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How to transfer online from and to any Philippines Bank

How to transfer online from and to any Philippines Bank

Most freelancers in the Philippines will agree that the banking system of the islands is a little bit outdated for the following reasons:

  1. It is not allowed in most banks to do 3rd party fund transfers online in other banks (i.e: BDO to UnionBank to EastWest Bank)
  2. Even the few banks that allow to do inter-bank transfers online charge fees that areĀ  excessively high
  3. Transfers take too long
  4. There are hefty account maintenance balance rules

Anyone needing to do a Bank to Bank online transfer within The Philippines can use to make instant payments to their peers who can then cash out within 24 hours to most Banks and Pera Padala services at the speed of a click.

How does it work to do free online transfers to and from any Bank in the Philippines :

  1. Get a PayPana account at
  2. Make sure your friend, relative or supplier has a PayPana account too
  3. Both accounts must be verified (verification is very simple and intuitive)
  4. Fund $ your account using the local Bank, PayPal or even Bitcoins
  5. Go to: your account > transfers
  6. Insert the email address of the person you want to pay (must be registered in PayPana)
  7. In seconds the person receives the money in their PayPanaThen, your beneficiary must withdraw the funds to their Bank, PayPal or Bitcoins account
  8. Go to her account > withdrawal
  9. Choose the amount and method of the cashout

At the time of writing this article the fee for instant transfers paypana-paypana is only half percent with a cap of P250 and the currency of your paypana eWallet is in USD, hence all deposit and withdrawals to peso are automatically exchanged online.

PayPana needs verification for all users to withdraw funds but the procedure is very easy and reasonable. All transactions are serviced at maximum 24 hours from the moment the account owner issues an instruction and normally it is much much faster

Alternative to do instant payments in The Philippines

How to do online bank transfer within The Philippines banks