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via Pinoy Money Talk

Sign Up For Paypal Philippines

This is great news. Thanks Pinoy Money Talk for the heads up.

Effective yesterday, PayPal started allowing users in the Philippines to withdraw funds to local bank accounts.
Yes, it’s confirmed. Log in to your PayPal account and see that in the My Account > Withdraw page, you now have an option to directly transfer funds from your PayPal account to your bank account in the Philippines.

The fees:

1. It’s for Free
for 7,000.00 PHP or more

2. 50.00 PHP
for 6,999.99 PHP or less

But it will take 5 to 7 business days for the transfer to be complete.

Here is the screencap when I logged in to Paypal Philippines account.

To add your bank account , log in to PayPal, go to My Account > Profile > Add or Edit Bank Account then fill in the Bank Name, Account Number, and Bank Code.

Bank Codes
Be careful when you add the 9 digit code of your bank to complete this process so you don’t get fined 250 pesos. Check the Paypal Philippines Bank Codes and

Read Paypal Withdraw Bank Account FAQ

I just transferred Paypal funds to my BPI account at 1 U.S. Dollar = 40.6800 Peso. We’ll see in 5 to 7 days if it was a successful transaction.

Log in to your Paypal Account now if you don’t have one yet, join Paypal.

This entry was posted on Saturday, January 26th, 2008 at 11:22 pm and is filed under internet. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.