Is it possible to withdraw your Paypal funds to Banco De Oro?

@dierdre (2207)
Philippines
February 10, 2013 5:29pm CST
I have a BDO account, and I was wondering if I can withdraw my Paypal funds there? I just got my Paypal verified, so I' exploring all my options in withdrawing it, because I read that you can also withdraw your Paypal funds through Smart Money, and since the withdrawal passes through BDO first before it gets transferred to Smart Money, I was wondering if adding a BDO account is valid so that the money won't be transferred to Smart Money anymore.
1 person likes this
11 responses
@hereandthere (45645)
• Philippines
11 Feb 13
on the right side of the screen you will see a list of similar discussions regarding banco de oro in relation to paypal. you can also type "banco de oro" or "bdo" in mylot's search box. i really like unionbank's eon debit card because there's no charge as long as it's more than 7k per transfer/withdrawal. i think linking to bpi or bdo with its P250 or more charge with each transaction is better for those who seldom withdraw from paypal. i mean P250 is already my lunch, snack and transpo. i was also able to use the unionbank eon debit card to pay for an ultrasound last year when i thought the cash i carried was enough. they swiped it and only the exact amount was deducted, no fee. i know because i passed by a unionbank atm on the way home. it's because of the visa logo that's why. of course, it's great timing i happen to have funds in my eon card because it usually takes 2 days to transfer from paypal to eon.
@dierdre (2207)
• Philippines
11 Feb 13
Well I don't intend to withdraw that often, so I think P250 is reasonable. In EON, correct me if I'm wrong, but they charge you P300 every year right? How long is the EON card valid before you have to renew it again? Anyway, It's nice to know that EON came in handy when you needed cash.
@SIMPLYD (90721)
• Philippines
12 Feb 13
Eon is renewable every year. It debits your account PhP350.00 automatically when your one year is up. If it doesn't have enough fund, whatever is the balance will be deducted automatically from any money that comes into the account again.
• Philippines
11 Feb 13
for those who withdraw once a month, or even every 2 months, then eon is better.
@Raine38 (12391)
• United States
11 Feb 13
You can, but confirm the bank charges for each transfer or withdrawal. The last time I tried this, I got charged for 250 pesos.
@jenny1015 (13366)
• Philippines
11 Feb 13
That's true, Raine. It costs 250 pesos to be able to transfer money from Paypal to our local bank. That is the amount they took when I transferred mine to my BPI account.
• Mexico
11 Feb 13
my money will be sent to my bank that my master card that is verified by paypal
• Philippines
11 Feb 13
I didn't know BDO charges that high for PayPal transfer. This is probably why my sisters don't use BDO to withdraw earnings from PayPal. They do have EON from Unionbank and it seems convenient for them.
@chiyosan (30183)
• Philippines
12 Feb 13
Hallo dierdre! =) Yup. You can do that, but They charge a huge amount (like 200 to 250 pesos) for a transaction. So i would suggest if you would withdraw paypal funds to ANY of your local bank accounts, be sure to just maximize it because paypal already charges 50 per transaction, then another 250 so that is about 300 already per withdrawal. that is really huge, if you ask me...
@dierdre (2207)
• Philippines
14 Feb 13
Yeah I agree, it would be costly if you withdraw thrice or more per year so I should just lessen my withdrawals.
• Philippines
11 Feb 13
Hello Dierdre, I think BDO is fine but I've heard or read that they deduct a lot bigger or less than three dollars. that's kinda huge on my end, my advise is to apply for a CYber Eon Account if you want to avoid more fees being deducted from your earnings every single month. 3$ or 250 pesos is really a big deal. anyways, good luck if you still chooses BDO.have a nice day
@dierdre (2207)
• Philippines
11 Feb 13
$3 is only P120 my friend, I think that they deduct roughly $6 or P250 per transaction. If only Unionbank would have a branch near my place then I would apply for an EON account. I think that to avoid such fees then I'll just have to withdraw once or twice per year.
• Philippines
13 Feb 13
oh sorry for the wrong calculation, i guess you have to save for three months for you withdraw your earnings. reminds me to do the same, even with eon account.
@jenny1015 (13366)
• Philippines
11 Feb 13
I think that would do. Coz in my case, I am using an Eon Account from Union Bank. But I have also linked my BPI account to Paypal and I am able to transfer money from Paypal to BPI.
@dierdre (2207)
• Philippines
11 Feb 13
Does BPI also charge you P250 per transaction?
@jenny1015 (13366)
• Philippines
12 Feb 13
Well, am not sure how much the exact amount it. But most probably it is just about that much.
• Philippines
11 Feb 13
yes you can.but connect that to paypal account first.this will require 2 days if i was not mistaken as what I did in my eon.now to avoid the $3 fee everytime you transfer to your bdo especially if you only withdraw a small amount like me.i Suggest you exchange your money to those who are legit online money exchanger just like my trusted one the 'peso exchanger' I been exchanging money for almost a year now to have less charge than to directly withdraw it in my paypal as it will take 5 banking days before you received it in your bank. while on peso exchanger you will received it in minutes plus less charge.I think they also exchange in BDO too.
@dierdre (2207)
• Philippines
11 Feb 13
I see, can you give me the link to this "peso exchanger" guy? How much does he exchange per $1 Paypal to peso?
@chiyosan (30183)
• Philippines
12 Feb 13
hi there fearless, i think this idea is promising, if the peso exchanger is legit, i think i would want to try it as well. i hope you could share with us how we can contact them, please? i am thinking of having mine exchanged by march payout... thank you in advance. =) Godbless
@delaney36 (817)
• Philippines
11 Feb 13
Yes you can definitely withdraw your paypal funds to your BDO account for a charge fee. I suggest you use eon of Union Bank. Ive been using that for more than five years now and the good thing is the charge is too minimal for withdrawals.
@dierdre (2207)
• Philippines
11 Feb 13
Thanks, will be trying that out when Unionbank opens a branch near my place.
@jazel_juan (15746)
• Philippines
11 Feb 13
Banks charge quite high, i experienced this too that is why i opened an account in Union bank for EON card as the charge is very low..
@chiyosan (30183)
• Philippines
12 Feb 13
Hi there jazel, are you familiar with the charges of eon and their requirements? they do charge some fees right? membership, i think?
@tech40 (23121)
• Philippines
11 Feb 13
I think yes, if you use their BDO atm cards with attached "Master Card" to verified your paypal, it will also help, cos it will direct your funds to your bank, anyway, there is a "Withdraw to Bank" and I Think it works, try to ask paypal, cos after asking Paypal, they're gonna call you up, to answer some of your questions
@dierdre (2207)
• Philippines
11 Feb 13
I tried to verify my Paypal account using my BDO account before, but it was unsuccessful. I don't know why, it's a savings account.
@edvc77 (2140)
• Philippines
11 Feb 13
Thanks for this post. I really want to know too. However, P250 for transferring fee is quite a lot already.
@dierdre (2207)
• Philippines
11 Feb 13
Yeah it is, so the trick is to just lessen your withdrawals to once or twice per year only.
@danix1982 (593)
• Philippines
25 Feb 13
havent tried hope it will goes well..