Withdrawing Paypal Funds: Should I Choose “Withdraw to Bank” or “Withdraw to Card”?
This is one of the questions that is often asked by those who are new to withdrawing funds from Paypal. Both are effective ways to take out those funds, but one of them is better.
“Withdraw to card” versus “withdraw to bank” Paypal options
I never tried the “withdraw to card” option given by Paypal, although I’ve seen a lot of others who were able to do that successfully. But I always notice that this method is always more expensive and takes more time to get into one’s account. One needs to pay $5 for every “withdraw to card” option in Paypal and it takes a longer time to get those funds in (I usually see people getting those funds 5 to 7 days). I blame Unionbank for publishing this instruction in their website:
I’ve always wondered why Unionbank had instructed people to use the “withdraw to card” option. At countless times, I had always used “withdraw to bank” option which is always cheaper and faster. I always get those funds in the bank account in just three business days (based on US holidays). So far, I never got problems with that.
How cheap does “withdraw to bank” option go? The fees are listed at the right hand column.
This option does not only work on Unionbank EON bank accounts but to any other Philippine bank accounts as well. I still prefer having those funds into my Unionbank EON bank account because I don’t get any incoming fund charges – I get the full amount out from Paypal.
Here’s to illustrate one successful withdrawal I had last year for a small amount. I only got a P50 deduction out from Paypal.
Funds come into my Unionbank EON account in just 3 days without any extra charges.
Don’t have a Paypal account yet? Click the logo below to sign up for a FREE Paypal account.
Pastilan
January 8th, 2009 at 6:39 am #
Thanks for this one Gem. this is very useful.
Pastilan’s last blog post..Cashing Our Again
Snow
January 8th, 2009 at 12:08 pm #
nice post gem…i may bookmark this for future reference.
Snow’s last blog post..Blog Review: Cute Things Falling Asleep
Gem
January 8th, 2009 at 12:14 pm #
I am about to rewrite those old posts about Paypal. Tamang tama lang ang concerns mo. Here’s the link and hope it will help you too: http://www.theladyprogrammer.com/one-stop-odesk-corner/
iceah
January 8th, 2009 at 4:28 pm #
thanx gem for this post c: very helpful ito samin ngayon c: nadebit tuloy kmi kainis nga e, a week or so pa daw makukuha :c thanx for this mare c:
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miah
January 8th, 2009 at 4:50 pm #
buti ka pa you can withdraw from your unionbank account.. sus ako twice or thrice na yta na hindi pumasok sa account ko yung winithdraw ko and nabalik sa paypal, pero may returned fee na 250php… bad trip maxado… ginawa ko i added a new bank accnt nlng buti pa dun na-ok but may fee lang…
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anitobopper
January 8th, 2009 at 7:37 pm #
Is it safe to give personal info on my unionbank account even if the email came from their customer service?
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calvin
January 8th, 2009 at 8:30 pm #
nice info. ill keep this in mind. eh pano naman kung gusto mong maglagay ng laman sa paypal?
calvin’s last blog post..Thundercats movie trailer
Gem
January 8th, 2009 at 11:50 pm #
Thanks. Do tell me kung effective. oo kung may problem ang transfer babalik rin sa Paypal yun, pero may bawas
The Work From Home Mother
January 8th, 2009 at 11:52 pm #
I always use my Paypal Debit card to get my money out instantly. If you don’t have one, you can get one for free.
The Work From Home Mother’s last blog post..Work At Home Spotlight – Sitel Homeshore
blanne
January 9th, 2009 at 5:47 am #
yung first time ko pa, i opted for withdrawal from paypal to bank. mas matagal nga, and it costs $5 which is far more greater than PHP50 na payment sa withdrawal from paypal to card.
question lang po, diba may annual fee na PHP350? do i need to go to the bank or will they immediately get payment from my account (provided na may laman ang account ko)?
blanne’s last blog post..Have You Ever Tag
Pastilan
January 9th, 2009 at 8:59 am #
@The Work From Home Mother, Paypal Debit card is only for users living in the USA.
Pastilan’s last blog post..Cashing Our Again
[Blocked by CFC] Gem
January 9th, 2009 at 10:55 am #
True. I tried to get one Paypal debit card, but unfortunately, it not yet offered in my location (Philippines).
Gem
January 9th, 2009 at 11:03 am #
Sana offered na rin sa atin. It would have been another option available. I don’t really like having few options to withdraw payments online. Local banks have not kept up with these payment options.
Gem
January 9th, 2009 at 11:11 am #
I don’t know how Unionbank wants to get that P350 annual charge. I think you have to pay that yourself (not sure on this one).
Gem
January 9th, 2009 at 11:19 am #
There are several ways – that I know:
- one is to use it to collect payment from different sites. Kumikita ka naman from paid reviews di ba?
- another is to have another Paypal user send you funds, that’s through Paypal balance.
- another is when another person wants to send you payment through credit card.
- some people were able to use their credit or debit cards as secondary payment, in case those Paypal funds run out, Paypal gets your funds from your linked credit or debit card.
- if you want to add funds yourself, have a bank account in the US (which is only possible if you are a resident in the US).
Gem
January 9th, 2009 at 11:23 am #
Thanks for asking. I prefer to call their customer service than calling them. Still safer that way than doing that through email. I’ve noticed that Unionbank has their own built-in email system which is not even connected to your email, but I’m more comfortable calling Unionbank support.
Gem
January 9th, 2009 at 11:26 am #
Sayang naman. I’ve asked Metrobank, wala rin daw silang receiving charges. Baka gusto mo subukan to save more.
Gem
January 9th, 2009 at 11:28 am #
Thanks! I plan to rewrite old posts about Paypal, dami ko ng experience dito. That’s the series that I would like to have. For the meantime, eto muna: Getting Paid
Pastilan
January 9th, 2009 at 12:01 pm #
Yes, it would be nice if Paypal Debit card is made available for non-US users. There would be no waiting time, when the money comes into your Paypal account you can withdraw it from anyATM. I hope this year this option would be available for us.
Pastilan’s last blog post..Cashing Our Again
calvin
January 10th, 2009 at 12:06 am #
yeah what im interested in is how you can put money yourself. kasi minsan ako pinapabayad ng friends ko ng online purchases eh pero gusto ko bayaran na lang nila ako sa paypal. hindi pala pwede pag walang account sa US.
thanks!
calvin’s last blog post..Thundercats movie trailer
Gem
January 10th, 2009 at 12:19 am #
I see. I had the second option mentioned – by credit card. Gamitin mo ang premium Paypal account to collect credit card payments para mas mababa ang fees at unlimited ang pagcollect ng payments.
Sam
January 10th, 2009 at 12:39 am #
Hi Gem,
Thank you so much for this info. Some bloggers are wasting money for the bank charges.
Happy New Year!
Sam’s last blog post..December Deadly Droppers’
PinoyCopywriter
January 10th, 2009 at 2:34 am #
Whatever fund that I have in my PayPal account, I transfer to my girlfriend’s account and she just withdraws it using her Unionbank Eon card.
It’s a very useful card, very useful for our blogging earnings.
Hehehe…
Have a nice day, Gem! It’s so nice to see you blogging again.
PinoyCopywriter’s last blog post..I’m Gluttonous
Anna
January 10th, 2009 at 7:57 pm #
Hi Gem,
Question kasi this will be my first time to add Unionbank EON to my Paypal, and you suggested to add it as a Bank account is that right? I need your help kasi there are two numbers in the card, the other card number and another number at the lower left portion of the card. Is that the account number? The girl from Unionbank ATC Branch didn’t explain to me. Thanks in advance. By the way, your post is very informative.
[Blocked by CFC] Gem
January 10th, 2009 at 10:07 pm #
Hey Anna! The account number is the 12-digit number located below the account name. The card number is the 16-digit number prominently displayed at the center of the card. Thanks for asking.
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January 10th, 2009 at 10:42 pm #
Which Option for Withdrawing Funds from Paypal Should I Use?…
Many Filipinos who get their earnings from Paypal online are not aware that they can save more from their Paypal earnings. This is a frequently asked question by those who are new to receiving earnings from Paypal. It can also present an option to save…
MariTes
January 11th, 2009 at 1:25 pm #
this is a good post..andami kong nalaman
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bloggista
January 11th, 2009 at 5:06 pm #
Yes, you can put funds in your Paypal account using your credit card. Also, get a premier or better, business account as there is no fee when you transfer funds to other paypal accounts.
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Anna
January 11th, 2009 at 9:28 pm #
Thanks Gem!
Eric
January 12th, 2009 at 12:05 pm #
you can withdraw from almost any bank for PhP7,000 up without any charges.
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Dexter | Techathand.net
January 12th, 2009 at 6:35 pm #
I am using Credit card since that is the only option I have
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jeniffer
January 13th, 2009 at 11:34 am #
up to now wala pa ako na wiwithdraw sa paypal.. simply wala akong kita.. sana nga.. mag earn na ako.. haikz..
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zplits
January 13th, 2009 at 4:47 pm #
Hi there, is it possible to use BPO?
Mira
January 16th, 2009 at 12:03 pm #
This is interesting, I always wonder how bloggers from the Philippines are being paid. I used to withdraw by check and then I opened a separate bank account for paid blogging purposes.
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Angela
January 19th, 2009 at 4:20 pm #
Hi Gem, thanks for the informative posts. I am about to try the paypal-Unionbank duo instead of using my payoneer card (wanna say goodbye to all the charges!)
Question ko is I read sa site ng unionbank na $500 ung limit for each paypal transaction. What should I do if I need to withdraw over $500? say $2000? Is it possible to break it down to 4 x $500 then sabay sabay i-cash out sa bank? Just applied for my EON card today and will get it next week.
Thanks in advance!
Gem
January 20th, 2009 at 3:20 am #
Hi Angela,
If you have to withdraw more than $500 then you need to upgrade your account to a premium (or business) Paypal account. Or just withdraw $500 daily (I’m not sure if that’s possible). You can just pool the funds at your Unionbank account together and make a big withdrawal.
Yun lang, if you had upgraded your account to premium, there some fee that’s taken away from those amounts that you receive.
luis
January 22nd, 2009 at 4:06 pm #
Wow, I didn’t know that withdrawing to bank account is faster and cheaper than withdrawing to my debit card (until now). Thanks for the tip!
luis´s last blog post..Do You Like My Blog’s Theme? I’m Willing to Give It Away!
Gem
January 22nd, 2009 at 5:00 pm #
Hi Luis! You’re welcome!
Angela
January 23rd, 2009 at 12:06 pm #
thanks Gem! I hope that withdrawing daily idea would work, ayoko namang magupgrade to premium account.
more power to your blog!
Gem
January 23rd, 2009 at 12:19 pm #
I hope it will. Daily naman eh. Let me know if that worked out for you. Thanks.
berryblitz
February 3rd, 2009 at 11:25 am #
hindi ko alam na puedeng withdraw to bank account ang eon!!!! kainis!!! kc yung eon, nde sya puedeng magka passbook, card lang talaga sya. so i thought na card lang talaga.
maybe i would withdraw my funds on my China Bank account hehehe try ko =)
thanks for this info. dami ko natututunan syo
berryblitz´s last blog post..Does "Shy Type", "Liar", "Hurting other child’s feelings" combine?
Gem
February 3rd, 2009 at 1:53 pm #
Try mo, pero di ko alam kung may incoming charges ito. It is a good idea to ask how much incoming EFT charges cost.
Nelly
February 11th, 2009 at 3:15 pm #
Hi Gem.Thanks to your blog.I will appreciate it if you can tell me briefly the procedure in withdrawing funds from my paypal account.I will get my Eon card tomorrow.
Mosh
June 22nd, 2009 at 1:29 pm #
Thank you for this very helpful post. Now I choose the withdraw to bank account method because it is cheaper than paying the 5$ card method. Btw, the unionbank website has updated their paypal guide and they included the withdraw to bank account method.
Kudos to you.
Adrion
July 1st, 2009 at 11:05 pm #
Thanks Gem, this is very informative especially for newbies like me in Paypal. By the way, I have a business account in paypal, I was wondering where I can find the complete listing of Bank Codes na pede ko gamitin to link my local bank account to paypal. I’ve tried calling BDO, BPI and Metrobank, wala sila mabigay na bank code because they don’t know it daw and worst of all hindi pa dw nila naririnig ung papay? ridiculous… anyway, hope you can give the the bank code for BDO, BPI, Metrobank or Union Bank. I badly need it kasi sa small business namin.
Thanks in Advance,
Adrion
Gem
July 19th, 2009 at 11:20 pm #
Yes, you are not alone. Only Unionbank knows about Paypal as of this time. Anyway, the most reliable list of bank codes is on Ebay’s (Paypal’s sister) site:
Paypal Bank Codes of Major Banks in the Philippines
veronica
July 23rd, 2009 at 6:00 pm #
hi blanne! i think you mean withdrawal from paypal to card is the one that would cost you $5, right? ‘coz withdrawal from paypal to bank is free (if > 7,000php).
.-= veronica´s last blog ..Extra Income from PickJack =-.
veronica
July 23rd, 2009 at 6:13 pm #
hi ms. gem! thank you so much for this blog post. ang dami ko talagang na learn sayo! dito ko lang na learn ito! thank God i stumbled upon your site!!
i guess i placed my comment on the wrong blog post. gusto ko lang kasi mag ask if i can still withdraw my paypal balances to my savings account in unionbank even if i didn’t use the eon card to activate my paypal.
and thank you so much for posting the link of bank codes on e-bay! i’ve been looking for this for 112 years! lol. and just like what adrion said, even bank employees of BDO, BPI don’t even know about paypal.
again, i’m so glad to have stumpled upon your site. i’m now subscribing to your rss feeds
Godspeed in all your endeavors!! ~xo
.-= veronica´s last blog ..Extra Income from PickJack =-.
monogbread
August 1st, 2009 at 3:02 am #
@veronica I think you can, but you really have to be a paypal verified. Kahit hindi eon basta verified ka using any other credit/debit card. Eon happends to be a debit card w/ VISA powers
And learn to harness the power of search engines, bank codes for paypal are almost everywhere.
I got
instant withdrawal from paypal in just 1 day!, same methods w/ the article but I got mine in just one day
Nagulat talaga ako, instant na instant. I withdrew Sunday night, and saw the funds Monday night.
Ace Georizon
August 25th, 2009 at 9:17 pm #
Actually both methods – Withdraw to Bank and Withdraw to Card have their own advantages and disadvantages.
If you are withdrawing less than US$400, you should use the Withdraw to Bank as it’s much advantageous. And if you are withdrawing US$400 or more, use the Withdraw to Card option.
How come? If you notice, Paypal’s exchange rate is way to low for the current day’s Forex in the Phillippines. As of this posting, Paypal’s conversion rate is Php47.2922 while the Forex from Unionbank as of posting is Php47.95.
Now if you withdraw, say US$350 using Withdraw to Bank, the amount is first converted to Peso which is Php16,552.27 (based on Paypal’s Php47.2922), and since it’s more than Php7,000.00 there’s no Php50.00 fee.
The same amount US$350.00 when using Withdraw to Card, the amount is charged with US$5.00 fee leaving you US$345.00. The amount is transferred to your EON Visa Card as US$345.00. Now, based on the day’s Forex rate of Php47.95, you should get the amount of Php16,542.75
However, if you withdraw US$400 using the Withdraw to Bank you’ll get Php18,916.88 in 2 to 4 business days later. And if you use Withdraw to Card, you’ll get Php18,940.25 in 5 to 7 days later.
And if you withdraw US$500 using Withdraw to Bank, you’ll get Php23,646.10 in 2 to 4 days later. And if using withdraw to Card, you’ll get Php23,735.25 in 5 to 7 days later.
The issue now would be that if you are patient enough to wait for 5 to 7 days for an extra squeeze of your money when withdrawing US$400 or more.
Gem
September 23rd, 2009 at 6:31 pm #
Tagal na ito, I missed this comment. Anyway, @monogbread answered your question below. My answer to your question – you don’t need EON card to verify your paypal account (I guess verified na ang Paypal mo at this time).
Gem
September 23rd, 2009 at 6:33 pm #
Cool. I’ve been also hearing other Paypal users getting their accounts faster than before (another case I’ve encountered is also an instant withdrawal to BPI accounts).
I always get my funds in two business days. Sometimes a day and a half. Using the same method as you had illustrated in your post: “withdraw to bank”.
Gem
September 23rd, 2009 at 6:54 pm #
Thank you for sharing your experience. Personally, with your analysis, I still want to go for the “withdraw to bank” option, unless there’s really a huge difference (say, a thousand pesos).
veronica
September 24th, 2009 at 10:55 am #
@monogbread! hi! yupz! that’s exactly what i did. otherwise, i wouldn’t have found gem’s link, right?
i thought at first that the banks already know about the codes (which i really think that they should), and since i pass by the malls all the time i figured i should just personally ask the banks about the codes. apparently not one of the tellers/staff knows about it. thankfully, i found gem’s site 
kudos to gem!!!
@gem, yes, my paypal has already been verified
after reading your blog and all the other blogs out there about withdrawing from paypal, i realized that the concept was just so simple: open an account in paypal, verify the account using any debit/credit card, then withdraw your balances through bank (or card, depending on one’s choice). i’m just gonna open an account in unionbank once i’m ready to withdraw my funds (until they reach more than P7,000.00 so that there’s no P50.00 charge. good luck to me!, lol!). ~xo
.-= veronica´s last blog ..EARN EXTRA INCOME FROM MYLOT!!! =-.
Gem
September 28th, 2009 at 2:37 pm #
Good luck then. Consider doing a test withdrawal first using a small amount, then if it’s successful then just withdraw the entire thing.
veronica
September 28th, 2009 at 4:36 pm #
Yeah, that would be a good idea. Sige, once I’m ready to withdraw I’ll try your suggestion and then update you guys
.-= veronica´s last blog ..Karansa: Danao Festival 2009 =-.
cora
November 11th, 2009 at 3:32 pm #
is it possible to verify paypal using smart money card?
about eon card, how long does it take from application do we get the card?
thanks for this blog. it’s very informative.
Shiela
November 17th, 2009 at 9:41 am #
meron po akong paypal account at kaka-open ko lang din ng BDO savings account paano ko po ba mai-transfer yung fund ko sa paypal to BDO account. Please help me po kasi andami ko ng research at dami ko ng nabasang blog pero wala akong mahanap na sagot sa tanong ko.Please help me po. Thank you in advance at God bless po!
anyabelle
December 29th, 2009 at 5:25 pm #
Thanks Ate, this was really helpful *speeds off to Unionbank*
Angelie
December 30th, 2009 at 8:57 am #
Hi Gem! Question po, I withdrawed to my BPI bank account last Dec 26 in paypal. The problem is I have entered the 16-digits located in the front of my atm card instead of the 10-digit account number at the back! >_<
What will happen to my money if that's the case? Status of transaction in paypal shows "completed" already. Thanks much!
Angelie
Jhen
January 12th, 2010 at 1:12 pm #
Hi .is this same as BDO CASH CARD
Gem
January 14th, 2010 at 11:20 am #
No, the post is for Paypal to Unionbank transfers. If your card is tied up to a bank account I guess it will work out for you. I’m not familiar with BDO cash cards myself.
tj
October 22nd, 2010 at 4:25 pm #
what is the diff b/w personal and premier paypal account? ano po yung mas maganda sa dalawa?
tnks!!
arlene
November 13th, 2010 at 10:23 pm #
question: kapag ba nasend ung money s paypal pede pa din mabawi ng nag deposit?
arlene
November 13th, 2010 at 10:27 pm #
question po: ano po ung 9 digits ng unionbank para po s add bank s paypal