Sign up for Paypal in the Philippines!. You can withdraw an amount not exceeding $500 per month to any debit, credit card or directly into your Philippine bank accounts. You will just need the bank codes and savings account number.
At long last, Paypal’s promise to allow receiving funds into Philippine accounts have been fulfilled. Just today, reports have been circulating in the previous post here about the development.
I did a money transfer from an old and verified Premier account into my new Philippine Paypal account and it works. From the Paypal Help Pages, the Philippine flag is now displayed under “Send. Receive. Withdraw to a U.S. Bank Account or a card.” along with 22 other countries.
The new status allows for: Send and receive payments in these countries. Withdraw from your PayPal account to a U.S. bank account. In addition, withdraw to a credit, debit, or prepaid card in countries marked with a (
). No withdrawals from local banks still though. And no cheques too.
I believe this development will further push activity in eBay Philippines as well as enable eBay users to get more secure transactions. The question whether eBay PH will start charging monthly subscriptions is yet to be seen but I suppose that time might have already matured.
It would be very interesting to see how this new development will affect the local e-commerce industry as well as Filipino’s socio-cultural fear of transacting online. I’m sure SMEs will be very happy with this though. Paypal only started allowing Philippine-based accounts about 11 and a half months ago and reports of a rumored full Paypal support were spreading 9 months ago.
So, if anybody wants to donate money to the YugaTech Sponsor-a-Contest campaign, see my Paypal account above. 
Twitter: marhgil
says:
hehe. magkasunod lang tayo sa pagpost
now, how do you withdraw the money? Sabi nila, thru US account or debit card. I tried the BDO ATM card, yung international version nila (Mastercard Electronic), di ko maregister. So, which debit cards are supported?
It’s US based credit cards and debit cards. I think they mean, credit and debit cards issued in the US.
so it means that if i transfer my ad earnings to Paypal, hindi ko na mahahawakan yun at kailangan ko na lang ipambili online? ganun ba?
Twitter: marhgil
says:
I tried enrolling my credit card issued here in the Philippines for verification. it works!
Yup, to get your account to Verified status and join the Expanded Program, you’ll need any int’l credit card. A verification number will be printed in your statement and you will have to enter that 4-digit number in your Paypal to complete the verification process.
@Marhgil
try Citibank and iBank
Twitter: marhgil
says:
thanks people! i think, the problem is Mastercard Electronic, it’s different from Mastercard. I think, I should convert my BDO ATM card to this one.
Twitter: kzapkzap
says:
so then from PayPal you can send your money to your PH bank account using Xoom
So when you want to withdraw your funds from your Paypal, it will be deposited to your credit card account?
Great news! Wow! So this means we’ll start seeing local blogs with “make Paypal donation” options? Joke lang.
Let me make a donation to the Yugatech Foundation to try this new Paypal feature out. Magkano ba kailangan mo? $500? $1,000? Hehe.
Twitter: sylv3rblade
says:
May list na po ba ng lahat ng supported credit and debit cards?
[...] news to PayPal users in the Philippines! You guys can now send and receive payments via PayPal in the Philippines. All I can say is, “It’s about [...]
Twitter: momblogger
says:
I look forward to deposit in our local banks. But yes, I am happy with this progress. The other features will soon come.
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Parang nung isang araw lang tinanong ko kung pwede bang makareceive ng payment through paypal dito sa pinas tapos ngaun pwedeng-pwede na. Tnx sa info.
[...] the comment I posted on Marhgil’s blog. Philippine flag is now listed Paypal’s Received, Send and Withdraw [...]
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Guys,
May tanong lang ako.Naka receive ako ng cheque from revenuepilot…i think it’s a HSBC one.Pwede ko kaya ito i claim sa BPI or any bank here except HSBC(Coz HSBC is too far from my place).
Thanks!
Hi Abe, just you can withdraw from locally issued credit, debit, and prepaid cards just not “Local banks”.
It says: ( https://www.paypal.com/row/cgi-bin/webscr?cmd=_display-approved-signup-countries-outside )
Countries marked with a dagger-sign can withdraw to a credit, debit, or prepaid card issued in their countries, which includes the Philippines.
I can confirm this already:
Visa Credit Card for Metrobank accepts PayPal withdrawals.
Mastercard Credit Card for Metrobank do NOT accept PayPal withdrawals.
A friend of mine with Visa Electron can withdraw also, but a Mastercard debit card can not.
It seems that Philippine-issued Mastercards can not receive withdrawals of PayPal money, but Visa does (well Visa > Mastercard when it comes to availability).
Prepaid card… do we have one? Unless we consider Smart Money – type of cards as “prepaid cards” and not “debit cards”. In any case, if I have time tomorrow, I will drop by a Smart center to ask them if Smart Money accepts PayPal withdrawals.
Also, could someone with a BPI Express Credit test it out as well?
Twitter: getitfromboy
says:
you have to open an account with that bank you mentioned and then deposit the check you received.
Twitter: getitfromboy
says:
that reply above is for xpressmusic
I missed that part. Thanks JC for the clarification.
Thanks for the info.. Showbiz Intriga? Get It From Boy!
np ^_^
have to wait now for the processing period to finish and see. As far as PayPal transfer is concerned, it went through. It is now the card issuer-side to confirm.
I asked my ex-colleague with an HSBC Visa and MasterCard to test it himself, waiting for an update…
[...] the talk of the Philippine blogosphere. PayPal has now accepted Philippines as one of the countries allowed to receive payment [...]