Question about paypal and alertpay withdrawal

Philippines
June 25, 2010 12:32pm CST
Hi guys! I am a little confuse about how to withdraw the money we earned and deposited to our personal alertpay and paypal account... I know banks have its own branch code... code varies per branch... Is it really necessary to put that? And what's that bank code thing??? Is it different from the bank code we see in our deposit slip- when we do personal deposit over the counter??? I am doing eloading and everytime I deposited money to my load wallet my eload company is asking for the branch code for them to check and trace my deposit... Guys, I am thinking of withdrawing and depositing my earned money to my bank account with Metrobank or Philippine National Bank (PNB). Anyone please help... I don't want to make some mistakes here... I am really confuse and its my first time actually... No idea! Your help will be greatly appreciated!!! Thank you so much!!!
1 person likes this
3 responses
noslenandval
@noslenandval (50)
• Philippines
26 Jun 10
hi lovelyn, I'm not really sure if you'll need the bank code but I know a friend of mine who withdraws money from her paypal account thru her local bank account. regarding PNB, it takes forever to get your money deposited there from paypal. I think between the two, it is faster thru metrobank. If you always get money thru paypal, I suggest you open a debit card thru Unionbank (Unionbank EON debit card). It is the fastest way to withdraw money from your paypal account. You can even use it to verify your paypal account. To get EON debit card, you simply need to go to the nearest unionbank in your area with your valid ID and pay 350 pesos for the card annual fee. getting your EON card usually takes around 2 weeks. the good thing is that you can withdraw your funds from paypal thru the EON card within just 3-4 business days and you can withdraw your money thru any ATM machine in the Philippines with a small fee.
lovelyn_medrano
@lovelyn_medrano (3070)
• Philippines
27 Jun 10
"PNB, it takes forever to get your money" Really? Did your friend use PNB before??? Actualy my first choice to use with paypal is my PNB account... That is so sad... Is this really proven and tested? Actually I have heard so much about EON card of UNION bank and all are good writeups and feedbacks however, I am a bit lazy to open a new account... That is why I think of using my existing account... I hate to pay annual fees too If PNB is no good then I guess I will use the metrobank instead... But please confirm the info you gave about PNB... Is it really slow??? Thanks and awaiting your response.
lovelyn_medrano
@lovelyn_medrano (3070)
• Philippines
11 Jul 10
Hi noslenandval! I know about that. I know that if its 7000 or more there are no fees from paypal however with bank there is... which they called bank charge.. And that bank charge varies depending on the banks to be deposited by paypal... With eon is it the same? or you are getting the same amount with out any charges from eon union bank since you are being charged already with their annual fee... ??? Like for example, you requested and withdraw 7000 to your paypal, would you get the same 7000 to your eon? no bank charge? I want to know how eon works with deposited money from paypal. Cause if they dont charge any fee aside from the annual 350.00 then I think I would get EON already cause it is cheaper than paying bank charges everytime I withdraw my money from paypal... (on top of the paypal fee)
noslenandval
@noslenandval (50)
• Philippines
11 Jul 10
hi, I'm sorry for the late response, been away for sometime. there are no fees to withdraw from paypal to your bank account as long as the amount to be withdrawn is Php7000 or more, any withdrawal lower than Php7000 will be charged Php50.
Hope
@1hopefulman (45120)
• Canada
26 Jun 10
In Canada, they both will send you a check. But I don't know about the Philippines. Also you can go to your bank and you can get all the bank information you need. I have had to do with some other programs so that I could get direct deposit. Bring the application with you and they will even fill it out (at least my bank did that).
lovelyn_medrano
@lovelyn_medrano (3070)
• Philippines
6 Jul 10
Check withrawal... that is one of the choices actually but they do direct bank deposit too so I preferred it more. I just like to know those bank charges for now before proceeding. Thanks for responding 1hopefulman!
meemingNEW
@meemingNEW (2226)
• Philippines
25 Jun 10
When it comes to international transactions, a bank only provides 1 bank code. Or called International Bank Account Number - an international standard for bank identification globally. I think the bank code for Metropolitan Bank & Trust Co. is 010269996 but it's better than you call the bank and verify it again to make sure its the right one. Since your funds are ready for withdrawal,then I guess your paypal and alertpay accounts have already been verified as well, am I correct? I suggest you use metrobank rather than pnb because I'm not really sure if you can link your pnb account with paypal(?) You'll just have to wait for at least a week to receive your payment after requesting for a withdrawal. I have found a step-by-step process to how you can withdraw paypal to your metrobank account. Please check the link. It has print screens of the transaction. Best of luck to you. Hope this helps. http://www.arkhilario.com/2009/05/02/how-to-withdraw-funds-from-paypal-to-metrobank/
lovelyn_medrano
@lovelyn_medrano (3070)
• Philippines
27 Jun 10
Hi meemingNew! Thank you for the information. I have checked the blog of arkhilario... Yes my account is already verified. I have used my credit card to verify it. The code you gave for metrobank is the same as what kent (one of the respondents) have given... Nice blog too. Thank you for sharing. You are really a great help!