Serenity Of Life


Most people are not aware of the fees PayPal charges so here is a summary of fees. To see a complete list login to your PayPal account and click on list on the bottom menu. Make sure that you are logged in to your account for the link to work.  Here is the list:

*Note: The fees are applicable to bank accounts in the Philippines

For Personal Accounts:

1. Open an account - Free

Send money  - Free

3. Withdraw Funds  -  Free for P7,000.00 PHP or more, P50.00 PHP for  P6,999.99 PHP or less

4. Add funds - Free Receive payments funded by PayPal Balance, PayPal Instant Transfer or PayPal eCheck Free

5. Receive payments funded by Credit Card, Debit Card - 5.4% plus $0.30 USD. No transaction limit for payments sent via Skype, otherwise there is a limit of 5 transactions per year.  5.4% plus $0.30 USD. No transaction limit for payments sent via Skype, otherwise there is a limit of 5 transactions per year
5.4% plus $0.30 USD for card payments received using PayPal on Skype

6. Return Fee - This is the fee if you have entered your bank information incorrectly so please make sure you have all the correct details before attempting to withdraw your money. The amount is P250

7. Multiple currency transactions - Exchange rate includes a 2.5% fee**


A lot of my Filipino friends are having trouble in finding out how funds can be withdrawed from their PayPal account. PayPal is going to ask for the following information: Bank Name, Bank Code, Account Number and the branch. No don't call your bank for the Bank Code because they don't know about it at all. Here is a list of all PayPal Bank Code for the Philippines:

BANK NAME 9 digit bank code

ALLIED BANKING CORP                                     010320013

BANGKO SENTRAL NG PILIPINAS                       010030015

BANCO DE ORO (& EPCIB)                                 010530667

BANK OF COMMERCE                                         010440016

BANK OF THE PHIL ISLANDS                              010040018

CHINA BANKING CORP                                      010100013

CHINA TRUST COMML BANK                               010690015

CITIBANK N.A.                                                   010070017

DEVT BANK OF THE PHILS                                 010590018

DEUTSCHE BANK                                               010650013

EAST WEST BANK                                              010620014

INTL EXCHANGE BANK                                      010680012     

JP MORGAN CHASE BANK                                  010720011

LAND BANK OF THE PHILS                                010350025

MAYBANK OF THE PHILS                                   010220016

METROPOLITAN BANK & TRUST CO                   010269996

PHIL BANK OF COMMUNICATION                      010110016

PHIL TRUST COMPANY                                      010090039

PHIL NATIONAL BANK                                       010080010

PRUDENTIAL BANK                                           010150018

PHIL VETERANS BANK                                      010330016

RIZAL COMML BANKING CORP                         010280014

SECURITY BANK & TRUST CO                           010140015

STANDARD CHARTERED BANK                         010050011

UNITED COCONUT PLANTERS BANK                010299995

UNION BANK OF THE PHILS                             010419995

UNITED OVERSEAS BANK                                 010270189


As of the moment only the EON Card is the only debit card accepted by PayPal for verification. I believe you can also receive you money through this card.  Here are a few pointers about the EON Card

1. Visit any near by Union Bank and open an EON CYBER ACCOUNT. You will be given an application form to fill out. Follow the instructions of the bank people then after two weeks you will receive your EON Card.

2. The annual fee for the EON card is P350. Be sure to bring the amount of P200 for deposit since PayPal will charge for verification.

3.  The EON Card has a temporary 4 digit pin, to activate it, use your card in an ATM machine and change your pin #.

4. Login to click on the EON CYBER ACCOUNT LOGO and enroll your account for online banking.

5. Login to your PayPal account, click on the Unverified link then just follow the instructions in your screen.


To start verifying your account login to PayPal then click on the link that says "Unverified" it will walk you through the steps. It will ask you for all your credit card details.  If your card is accepted it will automatically charge $1 to your account. Don't worry this amount is debited to your PayPal account. It will ask you for a verification code. The verification code should appear in your next credit card bill. As soon as you receive your card, just login again to your PayPal account and type your verification code.


PayPal is an online payment processor used my users, publishers, marketers, employers, etc to pay for goods online or for transacting business online. PayPal is what I use to receive my payments from my online earnings.  PayPal is secure and user-friendly.  You can also receive credit and debit card payments internationally. Your account should be business though for these kind of transaction. If your interested in creating a PayPal account, CLICK HERE to sign up.