China Banking Corporation, commonly known as Chinabank, is one of the oldest and most respected financial institutions in the Philippines. Founded in 1920, it was the first privately owned local commercial bank in the country, originally established to serve the banking needs of Chinese Filipino entrepreneurs.
Key Highlights of Chinabank:
- Headquarters: Makati City, Philippines
- Branches: Over 648 nationwide with more than 1,000 ATMs
- Services:
- Personal and business banking
- Loans and credit cards
- Investment and trust services
- Insurance and stock brokerage through subsidiaries
- Digital Banking: Offers mobile and online banking platforms with upgraded user experience
- Recent Milestone: Celebrated its 105th anniversary with a renewed focus on customer-centric services
Chinabank is also recognized for its strong corporate governance and was named one of the Top 3 Publicly Listed Companies in the Philippines by the ASEAN Capital Markets Forum.
China Banking Corporation Swift Code
The SWIFT code for China Banking Corporation (Chinabank) in the Philippines is:
CHBKPHMMXXX
Here’s what it means:
- CHBK – Bank code for China Banking Corporation
- PH – Country code for the Philippines
- MM – Location code (Makati City, Metro Manila)
- XXX – Branch code (indicates the head office)
This code is used for international wire transfers and other cross-border banking transactions. If you’re sending money to Chinabank, it’s best to confirm the SWIFT code with the recipient or the bank directly, especially if you’re targeting a specific branch
What services do they offer?
China Banking Corporation (Chinabank) offers a wide range of financial services tailored to individuals, businesses, and corporations across the Philippines. Here’s a breakdown of what they provide:
Personal Banking
- Savings & Checking Accounts: Various deposit products including regular savings, time deposits, and high-yield accounts
- Loans:
- Home loans
- Auto loans
- Personal loans
- Credit Cards: Co-branded and Chinabank-issued cards with rewards and installment options
- Remittance Services: Domestic and international money transfers
- Insurance & Investment: Through Chinabank Insurance Brokers and Chinabank Securities
Business & Corporate Banking
- Business Loans: Working capital, equipment financing, and SME loans
- Cash Management Solutions: Payroll, disbursement, and collection services
- Trade Finance: Letters of credit, trust receipts, and export-import support
- Corporate Trust Services: Escrow, investment management, and retirement fund administration
Digital Banking
- Chinabank Mobile App: For fund transfers, bills payment, and account management
- Online Banking: Secure web platform for personal and business transactions
- ATM Network: Extensive coverage nationwide with over 1,000 ATMs
Investment & Wealth Management
- Trust & Asset Management: UITFs, portfolio management, and estate planning
- Stock Brokerage: Through Chinabank Securities for trading and investment advisory
International Banking
- Foreign Exchange Services
- Correspondent Banking
- Overseas Filipino Services: Tailored products for OFWs and their families
Chinabank is known for combining traditional banking reliability with modern digital convenience. If you’re considering opening an account or exploring their services, I can help you compare options or walk you through the process.
What is the process to open an account?
Opening an account with China Banking Corporation (Chinabank) is now easier than ever, thanks to their digital-first approach. You can choose between visiting a branch or applying online. Here’s how both options work:
Online Account Opening (via Chinabank START)
Chinabank now offers a fully digital onboarding process through its My CBC and My CBC Online platforms2:
Requirements:
- One valid government-issued ID (e.g., Passport, Driver’s License, PhilID)
- A selfie for identity verification
- Must be 18 years or older
Features:
- No initial deposit required
- No need to visit a branch
- Application processed within 2 banking days
- Account can be used for fund transfers, bill payments, and mobile reloads via the Chinabank Mobile App
You can download the Chinabank START app from the App Store or Google Play to begin.
Branch-Based Account Opening
If you prefer the traditional route, here’s what you’ll need:
Individual Requirements:
- Two (2) 1×1 ID photos
- At least one valid ID (PhilID, Passport, Driver’s License, etc.)
- Additional documents may be requested for verification
For Businesses:
- DTI or SEC registration documents
- Board or partnership resolutions
- Tax exemption certificates (if applicable)
Whether you’re opening a personal savings account, a business account, or something more specialized, Chinabank has streamlined the process to be as convenient and inclusive as possible.
Can I open an account if I’m under 18?
Yes, you can—but with a little help from an adult. If you’re under 18, Chinabank allows account opening through what’s called an In-Trust-For (ITF) account. Here’s how it works:
In-Trust-For (ITF) Accounts
These are savings accounts opened by a parent or legal guardian on behalf of a minor. The adult manages the account until the child reaches legal age (usually 18), at which point ownership can be transferred.
Requirements:
- Minor’s documents:
- Birth certificate
- School ID (if available)
- Parent/Guardian’s documents:
- Valid government-issued ID
- Proof of relationship (e.g., birth certificate showing parent’s name)
- Initial deposit: Varies by account type, often around ₱500–₱2,000
These accounts are great for teaching financial responsibility early or saving for future expenses like education or travel.
