This post is regarding How to withdraw funds from Paypal to your Bank Account
I receive a notification email from Paypal today. It says that Infolinks, Inc. sent me a $57.++ dollars. The problem is how do I transfer this funds to my savings account. I’ve closed my BDO account last week due to some Do Dad’s thing( it’s a Roberto Kiyosaki’s term). So I decided to add my Payroll account bank to my Paypal account in order to successfully make a transaction with paypal and definitely transfer funds.
So here we go bloggers,
First, login to Paypal.com with your account. On My Account tab, Click Withdraw. The one with the Underline on the screenshot. You will be presented with two options. You can either Withdraw funds to your bank account or withdraw funds to your card.
Withdraw funds to your bank account – You can use your ATM account, savings account or Debit accounts.( I register here because I’m going to use my Citibank savings account.
Withdraw funds to your card – You can use your credit card to transfer funds here. By the way, Don’t use the credit card you’ve use when you verify your paypal account. It would says “ Account Already Exist”.
In order to accomplished the requirements for the Withdraw funds to you your bank account. You will be needing the Bank Name and Bank Code. (please see below the Bank Name and bank codes.) Keep in mind that wrong bank codes and transactions would cost you Php 250.00. So double check your entry.
Here are the official List of Paypal bank codes. You can also verify if the bank name you are using are correct.
| Official List of PayPal Philippines Bank Codes | |
| Bank Name ↓ | Bank Code |
| ALLIED BANKING CORP | 010320013 |
| ASIA UNITED BANK | 011020011 |
| AUSTRALIA NEW ZEALAND | 010700015 |
| BANCO DE ORO (& EQUITABLE PCI BANK) | 010530667 |
| BANGKO SENTRAL NG PILIPINAS | 010030015 |
| BANGKOK BANK | 010670019 |
| BANK OF AMERICA | 010120019 |
| BANK OF CHINA | 011140014 |
| BANK OF COMMERCE | 010440016 |
| BANK OF THE PHIL ISLANDS (BPI) | 010040018 |
| BANK OF TOKYO | 010460012 |
| CHINA BANKING CORP | 010100013 |
| CHINA TRUST COMML BANK | 010690015 |
| CITIBANK N.A. | 010070017 |
| DEUTSCHE BANK | 010650013 |
| DEVT BANK OF THE PHILS (DBP) | 010590018 |
| EAST WEST BANK | 010620014 |
| EXPORT & INDUSTRY BANK | 010860010 |
| FUJI BANK | 010640010 |
| HONGKONG AND SHANGHAI BANK (HSBC) | 010060014 |
| INTL COMML BANK OF CHINA | 010560019 |
| INTL EXCHANGE BANK | 010680012 |
| INTL NEDERLAND BANK | 010660016 |
| JP MORGAN CHASE BANK | 010720011 |
| KOREA EXCHANGE BANK | 010710018 |
| LANDBANK OF THE PHILS | 010350025 |
| MAYBANK OF THE PHILS | 010220016 |
| METROPOLITAN BANK & TRUST CO | 010269996 |
| PHIL BANK OF COMMUNICATION | 010110016 |
| PHIL NATIONAL BANK (PNB) | 010080010 |
| PHIL TRUST COMPANY | 010090039 |
| PHIL VETERANS BANK | 010330016 |
| PRUDENTIAL BANK | 010150018 |
| RIZAL COMML BANKING CORP (RCBC) | 010280014 |
| SECURITY BANK & TRUST CO | 010140015 |
| STANDARD CHARTERED BANK | 010050011 |
| UNION BANK OF THE PHILS (UBP) | 010419995 |
| UNITED COCONUT PLANTERS BANK | 010299995 |
| UNITED OVERSEAS BANK | 010270189 |
Once you are done adding your bank account to your paypal account. You are ready now to transfer funds to your savings account. Type in the amount you wish to withdraw from your paypal funds and hit continue.
Before I forget here are the minimum withdrawal amounts Paypal will allow you to withdraw and transfer funds.
You will be presented with the transaction details. It’s like this below.
then a review of your withdrawal before you submit and your done. Congratulations.
And for security purposes. They will also email you the transactions and details of the withdrawal process.
