How to Create Paypal Account in the Philippines and Withdraw Funds?
This page is from a request from Filipinos who work online and the internet. Paypal is a necessity not only for shopping online and transferring money to anyone around the world. This is also the major requirement to receive payment, commissions and salaries earned working online and doing freelance jobs anywhere.
It’s so easy to set up and open a Paypal account, not to mention it costs nothing. It’s free. All you have to do is follow the steps below and you are ready as a beginner and a newbie to receive and transfer money online.
Choose Philippines and select the account you wish to create (Personal, Premier and Merchant) Choose Premier if you’re not sure.
Fill out the information in the boxes given. Please type your details carefully and double check them before proceeding. Type your correct info that are used to your other billings and accounts too (ie: electronic billing, credit card, passport, debit card etc) otherwise you will have problems in verification if you have typed incomplete and inconsistent info.
You can uncheck the details for your credit card or debit card and just link later when you log in to your Paypal profile.
Tap Agree and Create account.
You’re done in creating your Paypal account. All you need to do next is to verify and link your Paypal account to your credit card or debit card account in the Philippines to receive or transfer money.
Verify your Paypal Account
Verifying Paypal account is a must especially for newbies and beginners because Paypal is one of the most secure way to pay and get paid online. At this point, your account has sending and withdrawing limits. To change this status, you must verify your account by loggin in and clicking the Get Verifiedtab found in your account or profile overview.
Link Paypal Account to Bank Account
Link your bank account in the Philippines to use Paypal in paying and receiving money. Usually users link their credit card account but for someone who will just focus in using Paypal for receiving money from online jobs and other works, they would just link their debit card like UnionBank EON Visa Electron.
I recommend UnionBank EON Visa Electron debit card because it’s the only bank account in the Philippines that is officially connected to Paypal. I’ve heard other banks like Landbank, BDO and BPI can also be connected to Paypal but I haven’t confirmed and proved that yet. Those banks didn’t release any official statement too regarding withdrawing and transferring money from Paypal to them.
It’s easy to have the EON Visa Electron. You can apply online and get the card the next day. It costs P350 for the annual fee. Means, you will pay only P350 every year to keep the account active. Plus this account can earn interests depending on your funds in your EON account. You can also check your EON savings account online via the EON Cyber Account.
Paypal money transfer to Unionbank Visa ATM Debit Card. Paypal is one of the world’s most convenient ways to send and receive money online. Working online and earning money like here in Hubpages and participating in the Ad Program requires Paypal because the income is sent to our Paypal account. Since there are more Filipino hubbers here now, I thought of sharing this hub about how to withdraw money from Paypal to Unionbank card or EON visa electron in the Philippines.
Why I chose Unionbank first among other banks here? It is simply because Unionbank is the only bank in the Philippines which officially announced their connection to Paypal. Other banks might have released their bank codes in verifying Paypal accounts, but they never were vocal about it. In the early days, online transfer of funds is done via the Unionbank Visa Electron. Now the bank launched cooler and easier way to link Paypal money transfer to Unionbank account by means of EON Visa Debit Card which offers lots of amazing services to its clients not only cash card accounts, debit card, credit card and more wire money bank account stuff.
With this, you can shop at malls or in the internet using the Unionbank EON Visa Debit Card. What I love most about it is the online banking where I can see my Paypal withdrawal successfully transferred to my Unionbank EON account. This is done by the EON Cyber Account which is so easy to set up. Applying for EON visa card is so easy too. I’ve discussed everything below so read on.
Advantages of using Unionbank to Paypal
- No initial deposit
- No maintaining balance
- Doesn’t charge fees when withdrawing money from Paypal
- Can be used as ATM savings account that could earn interest
- EON Card only costs P350 (annual fee)
How to withdraw and transfer money from Paypal to Unionbank Visa Debit Card
Requirements you need are:
- Paypal account
- Unionbank EON Visa Debit card
- EON Cyber Account (optional but I still recommend having this)
Your name and address in your Paypal account and Unionbank EON card must be exactly the same or else you will have problems in verification
Maintain your Cyber account active to have continuous access. Not logging in more than 90 days may cause the system to freeze your access. You need to call their customer’s support for this to activate it again.
Steps in withdrawing money from Paypal to Unionbank EON Debit Card
These are the procedures on transferring money from Paypal to Unionbank Visa Debit ATM Card. You must first link your Paypal account and EON debit card before withdrawing money otherwise you can’t proceed. Paypal must verify your bank account if it’s active and if it exists. For convenience, you also need to sign up to EON Cyber account to see and check your Debits and Credits in real time. I’ve included the perfect video for linking your Paypal to Unionbank card at the right.
1. Log in to your Paypal account
2. Click “Withdraw funds to your bank account” Choose UnionBank and the amount you wish to withdraw. Fill up the boxes with your correct info.
- Bank Name is UnionBank of the Philippines
- Bank Code is 010419995
- Your account name is your name on the card
- Your account number is the number under your name in the card as shown at the right.
3. Click Confirm.
Withdrawing P7,000 and above has no charges while withdrawing below P7,000 has P50 Paypal charges.
How to get Unionbank EON Debit Card?
It’s easy to have the Debit Card that can be used with your Paypal account. You can apply for it online via the official website of Unionbank of the Philippines.
1. Fill out the online application form
2. After that, Unionbank will send you an SMS and email notification containing your reference number and available UnionBank branch where you can pick-up your EON Debit Card.
3. Submit a photocopy of your 2 valid IDs. Show the original too.
4. Pay P350 as annual fee.
LIST OF BANK CODES IN THE PHILIPPINES
What is the 9-digit Bank Code in Paypal?
If you are withdrawing PayPal funds to your bank account in the Philippines, you’re probably wondering what the “Bank Code” is.
Don’t worry, PayPal has finally released the official list of Bank Codes for PayPal Philippines!
Users in the Philippines now have no problem attaching their bank accounts in Paypal, which means they can request to withdraw PayPal funds to their local bank accounts.
Be it the bank code for BDO, BPI, Citibank, Security Bank, Metrobank, Unionbank or any other bank in the Philippines, we’ve got them here — 100% confirmed and verified.
All these bank codes have been tried, tested and proven to be correct by Paypal users in the Philippines. In case there are banks with missing codes or incorrect bank codes, leave a comment below so we can investigate.
Here is the complete list of verified 9-digit Paypal Bank Codes.
Top 5 Bank Codes used in Paypal
|BANK NAME||BANK CODE|
|1||BANCO DE ORO (BDO)||010530667|
|2||BANK OF THE PHILIPPINE ISLANDS (BPI)||010040018|
|3||METROPOLITAN BANK & TRUST CO. (METROBANK)||010269996|
|5||UNION BANK OF THE PHILIPPINES (UBP)||010419995|
9-digit PayPal Bank Codes of other Philippine Banks
|BANK NAME||BANK CODE|
|6||ALLIED BANKING CORP||010320013|
|7||AUSTRALIA NEW ZEALAND (ANZ) BANK||010700015|
|8||ASIA UNITED BANK||011020011|
|9||BANGKO SENTRAL NG PILIPINAS||010030015|
|11||BANK OF AMERICA||010120019|
|12||BANK OF CHINA||011140014|
|13||BANK OF TOKYO||010460012|
|14||BANK OF COMMERCE||010440016|
|15||CHINA BANKING CORP (CHINABANK)||010100013|
|16||CHINA TRUST COMMERCIAL BANK||010690015|
|18||DEVELOPMENT BANK OF THE PHILIPPINES (DBP)||010590018|
|20||EAST WEST BANK||010620014|
|22||HONGKONG AND SHANGHAI BANK (HSBC)||010060014|
|23||JP MORGAN CHASE BANK||010720011|
|24||KOREA EXCHANGE BANK||010710018|
|25||LANDBANK OF THE PHILS||010350025|
|26||MAYBANK OF THE PHILS||010220016|
|27||PHIL BANK OF COMMUNICATION (PBCOM)||010110016|
|28||PHIL TRUST COMPANY (PHILTRUST)||010090039|
|29||PHILIPPINE NATIONAL BANK (PNB)||010080010|
|31||PHIL VETERANS BANK||010330016|
|32||RIZAL COMMERCIAL BANKING CORP (RCBC)||010280014|
|33||STANDARD CHARTERED BANK||010050011|
|34||UNITED COCONUT PLANTERS BANK||010299995|
|35||UNITED OVERSEAS BANK||010270189|
Happy online earning!