More OFW families are now saving and investing
June 16, 2008
Now, here’s one more good news.
According to the Bangko Sentral ng Pilipinas (Central Bank of the Philippines), almost half of the families of Overseas Filipino Workers (OFW) are now saving and investing part of the remittances they are receiving.
PNB’s ‘no maintaining balance’ policy for OFWs
June 14, 2008
A Philippine Daily Inquirer article reported that the Philippine National Bank (PNB) has been implementing a “no maintaining balance” policy for overseas Filipino workers (OFWs) and their dependents since 2007.
Best UITFs in the Philippines, as of Feb. 2008
February 13, 2008
Here’s a list of the top performing Unit Investment Trust Funds (UITF) in the Philippines, as of February 7, 2008.
UITF is an investment product very similar to Mutual Funds. It is a “trust” product, meaning, the entity offering the UITF (the trustee) administers the fund in behalf of individuals (trustors) whose resources have been combined into the fund. It is normally offered by a bank or financial institution and, as a non-deposit product, is not guaranteed by the Philippine Deposit Insurance Corporation or PDIC.
The returns shown below are Year-to-Date (YTD) performance, meaning, from January 1 until the current date, i.e., February 7, 2008. Take note that historical performance is never a guarantee of future results.
Complete list of Paypal Bank Codes in the Philippines
January 27, 2008
PayPal has finally released the “official” list of Bank Codes for PayPal Philippines. Check our list below.
Apparently, the initial “bank code” information we got from Metrobank and BPI were wrong. A note to our Paypal friends: before you launched this new direct withdraw feature, you should have at least coordinated with local banks and issued the bank codes simultaneously with the launch. Until now, most bank people have no idea whenever we ask them about the PayPal Philippines Bank Codes.
Anyway, I personally hope this officially begins the fruitful relationship of Filipino online earners with PayPal. Finally, users in the Philippines will have no problem attaching their bank accounts and can now request to directly withdraw their PayPal funds!
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If you are withdrawing PayPal to your bank account in the Philippines, you’re probably wondering what the “Bank Code” is.
If this is your first attempt to withdraw PayPal, you need to add a bank account to your PayPal account first. To do this, log in to PayPal, go to My Account > Profile > Add or Edit Bank Account then fill in the Bank Name, Account Number, and Bank Code.
What is the Bank Code? See below.
Official List of PayPal Philippines Bank Codes
| Bank Name | 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 (& 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 |
| DEUTSCHE BANK | 010650013 |
| EAST WEST BANK | 010620014 |
| EXPORT & INDUSTRY BANK | 010860010 |
| FUJI BANK | 010640010 |
| HONGKONG AND SHANGHAI BANK (HSBC) | 010060014 |
| INTL COMML BANK OF CHINA | 010560019 |
| INTL EXCHANGE BANK | 010680012 |
| JP MORGAN CHASE BANK | 010720011 |
| KOREA EXCHANGE BANK | 010710018 |
| INTL NEDERLAND BANK | 010660016 |
| 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 |
List of methods to withdraw PayPal in the Philippines
November 2, 2007
Based on personal experiences posted by dozens of PayPal Philippines users, this post summarizes the different ways of withdrawing Paypal in the Philippines.
Our list is not limited to debit and credit cards alone. We also gathered information regarding a few non-traditional methods of converting PayPal funds into cash.
Possible Methods of Withdrawing PayPal in the Philippines
| Method/Service | Possible to Withdraw? | Fund Transfer Type |
|---|---|---|
| UnionBank EON/eWallet | Yes | Deposit to bank account (ATM) |
| Citibank Visa | Yes | Cash Advance or Over-payment Cheque |
| Citibank MasterCard | Yes | Cash Advance or Over-payment Cheque (?) |
| HSBC Visa | Yes | Cash Advance |
| Standard Chartered Visa | Yes | Cash Advance (?) |
| Metrobank Visa | Yes | Cash Advance |
| EPCI Bank Visa Electron | Yes | Deposit to bank account (ATM) |
| Xoom.com | Yes | Deposit to bank account or Cash Pickup |
| Chikka.com | Yes | Load credits convertible to cash (?) |
| Scriptlance.com | Yes | Withdrawn as e-gold convertible to cash |
| ATM cards w/o Visa/Mastercard logo | No | - |
| BDO Debit card w/ Mastercard logo | No | - |
| BDO Mastercard | No | - |
| ChinaTrust Visa | No | - |
| Globe G-Cash | No | - |
Each method is explained in detail below.
More details in the discussion thread How to withdraw funds from Paypal Philippines.
