Comments on: Save More from Your Paypal Withdrawals

By: iya

iya — Sun, 20 Dec 2009 23:27:40 +0000

Hello gem,can i use BPI express teller savings account in paypal?There is no union bank in our place,my only choice is BPI.huhu,MY paypal was already verified using my payoneer mastercard but i cant withdrw my money from paypal,can i use to withdrw that using BPI express teller savings?How much will be the fee?I asked the support in BPI but they are not familiar in paypal

By: Tyrone @ Millionaire Acts

Tyrone @ Millionaire Acts — Tue, 07 Jul 2009 04:41:02 +0000

I've been a paypal user ever since last year. However, I do not use Unionbank in withdrawing my funds. Instead, I use my bank savings accounts. It was BPI before and now BDO. And you're right that they charge 200 for the incoming fee. .-= Tyrone @ Millionaire ActsÂ´s last blog ..Success Story of Chikka =-.

By: Gem

Gem — Thu, 11 Dec 2008 05:08:00 +0000

@Anonymous
Thanks for dropping by. The $5 “withdraw to card” option by Paypal is really expensive – you don’t want to do this often. Always use “withdraw to bank account” option.

Try to withdraw from those local ATMs – which are not necessarily those from Unionbank. ATM withdrawals this way are cheaper. The fees had not changed – I’ve mentioned the ATM withdrawal rates above. Or go further by following my suggestion of getting a Smart Money card if you will have to do this too often.

By: Anonymous

Anonymous — Thu, 11 Dec 2008 03:55:00 +0000

Hi Gem. I usually visit your site about your experiences with odesk, paypal and EON. I even got my new EON card when I read about it. The linking of paypal and EOn just took me 2 days and when I asked Unionbank about my Expuse no., it’s there already. I wanted to withdraw the money via bank account for it’s free if above 7k. But when I asked the branch about it, I can only withdraw my funds from my EON ATM card. For over-the-counter transactions are limited only and they are charging P100 for that. I said I was willing to pay the 100 bucks. But they would only allow it if my EON card is defective, lost or stolen. I don’t want to withdraw my funds from paypal to my card because it has $5 charge and that’s sayang right? Help!

By: Gem

Gem — Sun, 19 Oct 2008 02:13:00 +0000

@dyann
Usually a bank requires primary IDs like company, school, SSS, driver’s (these are the ones that I know)… Here in BDO Baguio branches, the announcement is posted all over their place.

In other banks they accept secondary identifications – I think the NBI clearance, marriage certificate, voter’s ID falls under these – if they want to accept that. To be sure, just ask the bank on which IDs are accepted.

Most banks accept two valid primary IDs, but if you don’t have these then ask the bank whether they can settle for secondary IDs instead.

By: dyann

dyann — Sat, 18 Oct 2008 14:03:00 +0000

(nbi clearance)
i mean the 2 valid IDs needed when applying for an EON account…

By: Gem

Gem — Fri, 10 Oct 2008 10:43:00 +0000

@dyann
NBI clearance? That's new! I don't think that is required. Applying for an EON card is simply just opening up a bank account with an accompanying debit/ATM card.

I cannot help you much with the passport renewal. Sorry. =(

Do get back to me when Unionbank changed the rules! =)

By: dyann

dyann — Fri, 10 Oct 2008 05:10:00 +0000

Hi, it’s me again…

do you know if an NBI clearance is accepted when applying for an EON account?

and how much does a passport renewal cost? and how long does it take?

thanks again…

By: Gem

Gem — Tue, 07 Oct 2008 08:37:00 +0000

I only know a few banks that do NOT have incoming EFT fees when choosing "withdraw to bank option in Paypal":
Unionbank (I had first hand experience on this)
Metrobank (haven't tried, but asked customer support about it)
Landbank (asked customer support about it, but I haven't tried it)

These are the banks that charges incoming EFT fees:
BDO = P200 (asked customer support, feedback from others including bloggers)
BPI = P150 (feedback from others including bloggers)

If you own a bank account on other banks, it is still best to ask them on their charges for incoming EFT (electronic fund transfers). Some of them may not be familiar on Paypal, so ask them about "incoming EFT charges" instead.

Thanks for asking!

By: dyann

dyann — Tue, 07 Oct 2008 08:03:00 +0000

Hi Ms. Gem,

Could you possibly post a list of Phil. Banks that do not have incoming EFT fees...?

I want to open a savings account for my paypal withdrawals kasi...

Thanks...