Question:
How do I withdraw my money from Paypal to BDO (Banco de Oro)? How much is the withdrawal fee? How long does it take for the money to be transferred to my local bank account?
Answer:
When you're done signing up for Paypal (here's a quick tutorial if you still haven't) and you wish to withdraw your funds in a bank in the Philippines, two of proven successful ways are through Union Bank's EON Card and through Banco de Oro (BDO) Debit Card.
When you're done signing up for Paypal (here's a quick tutorial if you still haven't) and you wish to withdraw your funds in a bank in the Philippines, two of proven successful ways are through Union Bank's EON Card and through Banco de Oro (BDO) Debit Card.
How to Withdraw your Paypal funds to Banco de Oro
In order for you to withdraw your money from Paypal to your BDO bank account or debit card, you need to add your bank account details. To do this, simply go to the My Account tab, Profile then Add/Edit Bank Account. You will then be require to provide the details such as the Country, Name on Account (make sure the name you provide matches that which is in your local bank account), Bank Name, Bank Code, Account Number and re-enter the latter. Please note that you have to enter the 10-digit account number (which is the same with your online banking account if you have one with BDO) and not the 16-digit numbers which you could see in your ATM card.
Below is a complete list of Paypal Bank Codes in the Philippines. For Banco de Oro, it is 010530667.
Official List of PayPal Philippines Bank Codes
| BANK NAME | BANK CODE |
|---|---|
| ALLIED BANKING CORP | 010320013 |
| AUSTRALIA NEW ZEALAND | 010700015 |
| ASIA UNITED BANK | 011020011 |
| BANGKO SENTRAL NG PILIPINAS | 010030015 |
| BANGKOK BANK | 010670019 |
| BANK OF AMERICA | 010120019 |
| BANK OF CHINA | 011140014 |
| BANK OF TOKYO | 010460012 |
| BANCO DE ORO (& EQUITABLE PCI BANK) | 010530667 |
| BANK OF COMMERCE | 010440016 |
| BANK OF THE PHIL ISLANDS (BPI) | 010040018 |
| CHINA BANKING CORP | 010100013 |
| CHINA TRUST COMML BANK | 010690015 |
| CITIBANK N.A. | 010070017 |
| DEVT BANK OF THE PHILS (DBP) | 010590018 |
| DEUTSCHE BANK | 010650013 |
| 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 |
| JP MORGAN CHASE BANK | 010720011 |
| KOREA EXCHANGE BANK | 010710018 |
| INTL NEDERLAND BANK | 010660016 |
| LANDBANK OF THE PHILS | 010350025 |
| MAYBANK OF THE PHILS | 010220016 |
| METROPOLITAN BANK & TRUST CO | 010269996 |
| PHIL BANK OF COMMUNICATION | 010110016 |
| PHIL TRUST COMPANY | 010090039 |
| PHIL NATIONAL BANK (PNB) | 010080010 |
| PRUDENTIAL BANK | 010150018 |
| PHIL VETERANS BANK | 010330016 |
| RIZAL COMML BANKING CORP (RCBC) | 010280014 |
| SECURITY BANK & TRUST CO | 010140015 |
| STANDARD CHARTERED BANK | 010050011 |
| UNITED COCONUT PLANTERS BANK | 010299995 |
| UNION BANK OF THE PHILS (UBP) | 010419995 |
| UNITED OVERSEAS BANK | 010270189 |
Once done adding your bank details, go to My Account tab, Withdraw and click on the option Withdraw funds to your bank account. The second option which is to Withdraw funds to your card is used when withdrawing your funds to your Union Bank's EON card.
Type in the amount you wish to withdraw and since the option says Banco de Oro (Philippines), simply press Continue.
How much does it cost? How long does it for the fund to be transferred?
If you choose to Withdraw funds to your bank account (Banco de Oro), withdrawals from P7,000.00 PHP or more is free of charge while a fee of P50.00 will be automatically deducted for for P6,999.99 PHP or less withdrawal. It takes 2-4 business days (without holidays) for the money to be successfully transferred.
However, if you're going to Withdraw funds to your card, it would take 5-7 business days before the money is reflected to your local bank account (EON Card or Credit Card) and a fee of P250.00 PHP will be deducted.
Successful Withdrawal from my Paypal Account to my Local Bank Account
Below is a screenshot of how I was able to successfully withdraw my funds from Paypal to Banco de Oro. There will also an email which will be sent to your email associated with your Paypal to notify you of the completion of the transaction. Happy freelancing and withdrawing! ;)
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