Payment Methods
PAYONEER
This is the fastest payment method. You get your card loaded within two days or get the funds in your card immediately in more or less than two hours
by paying $3 for immediate load fee. You can use the card for with any Mastercard merchant purchase or choose to withdraw the funds in the card
for $2.15 per withdrawal + 3% of the withdrawal amount. You are limited to the maximum withdrawal limit in which the ATM is designed, therefore,
if the limit is P10,000 and you need to get P12,000 from the card fund, you need to pay $2.15 for every withdrawal (that is, $2.15 for the first P10,000
then another $2.15 for the remaining $3,000). If you lose your debit card, you need to wait quite a long time (a month is long enough) after requesting a replacement card.
PAYPAL (Verified Personal accounts)
Could be cheaper to use than when withdrawing funds with Payoneer. Just pay $1.00 withdrawal from oDesk and only P50 from Paypal to the Philippine bank
(withdrawal is FREE if the amount to be withdrawn is P7,000 above); Unionbank does not charge for incoming transfers from Paypal while BDO charges P200
and BPI charges 150. It takes a longer time to withdraw the money to a local bank and there is no other way to expedite the transfer (5 to 7 working days).
But in my case, it only takes a day before funds are transferred to my BPI account.
MONEYBOOKERS
I have not tried to withdraw money into my Moneybookers account so I am not able to provide information on all the details.
WIRE TRANSFER
This is another method that is possible, but I wouldn't recommend using this. Withdrawal from oDesk can be quite expensive ($30 per withdrawal).
LOCAL FUNDS TRANSFER
This is the most direct and least expensive withdrawal method for contractors with bank accounts in the Philippines. With Local Funds Transfer,
you directly deposit your earnings into your local bank account, in Pesos, for a low, flat fee. oDesk charges $1.99 per withdrawal in Philippines Peso
but it's free for your first transaction.
BPI: FREE | Union Bank: P50 | BDO: P200 | Metrobank: P76.70
ChinaBank: P200 | RCBC: P100 | LandBank: P50 | PNB: P250
PAYONEER
This is the fastest payment method. You get your card loaded within two days or get the funds in your card immediately in more or less than two hours
by paying $3 for immediate load fee. You can use the card for with any Mastercard merchant purchase or choose to withdraw the funds in the card
for $2.15 per withdrawal + 3% of the withdrawal amount. You are limited to the maximum withdrawal limit in which the ATM is designed, therefore,
if the limit is P10,000 and you need to get P12,000 from the card fund, you need to pay $2.15 for every withdrawal (that is, $2.15 for the first P10,000
then another $2.15 for the remaining $3,000). If you lose your debit card, you need to wait quite a long time (a month is long enough) after requesting a replacement card.
PAYPAL (Verified Personal accounts)
Could be cheaper to use than when withdrawing funds with Payoneer. Just pay $1.00 withdrawal from oDesk and only P50 from Paypal to the Philippine bank
(withdrawal is FREE if the amount to be withdrawn is P7,000 above); Unionbank does not charge for incoming transfers from Paypal while BDO charges P200
and BPI charges 150. It takes a longer time to withdraw the money to a local bank and there is no other way to expedite the transfer (5 to 7 working days).
But in my case, it only takes a day before funds are transferred to my BPI account.
MONEYBOOKERS
I have not tried to withdraw money into my Moneybookers account so I am not able to provide information on all the details.
WIRE TRANSFER
This is another method that is possible, but I wouldn't recommend using this. Withdrawal from oDesk can be quite expensive ($30 per withdrawal).
LOCAL FUNDS TRANSFER
This is the most direct and least expensive withdrawal method for contractors with bank accounts in the Philippines. With Local Funds Transfer,
you directly deposit your earnings into your local bank account, in Pesos, for a low, flat fee. oDesk charges $1.99 per withdrawal in Philippines Peso
but it's free for your first transaction.
BPI: FREE | Union Bank: P50 | BDO: P200 | Metrobank: P76.70
ChinaBank: P200 | RCBC: P100 | LandBank: P50 | PNB: P250
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