In the Philippines, to complete your PayPal withdrawal, you will need to enter the name of your bank, your bank account number and the corresponding 9-digit bank code, which identifies your bank.
Official List of PayPal Philippines Bank Codes 2010
Philippine banks with Paypal bank codes: Allied Bank; Asia United Bank; BSP; Banco de Oro (BDO); Equitable PCIBank (same as BDO bank code); Bank of Commerce; Bank of the Philippine Islands (BPI); China Bank; China Trust; Citibank; Development Bank of the Philippines (DBP); Deutsche Bank; East-West Bank; Export Bank; Hong Kong and Shanghai Bank (HSBC); Landbank of the Philippines (Land Bank); Metropolitan Bank and Trust Co. (Metrobank); Philippine Bank of Communications (PBCom); Philtrust; Philippine National Bank (PNB); Prudential Bank; Veterans Bank; Rizal Commercial Banking Corporation (RCBC); Security Bank; Standard Chartered; United Coconut Planters Bank (UCPB); UnionBank of the Philippines (Unionbank); United Overseas Bank.
Personal note: Some banks when you asked, are still not familiar with paypal or even the 9-digit codes. They would normally answer you with their Swift code which is incorrect. Therefore, just create a savings account and wait for your withdrawn payment from PayPal.