Click Withdraw Funds to your Bank Account.  For amounts more than P7,000 Paypal will not charge you a single penny.  They will charge you P50 though for withdrawals less than P7k.  BPI, on the other hand, will charge P150 regardless of the amount you withdraw.  I know Unionbank’s Eon charges cheaper but hey, I found BPI’s charge okay since I don’t have my Eon yet.

First, you have to add your BPI Bank account information – Name on your Bank Account, Bank Name (in this case, Bank of the Philippine Islands), Bank code (the bank code for BPI is 010040018), and then you BPI Bank Account Number.  Note that the name on your Paypal account must exactly match the name on your BPI Account.  If it does not match then the transaction would not go through and you will be charged a return fee of P250.  So check your bank account and make the necessary changes in your Paypal if it does not match.

Next, review your bank account information and click on Add Bank Account.

You can now withdraw your money. Specify the amount you wish to withdraw and click Continue.  Waiting time is 2 to 4 business days.  I was expecting it to take four days but it only took two days for my withdrawal to reflect in my BPI account.  I was so happy because I can buy the Kipling bag my hubby wanted.  All I have to do was withdraw the money in my ATM account afterwards.

You can also withdraw your Paypal money to other bank accounts just input the correct bank codes.  Just look for the bank code in the list below and you’re good to go.