Claiming money from paypal for Philippine residents only...  

hello francheskie! my friend and i uses Export & Industry Bank to withdraw funds from paypal. they do not charge withdrawal fee unlike some other banks (i.e. RCBC). thus, if you withdraw less than PhP7,000 the only fee that will be charged is the fee charged by paypal which is PhP50. I think my friend was charged PhP100 when he withdraw his money through RCBC. hope this helps!

Any banks that is powered by VISA, Mastercard and American Express you can withdraw from them.

Just wondering. When claiming the money do we need to have a bank account or just go to the bank and give them our paypal username or something like that...?

I believe that you can also used smart money e-card in order to get into your paypal account. It is powered by mastercard and thus would be eligible to be used in a paypal account. Application for it is very cheap. It would only cost you P30. So there. Happy mylotting! :)

so far, any banks that is listed on paypal philippines is applicable.

but for me, i use eon. i was not able to try others.

hi francheskie!

you can withdraw your funds from your paypal account to your bank account. just provide the necessary details so that your bank accoutn will be linked to your paypal account. i have my bpi account linked to my paypal account so all my withdrawals go there. there is a fee that is paid so make sure to check the fee as it differs from bank to bank. check out the faq section or the withdrawal section of paypal and you will find your answers there.

hope this helps.

cheers!!!

Hello, Franceskie:-)

You can withdraw money from your paypal account by adding your bank account. Once the money has been credited to your paypal you can withdraw it using banks from the philippines. If you haven't added a bank yet, then, do it first. Go to your paypal account, click ADD/EDIT BANK ACCOUNT , then, click ADD. You will be asked to ENTER YOUR BANK NAME ( be sure that you are a depositor of such bank), then, the 9-digits BANK CODE (you can get list from paypal's bank codes of the Philippines) and yuor ACCOUNT NUMBER (Savings, checking, etc)

Once you've entered those informations, you may request money withdrawals from that bank. There's a fee of P50 for less than P7000 withdrawal.

I haven't tried it personally since I have been using Eon for claiming money from my paypal. However, a friend of mine have told me that the fees for the transfer is much higher, especially if it is below 7,000php. With eon, you will be charged only 50php, so it really isn't that much. There might not be much of a difference with the processes, but the fees are quite huge.

I think that Union Bank the Eon card is better to use claiming money from Paypal, I never tried but some of my friends said that eon card of union bank is much better than the other MasterCard because it is a debit and at the same time also a credit card. One time I will go there to have one and try to activate this account in my paypal and have my encashment to this bank.