the necessary amount you want to be transferred.
9. After which, same with BDO, you’ll have for 2-4 business days before it’ll be transferred and same charges may apply depending on the amount you have entered.
10. The Bank of the Philippine Islands (BPI) has a charge of P150.00 to P200.00 for every withdrawal transaction to a BPI bank account.

UnionBank EON

• After you have received payments and/or receivables from your PayPal account start transferring this to your UnionBank account by following the steps of adding bank account on PayPal.
• The funds you have transferred in your UnionBank account will be converted into peso using the Visa exchange rate for the day of your withdrawal transaction.
• By using your EON card, you’ll need to wait for around 5-7 business days before it will reflect on your bank account and it also has a deduction fee of 250.00 PHP
• RCBC mywallet visa and Eastwest Bank
• Similar with the bank transactions linked with PayPal, same procedures also apply if you have an RCBC mywallet visa or Eastwest Bank account that you wanted to be connected to your PayPal account.
• If you have already chosen the withdrawal option, which is through your bank account, enter the necessary amount.
• If you do have various account connected to your PayPal account, choose which bank account this fund may be transferred and then click continue and wait for 2-4 business days for successful transaction.
• After the transferring, you’ll be redirected to a page where in you’ll be able to see the transaction details you’ve made that day and you’ll be receiving an email as confirmation of the transaction you’ve made

PayMaya

• After logging to your PayPal account, straightly go to the Withdraw tab and opt for Transfer funds to your card. But first make sure that you added PayMaya on your credit cards where in you can transfer funds.
• Fill in the necessary details needed and then click continue.
• Enter the amount to be transferred and once you have confirmed it, a prompt will show the transaction you’ve made.
• It’ll take around five (5) days before the successful transferring of funds and a charge of 250.00 PHP for every PayMaya account transactions made in PayPal.

G-Cash

With G-Cash, there are various ways that you can transfer your PayPal funds.

Through website:

1. Enter the 11-Digit GCASH number (Globe or TM) and the amount that you desire to receive.
2. Choose PayPal checkout button to submit this transaction.
3. You will then be redirected to PayPal’s website wherein you’ll have to log in your account and view the details and verify the transaction made.
4. After which, you’ll be redirected back to the GCASH online page to click Confirm and complete the transaction. The fund then will be sent to your number. Remember that you should first register your number on GCASH before making this transaction.

Through Mobile App:

1. After logging in your account on your GCASH App, choose the Cash-In and choose PayPal to GCASH transaction.
2. If you haven’t connected your PayPal account yet, on the menu, you’ll have to choose Link PayPal account and fill out the necessary details needed and click Authorize so you can transfer funds for your PayPal.
3. You can now go back to Cash In menu and choose the PayPal to GCASH then start filling out the amount you needed to be transferred.
4. After a while, a prompt will show that the transaction has been completed and will show the current balance you have.