By coming here I'm sure you're having difficult times of sending your Paypal funds to your Philippine Bank account or even transferring funds from Paypal to Gcash if ever you have a Gcash account.
Easy to say, you can transfer your funds from Paypal to Paymaya after the partnership between the two companies.
As an online freelancer, having Paymaya and Paypal account is a very convenient way to accept payments and shop online.
To get started, well, of course, we will need both Paypal and Paymaya account first. If you still don't have an account please go download the Paymaya app in Playstore or in the App Store for iPhone users and comply all the requirements on their signup page, note that personal information such as valid ID will be asked for verification purposes. For Paypal go to their website's sign up page.
After you made an account and get verified for both Paypal and Paymaya, now, it's time to rock!
First, we need to link our Paymaya account to Paypal account
Simply, Go to your PayPal account and click the Wallet tab
And choose "Link a credit card"
Why credit card? Because at some point, it's a card, your Paymaya card, in my experience, since I don't have its physical card yet I only use its virtual card. You can see it on your Paymaya account under the "View Card" page.
We're going to copy all the details from the card number, expiration date, CVV2 number and your address linked to the card. Make sure that your address on the card is the same on your Paypal account, else there will be an error linking your card to your Paypal account.
At the Link a card page, you will see the required details above. After filling all the necessary data, your Paymaya account will be deducted for Php 53.84 which can be changed depends on the conversion rate of USD to Php. Just make sure your Paymaya have at least Php 100 balance. After confirmation, you will receive an SMS should look like below.
Once your account is checked and verified by Paypal, you will receive an SMS for the refund of the funds used for verification earlier, same like the one below.
And, yes, we successfully linked your Paymaya account to your Paypal account, easy, right?
At this time, its time to transfer your Paypal funds to your Paymaya account.
How to send Paypal funds to your Paymaya account?
- Login to your Paypal account and find the "Transfer Funds" button.
- Choose the Visa Card of Paymaya virtual card we added earlier.
- After clicking the "Next" button, we will input the amount we're going to send your Paypal balance to the Paymaya account using the virtual visa card we added. Note that the minimum amount to send is $5.01 or 254.81 in Philippine Peso.
- In my case, I tried to send $5.20 and estimated conversion in Philippine Peso is 264.81 and the withdrawal fee is Php 50.00, so I will get Php 214.81 deducted the fee of Php 50.00. But as far as I know, there's no withdrawal fee when sending funds minimum of Php 700.00
- Lastly, yes, we just transferred our Paypal balance to our Paymaya account successfully!
- To confirm that you received the funds, log in to your Paymaya account and you will see a new transaction on your history, same like the image below. Trust me, I received the funds eventually like just seconds after I hit the transfer button.
Here you go, we're done, and we easily transfer your Paypal balance to Paymaya account with a fee of Php 50.00 for a every transaction with amount below Php 700.00. You can even use your Paymaya virtual card to buy online using your Paypal account, which means you don't need to put your card details to any website, you just have to use your Paypal for best security practice.
Featured image via Paypal