Are you receiving international/overseas payments from your business online? And keep on wondering how you can move your PayPal payments or withdraw 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 BancNet ATMs at your local ATM stations in the Philippines? You read that right.

  • Bank in Philippines Accredited by PayPal

Compatible Banks for Paypal

Now here’s the list of the Cheapest Way to withdraw your money from PayPal Online.

1. BDO Unibank

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;

a. Country
b. Name on Account (Your PayPal and bank account should have the same name)
c. Bank Name
d. Bank Code (Bank Codes for all banks affiliated with PayPal are listed below)
e. Account Number

3. 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.
4. You will then put the desired amount you want to transfer in your BDO account.
5. 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 amount or more is free of charge, but less than the given amount will have a charge of ₱50.00.
6. Banco de Oro (BDO) has of charges ₱200.00 to ₱250.00 on every PayPal withdrawal to a BDO bank account.

2. Bank of the Philippine Islands

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;

a. Country
b. Name on Account (Your PayPal and bank account should have the same name)
c. Bank Name
d. Bank Code (Bank Codes for all banks affiliated with PayPal are listed below)
e. Account Number

3. Go the Withdraw page and choose Withdraw funds to your bank account and input the necessary amount you want to be transferred.
4. 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.
5. The Bank of the Philippine Islands (BPI) has a charge of ₱150.00 to ₱200.00 for every withdrawal transaction to a BPI bank account.

3. UnionBank EON

1. 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.
2. 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.
3. 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.

4. RCBC mywallet visa and Eastwest Bank

1. 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.
2. If you have already chosen the withdrawal option, which is through your bank account, enter the necessary amount.
3. 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.
4. 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.

5. Security Bank MasterCard

To link your Security Bank MasterCard debit card* to your PayPal account, follow these steps:

  1. Login in to PayPal
  2. Click on “Wallet”
  3. Click “Link a Credit Card” and you will be directed to a short form
  4. Enter your 16-character card number
  5. Enter your Card Verification Value (CVV)
  6. Enter the address attached to the account as your billing address. This is the same address that appears in your monthly bank statement.
  7. Your debit card should now be attached to your PayPal account. Click “Confirm Card” to request confirmation.
  8. The 4-digit code needed for confirmation can be found on your card’s next statement of account. You can also check your transaction history on Online Banking or call Security Bank’s customer service at 88-791-88 2 banking days after requesting confirmation from PayPal to get the 4-digit confirmation code.

*Note that non-MasterCard ATM Cards such as Cashlink ATM cards may not be linked to Paypal at this time.

6. PayMaya

1. 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.
2. Fill in the necessary details needed and then click continue.
3. Enter the amount to be transferred and once you have confirmed it, a prompt will show the transaction you’ve made.
4. It’ll take around five (5) days before the successful transferring of funds and a charge of ₱250.00 for every PayMaya account transactions made in PayPal.

7. G-Cash

With G-Cash, there are various ways that you can transfer your PayPal funds. I use G-Cas to withdraw my paypal money and wire transfer the amount to my BPI Account by dialing 119. No fees as in. Best deal ever.
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.

On the other hand, here’s the Official List of Bank Codes for PayPal Philippines and their designated bank codes.

SEE ALSO: Bitcoin Philippines: Learn How To Invest Money in Bitcoin (2018)

Have something to add to our list? Share with us in the comments, below.

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Ezra
Ezra

I understand these are the best banks but do you think Land Bank is compatible with Paypal? They have a new card now.

Bert
Bert

Do I need to open a business bank account with these banks? I have an online business and the online business name is not the same with my name. Thanks

chassandra
chassandra

can i just proceed to the banks to pay under paypal?

Nik
Nik

Hi! Can I use a BDO Cash card to transfer funds to my Paypal account? I’m planning to open one po kasi. 🙂

joshua
joshua

Is one network bank compatible?

Zosyl

Hi guys! My name is Zosyl and I just registered in Paypal, is there any specific type of card that I need to use with Paypal? Like for BDO, does it have to with a MasterCard on it? Thanks.

Gia Michelle
Gia Michelle

hi. i just want to ask if the atm cards for transferring funds from paypal should be visa or master card only or not? thanks!

christy
christy

how to open acct paypal in philippines

marie
marie

Hi! I want to look for the best and cheapest way to withdraw Euros through PayPal. Which is your best recommendation?
Banks 4,5 and 7 don’t seem to have charge for withdrawal… does that mean there’s no hidden charges?

Kris Marie Gaoat
Kris Marie Gaoat

I can’t transfer money from Paypal to my BDO bank account. BDO personnel told me that they don’t accept online tranfer of money anymore.

Jemba Richard

Can I link my equity bank account?

Cesar
Cesar

Just so you know Gcash has a transaction limit of 100K per month and 40K daily so if you have large amounts of transactions its better if going to a bank

edelie
edelie

Just wondering why my withdrawal funds and transfer to my BDO bank account always denied? Its says wrong bank details even i put the right one…

Chenyl Pasanting
Chenyl Pasanting

Hello guys i have a problem also in withdrawing funds from paypal to my local bank account,i noticed later after further research that bank accounts and cards that are not affiliated with mastercard,visa,and american express cant enable to withdraw funds from paypal unless your bank cards are with this affiliations or logo…it was very struggling at first and i lost funds as charge for denied attemps of withdrawals or funds reversed because of linking in apprpriate cards on my paypal account, in addition my card that ive used in my first attempt of denied withdrawal is a BPI-EPS atm card…

Irvin De la cruz
Irvin De la cruz

Hi. what local bank in Phil i can use to fund paypal and eventually transfer the money to uk?

thanks in advance