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Signing Up for a Business Account in Paypal Philippines
January 25, 2010
Signing Up for a Business Account in Paypal Philippines
1. Go to the Paypal Philippines site: https://www.paypal.com/ph
2. Click the Sign Up link on the left side pane under the Account Login.
3. Select the Get Started Button for Business.
4. Paypal shall now require the initial information of your business to be inputted.
5. After inputting all the needed and required fields, click continue.
6. The next step shall be the inputting the default email for your account as well as the passwords and security questions. Note that whatever email was inputted here will be the general email to receive notices and updates from Paypal.
7. The next step will be the adding of credit/debit cards to be linked on the Paypal Account, which in turn can be used to pay for purchases and receive payments.
Please note that a credit/debit card is needed if your account shall be receiving in payments online. The cards shall be enrolled and verified so the company can withdraw Paypal balances to the card. Credit Cards bearing the Visa and Mastercard Logo are accepted. For a list accepted cards, please refer to the Paypal Philippines Bank List for Withdrawing Paypal Funds.
8. Verification shall be sent to your email to validate your account. Once you have verified your financial information, you will have complete access to all PayPal business options. This usually takes from three to five business days.
9. For a complete reference on the fees applied by Paypal to a Business Account, refer to this link: Click HERE
10. For applying for Paypal accounts other than the Business Type (either Personal or Premiere), you can refer to this link: Click HERE
Note that: All PayPal accounts allow you to send and receive payments.
• Personal accounts are mostly used for buying.
• Premier accounts are used for buying and selling using your personal name.
• Business accounts are for buying and selling using your business or corporate name.
Paypal Philippines Bank List for Withdrawing Paypal Funds
| BANK NAME | Bank Code |
| ALLIED BANKING CORP | 010320013 |
| AUSTRALIA NEW ZEALAND | 010700015 |
| ASIA UNITED BANK | 011020011 |
| BANGKO SENTRAL NG PILIPINAS | 010030015 |
| BANK OF AMERICA | 010120019 |
| 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 |
| EXPORT & INDUSTRY BANK | 010860010 |
| INTL COMML BANK OF CHINA | 010560019 |
| IINTL EXCHANGE BANK | 010680012 |
| JP MORGAN CHASE BANK | 010720011 |
| KOREA EXCHANGE BANK | 010710018 |
| INTL NEDERLAND BANK | 010660016 |
| 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 |
1. Go to My Account
2. Go to Add a Bank Account in Philippines
3. After Adding your Bank Account, proceed to the Withdraw page and enter the amount that you wish to withdraw. 5-7 Working Days effect of transfer on the account
FEES
1. Online Purchases
- Pay – Free
- Get Payment – 2.4% to 3.4% + Php15.00
2. Personal Payments
- 3.4% + Php15.00 for credit card payments. No fee if the Paypal Balance is used.
3. Withdrawal Fees
- Local Philippine Bank Withdrawal
i. Php7,000.00 or more – no charge
ii. Less than Php7,000.00 – Php50.00 charge
iii. Return Fee – Php250.00 charge
