I initially thought that only Unionbank and BDO could be linked to PayPal. I was wrong.
I set up my PayPal account back in 2009 and had it verified by opening an EON account at Unionbank (took me several business days to complete all that). I’ve always used EON to withdraw funds from my PayPal. When I stopped blogging due to busy schedules, I also closed my EON account but it remained tied up to my PayPal account.
Lately I started working online again and since my EON card is not active anymore, I had to update my bank information on PayPal by adding an active bank account. Though PayPal is a user-friendly platform, I had doubts if my BPI Express Teller account would actually work with PayPal.
Turns out, BPI Express Teller indeed works well with PayPal!
For the benefit of those who are yet to go on the same route, here’s your guide in adding your BPI Express Teller account to your PayPal.
1. Log in to your PayPal account.
2. Go to “Profile” and from the dropdown menu, select “Add/Edit Bank Account.”
3. Click “Add” and fill in all the fields carefully. (Important: The name on your bank account must match the name on your PayPal account. Otherwise, it might be rejected and there would be a return fee of P250.)
- Bank Name: Bank of the Philippine Islands
- Bank Code (9 digits): 010040018
- Account Number: (Found at the back of your BPI Express Teller card)
- Re-enter Account Number:
4. Click Continue and you’re done!
If you have a dormant account linked to your PayPal, you better delete it before you mistakenly transfer money there instead of your active bank account. It happened to me when I carelessly transferred $400 to my dormant EON account instead of my active BPI account. Fortunately, the money bounced back to my PayPal after more than week. P250 was charged for the bounced transaction but it was way better than losing $400.
For a step-by-step guide on how to transfer money from PayPal to your bank account, check out my other post here: Withdrawing funds from your PayPal to your bank account.
I hope this helps. Happy blogging and earning online!