Withdraw Your Paypal Funds to Your Philippine Bank Account
eBay’s online payment division and the global leader in online payments, PayPal, has added a new withdrawal feature for its Filipino and Indonesian members, allowing them to conveniently withdraw funds from their PayPal accounts to their local bank.accounts.
How does it work?
How to add a bank account?
In just a few easy steps, you can add your Filipino or Indonesian bank account to your PayPal account in order to conveniently withdraw your money.
Step 1: Log into your PayPal account
Click the Profile tab and then click ‘Add or Edit Bank Account’.
Step 2: Add your Bank Details
For Filipino users, the bank code is a 9-digit number. This number is different from a SWIFT code required to send international wires. Please refer to ourlist of bank codes.
For Indonesian users, the bank code is a 7-digit number. This number is different from a SWIFT code required to send international wires. The 7-digit number assigned to each bank is typically used as an identifier to complete a local or domestic money transfer. Please call your bank to obtain the 7-digit bank code which designates your particular bank branch and location.
Add your local Indonesian or Filipino bank account details and click ‘Continue’.
Important Information:
Please note your first name and surname on your PayPal account must match the name on your bank account. If it does not, your withdrawal request may be rejected by your bank.
For some Indonesian users, we recognize that naming standards maybe different, such as a single name, and thus may cause discrepancies between the name on the PayPal account and bank account. This may also cause your bank to decline your withdrawal request.
Please follow the instructions below if your withdrawal is declined:
1. Contact your bank directly to request acceptance of the transfer
2. Withdraw your funds from your PayPal balance to your Visa® credit, debit or prepaid card. Learn more.
Step 3: Review your bank account information
Review your bank information and click ‘Add Bank Account’ to confirm.
READ THE FULL INSTRUCTIONS HERE
*For withdrawal amounts of less than PHP 7000, there is a nominal fee of PHP 50.
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[...] but again, who will withdraw 5 pesos from their paypal account? Withdrawing less than 7,000 pesos from paypal account will cost 50 Pesos. [...]