Philippines
Overview
| Payment method | Local | Local | SWIFT |
|---|---|---|---|
| Supported currency(ies) | PHP | USD | AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR |
| Payment Scheme | Instapay/PesoNet* | PDDTS/GSRT | |
| Flight time (business days) | 0-1 | 0-1 | 0-3 |
| Maximum transaction limit | No limit | No limit | No limit |
| Ultimate payer displayed | Yes | Yes | Yes |
* Note that if payouts > 50,000 PHP, the transaction will be processed via PesoNet with a flight time of 0-1 business days and Airwallex may request for further information.
Please refer to the sections below for the key required bank details and other considerations for each supported payment method.
Local PHP payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | Should be PHP |
account_name | 2-200 alphanumeric characters or punctuation only | Account holder name of the recipient’s bank account |
account_number | 8-16 digits | |
swift_code | 8-11 alphanumeric characters | Should be a valid and supported BIC-8 or BIC-11 code |
bank_country_code | 2-letter ISO 3166-2 country code | Should be PH |
Local USD payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | Should be USD |
account_name | 2-200 alphanumeric characters or punctuation only | Account holder name of the recipient’s bank account |
account_number | 8-16 digits | |
swift_code | 8-11 alphanumeric characters | Should be a valid and supported BIC-8 or BIC-11 code |
bank_country_code | 2-letter ISO 3166-2 country code | Should be PH |
SWIFT payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | One of AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR |
account_name | 2-200 alphanumeric characters or punctuation only | Account holder name of the recipient’s bank account |
account_number | 8-16 digits | |
swift_code | 8-11 alphanumeric characters | Should be a valid and supported BIC-8 or BIC-11 code |
bank_country_code | 2-letter ISO 3166-2 country code | Should be PH |