What is PayPal?
PayPal is an online payments system where users can
- Shop and make purchases online
- Send money to other PayPal users (users can be based in the Philippines or abroad)
- Receive money from credit/debit cardholders in addition to other PayPal users (users can be based in the Philippines or abroad)
- Effectively use their PayPal account as a “digital wallet”
How to Create a PayPal Account
Paypal sign-up is easy!
- Create a PayPal account here www.paypal.com and select “Philippines” as the country.
- Make sure to select “Philippine Peso” as the primary currency.
- PayPal accounts are FREE and you can link any Security Bank checking or savings account to your PayPal account.
Note: We have waived the PHP 200 Inward Remittance Fees on PayPal Transactions.
Paypal for Business
Paypal for Shoppers
Linking Your Bank Account
To link your Security Bank checking or savings account to your PayPal account, follow these steps:
- Login in to PayPal
- Click on “Wallet“
- Click “Link a Bank Account” and you will be directed to a short form
- Enter “Philippines” as your Country
- Enter your Name – it must match the name on your bank account
- Enter “Security Bank” as your bank name
- Enter “010140015” as your bank code
- Enter your 13-digit account number* – if you’re not sure where to find your account number, click here.
*Note that checkbooks and statement of accounts may reflect a 12-digit account number. If your account number has 12-digits, add a 0 at the beginning of the number.
Where to Find Account Numbers
If you are enrolling a Bank Account, you can find your 13-digit account number by checking online banking, the mobile app, your statement of account, your checkbook, or your passbook.
Certain statement of accounts and checkbooks may reflect a 12-digit account number. Add a 0 at the beginning of the 12-digit number to get to your 13-digit account number.
- Online Banking
- Mobile App
- Checkbook
- Passbook
- Statement of Account
Linking Your Debit Account
To link your Security Bank MasterCard debit card* to your PayPal account, follow these steps:
- Login in to PayPal
- Click on “Wallet“
- Click “Link a Credit Card” and you will be directed to a short form
- Enter your 16-character card number
- Enter your Card Verification Value (CVV)
- Enter the address attached to the account as your billing address. This is the same address that appears in your monthly bank statement.
- Your debit card should now be attached to your PayPal account. Click “Confirm Card” to request confirmation.
- The 4-digit code needed for confirmation can be found on your card’s next statement of account. You can also check your transaction history on Online Banking or call Security Bank’s customer service at 88-791-88 2 banking days after requesting confirmation from PayPal to get the 4-digit confirmation code.
*Note that non-MasterCard ATM Cards such as Cashlink ATM cards may not be linked to Paypal at this time.
How to Send Money from PayPal
You may send money to another PayPal user if there is a debit or credit card attached to your PayPal account or your PayPal account has sufficient funds in it to cover the amount being sent and any fees that PayPal may charge. To send money, follow these steps:
- Click “Pay or send payments”
- If the receiver is the a first time recipient, type in the email address or mobile phone number of the person you want to send money to – make sure this is correct.
- Enter the amount of money you want to send.
- Check and confirm the details entered and submit the payment.
Note if your PayPal account balance is less than the amount you’d like to send, PayPal will either take the remaining funds from the card linked to your PayPal account. If no card is linked to your Paypal account, nothing will be sent.
You do not need a person’s PayPal account number in order to send funds. At this point in time, PayPal uses the recipient’s email address or phone number in order to route payments.
How to Withdraw/Transfer Money from PayPal to your Bank Account
To withdraw funds in your PayPal account to a Security Bank account, follow these steps:
- Make sure you have enough money in your PayPal account
- Click “Withdraw” to be directed to the Withdraw Funds page
- Select “Withdraw funds to your bank account”. Note that withdrawals where the amount withdrawn is over P6,999 are free of any withdrawal charges while a withdrawal below P6,999 is subject to a P50 charge
- Type in the amount you wish to transfer to your bank account
- Check and confirm the withdrawal
- Your first withdrawal will take 5-7 banking days to process; future withdrawals will take 3-5 banking days to process.
Your withdrawal may be rejected by Security Bank if the following conditions are not met:
- Your Security Bank account is not a checking or savings account
- The name on your PayPal account is different than the name on your Security Bank account (if you have a Business account, the name on your PayPal account should be your business name)
- You did not enter the correct account number. Please note that you must withdraw to your bank account using your bank account number, not your debit card.