Although we’ve covered the basic set-ups for both withdrawal options, I think it’s best to bring up 10 of the most common PayPal and LFT questions and answer them one by one.
- Is BPI Express similar to BPI Family Savings Bank?
BPI Express is not similar to BPI Family Savings. The latter is a subsidiary of BPI, so try not to mix the two up. I suggest BPI Express since I’ve been a client for 3 straight years and had no problems with them for both withdrawal options.
- What is a BRSTN code? What is a bank code?
A BRSTN code is a Bank Routing Symbol Transit Number, otherwise known as the bank codes that we use for PayPal.
If you need the BRSTN code for LFT, you can either refer to this list or enter the name of your bank when adding an LFT account. oDesk will automatically detect its correct BRSTN code.
- For Unionbank EON users, which one is the card number and the account number? What number should I use to withdraw?
Use the account number when adding your bank account details for PayPal or LFT.
- Why haven’t I received my money yet? It’s been 3 days!
PayPal takes about 1-2 days while the improved PHP Local Funds Transfer takes 2-3 days to deposit funds to your bank account.
Withdrawals from PayPal or LFT can be delayed for several reasons, particularly holidays and non-banking days. If your funds haven’t arrived yet, check your calendar to see if you withdrew on a day that’s close to a US/Philippine holiday or a weekend.
- I just added a withdrawal method on oDesk. Its status is currently inactive. How long will it take till it is active and ready?
After adding a new withdrawal method on oDesk (PayPal or LFT), you need to wait for about four (4) banking days till you can use it.
- I don’t have a bank account, but my sister/dad/mom/aunt/second cousin does. Can I use that instead?
oDesk has released a new policy last July 21 that requires your bank account name to be exactly the same as the name in your verified oDesk account. This means you can’t use your family member’s bank accounts any longer to withdraw using LFT. According to oDesk,
…in compliance with anti-money laundering regulations, we will only be able to send payments to bank accounts that are owned by the oDesk contractor who performed the work and earned the payment.
- “The amount you are trying to withdraw is greater than your withdrawal limit. Please link and confirm a debit or credit card to lift this limit.” Why do I keep getting this message? What does it mean?
This message means you did not successfully verify your PayPal account. Unverified accounts can’t withdraw funds to a bank account, so you’ll have to complete the process first before anything else. Check out How to Verify Your Philippine PayPal Account for more information.
- Is it possible to transfer funds even if my PayPal account is unverified?
Nope, it isn’t.
- What can I use to verify my PayPal account?
A Visa or Mastercard credit or debit card. You can either open a credit account at your bank of choice or use Unionbank’s EON debit card. Check out How to Withdraw from PayPal to Unionbank EON for more information.
- My money was refunded to my account. Why is this so?
The most common reason is because of inaccurate bank account information. Make sure that your name is exactly the same as what is in your PayPal or LFT account, as well as your bank account number, bank name, and BRSTN code.
If everything seems to be correct and your money still hasn’t arrived, contact oDesk customer support, PayPal customer support, or both. They’re the best people to turn to for technical problems.