Comments on: Are Paypal bank codes really important? http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/ Make Money Online, Google Adsense, SEO, Stocks, Forex, Mutual Funds Philippines Fri, 18 Jul 2008 18:08:42 +0000 http://wordpress.org/?v=2.5.1 By: James | PinoyMoneyTalk.com http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-18735 James | PinoyMoneyTalk.com Sat, 09 Feb 2008 17:51:01 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-18735 Hi IskualL, still it would have been better if Paypal launched the new direct withdraw feature with an announcement of the bank codes. It took them almost a week to announce what bank codes really are, their Help page did not even include what a "Bank Code" means and where to get those numbers. It's just a marketing thing. Paypal raised their members' hopes by offering the new feature but disappointed a lot during the first few days because the members were scrambling to find out what the "Bank Code" is in order to make a withdrawal request. Hi IskualL, still it would have been better if Paypal launched the new direct withdraw feature with an announcement of the bank codes. It took them almost a week to announce what bank codes really are, their Help page did not even include what a “Bank Code” means and where to get those numbers. It’s just a marketing thing. Paypal raised their members’ hopes by offering the new feature but disappointed a lot during the first few days because the members were scrambling to find out what the “Bank Code” is in order to make a withdrawal request.

]]> By: James | PinoyMoneyTalk.com http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-18734 James | PinoyMoneyTalk.com Sat, 09 Feb 2008 17:47:33 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-18734 Yup, a few PMT members are reporting that their Paypal to EON bank account withdraw requests are processed in just a day. Unfortunately, those who tried withdrawing to their EON debit card are still waiting for almost a month now. Yup, a few PMT members are reporting that their Paypal to EON bank account withdraw requests are processed in just a day. Unfortunately, those who tried withdrawing to their EON debit card are still waiting for almost a month now.

]]> By: James | PinoyMoneyTalk.com http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-18542 James | PinoyMoneyTalk.com Sat, 09 Feb 2008 06:26:20 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-18542 What do you mean "Bank Codes," Chris? I think you meant UnionBank's EON debit card or bank account. As of now, withdrawals to EON bank account is faster than withdrawals to EON debit card. Which one is cheaper, however, is the current subject of the discussion in the comments section of <a href="http://www.pinoymoneytalk.com/2008/01/26/paypal-withdraw-philippine-banks/" rel="nofollow">Withdraw Paypal to bank accounts in Philippines</a> What do you mean “Bank Codes,” Chris? I think you meant UnionBank’s EON debit card or bank account. As of now, withdrawals to EON bank account is faster than withdrawals to EON debit card. Which one is cheaper, however, is the current subject of the discussion in the comments section of Withdraw Paypal to bank accounts in Philippines

]]> By: James | PinoyMoneyTalk.com http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-18540 James | PinoyMoneyTalk.com Sat, 09 Feb 2008 06:20:15 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-18540 Congrats, Marhgil! May P200 charge nga ang BDO, sa UnionBank, libre. Congrats, Marhgil! May P200 charge nga ang BDO, sa UnionBank, libre.

]]> By: marhgil http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-18132 marhgil Fri, 08 Feb 2008 03:09:43 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-18132 i successfully withdraw my Paypal funds to my BDO account. may charge din na 200 pesos. <a href="http://www.macuha.com/2008/02/money-talk/successful-paypal-withdrawal-to-banco-de-oro/" rel="nofollow">here's my story</a>, share ko lang. i successfully withdraw my Paypal funds to my BDO account. may charge din na 200 pesos. here’s my story, share ko lang.

]]> By: Chris A ng CMAQUEST http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17966 Chris A ng CMAQUEST Thu, 07 Feb 2008 12:21:22 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17966 I have availed an Eon card... haven't withdrawn anything, but I am curious if what is more reliable and efficient, Union Bank's Eon Card or the Bank Codes? I have availed an Eon card… haven’t withdrawn anything, but I am curious if what is more reliable and efficient, Union Bank’s Eon Card or the Bank Codes?

]]> By: noemi http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17591 noemi Wed, 06 Feb 2008 13:50:07 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17591 it might have been less than 4 days. I just noticed it on the 4th day. Another blogger I saw in twitter mentioned he got his funds in 1 day at Union Bank.Ca it might have been less than 4 days. I just noticed it on the 4th day. Another blogger I saw in twitter mentioned he got his funds in 1 day at Union Bank.Ca

]]> By: rj http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17585 rj Wed, 06 Feb 2008 12:56:21 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17585 to anyone who has used the bank codes which were not the official ones, the transfer was processed because whatever number was given by your bank would either be the ABA number( bank code where they maintain their nostro account) or the BRSTN of the china bank branch. As per observation, the bank codes provided by paypal are actually the BRSTN(branch routing symbol transit number) of the banks' main branch. So the probability is , for as long as you are able to provide the correct bank code or rather if and when you are able to provide a VALID bank code(valid meaning it is actually in use and existing) then the withdrawal may be processed. i do agree that pay pal may not have coordinated with the local banks with regards the transfer of funds, which may be the reason why your inquiries are not answered correctly. to anyone who has used the bank codes which were not the official ones, the transfer was processed because whatever number was given by your bank would either be the ABA number( bank code where they maintain their nostro account) or the BRSTN of the china bank branch. As per observation, the bank codes provided by paypal are actually the BRSTN(branch routing symbol transit number) of the banks’ main branch. So the probability is , for as long as you are able to provide the correct bank code or rather if and when you are able to provide a VALID bank code(valid meaning it is actually in use and existing) then the withdrawal may be processed.

i do agree that pay pal may not have coordinated with the local banks with regards the transfer of funds, which may be the reason why your inquiries are not answered correctly.

]]> By: IskualL http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17561 IskualL Wed, 06 Feb 2008 10:25:07 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17561 Well, thanks for the info. IMHO and in fairness to Paypal(+ programmer point of view), the paypal bank codes could be their local codings for each bank. That way they can easily trace which bank corresponds to your local bank accounts. It is also possible not to input the correct bank code(paypal provided) but i believe it will take them more time to locate your bank account compare to having filled up the necessary code that they have provided. I really think that the code is merely for their local automation process and doesn't necessary have to be given to each and every local bank. The banks international coding should be for their secure use which makes us user more secured too. Look how we use paypal, only by providing our e-mail rather than divulging credit card info, we're able to transact business with ease and security. It is just the same paypal can secure your banks info and provide us with code that refer to it. As per info from the mail i received from paypal, if you withdraw php7k and up from paypal there is no charge, while withdrawing less than that will have a php50.00 charge. However there are local charges from phils bank so dependent na rin sa ating mga banko o kung ano ang banko mo. Your lucky if your bank doesn't charge you for that transaction. just my dos centavos. Well, thanks for the info. IMHO and in fairness to Paypal(+ programmer point of view), the paypal bank codes could be their local codings for each bank. That way they can easily trace which bank corresponds to your local bank accounts. It is also possible not to input the correct bank code(paypal provided) but i believe it will take them more time to locate your bank account compare to having filled up the necessary code that they have provided. I really think that the code is merely for their local automation process and doesn’t necessary have to be given to each and every local bank. The banks international coding should be for their secure use which makes us user more secured too. Look how we use paypal, only by providing our e-mail rather than divulging credit card info, we’re able to transact business with ease and security. It is just the same paypal can secure your banks info and provide us with code that refer to it.
As per info from the mail i received from paypal, if you withdraw php7k and up from paypal there is no charge, while withdrawing less than that will have a php50.00 charge. However there are local charges from phils bank so dependent na rin sa ating mga banko o kung ano ang banko mo. Your lucky if your bank doesn’t charge you for that transaction.
just my dos centavos.

]]> By: James | PinoyMoneyTalk.com http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17395 James | PinoyMoneyTalk.com Wed, 06 Feb 2008 01:30:39 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17395 Thanks for sharing, Marhgil! Thanks for sharing, Marhgil!

]]> By: James | PinoyMoneyTalk.com http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17394 James | PinoyMoneyTalk.com Wed, 06 Feb 2008 01:29:58 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17394 Good choice, Laarni. If you don't want to take any risk, better hear the experiences of other users first. So far, though, withdrawal to EON bank account seems to be the fastest and cheapest. Good choice, Laarni. If you don’t want to take any risk, better hear the experiences of other users first. So far, though, withdrawal to EON bank account seems to be the fastest and cheapest.

]]> By: James | PinoyMoneyTalk.com http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17393 James | PinoyMoneyTalk.com Wed, 06 Feb 2008 01:28:33 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17393 You were charged P200 to withdraw to your Unionbank passbook account, blue2x? Because from what I read in the forum, withdrawals to UnionBank EON accounts (bank account, not debit card) are FREE, as in no charges. You were charged P200 to withdraw to your Unionbank passbook account, blue2x? Because from what I read in the forum, withdrawals to UnionBank EON accounts (bank account, not debit card) are FREE, as in no charges.

]]> By: James | PinoyMoneyTalk.com http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17390 James | PinoyMoneyTalk.com Wed, 06 Feb 2008 01:22:50 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17390 Good to hear that, Noemi. 4 banking days? Not bad. That makes me still wonder though if bank codes really are important or if Paypal and the banks are merely ignoring it and just processing withdrawals. Anyway, thanks for sharing. Good to hear that, Noemi. 4 banking days? Not bad.

That makes me still wonder though if bank codes really are important or if Paypal and the banks are merely ignoring it and just processing withdrawals.

Anyway, thanks for sharing.

]]> By: noemi http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17284 noemi Tue, 05 Feb 2008 15:03:25 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17284 i used the code the first day you posted. It was NOT the official paypal bank code. I transferred $500 to BPI on January 26. I was able to notice the funds were deposited on thursday, January 31. Pretty quick and I didn't get penalized for 250 pesos. i used the code the first day you posted. It was NOT the official paypal bank code. I transferred $500 to BPI on January 26. I was able to notice the funds were deposited on thursday, January 31. Pretty quick and I didn’t get penalized for 250 pesos.

]]> By: blue2x http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17232 blue2x Tue, 05 Feb 2008 10:01:11 +0000 http://www.pinoymoneytalk.com/2008/02/05/paypal-bank-code-philippines/#comment-17232 I tried withdrawing funds to my unionbank savings account ,using the bankcode found in the site. I checked it today, at na register sa passbook ko, a charge of 200 pesos sa transaction, I only sent 300 usd. I was also wondering, if you send more than 500 usd, lets say 1,000 usd, will the charge also be double? Anyways the service works , and personally its better to send it directly to your bank than EON , ( not sure for amounts more than 500 usd , if they charge extra, then ill go back to EON ) I tried withdrawing funds to my unionbank savings account ,using the bankcode found in the site. I checked it today, at na register sa passbook ko, a charge of 200 pesos sa transaction, I only sent 300 usd. I was also wondering, if you send more than 500 usd, lets say 1,000 usd, will the charge also be double?

Anyways the service works , and personally its better to send it directly to your bank than EON , ( not sure for amounts more than 500 usd , if they charge extra, then ill go back to EON )

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