At last, withdrawing funds from Philippine based paypal accounts is now much easier. Getting your paypal money is not just limited to getting it through your credit card or debit card. Paypal has finally made withdrawing funds to Philippine bank account, yes not just US bank accounts, available.
Philippine banks / bank accounts that can receive paypal money:
No list provided by Paypal All local banks can receive paypal funds but your bank account should be in Peso Account not dollar account. You may also refer to this table of bank codes from pinoymoneytalk. The bank code is required when you register your bank account. This table currently includes bank codes of Metrobank, Bank of the Philippine Islands (BPI) / BPI Family Savings Bank, Citibank / Citibank Savings, Citibank / Citibank Savings and Chinabank. If yours is a BDO (banco de oro), check this post for details.
Here is the list of Philippine Bank Codes released by Paypal:
BANK NAME
|
9 digit bank code
|
ALLIED BANKING CORP |
010320013
|
AUSTRALIA NEW ZEALAND |
010700015
|
ASIA UNITED BANK |
011020011
|
BANGKO SENTRAL NG PILIPINAS |
010030015
|
BANGKOK BANK |
010670019
|
BANK OF AMERICA |
010120019
|
BANK OF CHINA |
011140014
|
BANK OF TOKYO |
010460012
|
BANCO DE ORO (& EPCIB) |
010530667
|
BANK OF COMMERCE |
010440016
|
BANK OF THE PHIL ISLANDS |
010040018
|
CHINA BANKING CORP |
010100013
|
CHINA TRUST COMML BANK |
010690015
|
CITIBANK N.A. |
010070017
|
DEVT BANK OF THE PHILS |
010590018
|
DEUTSCHE BANK |
010650013
|
EAST WEST BANK |
010620014
|
EXPORT & INDUSTRY BANK |
010860010
|
FUJI BANK |
010640010
|
HONGKONG AND SHANGHAI BANK |
010060014
|
INTL COMML BANK OF CHINA |
010560019
|
INTL EXCHANGE BANK |
010680012
|
JP MORGAN CHASE BANK |
010720011
|
KOREA EXCHANGE BANK |
010710018
|
INTL NEDERLAND BANK |
010660016
|
LAND BANK OF THE PHILS |
010350025
|
MAYBANK OF THE PHILS |
010220016
|
METROPOLITAN BANK & TRUST CO |
010269996
|
PHIL BANK OF COMMUNICATION |
010110016
|
PHIL TRUST COMPANY |
010090039
|
PHIL NATIONAL BANK |
010080010
|
PRUDENTIAL BANK |
010150018
|
PHIL VETERANS BANK |
010330016
|
RIZAL COMML BANKING CORP |
010280014
|
SECURITY BANK & TRUST CO |
010140015
|
STANDARD CHARTERED BANK |
010050011
|
UNITED COCONUT PLANTERS BANK |
010299995
|
UNION BANK OF THE PHILS |
010419995
|
UNITED OVERSEAS BANK |
010270189
|
How to Get Your Bank code
If your bank is not listed here, inquire from your bank's customer service or personally visit your bank for inquiry.
Processing remains at 5-7 days after you submit your withdrawal request. Refer to the chart below:
Day/Time Requested_test
|
Day/Time Available (Days are one full week after the request is made)
|
Mon by 17:00 PHT
|
Tues by 17:00 PHT
|
Wed by 17:00 PHT
|
Thurs by 17:00 PHT
|
Fri by 17:00 PHT
|
Wed by 17:00 PHT
|
|
|
|
|
x
|
Thurs by 17:00 PHT
|
x
|
|
|
|
|
Fri by 17:00 PHT
|
|
x
|
|
|
|
Weekends - Sunday by 17:00 PHT |
|
x
|
|
|
|
Mon by 17:00 PHT
|
|
|
x
|
|
|
Tues by 17:00 PHT
|
|
|
|
x
|
|
Note that the availability of funds can be affected by bank policies and holidays
Fees
7,000.00 PHP or more: Free
for 6,999.99 PHP or less: 50.00 PHP
Related Blog Posts and What bloggers think about this development:
Paypal to Philippine Bank Withdrawal Service
PayPal Bank Transfers Catch UnionBank Off-Guard