Paypal.com/ph users can withdraw their money to a Philippine bank account.

*There may be a limit in the amount you can withdraw if your Paypal account is not yet verified. So make sure you verify your Paypal account first (using a debit or credit card – VISA or MASTERCARD) before withdrawing any money.

To do it:

1. Log in and go to Profile > Add/Edit bank account
• Find your bank code here.
• Make sure your bank account number is correct (usually 10 digits).
2. Go to Withdraw > Withdraw funds to your bank.
3. Follow the prompts.

The official bank partner of Paypal Philippines is UnionBank. Users who have a UnionBank EON account can enjoy less fees when withdrawing their money.

The minimum withdrawal amount is P500.

Standard Fees from Paypal:

• Withdrawals P7,000 above: free
• Withdrawals P6,999.99 and below: P50

Dollar funds will first be converted into PHP Peso before it gets transferred to your local bank. If your funds are already set to Peso, then good for you, since Paypal’s Dollar-Peso exchange rate is slightly lower than the daily going rate. You can’t withdraw your money in Dollars (or other currency) even if you have a Dollar (or foreign currency) account in the Philippines. However, if you have a US bank account, you can do so (US$).

Additional fees:

• Return money. If the money is not successfully transferred, like if you placed wrong account information, you will be charged P250 return fee, for the money to be put back in your Paypal funds.

• BPI P150
• BDO P200
• Allied Bank P200
• Metrobank P100-P250 (I think it’s percentage-based)
• PNB P120
• China Bank P200
• Landbank P100
• Only Unionbank EON (the one affiliated with Paypal) doesn’t charge this fee.

This step-by-step (with screenshots) procedure I found is outdated but still very useful.

Now, these info is only for bank account withdrawals. Withdrawing to a Debit/Credit card is another thing – refer to future post here.