Here’s another way of getting your Paypal funds into one of your credit cards here in the Philippines. I initially thought this method would before but only got confirmation about it from Citibank just yesterday.
It seems that only Visa credit cards are allowed to be added into your Paypal account. Not surprising since Paypal has it’s own Visa credit card. Maybe a partnership with the credit company.
So there are two ways to get your money from your Citibank credit card account after you’ve made a fund transfer from your Paypal account:
- Get your money via “Cash Advance“. Be reminded though that cash advances carries a fee (I think 6%) and a monthly interest rate (if you have a running payable balance).
- Request an “Over-Payment Cheque“. This does not entail any additional charges, fees or interests. Just go to your nearest Citibank branch and request for the cheque for your account.
The Cash Advance route may not be practical as it has some charges. Still, it’s one of the fastest way to get your funds as you can use your credit card to withdraw the cash on any partner ATM. The cheque route is least expensive (no charges) but may take some time to actually encash.
Update: Jeffrey adds in the comments that MasterCard is also allowed with Paypal. The eBay website also links to more details about the Visa credit, debit and prepaid card support.
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Hmm… I wonder how UnionBank’s process goes. My application for Citibank is still on hold *sigh*
I believe BPI MasterCard works too. Hint Hint.
i think paypal should allow MasterCard as well. I just deactivated my Citibank Visa.
I called up Citibank, Mastercard is allowed.
I talked to a Citibank customer agent before and she confirmed that PayPal payments can indeed be made to both Visa and Mastercard credit cards. It just depends on what exact type of card you have (Shell-Citibank, Clear, Cathay Pacific, etc.). The girl said me she cannot tell me which ones can be used with PayPal because they have dozens of credit cards. The best way to find out is to actually try it in PayPal.
Same thing with the credit cards of other banks. HSBC and Metrobank Visa cards work, but BDO Mastercard, ChinaTrust Visa and Standard Chartered Debit cards don’t. The only best way to find out which cards work is to attempt a PayPal withdrawal yourself.
sylv3rblade: PayPal withdrawals in UnionBank depend on the type of payment you received. Normal transfers are completed within 1-2 days while merchant payments may take up to 11 calendar days. My last Paypal withdrawal took 4 days to complete.
@ hip2b2: can you please confirm if any BPI mastercard (credit or prepaid) can be used in paypal withdrawals?
or maybe somebody else knows? do tell.
Article is true, but isnt this posted weeks ago by another blogger? You know, the one with the list of cards? I even read the same information on the ebay.ph forums and comments from other blogs.
I am not a regular reader of that blog, just found while searching for paypal philippines credit debit cards.
Withdrawing to HSBC Visa Credit Card is Confirmed. I’ve tried it myself and documented it in my blog.
http://noelbautista.com/blog/how-to-withdraw-paypal-funds-to-hsbc/
I have also been successful at getting PayPal to work with my Unionbank E-On card. If you are just starting out, I blogged about it when I was still getting up. Check out my article and comments, I’m sure it will be very useful.
I was already able to withdraw a huge amount to my Unionbank EON Visa Electron card. It works fine - took 5 days to transfer plus paypal charges $5 / transfer. I’m interested with the over-payment cheque but where do I ask for it? Paypal or the bank?