So, I made a withdrawal transaction from Paypal to my local bank account, Bank of the Philippine Islands through the following processes listed below and Paypal said that the transaction is now completed.
- Log-in to your Paypal account > Profile > Add/Edit Bank Account.
- Enter the Bank Name (in my case, Bank of the Philippine Islands).
- Input the Bank Code (for BPI, it's 010040018).
- Then, go to My Account > Withdraw > Withdraw Funds to Your Account
- You will then enter the amount you wish to withdraw (if you have amounts in different currencies, you'd be asked to choose only one of them per transaction).
- Then, pick which bank account you'd like the money to go to and then you're done. A reference number will be provided, and you will be given an option to return to your Paypal main area.
Now, All you need to do is wait for 2-4 business days for the transaction to be "Completed".
And then, the waiting began. But, there's one problem. At the time I opened my account, I mistook the card number for the account number. The reason I entered the card number for my Paypal account is because its interface stated (1-16 digits) which is the number of digits of my card number. My account number is only 10 digits! And I was naive at that time and forgot to correct it.
What made me panic more was that the Paypal transaction has already been completed. I thought about the things that I should do because in that moment, I was thinking the money won't be returned.
Now, the problem's solved! The solution to this is do not panic. I realized it was going to be returned, and indeed, it was! It took a few more days to be returned, with no deduction from Paypal since I inputted the legit BPI bank details, just not the right one (account number). The money will arrive though with a deduction of 150 Php from BPI, regardless if you made a mistake or not.
So, that's it. Don't panic. It will be returned minus a fee of 150 Php. :)
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