What Is PayPal? - Apply for Online Account and Send / Receive Money

I've been an account holder since 2004 and here's my answer for FAQ, What is PayPal?

PayPal is actually an online payment gateway for both consumers, buyers and online business owners. A leader and perhaps the only that allows transfer of money to Philippine banks today coming from online funds inside a PayPal account.

All you will need is your bank code to be able to make the transfer.

Freelance online marketers use PayPal to receive money using the internet and at times pay dollars using their account to buy goods and services like what they offer being freelance workers.

Available in 190 countries and regions, the mode of payment of this mecca online money transmittal system is accepted by merchants everywhere, both on and off eBay too which means if you have an online business using eBay, you can definitely use PayPal to receive payments directly to your account or from a credit card for a business grade account. This way, you may know what is PayPal all about.

Learn What Is PayPal and If It's Safe to Use

Is PayPal safe to use?

Well, has probably the most secure online payment system based from my own experience. Why I said so? For example, if somebody is trying to log in to your account or even if you yourself try it from other machines, say a laptop or mobile phone from another ISP or place, you won't be allowed to login unless you can confirm your account.

PayPal helps protect your credit card information with industry-leading security and fraud prevention systems only they have so even your clients and customers can pay online for your goods or services safely. Using PayPal gives your financial information security too. It is never shared with the merchant so only the paying end (you) have your information revealed to yourself.

Why use PayPal? (source: PayPal.Com)

  • Make purchases or send money with PayPal – it’s free
  • Shop and pay conveniently by saving your information with PayPal
  • PayPal is accepted by millions of businesses worldwide and is the preferred payment method on eBay

Philippine Bank Codes and Transferring Funds to Your Local Bank

Since the popularity of receiving money in the Philippine through PayPal is increasing each year as freelancers and online marketers grow in population, the system has allowed Pinoys to transfer funds from PayPal to any Philippine bank. If you are one who is looking how to convert dollar to peso using online fund or money transfer via PayPal, all you will need is a bank code. Below is a list of the different Philippine bank codes.


We do not guarantee accuracy of the listed Philippines bank codes below. It is strongly suggested to consult with your local bank regarding this first.

To understand what is PayPal all about in terms of transferring money to your local bank in the Philippines, you can also consult with a customer service representative from PayPal.

Country Bank Bank Code
Philippines ALLIED BANKING CORP 010320013
Philippines AUSTRALIA NEW ZEALAND 010700015
Philippines ASIA UNITED BANK 011020011
Philippines BANGKOK BANK 010670019
Philippines BANK OF AMERICA 010120019
Philippines BANK OF CHINA 011140014
Philippines BANK OF TOKYO 010460012
Philippines BANCO DE ORO (& EPCIBank) 010530667
Philippines BANK OF COMMERCE 010440016
Philippines BANK OF THE PHIL ISLANDS 010040018
Philippines CHINA BANKING CORP 010100013
Philippines CHINA TRUST COMML BANK 010690015
Philippines CITIBANK N.A. 010070017
Philippines DEVT BANK OF THE PHILS 010590018
Philippines DEUTSCHE BANK 010650013
Philippines EAST WEST BANK 010620014
Philippines EXPORT & INDUSTRY BANK 010860010
Philippines FUJI BANK 010640010
Philippines HONGKONG AND SHANGHAI BANK 010060014
Philippines INTL COMML BANK OF CHINA 010560019
Philippines INTL EXCHANGE BANK 010680012
Philippines JP MORGAN CHASE BANK 010720011
Philippines KOREA EXCHANGE BANK 010710018
Philippines INTL NEDERLAND BANK 010660016
Philippines LAND BANK OF THE PHILS 010350025
Philippines MAYBANK OF THE PHILS 010220016
Philippines METROPOLITAN BANK & TRUST CO 010269996
Philippines PHIL BANK OF COMMUNICATION 010110016
Philippines PHIL TRUST COMPANY 010090039
Philippines PHIL NATIONAL BANK 010080010
Philippines PRUDENTIAL BANK 010150018
Philippines PHIL VETERANS BANK 010330016
Philippines RIZAL COMML BANKING CORP 010280014
Philippines SECURITY BANK & TRUST CO 010140015
Philippines STANDARD CHARTERED BANK 010050011
Philippines UNION BANK OF THE PHILS 010419995
Philippines UNITED OVERSEAS BANK 010270189

At this point, if you still don't understand and know what is PayPal all about, you can always try to sign up first and as you go along, I'm pretty sure you will learn so many thing you didn't know possible with using this online payment gateway.

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