Yes it’s finally here. Paypal finally opens it’s doors (fully) to the Philippines, banks and citizens alike.

No more lost checks in the mail, no more application for specialized credit cards. Just fork over P250.00 for each transaction under P7,000.00 (above that is free) and you’ll get money from your Paypal Account transferred to your Philippine Bank Account in 5-7 working days. Easy right?

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All you need are your bank’s (the one where you’ll transfer the money into) details which include Bank Name, Bank Code (9 digits), and Account Number. The question now that everyone’s asking is what in the world are the Bank Codes? Their obviously not the same as Swift Codes or Bank Identifier Codes that Money Bookers use since their just 8 characters as opposed to Paypal’s 9 digits. Hmm.. guess it’s a mystery till Paypal updates their site.

I’ll update the post when I find more information.

Update:

Paypal Philippines Bank Codes found so far

For more info, why not check out PMT’s post on withdrawing from Paypal funds from your Philippine Bank and the List of Paypal Philippine Bank Codes. A big thanks to PinoyMoneyTalk for finding out about this interesting morsel ^^.

Update 2:

Paypal finally releases the full list of bank codes on an ebay page.

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