Tutorial on How to Transfer Paypal to BPI
Paypal to BPI money trasfer process
This hub contains important information regarding Paypal and BPI – a local bank here in the Philippines.
Before we begin, here is what to expect from this Paypal BPI Tutorial and Guide
- Withdrawing Paypal funds to BPI (a local bank here in Philippines)
- Tips, things to remember, and requirements when withdrawing Paypal funds
- How to verify and fund your Paypal account using BPI (including tips and things to know when doing so)
It is also important to note that the steps mentioned here is exclusive only for BPI. HOWEVER – the steps may also be applicable to other local Philippine banks such as Metrobank, BDO, Unionbank, etc... Of course there might be some minor difference like bank routing code (9 digit bank code), number of processing days, processing fees, etc...
Lastly, since we are on the topic of withdrawing money, this post will also briefly discuss some methods on how I put funds or deposit / transfer money to my Paypal account.
Paypal to BPI Requirements (withdrawing Paypal to BPI requirements)
A lot of Filipino Paypal users may not realize this but they can transfer their Paypal funds to physical cash by transferring it to their local bank.
The only thing stopping them is concern or worry that the transfer may not be successful or an error may occur which may lead to the possibility of the money being lost in cyberspace.
So before withdrawing Paypal funds to a BPI savings account, be sure that the following requirements are met:
- Correct bank routing code – also called 9-digit bank code (please be advised that this is not the card number nor the account number)
- Registered name with Paypal must match with the one on the bank account
- Account with the bank must be active or working
- Paypal account must be verified
- The savings or ATM account to which money will be transferred to MUST first be ADDED to your Paypal account (see steps below)
Once the above requirements are accomplished, the user may now proceed with the funds transfer / withdrawal.
Steps on how to add or link BPI savings account to your Paypal account:
- Log in to your verified Paypal account
- Click the Profile menu which is part of the “My Account” section
- A drop-down box will appear – choose “Add / Edit Bank Account”
- Supply in the necessary information of BPI savings (ATM) account
FYI please that you will withdraw your Paypal funds to a savings or ATM account – and NOT your credit card account
Steps on how to withdraw Paypal funds to BPI –
Withdrawing funds from Paypal to BPI (or any other local banks for that matter) is relatively easy because this option is easily viewable / accessible once a user logs in to his or her Paypal account.
The “Withdraw Button” is along the “Add Funds” and “History” button.
After clicking the said button, the user will now be directed to a page wherein the person must choose whether to withdraw the money to the bank account or to a registered Paypal card. For our tutorial, we will choose the former.
After selecting the “withdraw to bank option” you will be directed to the following page (refer to picture below)
Even though it is possible to fund your Paypal account with your credit card, bulk of my Paypal funds ($290) are coming from other online sources like HubPages, oDesk, and YoHoHoN
As can be seen on the photo above, I am withdrawing $290 to my BPI ATM account.
Be sure to double check the important fields like amount to be withdrawn, appropriate bank, and if the last four digits corresponds to the last four digit of the bank account.
After double checking the mentioned fields, proceed by clicking on the “Submit” button.
Review your withdrawal section –
Before finalizing the transaction, Paypal will ask you to verify again if all information are correct. Below is a screen shot sample of the particular page.
This portion is the last chance that you can edit the transaction. Be sure that all info are correct before proceeding.
Your withdrawal request is being processed –
This screenshot is the last portion of the transaction. This part will ask you if you want to visit the details of the withdrawal request or if you would like to go back to your account overview page.
Transaction details –
If you choose the first option, here is a screen shot sample of the transaction details.
How to know if Paypal to BPI is successful?
To know if Paypal to BPI fund transfer is successful, simply check your bank balance or ask for a copy of the statement balance.
As can be seen in the photo below, there is a 150 pesos banking fee for the transaction.
If you will notice on the first picture, the original amount supposed to be given by Paypal has been deducted by 150 pesos and it took three days to process - which is actually quite fast and hassle free.
By the way, the transaction will fall under the remittance category.
Tips and advice on how to have a successful Paypal to BPI transfer:
- Do the transfer on a Monday. As much as possible avoid the transaction process pass over the weekends or holiday
- Experiment first with a small amount and see if it will be successful
- Take details / pictures (screenshot) of the transaction. For readers who are not familiar on how to take a screenshot or creating a copy of the current display of the monitor, here is a good tutorial on how to do such thing: How to use Print Screen in Windows Tutorial
How to fund and put money to Paypal
There are many ways on how to put money to Paypal. Listed below are my favorite ones:
- BPI Credit Card
Paypal and BPI credit cards
As mentioned numerous times on this post, BPI savings and ATM accounts are mainly used to withdraw money from Paypal.
However, BPI credit cards are used to:
- Verify a Paypal account
- Used for online purchase when it has been linked already
- Fund a paypal account
Adding, linking, and verifying Paypal with a BPI credit card
When you used your BPI credit card to verify your Paypal account, it will automatically be linked / added to your Paypal account.
Below are the steps on how to do so:
- Log in to your PayPal account.
- Click “Profile” (described on the earlier section of this article)
- Select “Add / Edit Credit Card”
- Choose the appropriate card type (Mastercard or Visa depending on your credit card)
- Enter necessary details
- Follow on-screen instructions
When the above steps are completed, Paypal will:
- Charge 150 pesos which will reflect on the billing statement (this amount will be refunded by Paypal)
- This is actually a code that must be inputted to finalize linking the credit card and completing the process.
- The code can be distinguished with the prefix “PP” (this step is also mentioned on Paypal’s instruction page)
Final tips and things to remember
We will end this tutorial article with some last tips and things to remember when using BPI credit card to link / verify your Paypal account:
- BPI e-creditcard can be used (BPI e-Creditcard is BPI’s way of dedicating a credit card solely for online purchases. Anyone one can get this as long they have a primary credit card)
- BPI prepaid credit cards can also be used. But in doing so, make sure that there is a 150 balance on the BPI prepaid credit card
- To view the statement balance of the prepaid credit card and retrieve the code, the owner must enroll the account on BPI’s online portal or call the customer service number
- It is actually more advisable to use a prepaid credit card to ensure that you stay within your budget
- In regard to the bullet directly above, I put a cap or limit on my e-creditcard to prevent possible insurmountable charges