PayPal withdrawal through local banks

January 31, 2008 update

My money finally came through today even if I used the wrong bank code supplied by BPI last Monday. But, it had a deduction of Php 150. My Php 12,571.74 became Php 12,421.74. PayPal states that Php 250 will be charged if wrong bank details are supplied, I wonder why mine was deducted Php 150 only. Puzzler.

January 30, 2008 update

The BPI bank code posted below was given to me by BPI’s customer service last Monday, before Paypal released it’s official bank codes list. I withdrew using the code below. I have not received my money in my BPI account, nor has PayPal returned my money with the said Php 250 deduction fee if banks details are wrong. I will update this post if PayPal will penalize me. The new “official” BPI code is 010040018.

Original post

Philippine-PayPal account holders now have the option to withdraw through local banks, and so the title says. I will credit pinoymoneytalk.com on this, just because they bitched about it, but I did honestly read it first from mukamo.com.

To make this post short and swabe, simply log-in to your PayPal account and go to Withdraw. You will need to enter your bank account number, and your bank’s 9-digit code. Call your bank’s customer service to find out your bank code – it is not the same as the swift code, obviously, because that’s an 8-digit code. BPI account holders, save some time and use this code: 021000021. Withdrawing through local banks is free if you withdraw a minimum of Php 7,000.00. By the way, your account must be a Peso account. I withdrew $300 before this post and they gave me a 1 U.S. Dollar = 40.6800 Peso exchange rate. My PayPal account has already been deducted, even if the promised delivery time is 5-7 business days. Maybe in 5-7 business days I’ll update this post.

51 thoughts on “PayPal withdrawal through local banks”

  1. Haha. Wait, there’s something confusing me… With regards to BPI, why would PayPay suddenly change the bank code when BPI was already issuing the old 021000021 code through their customer service? The agents even said that this was indeed used for PayPal.

  2. I don’t think the two parties talked and finalized things before PayPal launched the new withdraw feature. ‘Cos if they did, then they would be on the same page. But from what we’re seeing, PayPal has an official “bank code” and BPI’s talking of another “bank code.” I think it’s irresponsible for Paypal to go ahead with the launch without informing and supporting local banks regarding this or, at the least, having a proper FAQ page for Bank Codes explaining what it is and where we can get it.

  3. Hi! Apparently I also made the same mistake. Stupid me for verifying the code with BPI pa when wrong info din naman pala ibibigay nila. Can I ask how you got your money? Did you have to report it to PayPal or did the transaction still get through even if you used the wrong bank code? Enlighten me please… Thanks! 🙂

  4. ser, how many days bago mo nakuha yung money? I used 021000021 for BPI Family Savings Bank.. today’s just the 3rd business day though but im worried na baka di ko makuha this week 🙁

  5. actually there are 2 BPI’s. BPI express bank (or just BPI bank) & BPI family savings bank. they are two very different banks owned by the same company. kinda like sister banks.

    the code for:
    BPI family bank = 021000021
    BPI express bank = 010040018

  6. sirs and ma’ams, i think i use the 010040018 code pero BPI Family ung account ko, Nov 13 ung transaction ko and sabi ng paypal Nov 20 daw deposit date, Haven’t heard from Paypal and BPI.

    anything wrong kaya?

  7. hello! actually, I’m about to withdraw my funds from Paypal for the first time and I wonder how long does it usually take to receive the money? Will it be deposited or transferred directly to my BPI Family savings account? I also wonder about the fees. I tried asking for help sa mismong branch but then totally clueless sila about Paypal.

    I am also wondering if I will be notified by either BPI or Paypal once the deposit has been done….

    Need some help so kindly enlighten me on my concerns. Thanks!!!

  8. i have been curious with this paypal thing and have been researching about this for hours now. I dont understand. Someone pls help me!

    I opened a Paypal account but I don’t have a CC. I DO have a bank accounts though. Can I use that to transfer money from my paypal account? Some says you have to have a Unionbank EON account for this. someone help

  9. I have a question though, why I cant withdraw it still asks me to link my credit or debit card to paypal? I dont actually have one and I just use paypal to get payments. Is there a way I can withdraw that thru BPI?

  10. hi! I’m having trouble with my electronic bank transfer…I also used BPI account and tried to withdraw my funds from Paypal to BPI but it’s been two weeks already and I still don’t see my credits posted on my bank statement… I think if there’s some problem with the transfer, Paypal said it would be rejected back to them with a corresponding fee, but until now my Paypal transaction says “completed”.

    what’s the best thing to do? would appreciate if you send my reply thru email..thanks a bunch!

  11. the code for:
    BPI family bank = 021000021
    BPI express bank = 010040018

    missWah thanks for the above info,

    Has anyone tried to use the bank code 021000021 for BPI family bank? Does it work?

  12. ” the code for:
    BPI family bank = 021000021…”

    hey guys!!! i just made a SUCCESSFUL paypal transfer to my BPI family bank account. transferred the amount last wednesday (aug 5) and got my money yesterday (aug 8).

    to missWah, thank you for the tip… i was sooooo hesitant to try this because i have NOT SEEN any blog claiming a successful transfer from paypal to bpi family bank. i have a peso account with bpi family bank.

    HOWEVER, bpi family bank charges P150!!! Sobra sila! It’s just a simple money transfer… i think i’ll just open a unionbank account kasi dun libre ang transfer. incidentally, i used my eon card to verify my paypal account. all i need now is a savings account with unionbank.

    but for those who still want to transfer their money to their bpi family bank account, now you know it works! i’m the guinea pig here! haha!

  13. Hello Guys and to Jay 🙂

    I have recently withdraw from paypal using these details:

    BPI express savings account (ATM)

    I insert the 16 digit code (front of my ATM card)

    I type-in the bank code which is: 010040018

    after 3 days paypal says the transaction is “completed”

    though it’s been 7 working days now and I still haven’t receive the money in my ATM.

    I am getting a bit anxious already. If someone can suggest something or help, I would really appreciate it.

    Thank. email me vlodia_cannon@yahoo.com

  14. hello,i am planning to open an account in BPI under direct deposit savings account,what is the bank code under that type of account?wla kc unionbank d2 samin tas accorsing sa mga forum un CSR ng unionbank ndi dw mganda,any suggestion?

  15. Hi everyone!

    @vlodia, nakuha mu na money mo?

    Ako din kasi, I used the 16 digits located in the front of my BPI atm card. Waahh mali ba? Alin po ba talaga yung account number.. yung 10-digit code sa likod? Please help!

    Thanks!

  16. @ile22 and @vlodia, yung number sa harap ng card ay ang card number mo. yung sa likod ang account number. dapat yung ginamit ninyo ay yung nasa likod kasi account number ang hinihingi ng paypal.

  17. wah n reversed un pag withdrw q.huhu…n charge p q trial nd error…huhu…sbi wrong bank info dw aq.Un bank account number b un yung nsa likod 12 digits ata un,kc un unang gnmit q un 16 digits sa harap tas aun n denied 🙁

  18. Hi! Just to give you an update guys.. I was able to receive the money from paypal in my bpi account. Kahit na mali ung account number na nilagay ko (used card number instead) ^_^.
    BPI was still able to identify and transfer to my correct account number given only the card number. 🙂

  19. hi,

    i just attempted to get my account verified using my BPI account. My problem now is that the 2 smalll deposits are not reflecting in my online statement through EON. I did the same process in the past for my wife’s account and the deposits came through after 2 business days (i used a citibank account). Does anyone have an idea kung bakit di pumapasok yung deposit sa BPI account ko? I can’t verify my account kasi e. Thanks!

  20. macoy, nareceive mo na yung 2 small deposits? sa akin feb 14 pa na sent, wala pa din up to now… we’ll see tomorrow (monday) … pag wala pa rin try ko na lang other banks bdo cguro.. badtrip naman

  21. @Ronald

    Me, I started on Feb 18, hanggang ngayon wala pa din. I tried opening an EON account, pero they said it would take two weeks to process. Whoa.

    They were even persistent that I have to present my Tax Identification Number. Ganyan ba talaga Unionbank?

  22. hey guys.. i’ve started to link my bpi direct express teller and wonder lang ako kung tama ba tong code na gimait ko para dun sa card ko? eto 010040018 taz ung account number ba eh ung 10 digits sa likod ng atm?
    sana tama… thanks po..

  23. hi guys.i need help tlga. i opened a bpi family bank account to link it with paypal. ano po ba need ko ilagay dun sa bank name?bpi family bank?bank of the phil islands?bpi family savings bank?ano rin ung bank code n need ko gamitin?need ur help..anyone pls..thanks

  24. hello..! true po bang marereceive rin yung 2 small deposits?
    nag-aacept b ang bpi ng small deposits?
    panu na po pag hindi nareceive?
    BPI direct express teller international po yung gamit ko..

    thank u po..

    mabel_daclan@yaho.com
    email me po.. tnx

  25. Hi Marc,

    Thanks for the info here. I just need to know ASAP…

    Is the Bank code for BPI the same as the bank code for BPI FAMILY BANK ?

    Is it also 010040018 ?

  26. Hi, Dave F…

    Yung sa BPI FAmily Bank po is 021000021. Iba po yun sa BPI (Bank of the Philippine Island)

  27. I use Unionbank’s ATM to encash my PayPal funds. Takes about 2-3days… take note that immediately after sending thru PayPal.. the fund transfer will be in pending status at PayPal and takes about a day to be cleard from PayPal. After that bank clearing takes 2-3days depending on working days and holidays.

  28. i am having a problem with my money transfer from paypal to metrobank atm account.i used my sisters atm,do i have to change the emailadress/name in my paypal to her name to match? the transaction was COMPLETED does this mean that mean that it is Okay since we have same LAST NAME? I haven’t recieve the money until now.It’s been 2weeks. How will i know the error of my transaction and IF so how will i refund it,I’m so LOST.ANYONE? thanks in advance..

  29. Hi i have been using BPI Direct for the transfer of my paypal cash. OO tama kayo, SOBRA nga mag charge ang BPI, grabe naman eh P150! kung ang paypal nga P50 lang ang charge sa withdrawal sa Pinas pa sila ng transfer ng money. Grabe talaga! prang nananamantala eh. I’m just so pissed off kasi, konti lang ung nakukuha kong profit from my clients who pays me via paypal. And when i have no choice but to get the funds there, kinukuhanan pa ko ng bank na yan ng P150! For goodness sakes! Hindi napupulot ang P150! malaki pa charge nila sa tubo ko sa isang items na binenta ko, my GOD!

  30. Bakit laging may problema sa BPI… Ganyan ba ang serbisyo ng bangko na yan? Plano ko pa naman sanang magbukas ng account for my Paypal… Lipat na nga lang ako sa iba…

  31. hi i just received my 14k paypal funds transferred to my bpi savings acct ( atm) took 4days including friday (holiday) & wikend to reflect to my bank account i used the code 010040018 and BPI charged me 150 for the transfer 🙂

  32. Simple lang naman yan. BPI wants to get a piece of the action in the Paypal transaction. Basically, Paypal is a competitor of BPI in the remittance business and they will do every trick in the book to bring down a competitor. I observed the same pattern with regards to my Xoom transactions. The first 4 transactions went smoothly but on my 4th and 5th remittance it was delayed by 5 days. What is strange is that I used the same account number throughout all these transactions. It’s quite obvious they’re resorting to unethical business practices i.e. disinformation, overcharging, delaying tactics etc. These are all designed to discourage our OFWs, Pinoy migrants, ODesk contractors etc. from sending/receiving their money through Paypal. A while back I heard Globe is going to tieup with Paypal through their GCash service. Globe and BPI are owned by the Ayalas so expect miracles to happen since I’m pretty sure GCash will get a cut out of the transactions.

  33. please give me a correct answered.wats limited in withrawing the money from paypal? i dont understand. can u please give me a direction? please. direction how to get the money. how can i get my money in paypal to bank account , how to fill up the limit?

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