You’ve worked hard to earn the money in your PayPal account, and now you’re thinking about spending that money. Problem is, it takes some time to receive your money since PayPal to bank transfers often take several days to complete. Good thing that there’s GCash for those immediate or emergency situations. PayPal to GCash transfers are instant, and you can immediately use that money for your personal needs once it’s in your GCash wallet.
I mostly use UnionBank to withdraw my money from PayPal and it takes only one banking day to complete. With GCash, transfers happen in real time and you will have the money in your wallet within a few seconds.
Another advantage with GCash is that there are no withdrawal fees when you transfer your money from PayPal. With most bank withdrawals, you are charged a ₱50 fee for amounts not exceeding ₱7,000. GCash doesn’t charge you a fee, no matter how big or small the withdrawal amount is. This makes GCash appealing to many Filipinos who are looking to save as much money as possible from their earnings.
GCash is a mobile wallet that you can use to conveniently pay your bills, buy prepaid load, purchase items, and send and receive money. PayPal, on the other hand, is the world’s most popular online payment system that allows you to pay send and receive money using an email address. Both are free to sign up and free to use.
In this short tutorial, I’ll teach you how to link your GCash and PayPal accounts, as well as how to transfer money from PayPal to GCash. Make sure that you have active PayPal and GCash accounts. If you don’t have a PayPal account yet, read our guide on how to open a PayPal account in the Philippines.
How to Link Your GCash Account with PayPal
Before you can transfer funds from PayPal to GCash, you must first link your GCash account with PayPal. This is a one-time procedure; after linking, you can transfer money from your PayPal account to your GCash wallet as many times as you want.
Step 2: Tap the hamburger menu on the top-left portion of the screen to open the sliding menu.
Step 3: Tap “My Linked Accounts” on the sliding menu.
Step 3: You can see a list of accounts that can be linked with GCash. Tap “PayPal” to continue.
Step 4: Enter your PayPal email. Make sure that the first and last names in your PayPal and GCash accounts are the same. Tap the “LINK” button to continue.
Step 5: Enter your PayPal email address and password. Tap “Authorize” to link your GCash account with PayPal.
Step 6: The next screen will tell you if the linking is successful. Tap “Close and Continue” or wait for the screen to automatically redirect you to the next step.
Step 7: Congratulations! Your PayPal account has been linked to your GCash wallet. You can now start transferring money from PayPal to GCash.
How to Transfer Funds from PayPal to GCash
Now that your GCash and PayPal accounts are linked, it’s time to transfer money from your PayPal account to your GCash wallet. Here is how to do it:
Step 1: Open the GCash app and enter your four-digit MPIN.
Step 2: Tap “Cash In” as shown in the screenshot below.
Step 3: There are three Cash In options: Over-the-Counter, Online Banking and Remittance. Choose Remittance. Then tap “PayPal” under Payment Partners.
Step 4: Enter the amount in pesos that you want to transfer. The minimum amount required is ₱500.
Take note that you cannot transfer US dollar amounts (or any other foreign currency), only Philippine pesos. If you have PayPal balance in US dollars or other currency, you should convert it to Philippine pesos first before transferring the money to GCash. Read the next section, “How to Convert US Dollars to Philippine Pesos in PayPal” for the step-by-step guide to converting your dollars to pesos.
Tap “NEXT” to continue.
Step 5: Review the amount that you want to transfer. Tap “CONFIRM” to proceed with the transfer.
Step 6: Wait for the transaction to be completed. It usually takes only a few seconds for the money to arrive in your GCash wallet. You will receive a text message confirming the fund transfer as well as an email from PayPal.
Step 7: Congratulations! You can now use the money for your GCash transactions such as paying bills, buying prepaid load, and sending money to a friend. You can also withdraw your money through the Cash Out option or through your GCash Mastercard using any of over 20,000 BancNet ATMs all over the country.
How to Convert US Dollars to Philippine Pesos in PayPal
As mentioned before, GCash only allows the transfer of funds in Philippine pesos from PayPal. The problem is, most of us have our PayPal funds in US dollars. This is especially true for freelancers and online workers who usually receive their earnings in US dollars.
The solution is to convert your US dollars to Philippine pesos in PayPal. This can be done instantly and your converted funds will be displayed separately in your PayPal wallet.
You can also convert other foreign currencies to Philippine pesos, and vice versa. Keep in mind that PayPal conversion rates are lower than real-time foreign exchange rates.
Step 1: Log in to your PayPal account.
Step 2: Click or tap the kebab menu on the right side of your PayPal balance, and then click “Manage currencies.” Or you can go straight to your PayPal wallet by clicking “Wallet.”
Step 3: In your PayPal wallet, go the “USD” part of your PayPal balance summary, click the menu on the right, and click “Convert currency.”
Step 4: Choose “Philippine Peso” and click “Next.”
Step 5: Enter the US dollar amount that you want to convert to Philippine pesos, taking note of the conversion rate. The amount should not exceed your USD balance. Click “Next” to continue.
Step 6: Review your transaction. Click “Convert Now” to perform the currency conversion.
Step 7: You have successfully converted your US dollars to Philippine pesos. You can now transfer your converted funds to your GCash wallet.
As you can see, it doesn’t take too many steps to start transferring your money from PayPal to GCash. You can use your existing PayPal balance to top up your GCash wallet and enjoy zero transaction fees and real-time money transfers. It’s so easy and convenient! You can even get a GCash MasterCard debit card to withdraw your money from any BancNet ATM.
If you have any questions about PayPal to GCash transfers, just comment below and I will do my best to help you.