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More Topics > Articles > Signing Up for a Business Account in Paypal Philippines

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