Last month, I waited two weeks for Union Bank to activate my EON card. I’ve only used it once, and now I may never have to. We (people residing in the Philippines) can now withdraw funds from our Paypal to our local bank accounts. I just tried adding my BPI account, and it was a success. Try adding yours too!

Paypal withdraw philippine bank accounts

As you can see, it’s way cheaper to withdraw funds to a local bank account than to a credit / debit card. The former only costs PhP50.00 to withdraw an amount of PhP 6,999.99 or less, and free for PhP 7,000 or more; while the latter costs US$5.00 for every withdrawal. Both transactions take 5-7 business days of processing time.

Here are the bank codes that you will need:

  • ALLIED BANKING CORP 010320013
  • ASIA UNITED BANK - 011020011
  • BANGKO SENTRAL NG PILIPINAS - 010030015
  • BANCO DE ORO (& EQUITABLE PCI BANK) - 010530667
  • BANK OF COMMERCE - 010440016
  • BANK OF THE PHIL ISLANDS (BPI) - 010040018
  • CHINA BANKING CORP 010100013
  • CHINA TRUST COMML BANK - 010690015
  • CITIBANK N.A. - 010070017
  • DEVT BANK OF THE PHILS (DBP) - 010590018
  • EAST WEST BANK - 010620014
  • EXPORT & INDUSTRY BANK - 010860010
  • JP MORGAN CHASE BANK - 010720011
  • LANDBANK 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 (PNB) - 010080010
  • PRUDENTIAL BANK - 010150018
  • PHIL VETERANS BANK  - 010330016
  • RIZAL COMML BANKING CORP (RCBC) – 010280014
  • SECURITY BANK & TRUST CO - 010140015
  • STANDARD CHARTERED BANK - 010050011
  • UNITED COCONUT PLANTERS BANK - 010299995
  • UNION BANK OF THE PHILS (UBP)  - 010419995
  • UNITED OVERSEAS BANK - 010270189

Then again, never say never. I know I don’t have to say goodbye to my still-shiny, hardly-used EON card. Since it’s a Visa debit card, I still may be able to use it in more ways than one.

What’s your local bank account? Have you tried adding it to your Paypal?