Paypal to BPI

@stuckonu (726)
Philippines
September 20, 2011 4:44am CST
Hi Mylotters. I'm from the Philippines. I tried searching for an answer to this question but I cannot find it exactly in the discussions so, might as well start another one. My question is, how can I transfer the money from my paypal account to my BPI (local bank) account? Is it a requirement that my card should have a Visa or Mastercard logo? What if it doesn't as it is a regular savings account, can I still transfer the funds to that card?
1 person likes this
9 responses
@rajaiv0810 (1012)
• Philippines
20 Sep 11
I am using my BPI account to withdraw from my paypal account. And my BPI is a savings account. At first you need to verify your paypal account, so you will be needing a credit card. You can borrow credit card to your family if you do not have one. Anyway, I believe the charge is very minimal and it will be re credited back to your account as well after verification. You can go to withdraw to attach your BPI account there. You will have to input your name, bank name, bank code and your account number. The Bank code for BPI is 010040018. Then it is ready for use.
• Philippines
21 Sep 11
Yes you can, because the credit card that I have used to verify my account was not mine but it was my cousin's credit card. We do not even have the same family name. For my husband's paypal we used his sister's credit card for verification. The important thing there is the code that you'll get, which will appear in the credit card bill a month after. We do not have a credit card of our own and never had. Here is the link for the bank codes by the way. http://www.pinoymoneytalk.com/bank-code-philippines-withdraw-paypal/. Yes you can also attach your BDO account secret bear there and so as other bank. accounts.
@louievill (28851)
• Philippines
20 Sep 11
I think this is the best answer and the procedure that has to be followed except for one thing "You can borrow credit card to your family if you do not have one.", although I am not really sure, I think the name in the credit card should match the name on the paypal account, the same way, and with this I am very positive, that the name of the bank account should match the name in the paypal account, otherwise when you transfer your paypal money to your bank account, it would bounce back to the paypal account and you will be charged with a fee. If you do not have access to a credit card, then the other posts are correct as well, the best way to get one that paypal will honor is a Union bank Eon card(for Filipinos), you can even apply to get the card online by going to their site.(check if they still do this)
1 person likes this
@louievill (28851)
• Philippines
20 Sep 11
oh here is the link on where to apply for your very own eon card online http://www.unionbankph.com/index.php?option=com_content&view=article&id=2031&Itemid=839 sorry but again I think using another person's credit card even if he or she is a family member or allows you to use it may not be the wisest thing to do and not advisable when there's another way to get your own easily
@louievill (28851)
• Philippines
20 Sep 11
You can transfer your paypal money directly to your Philippine bank account! Simply look for the add bank tab in your paypal account and fill up the details including the bank code of your bank ( in your case it's BPI), if you do not know the bank code of your bank, find it here http://www.pinoymoneytalk.com/bank-code-philippines-withdraw-paypal/ What I am not sure is if you can use a savings account since I use a checking account so it is best to ask your bank, I think bpi also has an account that serves as savings and checking at the same time so perhaps you can also ask your bank about this and consider an upgrade. I think the credit card is a different thing, it's another tab where it says "add card", you need a card with a Visa or Master logo to do this. The card is used for verifying an account or if you want to fund your online purchase using a credit card
@staria (2780)
• Philippines
21 Sep 11
Hi Louie! Im not really sure if I can repost my question that I posted under ddaguno's comment. If you have the time can you kindly look into it, you might know the answer about additional charges charged by the bank, etc. Thanks! :)
@louievill (28851)
• Philippines
21 Sep 11
@staria, paypal charges 50 philippine pesos if you transfer up to 6,999, meaning a paypal to bank transfer 7,000php up is free Your local bank will charge you an electronic fund transfer fee, and here are the EFT fees of our most popular Philippine banks: Allied Bank – P200 Banco De Oro – P200 Bank of the Philippine Islands –P200 China Bank – P200 Metrobank – P200 Unionbank EON Cyber Deposit Account – FREE Hope the information helps all of us
@mialei23 (2385)
• Philippines
26 Sep 11
I'm proud in using EON..
@Verity (851)
23 Sep 11
Hi Stuckonu, do not be confused, the herein tips might help you. One of the Paypal requirements to withdraw your money from them is to have a card bearing a Visa or Mastercard logo. Without a card bearing these logo you cannot therefore, withdraw your money from them. So, to comply with this requirement, you should obtain and apply for a VISA or MASTER ATM (Automated Teller Machine)CARD from BPI so that you can use this card for your Paypal funds withdrawal. Tell the BPI employees that you will get a VISA or MASTER ATM CARD. Tell them also that said card shall be used for your Regular Savings Account. Then, all your purpose is served and the bank will inform you when to get the VISA or MASTER ATM CARD after its processing period. Your BPI Regular Savings Account is not recognized by Paypal not until you have that VISA or MASTER CARD. Hence, get your VISA or MASTER ATM CARD now from BPI. Once you have already the VISA or MASTER ATM Card in your possession, submit its Card Number to Paypal in order for them to facilitate the withdrawal of your funds. This type of card is used worldwide, it being the fastest and convenient means to access your bank account. Good day.....
• Philippines
21 Sep 11
You can only transfer money from your paypal to your savings account once your paypal account is verified. You can either use either credit card or unionbank's eon card to verify it. If you will use credit card there's a very minimal amount that will be charge to your card, however it will be refunded back to your paypal account.
21 Sep 11
Mm... I hope I understand right you question, but before answer for it I must you some of more questions.. do you have what card is added to your paypal account? is it visa, master card? what card do you have on you BPI (LOCAL BANK)? Is this card is added to your paypal account?
• India
20 Sep 11
yes it is possible... U can add a bank account to your paypal account. all you have to do is add bank account, paypal will send a small amount to ur bank nd asks u to veify by entering how much paypal sent to ur bank after u have verified u can directly transfer ur paypal amount to ur own bank account...
@swirlz (3136)
• Philippines
20 Sep 11
I think this has been discussed before. Yes, you need to have a Visa or a Mastercard affiliated card/account. I'm not sure if the past mylotter has been able to do this, as he/she was insisting to use BPI. But almost everyone, including me, said that we are using Unionbank Eon to verify out Paypal accounts, because Unionbank is affiliated with Paypal. So it's up to you if you'd like to open an account there, or if you'd rather stick with BPI, but then I can't help you there.
@alberello (4752)
• Italy
20 Sep 11
Well, in my opinion, based on my personal experience, i can transfer the money from Paypay account to my prepay card "VISA Electron". Others methods i don't know exactly but i know that there is the chance to transfer also in your bank account. In my opinion you should better inform Regards
• Philippines
20 Sep 11
Hi,are you verified pay pal?In pay pal,you need to get verified with your card like visa,master card and express something like there is expiration card..And if your BPI is same with master card or there is visa on it,you can us that to gt verified..And after ,and there is instruction about the verification there in paypal. One time i having hard time of that verifications i,like i do not have visa,or something like that..But someone suggested me to Open UNION CARD because it is easy to use it to get verified and also can sent your funds from pay pal to UNION CARD..And in your' i think you can use that BPI to sent money from pay pal to your account..And you can't sent or transfer money i you are not verified pay pal...