Withdraw PayPal to Philippine Banks
Posted on January 27th, 2008 | Subscribe in a Reader | Subscribe by Email
1st Update: I can’t add my bank right now, I need to call Banco de Oro first and get the right Bank Code. Last year, when I asked BDO for their Bank Code, they instead gave me a Swift Code, which I think is correct. But PayPal cannot accept Bank Codes less than 9 digits, BDO only has 8 (BNORPHMM). My BDO Bank Account is a Peso Savings Account.
2nd Update: I called BDO Call Center (631-8000) and asked for the Banco de Oro Bank Code for PayPal. Unfortunately they do not have any Bank Code other than the 8-Character Swift Code that they have. Maybe very soon they will be giving out their Bank Code when more people will ask for it.
3rd Update: I now have the Banco De Oro (BDO) Bank Code. It is 010531705. This is from Banco De Oro Reposo Branch. They call it BDO Branch Routing Symbol Transit Number or BRSTN. They said it is the number found a check issued by the Bank. That could also mean this number is only from the specific branch. You might need to go to your own branch to get the BRSTN. You can use this number also at your own 250 Peso risk. If you say “Banco De Oro Bank Code” or BDO Bank Code” or “BDO PayPal Code”, they will only be scratching their heads and give you the SWIFT Code. I will still have to test it to see if I have the right code required by PayPal or will I pay P250 if this is not the right number.
4th Update: I’ve just made my first PayPal withdrawal to my Banco De Oro account. I will post again in 5-7 working days, probably February 6th. Thanks for reading.
5th Update: Finally PayPal released their own list of Bank Codes in the Philippines, including the BDO Bank Codes. The number is 010530667. Should I cancel my first transaction and use this instead or not? More Bank Codes here. A very dumb move from PayPal for not releasing this when they told the world they will be having this new feature, leaving all of us guessing!
6th Update: According to their Help Center, you CANNOT cancel a withdrawal. I can only hope the BDO Bank Code I provided earlier (before they released their Philippines Bank Code List) will still work this coming February 6th or I will be fined for entering the unofficial Bank Code. More updates soon.
7th Update: It worked! The transfer was a success using the BDO Bank Code (010531705) I got from the bank and it only took 4 days!
Well, what do you know, PayPal finally decided to add a Philippine Bank account due to a very popular demand from PayPal Pinoys all over the Internet! Months ago I opened a Union Bank EON account because PayPal Philippines accounts were only able to withdraw money to a US Bank Account and to a Credit Card / Debit Card. Now that they have this withdraw to PH Banks option, I think this is another good news to all of us, especially to those who doesn’t have a Credit / Debit Card.To add your Bank Account in the Philippines, what they will need is your Name, the Bank Name, Bank Code (Swift Code?) and Account Number to be able to send money to your Bank Accounts in the Philippines. I will try to add mine and will post updates in the future. I also noticed there is only a US and Philippines listed under country, could this be only offered to these two countries? Ang swerte naman ng Pinoy! Update: Indonesians can also withdraw their money from PayPal to their Indonesian Bank accounts.
Will it be Goodbye UnionBank then? We will wait and see.
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- PayPal for the Philippines now available
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January 28th, 2008 at 7:29 pm
Other countries listed under “Send. Receive. Withdraw to a Local or U.S. Bank Account or a card.” can withdraw to their local bank accounts.
January 29th, 2008 at 11:18 am
thank you for the info!
February 1st, 2008 at 11:46 pm
Ano ba ang BDO account mo? savings or ung cash card nila. sakin kasi cash card tapos nagask ako thru email at sabi sa response indi daw pde ang cash cards ng BDO for online transactions. nasa account mo naba talga ang pera? or completed lang ang status sa paypal account mo?
I would appreciate a reply. email ko is romeuy777 [@] gmail.com
February 2nd, 2008 at 8:48 am
Thank you for the update Alfredo. At least we now know withdrawing via bdo is without hassle. There are people right now including us whose paypal withdraw via eon has been pending for more than a week now. Please check out this post:
http://cantalktech.com/2008/01/31/pending-paypal-withdraw-transaction/
February 5th, 2008 at 3:19 pm
i initiated a withdrawal yesterday on BDO using the 010530667 bank code. tingnan natin kung anong mangyayari, sana, 4 days lang din. hehe.
February 6th, 2008 at 11:50 pm
congrats.. bilis no..ngwithdraw din ako but to my eon account number. completed na yesterday.. feb 4 ako ng withdraw.. i expect to see the money in my account bukas..
February 9th, 2008 at 11:13 pm
Pwede ba cash card sa BDO thanks!
March 19th, 2008 at 8:02 am
I really appreciate the info. This really is helpful. Thanks!
May 14th, 2008 at 3:25 pm
withdraw PAYPAL to your PHILIPPINE bank is now possible…how about doing it the other way around??? can we send money from our bank account to your paypal account??
pls advise.i dont have credit card.but i have BDO account.
May 20th, 2008 at 3:23 pm
bakit sakin, after i try to withdraw funds to my chinabank account, it asks me to add a credit/debit card.. ganun ba talaga? can BDO cash card be used?
thanks
May 29th, 2008 at 6:36 pm
my bdo in pasay city philippines tells me that they are not affiliated with paypal. i have set everything up. the funds are waiting in paypal. i have a debit/saving acct. can someone please help? thanks so much anna
May 29th, 2008 at 8:56 pm
@all - thanks for the comments
1st. you must have credit card, or at least Unionbank EON Card so you can activate the withdraw option.
2nd. then you can add your bank as a secondary withdraw destination.
May 30th, 2008 at 8:17 am
thank you so much 4 ur response.
can you get this EON card @ BDO bank?
thanks again anna
May 30th, 2008 at 3:18 pm
@anna - EON Card is only available at Union Bank.
May 30th, 2008 at 6:03 pm
hi, alfredo!
I have a problem with my paypal. I am trying to widraw with my bdo atm account, but everytime I enter my debit card (bdo atm) a prompt message appears saying that the card is denied. what is this about? does it mean i cannot use my bank account from bdo to widraw money?
May 30th, 2008 at 6:12 pm
My status there is unverified and asking me to:
Link and confirm my debit or credit card - Link and confirm your card to get Verified and lift limits on your PayPal acccount.
Does it mean that i cannot transfer the money to my bdo bank without debit card like the atm?
May 30th, 2008 at 6:22 pm
@kristine - yes you need to confirm it first. you need paypal code for this. I would recommend you get EON Card from Union Bank to enable withdrawal and then add BDO as secondary withdrawal destination. I think they require a Credit Card first before you can withdraw to banks and EON Card works as CC alternative.
May 30th, 2008 at 6:35 pm
so if i got EON card from Union Bank, i will use that EON card as my debit card? and not anymore my atm? If I use the EON, I could withdraw money then?
May 30th, 2008 at 6:44 pm
@kristine - yes, you can withdraw money via Union Bank EON. You can then later add your BDO as secondary withdraw option
May 30th, 2008 at 7:09 pm
thanks alot
August 11th, 2008 at 11:48 am
hi, i’m a newbie at paypal and was as confused as the others. this blog and the conversations that follow have been really helpful. i also noticed other posts that could be of great help. keep them coming. and thanks a lot!
August 14th, 2008 at 9:55 pm
@bingcas - thanks.