A day in the life of an audio visual junkie
29 Jan
Finally, PayPal has added support for withdrawals to Philippine banks!
Some interesting facts from the article:
How long does it take for funds to reach my bank account?
It typically takes 5-7 business days. However, depending on your bank’s policies, it may take longer.
Are there any minimum or maximum withdrawal amounts?
No, once you are a verified PayPal member, there are no minimum withdrawal amounts or maximum withdrawal amounts. However, non-verified PayPal members will not be permitted to make withdrawals of any amount. Learn more about verification.
Can I withdraw US Dollars to a US Dollar denominated Philippine or Indonesian bank account?
No. At this time, PayPal only supports withdrawal to Peso or Rupiah bank accounts located in the Philippines or Indonesia. However, you can withdraw funds in US Dollars, if you have a United States bank account. Add a United States bank account to your PayPal account now.
How much does it cost?
For Philippine users, withdrawals of PHP 7,000 or more are free. For withdrawal amounts less than PHP 7,000 there will be a fee of PHP 50.
Foreign exchange fees may also apply. Check our schedule of fees for details. Please note that some banks charge their customers a fee for electronic funds transfers. PayPal can make no assurances that you will not be charged by your bank. Please ask your bank whether it charges for electronic fund transfers before you initiate a withdrawal.
Below are screenshots taken from my own account:


As you can see, I have already added my Metrobank account. In order to add a local bank account, you need to know the bank code, which I am listing here:
|
BANK NAME |
9 digit bank code |
|
ALLIED BANKING CORP |
010320013 |
|
AUSTRALIA NEW ZEALAND |
010700015 |
|
ASIA UNITED BANK |
011020011 |
|
BANGKO SENTRAL NG PILIPINAS |
010030015 |
|
BANGKOK BANK |
010670019 |
|
BANK OF AMERICA |
010120019 |
|
BANK OF CHINA |
011140014 |
|
BANK OF TOKYO |
010460012 |
|
BANCO DE ORO (& EPCIB) |
010530667 |
|
BANK OF COMMERCE |
010440016 |
|
BANK OF THE PHIL ISLANDS |
010040018 |
|
CHINA BANKING CORP |
010100013 |
|
CHINA TRUST COMML BANK |
010690015 |
|
CITIBANK N.A. |
010070017 |
|
DEVT BANK OF THE PHILS |
010590018 |
|
DEUTSCHE BANK |
010650013 |
|
EAST WEST BANK |
010620014 |
|
EXPORT & INDUSTRY BANK |
010860010 |
|
FUJI BANK |
010640010 |
|
HONGKONG AND SHANGHAI BANK |
010060014 |
|
INTL COMML BANK OF CHINA |
010560019 |
|
INTL EXCHANGE BANK |
010680012 |
|
JP MORGAN CHASE BANK |
010720011 |
|
KOREA EXCHANGE BANK |
010710018 |
|
INTL NEDERLAND BANK |
010660016 |
|
LAND BANK OF THE PHILS |
010350025 |
|
MAYBANK OF THE PHILS |
010220016 |
|
METROPOLITAN BANK & TRUST CO |
010269996 |
|
PHIL BANK OF COMMUNICATION |
010110016 |
|
PHIL TRUST COMPANY |
010090039 |
|
PHIL NATIONAL BANK |
010080010 |
|
PRUDENTIAL BANK |
010150018 |
|
PHIL VETERANS BANK |
010330016 |
|
RIZAL COMML BANKING CORP |
010280014 |
|
SECURITY BANK & TRUST CO |
010140015 |
|
STANDARD CHARTERED BANK |
010050011 |
|
UNITED COCONUT PLANTERS BANK |
010299995 |
|
UNION BANK OF THE PHILS |
010419995 |
|
UNITED OVERSEAS BANK |
010270189 |
Is your bank not listed? You may want to check the official table from time to time, which is located at eBay website.
Technorati Tags: paypal, phillippines, paypal philippines, bank, withdrawal, e-commerce, money, online, finance
11 Responses for "PayPal now suports withdrawal to Philippine banks"
Hey thanks for putting this up man, this will really help me out. I’ve been wiring money via my bank account, do you know how much the fee is to withdraw from the P.I?
JONxBLAZE’s last blog post..What Can Mixx Learn From the Digg Revolt?
Free. There is no withdrawal fee for withdrawals over PHP 7,000.
For withdrawal amounts less than PHP 7,000 there will be a fee of PHP 50.
Take from the official announcement page
pardon me for my ignorance, does this mean that one no longer needs to use a union bank eon debit card?
idle me’s last blog post..Kinda Excited
@idle me, we are never restricted to Unionbank EON card. To answer your question directly, YES
thanks.
kindly inform us later on if it will be better/advisable to make a withdrawal from one’s savings account than doing the same through union bank eon.
idle me’s last blog post..Kinda Excited
Personally I prefer doing bank withdrawal because there is no limit to the amount that can be withdrawn.
Hi, you are using a metrobank account right? is that a passbook savings account? have you tried withdrawing from it already?
Savings account. Not yet, still waiting for $ to go up!
Hi! Is it necessary to indicate my Metrobank branch? Can I use Metropolitan Bank and Trust Company as the bank name?
Yes!
Hi, it’s me once again, I haven’t verified my paypal account yet.. have you? You need to put your credit card details to do that right?
Have you withdrawn already?
How was the transaction?
Thanks!
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