Foreign Banks in the Philippines

Updated July 2020

There are 26 foreign banks in the Philippines as of July 2020.

24 branches operating as universal and commercial banks
(6 universal banks and 18 commercial banks)
 2 subsidiaries operating as commercial banks
—–
26 foreign banks

For account owners of Bank of America (BOA), JPMorgan Chase and Wells Fargo in the US, know that BOA and JPMorgan Chase here do only wholesale banking, and not consumer banking. They do banking only for corporations, government agencies and other institutions.

Wells Fargo does not have a branch here. It operates only a representative office. It does offer in the US a remittance service called ExpressSend for senders to the Philippines. Its partners are BDO, BPI, PNB, Metrobank, Cebuana Lhuillier and MLhuillier.

ANZ also does only corporate and investment banking here.

It’s Citibank that does consumer banking here. But it operates only a few ATMs in Metro Manila and in Cebu.

  • For ATM withdrawals, you can use your Mastercard/Cirrus/Maestro, Visa/Plus, American Express, or China Union Pay at other banks’ ATMs here for a withdrawal fee of 200 or 250 pesos. KFTC and NYCE cards can be used at Bancnet ATMs.
    Enter your desired amount in Philippine peso. What will come out of the ATM are Philippine peso bills.
  • For foreign cheque deposits, you must have a foreign-denominated account (your cheque’s denomination) here to be able to deposit a foreign cheque. Expect a clearing of around one month. There’s a deposit fee.
  • For US pensioners, you can open a Philippine-based Direct Deposit account here in the Philippines.
  • For UK pensioners, you can visit the nearest branch of Bank of Philippine Islands (BPI) and ask about opening a BPI account to receive your UK pension. This used to be a fast and easy process, but because of strict money laundering regulations in Europe, you now have to ask BPI first about their new policies regarding UK pension accounts.

Universal Banks which are Branches of Foreign Banks

  1. ANZ Banking Group Ltd. (from Australia)
  2. Deutsche Bank AG (from Germany)
  3. ING Bank NV (from the Netherlands)
    (formerly called Internationale Nederlanden Groep Bank NV)
  4. Mizuho Bank Ltd. – Manila Branch (from Japan)
  5. Standard Chartered Bank (from UK)
  6. Hongkong and Shanghai Banking Corp. (from Hong Kong)

Contact info for above banks here:
Branches of Foreign Banks in the Philippines — Universal Banks

Commercial Banks which are Branches of Foreign Banks

  1. Bangkok Bank Public Co. Ltd.
  2. Bank of America NA
  3. Bank of China Ltd. – Manila Branch
  4. Cathay United Bank Co., Ltd. – Manila Branch
  5. Chang Hwa Commercial Bank, Ltd. – Manila Branch
  6. CIMB Bank Philippines Inc.
  7. Citibank, N.A.
  8. First Commercial Bank, Ltd. – Manila Branch
  9. Hua Nan Commercial Bank, Ltd. – Manila Branch
  10. Industrial and Commercial Bank of China Ltd.
  11. Industrial Bank of Korea – Manila Branch
  12. JP Morgan Chase Bank NA
  13. KEB Hana Bank – Manila Branch
    (formerly Korea Exchange Bank)
  14. Mega International Commercial Bank Co. Ltd.
  15. MUFG Bank, Ltd.
    (formerly The Bank of Tokyo-Mitsubishi UFJ, Ltd.)
  16. Shinhan Bank – Manila Branch
  17. Sumitomo Mitsui Banking Corp. – Manila Branch
  18. United Overseas Bank Limited, Manila Branch

Contact info for above banks here:
Branches of Foreign Banks in the Philippines — Commercial Banks

Commercial Banks which are Subsidiaries of Foreign Banks

  1. CTBC Bank (Philippines) Corp.
    (formerly called Chinatrust (Phils.) Commercial Bank Corp.)
  2. Maybank Philippines, Inc.

*** CTBC and Maybank do consumer banking here.

Contact info for above banks here:
Subsidiaries of Foreign Banks in the Philippines — Commercial Banks

2 Other types of foreign banking companies in the Philippines:

Offshore Banking Units

2 Comments

  1. Werner Ebner 08/25/2017
  2. Unknown 08/03/2018

Leave a Reply