PayPal - Now Indonesia and Phillipine Can Withdraw To Local Bank Account
You read it right! PayPal has added a new withdrawal feature for its Philippine and Indonesian members, allowing them to conveniently withdraw funds from their PayPal accounts to their local bank accounts.
Here are the two requirements:
- You must be a verified PayPal member.
- You need to add a local bank account into your PayPal account.
Important: Please note your first name and surname on your PayPal account must match the name on your bank account. If it does not, your withdrawal request may be rejected by your bank.
More detail information is available in PayPal official page here.
Update:
- 1/30/2008
I just called 2 of the Indonesian major banks that I have accounts with, and asked for their 7-digit bank code that’s required by PayPal to identify the local bank where to withdraw to. Here comes the problem:
- BCA (Bank Central Asia) only uses 3 digits for their bank code. When I asked for 7-digit bank code the customer service reps said BCA only uses 3-digit bank code. So I persisted to ask for 7 digit code and said it’s require to transfer from PayPal. Then the customer service reps said BCA doesn’t have any partnership with PayPal so such transfer can’t be done.
- Bank Mandiri only uses 5 digits for their bank code. When I asked for 7-digit code to transfer from PayPal, the customer service reps didn’t know what PayPal is and there’s no such 7-digit bank code.
Hence don’t put your hope high yet. Such transfer from PayPal to local Indonesian banks can’t be done yet as the local banks don’t have the PayPal’ required 7-digit bank code.
- 1/31/2007
I finally found the 7-digit code for BCA. Here’s how to find it:
- Don’t call Halo BCA or the local branch directly. It’s useless as the customer service officers haven’t been trained yet and they don’t know how to answer this.
- The code for BCA is 014.
- Find the code for the local branch code here. It’s a 4-digit code.
- The BCA 7-digit code that PayPal required is 014 + the 4-digit code from step 3.
Now that you have this code, you can add BCA to your PayPal account.
Comment by Yoga on 31 January 2008:
Dear Aldian,
Nice info, coz I just received the same email regarding this matter from paypal on 29 Jan. And I have no clue about the BCA code.
Just want to ask you one thing, since I’ve registered as a business account in Paypal - do you think that I should provide them a company bank account or my personal account?
Hope above is fine and once again thanks for your info.
Regards,
-Yoga-
Comment by Aldian on 31 January 2008:
Halo Yoga,
From this requirement, I believe the sender’s name (from your PayPal account) and the receiver’s name (to your local bank account) must be the same in order to be able to transfer the money.
I suggest that you should contact PayPal to make sure.
Comment by kurniawan on 31 January 2008:
nice tips, now i can withdraw my money from paypal. Thank you!
Comment by sinaryuda on 3 February 2008:
Hi all…
how with other code bank in indonesia, please check my blog i have list of clearing code = code bank on paypal
Comment by David Deangelo on 8 February 2008:
Awesome, i can now send money to my VA in the Phillipines, so he can withdraw to his bank account.
Comment by TotalTravel on 12 February 2008:
Wow! it must be a good news for Indonesia online business!
Comment by Ear Plugs on 13 February 2008:
yes this is really great news as people staying in those countries can easily get their money within 5-6 days. otherwise task is very tedious to get money by check.
Comment by Plumbing Course Andy on 19 February 2008:
I’m sure lot of people are happy not that they can withdraw from Paypal to local local banks.
Comment by Stefan on 6 March 2008:
The easies to find Indonesia bank code: http://sinaryuda.web.id/index.php/2008/02/03/bank-code-indonesia-paypal/
Hope it help…
Comment by portal de noticias opiniaoweb on 7 March 2008:
do you know if there is paypal withdraw to a local bank account at Brazil?
Comment by Aldian on 7 March 2008:
I don’t know. Why don’t you check it at PayPal website?
Comment by Abi Bakar on 11 March 2008:
this is exactly the infor that i search for…i’d been wondering on how to withdraw my cash on paypal without using a credit card. since credit card wont give us a chance to withdraw our money, except loaning them to us. well said…and thanks again!
Comment by Calvin Michel Sidjaja on 31 March 2008:
unfortunately, I don’t have account at niaga bank, what will happen if I use my relative’s card numbers instead?
Comment by baba on 6 June 2008:
hi there, interesting post but i hardly find the link you provided is eligible.
i still can’t get the answer of BCA KCP Tandes-Surabaya bank code from the site.
able to help out?
many thanx b4
best regard,
baba
Comment by aer on 26 June 2008:
i have an bca account with acc.num: 77704xxxxx
my first-4 acc.number are same with my local branch bank code…
so, do i have to fill in my paypal acc..like this:
Country:Indonesia
Bank account holder’s name:xxxxx
Bank name:BCA
Bank code:0147770
Account number:77704xxxxx
or like this:
Country:Indonesia
Bank account holder’s name:xxxxx
Bank name:BCA
Bank code:0147770
Account number:4xxxxx (i remove the first-4 number)
thanks
Comment by atana on 1 July 2008:
Mas Aldian Prakoso, saya baru belajar menulis blog dan baru memulai ikut sponsoredreviews. Saya numpang paypal sama teman. Untuk buat paypal sendiri saya udah coba, tapi mereka minta kartu kredit, nah itu saya gak punya. Saya cuma punya rekening BCA. Terus terang saya benar-benar belum mengerti bagaimana caranya saya mempunyai paypal tanpa kartu kredit tapi hanya menggunakan BCA. Apa bisa ya mas? Maaf mas…. saya benar-benar orang baru nih. Makasih sebelumnya ya.
Comment by IMBlogger on 17 July 2008:
I’ve been using it from a while now. It’s a great feature and I am lovin’ it. Never had any issues yet.