Payment


PayPal Philippine Bank Codes

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Funny how some local banks refuse to reveal these when PayPal just gives them out. Here’s a list of Philippine bank codes for PayPal withdrawals.

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

Thanks to PayPal for the info, and no thanks to slow Philippine banks for the secrecy. Thanks to Jhay Rocas for the heads-up.

PayPal Bank Transfers Catch UnionBank Off-Guard

PayPal Philippine Bank Transfers

“It’s all about thriving in markets that are smarter and faster than you are. It’s all about being utterly fucked if you don’t know what I’m talking about.” — Hugh MacLeod.

First, the good news: PayPal now transfers money to Philippine banks. It’s free for transfers above PhP7000.00, with a transaction fee of PhP50.00 (~$1.23) for transfers below that. Previously, only credit cards and UnionBank EON cards could receive PayPal funds in the Philippines, with a fixed $5.00 transaction fee.

Now, the bad news: UnionBank, with whom I opened an account for the express purpose of receiving PayPal funds through a UnionBank EON card, thinks their bank code is some sort of fucking top secret shit. I just got into a fight with one of their customer service agents over it. He questioned the need for a bank code on PayPal; I dared him to log on to his PayPal account and see for himself.

I do not appreciate being called a liar, especially by people who cannot see the obvious. Unless UnionBank gives me the information I need right now, they will lose some of my business. Interesting how they’ve turned from one of the smartest banks in the Philippines to one of the stupidest, all within the course of one Sunday. That’s what happens when your market is faster and smarter than you.

To be fair, UnionBank EON is the only Philippine debit card I would use right now to make payments online. As for receiving payments online, however, I’m afraid I’ll have to look elsewhere. Here’s a list of banks who aren’t so insanely secretive about their bank codes, courtesy of Pinoy Money Talk. Note that bank codes are different from SWIFT codes.

(Update, January 29: New list available. Click here.)

As is too often the case in opaque Philippine business, even this very basic information had to be gleaned from original customer research. Use at your own risk: PayPal charges a PhP250 return fee for incorrect details.

Smart Philippine banks will publicly post their bank codes ASAP to attract fast-moving PayPal users. If you want cheap, easy access to PayPal funds newly flowing into the Philippines, open an account with any of these banks. Don’t go with banks that are too slow or stupid to give their customers the basic information they need.

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