Until now, I’m not sure what that Php200 charges most banks deduct from Paypal withdrawals. That’s on top of the Php50 for withdrawals less than Php7,000. And we all thought any amount beyond that would be free of charge.
I relayed this observation to a contact from Paypal in Singapore and was asked to get a list of the banks that makes the additional charges.
Based on my previous entry on Paypal/Bank Exchange Rates, the initial list of banks are as follows:
Banks that charge withdrawal fees:
- Bank of the Philippine Islands (BPI)
- China Bank
- Metro Bank (MB)
- Banco de Oro (BDO)
Banks that do not charge withdrawal fees:
- Union Bank
If your bank or you know of a bank that makes additional charges, please let me know in the comments. I will then forward this to Paypal for further investigation or clarification.
I’m not actually sure what this Php200 charges are for — it could be some sort of a clearance fee, a transmittal fee or wire fee.
I withdrew funds from my PayPal account to Metrobank last Aug. 27, 2009. The amount transferred by PayPal was P7,335.24. The amount that appeared in my Metrobank transaction history was P7,198.54. That means Metrobank “charged” P136.70 and took it off the remitted amount automatically without the charge being entered as a separate transaction entry.
I’m wondering if where do i get this 9digit bank code asked in paypal? And do sterling bank of asia allows paypal withdrawal? how much is their charge? A bag thanks : )
that shud be a BIG thanks.
I withdrew a lot from my paypal account, and I’ve observed that they charge it to a lower rate. But anyway still good because they send money to my local banks..
I have list some complete bank codes for your references. http://www.ctrzone.com/windows-security-reviews/21-ph-bank-transfer/23-ph-paypalcode.html
I have a paypal account but it’s not yet connected with my BDO bank account.
I have a BDO debit/atm card and I tried using that for my paypal account but it got denied. Though, I thought paypal accepts debit cards.
What do I have to do to get my paypal accout connected with my BDO bank account? Or should I find another bank?
I need to ask whether it is really possible to withdraw paypal balances to a BDO account. A BDO customer service representative told me that she hasn’t seen a single successful withdrawal transaction from paypal. In fact, BDO is not tied up with paypal and does not recommend its use, according to her. Paypal asks for a 9-digit bank code which BDO doesn’t have. BDO only has a SWIFT Code and a routing number. Please enlighten me on this.
Jhunz must have answered that for you. Thank you, Jhunz. However, everything I disclosed in the earlier post is true. BDO’s customer service representative really told me that. I do not blame her for that, though. Thank you again!
Tnx for the info guys… God Bless!
just last week, May 7, 2010. I go to Davao City to get an EON card because it will use that one to register in PayPal.
hello! who among here have tried withdrawing their paypal money to ALLIED BANK? may i know how long does it take for the money to appear in your bank account? it’s been 5 days since i transferred my paypal money to my ALLIED BANK savings account but the money isn’t there until now. does anybody know how much time it’ll take before i could withdraw my money? THANK YOU!
It usually takes 3-4 business days for withdrawals to my Union Bank account, am not sure with Allied. Business Days precludes Saturdays and Sundays. Thank you!
I just called somebody from metrobank to ask about their charges cos I didn’t notice they took 136.70 everytime I do the transfer from paypal..
I’ll be off to a Union Bank later… definitely close my Metrobank account one of these days…
Maybank has a fixed charge of 200 for the wiring fee as well.
how can we widraw the cash from paypal if we dnt have a credit card.. payal is really crazy
i have written a blog at paid critique about UNIONBANK and PNB. you can read it at http://paidcritique.blogspot.com/2011/08/choosing-between-eon-card-and-pnb.html
check it out.
I tried withdrawing to my Allied Bank ABC (Allied Bank Cash) Card before and there was indeed a charge of more/less 200 pesos. Now I am wondering if I will do that again. I am afraid that if I withdraw a bigger amount, they might also charge higher?
HI i been lookign to all bank here in pampanga looking what a bank is linkto paypal bcoz i have paypal and i dont have bank so i cant widraw money is send to my friend then she send it to me she less me 5$ to 1 to 100$ then 10$ for 200 or more and she i pay for her to transfer the money to me bcoz she is in laguna so i got charge double so i want to open account in a bank what is link in paypal. i was in union bank and asking me to go onlien to resgiter there to EON but they are required a employed or student im not student and im not employed. so what do i do now? please help me.