PayPal just recently allowed Filipino users to withdraw their funds directly to their local bank account.

Pinoymoneytalk compiled a list of bank codes of some of the local banks.

Official List of PayPal Philippines Bank Codes

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
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 – 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