Last Updated on July 15, 2021 by Melody Reyes
If you receive your earnings via PayPal, you can withdraw your money even without a bank account. You can quickly move your money from PayPal to GCash. Here is a quick guide on how you can transfer your PayPal funds to your GCash e-wallet for free.
- What is PayPal
- What is GCash
- How to withdraw your PayPal balance
- Why withdraw PayPal funds using GCash
- How to transfer money from PayPal to GCash
What is PayPal
PayPal is an online payment system that you can use to send money, make online payments, and receive money online. It is used in many countries worldwide. So if you are doing business with an international partner or working for a client overseas, PayPal is an efficient tool you can use to send and receive money.
What is GCash
GCash is a mobile wallet or an electronic wallet (e-wallet) that allows you to perform various cashless transactions. You can send and receive money, make bank transfers, pay bills, shop online, buy load, make cashless payments to retail stores and online marketplaces, and more.
How to withdraw your PayPal balance
If you want to withdraw your PayPal balance, these are some of the options you have:
1. PayPal to bank account
This process allows you to transfer your PayPal balance directly to your bank account. PayPal charges P50 for withdrawals less than P7,000. For P7,000 and up, fees are waived. Your bank may also charge fees for your PayPal transaction. Processing may take one day up to 5 days, depending on your bank.
2. PayPal to GCash
You may also withdraw your PayPal balance through GCash and get your funds almost instantly for free. You just need to link your PayPal account to your GCash account to process the withdrawal. Once the money is in, you may transfer your GCash funds to your bank account or use it to make cashless transactions. You may also cash out your GCash through its over-the-counter partners or ATM nationwide using the GCash Mastercard.
3. PayPal to PayMaya
Another way to withdraw your PayPal balance is through PayMaya. You may choose between standard transfer (1-3 business days) or instant transfer (within a few minutes) with applicable fees. Just like withdrawing through GCash, you need to link your PayPal account to your PayMaya account to transfer your balance.
Why withdraw PayPal funds using GCash
Here are some reasons why PayPal to GCash balance transfer might be the right for you:
1. You want a real-time money transfer
Unlike bank transfers that may take days for your funds to reflect in your account, PayPal to GCash transactions are processed in near-to real-time. In rare cases, it may take up to only 24 hours for your money to get into your GCash wallet. Standard PayMAya transfers also take a few days to process unless you pay an additional fee for the instant transfer.
2. You don’t want any more of the charges
Every peso counts. Good thing, PayPal to GCash fund transfer is free of charge. You only need to withdraw the minimum amount of P500 and enjoy free processing. With bank transfers, you may need to pay a fixed transaction fee for every PayPal withdrawal, depending on your bank. You also need to pay P50 when you process less than P7,000. If you intend to withdraw every month, imagine how much you can save when you use GCash.
3. You value versatility and convenience
There are many things you can do with your GCash wallet. As mentioned earlier in the post, you can conveniently send and receive money, make bank transfers, pay bills, shop online, buy load, and make cashless transactions with other people using GCash.
How to transfer money from PayPal to GCash
To withdraw your money from PayPal to GCash, you need to link your PayPal account to your GCash account.
What are the requirements in linking PayPal account to GCash e-wallet
According to GCash, you need to meet the following conditions to link your PayPal account to your Gcash account:
- You must own both the PayPal and GCash accounts to be linked.
- Both accounts must exactly have the same first and last name.
- Your PayPal account must be set up in the Philippines.
- Your PayPal account type must be personal and not a business type.
- Your GCash account has to be fully verified. If you have been using the features of GCash, it means your account has been verified. If you are not sure about it, you may read this post from GCash: How to Get Verified.
How to link PayPal account to GCash
Assuming you have met all the requirements above, you may now link your PayPal account to your GCash account.
- Log in to your GCash app.
- On the lower right side of the screen, click Profile.
- Choose My Linked Accounts.
- Select PayPal.
- Enter your PayPal email address and click the link button.
- You will be brought to the PayPal login page. Input your PayPal username and password.
- Click Authorize to complete the process.
After the linking process, you will shortly receive an email from PayPal stating that you have successfully enrolled for Preapproved Payments to G-Exchange, Inc. (GCash). This means that PayPal is giving GCash temporary permission to transfer PayPal balances to your linked GCash account.
How to transfer funds from PayPal to GCash
Once you have linked your PayPal account to your GCash account, you may now transfer your PayPal funds at any time. Here’s how:
- Log in to your GCash account.
- Choose Cash-in on the dashboard.
- Select PayPal under Global Partners and Remittance.
- Enter the amount you want to transfer (minimum of P500). Click Next.
- Check if you entered the corrected amount. Tap Confirm. Once confirmed, a screen will prompt notifying that your transaction is being processed and that you will receive an SMS notification once your transaction is complete.
You will receive an email from PayPal that your account has been debited with your cash-in amount. You will also get an SMS notification from GCash confirming that your funds have been successfully transferred to your GCash wallet.
Here is an instructional video from PayPal on how to withdraw your balance to GCash.
PayPal to GCash is a quick, efficient, and free way to withdraw money from PayPal. You simply need to link your PayPal account to your GCash account to process the money transfer. This is an excellent option for small business owners and freelancers like digital marketers, graphic designers, and more who want to receive their money for free without waiting for days.