How to verify your PayPal account and withdraw funds with PayMaya
Oct 27, 2016 9:00:00 AM
Need help setting up your PayPal account with PayMaya? Learn how to create an account from scratch and how to withdraw your funds to PayMaya.
STEP BY STEP: Creating a PayPal account and linking it to PayMaya
1. Visit PayPal’s page for freelancers here. Click on the “Sign Up” button.
2. Get started with “Receive payments with PayPal”.
3. Enter your email address and set up your PayPal account with your account details
4. You can then receive money in your PayPal account (minimum PHP 500)
5. Link your PayMaya Card to PayPal
- Login to PayPal and go to Balance
- From the dropdown, click “Add a Card”
- Fill up the form with the EXACT ADDRESS you have provided in your PayMaya Virtual Account when activating
Once “Add Card” is clicked, a $1 authentication fee will be charged (this amount will be reimbursed back to you)
You will have then successfully added your PayMaya card.
Fill up the Billing Address form with the exact address you entered in your PayMaya Account, otherwise you’ll get the following error message.
“The bank that issued your card didn’t approve this transaction. Please contact the card issuer’s customer service department if you have any questions. Or you can add a different card now to continue.”
5. Make sure you’ve loaded up your PayMaya account with at least P100. To verify your account, PayPal will charge an authorization fee of $1 (similar to other merchants when you link your card).
How to transfer funds from PayPal to PayMaya
Now that you’ve linked your PayMaya to your PayPal account, you can now transfer funds from PayPal to PayMaya.
1. To withdraw funds, click “Transfer money”. The minimum withdrawal from your PayPal account is P500.
2. Withdraw from your PayPal balance account to your linked PayMaya card account
3. You’ll receive your funds within 2-4 business days. A withdrawal fee of PHP 250 will be charged. Luckily, PayMaya accounts get 80% off and save P200 when you transfer your PayPal funds to your PayMaya until December 21, 2016. Read more about the promo with PayPal here.
There’s no need to have a bank account to withdraw your PayPal funds. Once the money has been credited to your PayMaya account, you can use your funds to shop online, book an Uber, pay bills, or dine in stores if you have the physical PayMaya card.