1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

PH members, paypal withdrawl question???

Discussion in 'Business & Tax Advice' started by incomesurfer, Jun 5, 2015.

Tags:
  1. incomesurfer

    incomesurfer Power Member

    Joined:
    Jan 7, 2013
    Messages:
    643
    Likes Received:
    83
    Location:
    Online
    hello guys, I just wanted to ask if I can withdraw my paypal earnings on a saving account (bpi, bpo, rcbc). Will the amt automatically be converted into pesos???. Tnx guys
     
  2. infoasian

    infoasian Supreme Member

    Joined:
    May 12, 2011
    Messages:
    1,374
    Likes Received:
    428
    Occupation:
    retired
    Location:
    Singapore
    You can always open a US$ account with your local bank and keep your balance in USD. You may also open a bank account in the USA and transfer your funds to the US bank account (if you ever travel to the US that is) from Paypal. Other that I guess another Pinoy will be able to help you here on BHW.
     
  3. discmartin

    discmartin Registered Member

    Joined:
    Sep 29, 2013
    Messages:
    70
    Likes Received:
    24
    Yes it will be converted to peso. You will need you bank's swiftcode too if you are going to register your bank account to paypal.
     
  4. XoC--

    XoC-- Jr. VIP Jr. VIP

    Joined:
    Mar 5, 2009
    Messages:
    211
    Likes Received:
    115
    I have an account with Metrobank and the funds get converted automatically to Peso, should be the same for all the banks here.
     
  5. Guyabano

    Guyabano Junior Member

    Joined:
    Jun 20, 2014
    Messages:
    113
    Likes Received:
    39
    The bank's swiftcode is not the same as the paypal bank code you need to submit with the account number

    Simply google the paypal bank codes for the Phil's

    Instead of hoping that your bank will convert the money into peso you are better off converting it with paypal. Sure, you may get a point less on paypals conversion rate but who is to say how much your bank will shave off.

    And maybe some of you don't know yet buy OTC payments to pay your ebay fees via BDO are no more. Only way to pay your fees on a .ph account is by CC now.