With traditional employment giving way to the gig economy, platforms like Upwork, Fiverr, and online marketplaces have become the main sources of income for a growing subset of Filipino professionals. For many, the freelance lifestyle is not just about higher earning potential but the consequential freedom and work-life balance made possible by flexible schedules.
But while the gig economy, as we know it, is at least a couple of decades old at this point, veteran freelancers may still struggle to access cross-border gig payments, even when facilitated through trusted tools like PayPal. You can’t always use alternatives, either. PayPal has been a leader in international payments since the late 1990s, with millions of businesses the world over relying on the platform. Even so, it’s not always simple for Filipino freelancers to withdraw from PayPal.
If you're looking for a smarter way to receive your gig worker payments, look no further. Here’s a practical guide to your PayPal cashout options and why Maya is still the best one for freelancers.
PayPal Cashout Option #1: Traditional Bank Transfers
Many freelancers still use traditional bank transfers to withdraw money from PayPal. While this method is safe and familiar, it comes with multiple hidden costs. Between PayPal's withdrawal fees and the unfavorable foreign exchange margins at most traditional banks, you could easily lose a good portion of your earnings. Traditional banks also tend to require a 1- to 3-business-day wait before they disburse your funds, making this ideal when you need your money quickly.
If you’re using traditional bank transfers as your main freelancer payment method, it may be time to explore other PayPal cashout options. Digital banks like Maya tend to be a better bet, given their much stronger focus on online payment services.
PayPal Cashout Option #2: Cash Pickup and Over-the-Counter Services
Some platforms and remittance companies offer over-the-counter PayPal withdrawals through physical outlets. Because they tend to have lower fees than traditional banks, they have been popular for decades, and they do work in a pinch as a virtual assistant payment method or freelancer cashout tool. Still, they often involve long queues, daily withdrawal limits, or service hours that don’t match your schedule. Not to mention, there’s the added risk of carrying large amounts of cash.
Given that there are other, less finicky options, it’s best to leave this option for emergencies and not for typical withdrawals.
PayPal Cashout Option #3: Cash Out via International Debit Cards
Some freelancers opt to link international debit cards to their PayPal account. While this does give you quick access to your earnings, the tradeoffs are similar to those of bank transfers: higher withdrawal fees or unfavorable exchange rates. Sure, there are times when convenience matters, but relying on a card based outside the Philippines will almost certainly make managing your funds unnecessarily complicated.
PayPal Cashout Option #4: Free Cashout through a Maya Card
Now for the good news. If you’re looking to withdraw from PayPal without the headache of fees or delays, Maya offers one of the best solutions for gig worker payments in the Philippines.
Right now, you can link either your virtual or physical Maya Card directly to your PayPal account and enjoy PHP 250 cashback when you transfer at least PHP 15,000. This effectively covers your withdrawal fees, making the transfer free.
And it doesn’t stop there. Once the funds land in your Maya Wallet, you can then move them into Maya Savings, where you can boost the interest rate up to 15% per annum, simply by using Maya services for everyday transactions, like buying load, paying bills, using Maya Easy Credit, paying via QR Ph, using your Maya Card, or paying with Maya online. That means your gig payments can actually grow instead of sitting idle.
Manage Everything You Need Over the Maya App
Maya didn’t become the #1 digital bank in the Philippines for nothing. Unlike traditional banks or standalone wallets, Maya offers all the tools you need to support every stage of your freelance journey. Whether it’s receiving payments to growing your savings, Maya has it all. You’ll get access to:
- A high-performance Maya Savings account with up to 15% interest per annum on your first PHP 100,000 deposit
- Tools like Maya Personal Goals can help you set aside funds for taxes, equipment, or emergencies
- Hi-tech, AI-driven security to protect your earnings 24/7
- A user-friendly app with real-time alerts, spend tracking, and biometric logins
Having your earnings, savings, and expenses all in one place makes managing your cash flow much less stressful. You’ll enjoy this simplicity even more once you start scaling up your freelancing practice.
Maya Is Built for Freelancers Like You
As a freelancer, you might not enjoy the same perks as full-time employees. Aside from not having fixed benefits, you aren’t necessarily on your client’s automatic payroll, and you’re probably last on their HR team’s priority list for reimbursements. Even so, you can build something better.
Maya’s ecosystem is designed to help you maximize and protect your earnings, with add-ons like budget-friendly credit options, insurance, and a fully digital platform that puts you in control of your finances. It’s the ideal provider for freelancers, digital nomads, virtual assistants, gig workers, and anyone else who wants a freelance payroll setup that just works when one needs it to.
Finding the right freelancer payment method shouldn’t cost you excessive fees or your peace of mind. With Maya, you can skip the lines and unnecessary fees to get the absolute most out of your hard-earned gig earnings. You’ll enjoy free PayPal cashout and exclusive promos when you make Maya’s tools part of your freelancing toolkit. Download the Maya app today, link your PayPal account, and enjoy a better, smarter way to get paid.
