Shopee doesn’t disappoint us because there are so many features that you can use on this platform.
Aside from buying and selling, you can use Shopee to transfer funds from your Shopee account to your bank accounts.
You can take advantage of this bank transfer service as it is free of charge (transfer fees). Additionally, the funds are transferred in real-time.
All thanks to ShopeePay for this service you can rarely find elsewhere.
This article will show you the correct, real-time, and free bank transfer using ShopeePay.
Table of Contents
- What is ShopeePay?
- How to transfer funds from ShopeePay to banks and e-wallets?
- How can I take advantage of ShopeePay’s free bank transfer?
- Frequently asked questions
- Final thoughts
- References and Downloads
What is ShopeePay?
ShopeePay serves as a virtual wallet for Shopee users. ShopeePay allows the users to go cashless for every transaction they make on Shopee. Users can use ShopeePay to pay orders, pay bills, buy e-loads, and many more.
How to transfer funds from ShopeePay to banks and e-wallets?
ShopeePay has a Bank Transfer feature which we will NOT use in this case. Why? Because your funds will not be transferred in real-time.
Instead of Bank Transfer, we’ll use the Send Money feature to make a real-time and free bank transfer.
You may follow the 5 easy steps below to transfer your money from ShopeePay to your bank accounts.
- Click the Me tab on the Shopee app.
- Click Send Money.
- Click To Bank Account.
- Enter the recipient’s details.
- Click Next and enter your ShopeePay pin if prompted.
If you want to transfer to an e-wallet account, on step 3, you want to click To Other E-Wallet instead of To Bank Account.
By doing this, I guarantee that your funds will reach their destination in no time.
Below is the list of banks you can transfer your ShopeePay funds to.
- Union Bank
- BDO Unibank
- Standard Chartered Bank
- Security Bank
- EastWest Bank
- RCBC or DiskarTech
- China Bank
- Philippines Savings Bank
- Robinsons Bank
- Sterling Bank
- Philippine Business Bank
- Veterans Bank
- Wealth Development Bank
- Philippine Bank of Communication
- Partner Rural Bank
- Maybank Philippines
- Malaysian Bank Savings and Mortgage Bank
- Equicom Savings Bank
- EastWest Rural Bank or Komo
- Dungganon Bank
- China Bank Savings
- Card Bank
- Bank of Commerce
- Legazpi Savings Bank
Aside from bank transfer, you can also transfer your ShopeePay funds to e-wallets.
Here is the list of e-wallets you can transfer your ShopeePay funds to.
How can I take advantage of ShopeePay’s free bank transfer?
Free and real-time bank transfer is essential if you have voluminous online transactions every day. And if you just want to save bank transfer fees, you can use the method above.
For example, GCash will charge its user ₱15 for each bank transfer as of writing this article. If you make 10 bank transfers within one day, the total fees you pay to GCash is ₱150.
This sounds like a lot of money to pay for a mere bank transfer.
However, using the method above, you can save your ₱150 and use it for other purposes.
But how? You just have to top-up your ShopeePay account using GCash and use the method above to do the bank transfer. GCash cash-in is also free of charge.
Frequently asked questions
I have cards to go cashless; why do I need ShopeePay?
Aside from being cashless for each transaction, ShopeePay offers a variety of features such as money transfers from banks to e-wallets. Additionally, you can claim a free shipping voucher if you use ShopeePay for a qualified purchase.
What is the minimum amount for a ShopeePay bank transfer?
You can transfer as low as ₱1 to your bank and e-wallets. But, you can’t input a cent amount to transfer.
Can I get a refund for a ShopeePay bank transfer?
If the bank transfer has failed, chances are the funds will not be credited out of your wallet. But, if you did not receive the funds, you can contact Shopee Customer Service and provide your transactions ID.
The transaction ID is found on your latest transaction history. You may copy and save it.
If you’re a platinum member of the Shopee loyalty program, Shopee will assign a dedicated customer service team to answer your queries.
The Send Money feature of ShopeePay is a lot way better than other bank transfers offered by banks and e-wallets out there. Most of the banks and e-wallets offer free bank transfers. But, the transfer is not real-time as they use the PESONET service.
Furthermore, you can only do real-time bank transfers if you use the INSTAPAY service. But, it will cost you bank transfer fees from ₱5 to ₱30 depending on the banks and e-wallets.