Are Paypal bank codes really important?
February 5, 2008
When PayPal first launched the withdraw to bank account feature, it did so without coordinating with local banks in the Philippines.
An obvious proof is that banks did not have a clue what a Bank Code is. The Bank Code is a 9-digit number unique to a Philippine bank that Paypal requires before a bank account can be attached to one’s account.
On the first days of the new withdraw feature, banks such as Metrobank and BPI told their clients a bank code which proved to be different from the official Paypal Philippines Bank Codes.
Withdraw PayPal to bank accounts in Philippines
January 26, 2008
Pinoy Money Talk is one of the first, probably the very first, to break this news to the blogosphere but expect other sites and blogs to write about this without giving us credit although they got the news from us. LOL.
Anyway, brace yourself:
Effective yesterday, PayPal started allowing users in the Philippines to withdraw funds to local bank accounts.
Yup, it’s confirmed. Log in to your PayPal account and see that in the My Account > Withdraw page, you now have an option to directly transfer funds from your PayPal account to your bank account in the Philippines.
