essential tidbits

Just some PayPal funds transfer blahs

April 11, 2008

After learning about PayPal’s new withdrawal feature allowing fund transfer to local banks, I was very much excited to try it out and add my BPI savings account. But I was in Manila then, and can only access the Internet in a public computer. So I saved my excitement for few more days until I got back to Negros and was able to access my PayPal safely at home.

Withdrawal from PayPal to BPI was a success…I was grinning ear to ear until I noticed something in the transaction details few days after. The amount transferred to BPI was Php150 lesser than what should have been deposited. Hmmm… it meant BPI charged me for the incoming fund transfer from PayPal. What a disappointment!

So that explains why I got Php150 less the total amount when I did a test transfer from my UnionBank savings account to my BPI savings account last year. And recently my big sis transferred some dollars to my BPI account and I noticed the amount that reflected was way too low. I thought it was just some discrepancy in the conversion rates from dollar to peso.

Now I know better. I don’t transfer funds from PayPal to BPI now. I added my UnionBank savings account to PayPal and have been withdrawing funds from it many times already. So far, no charges for incoming funds. Yey to UnionBank. I’m eyeing BDO next time since it has a branch near our home. :)

Posted by tidbits at 12:05 pm | permalink

Previous Comments

Question: for your Unionbank account, what entries did you use for ‘Bank Name’ and ‘Bank Code’? I’m looking forward for your quick response. Thanks.

Posted by simpleyesa at April 14, 2008, 8:20 am

Simpleyesa:

My UnionBank is eWallet (savings account) not EON. I dunno if EON falls in the category of local bank account or credit card in the withdrawal option of PayPal.
Anyway, you can read more details in this comprehensive page from ebay philippines: http://pages.ebay.ph/bankwithdrawal/
The list of bank names with the corresponding codes can be found here:
http://pages.ebay.ph/bankwithdrawal/bank_codes_ph.html
For Unionbank, I used this:
bank name: UNION BANK OF THE PHILS
bank code: 010419995

Posted by tidbits at April 15, 2008, 2:47 pm

really BPI charge ang BPI, ?? eh BPI pa naman ako…d ko pa na try kasi im still using my sis’ paypal…sad naman kung meron

Posted by jennyL at April 25, 2008, 6:07 pm

Jenny:

yup, BPI charges Php150 when you transfer funds to your account online. better try other local banks na lang.

Posted by tidbits at April 28, 2008, 11:35 pm

Good day! i need your help. i have my eon card already bt when i get enrolled to my paypal account my card get’s denied what’s wrong with this?. and its already 5 days ago since i get my eon card in the bank until now my eon card doesn’t work huhuhuhu…

Posted by melms at May 13, 2008, 10:57 am

Melms:

Hello… my sis also had problems with her eon application, it had been denied many times by paypal, but just few days ago, we were surprised when paypal finally accepted it. now all we have to wait is the code from unionbank.

Maybe the processing takes longer than what’s expected? You can call their customer care at 84-186 if you’re from manila.

Posted by tidbits at May 26, 2008, 7:42 am

walang charge ang bpi pag min P 7,000 ang e withdraw mo from paypayl to BPI..:-)

Posted by coolits at January 15, 2009, 5:42 am

from what i’ve been reading from blogs here and there, BDO charges even more than BPI. Its 200php.

Posted by angel at June 5, 2009, 2:08 pm

I agree with Coolits, I have tried it. BPI will not charge any amount if you withdraw 7,000 and UP but lesser than it BPI will charge for 200 Pesos per withdrawal.

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