Philippines

Bank account

Service specification

Type	Description
Direct to Bank method	Direct credit to bank account in Philippines Peso (PHP). Supported Beneficiary account type – Individual and Company. Supported Sender type - Individual and Company.
Transaction Turnaround Time	· Instant real-time * (Within 15 minutes). Transaction can be done on 24 x 7 basis (Highlighted in *Bold and Italic as below). · Instant real-time (Within 15 minutes). Transaction can be done on 24 x 7 basis (Highlighted in *Italic as below) for amount under PHP 50,000. · T+1 Philippines Banking day for transaction received before 12.00pm (Mon-Fri) GMT +8 for amount above PHP 50,000. · T+2 Philippines Banking day for transaction received after 12.00pm (Mon-Fri) GMT +8 for amount above PHP 50,000. . May take up to T+3 Philippines Banking day to complete refund process from rural banks (Highlighted in Underline as below*).
Area availability	Philippines nationwide
Account Verification	No Account Verification.
Amount received	Beneficiary received net amount as specified by Sender.
Transaction Limit	PHP Payout Maximum per transaction PHP 500,000 Minimum per transaction PHP 10.00 Compliance accumulated limit PHP 2,650,000 per day per Beneficiary USD Payout Maximum per transaction USD 10,000 Minimum per transaction USD 1.00 Compliance accumulated limit USD 50,350 per day per Beneficiary Transaction will be on hold for compliance review based on the supporting document should the sender or receiver has exceeded the compliance limit.
Maximum Beneficiary	No restriction
Service Charge	Transaction Fee will not be refunded once the Transaction is accepted by the gloRemit® Service System and submitted by the gloRemit® Service System to the Payout Channel.
Cancellation Process	Cancellation is on best effort basis.
Remarks
Do_Transfer bAccType Value	1

Supported bank

No	Name	Issuer Code	Instapay	Pesonet
1	Al Amanah Islamic Investment Bank	63175		✓
2	ANZ Bank	63184		✓
3	Asia United Bank	63102	✓	✓
4	Bangkok Bank Public Co Ltd	63187		✓
5	Bank Of America	63185		✓
6	Bank of China	63186		✓
7	*BDO Unibank*	63053	✓	✓
8	Bank of Commerce	63152	✓	✓
9	*Bank of Philippine Island (BPI)*	63153	✓	✓
10	*BPI Family*	63154	✓	✓
11	China Bank	63106	✓	✓
12	China Bank Savings	63107	✓	✓
13	Chinatrust Bank (CTBC)	63108		✓
14	CITIBANK (Philippines)	63109		✓
15	Development Bank of Philippines (DBP)	63189	✓	✓
16	Duetsche Bank	63190		✓
17	East West Bank	63112	✓	✓
18	Equicom Savings Bank	63140	✓	✓
19	First Consolidate Bank	63191		✓
20	HSBC	63134		✓
21	HSBC Savings Bank	63135		✓
22	Industrial Bank of Korea	63193		✓
23	ISLA Bank	63194	✓
24	JP Morgan Chase Bank	63196		✓
25	Land Bank	63144	✓	✓
26	KEB Hana	63195		✓
27	Malayan Bank	63197	✓	✓
28	Mega INTL COMML Bank Co LTD (ICBC)	63198	✓	✓
29	*Metrobank*	63116	✓	✓
30	Mizuho Bank Ltd (Fuji Bank)	63199		✓
31	Partner Rural Bank (COTABATO) INC	63202	✓
32	Philippine Bank of Communications (PBCOM)	63118	✓	✓
33	Phil Business Bank	63119	✓	✓
34	Philippine National Bank (PNB)	63132	✓	✓
35	Philippine Veterans Bank	63145		✓
36	Philtrust Bank	63117	✓	✓
37	Producers Savings Bank Corp	63178	✓	✓
38	Philippine Saving Bank (PS Bank)	63121	✓	✓
39	OmniPay Inc previously known as PVBCC	63200	✓
40	Rizal Commercial Banking Corporation (RCBC)	63124	✓	✓
41	Rizal Commercial Banking Corporation Savings Bank (RCBC)	63125		✓
42	Robinsons Bank	63126		✓
43	Security Bank	63127	✓	✓
44	Standard Chartered Bank	63205		✓
45	Sterling Bank of Asia	63161	✓	✓
46	Shinhan Bank	63203		✓
47	Sun Savings Bank Inc	63204	✓
48	Yuanta Saving Bank Phils Inc (FKA TongYang)	63209		✓
49	Union Bank of the Philippines	63041	✓	✓
50	United Overseas Bank Philippines (UOB)	63207		✓
51	Wealth Development Bank	63208	✓	✓
52	BDO NETWORK BANK	63159	✓	✓
53	MayBank	63133	✓	✓
54	BANK OF PHILIPPINE ISLAND (USD)	63238
55	BDO UNIBANK (USD)	63210
56	Metrobank (USD)	63182
57	Maya Bank, INC.	63239	✓	✓
58	Tonik Digital Bank	63240		✓
59	UNION Digital Bank	63241	✓	✓
60	CIMB Philippines	63242		✓
61	City Savings Bank	63155		✓
62	OWN BANK THE RURAL BANK OF CAVITE CITY INC	63243	✓	✓
63	GOTYME BANK CORPORATION	63244	✓	✓