Bank Payouts / Payout formatting / Philippines

Philippines

Last updated: 14th July 2022

Basic information

Country code	PH
Supported currency	PHP
Scheme	Local: Minimum amount (local currency): 50 Maximum amount (local currency): 10,000,000 Settlement: T+0 same day (T+1 for payments greater than 50,000)

Payment information

Beneficiary information

Beneficiary type	The type of account holder. Set this to `individual`.	`account_holder.type` required enum
Beneficiary name	The account holder's first and last name.	`account_holder.first_name` required string
Beneficiary name	The account holder's first and last name.	`account_holder.last_name` required string
Beneficiary address	The account holder's address.	`account_holder.billing_address.address_line1` required string
		`account_holder.billing_address.address_line2` optional string
		`account_holder.billing_address.address.city` required string
		`account_holder.billing_address.address.zip` required string
		`account_holder.billing_address.address.country` required enum, 2 characters This must be a two-letter ISO code.

Bank details

Account number	The account holder's account number.		`account_number` required string, ^[0-9]16$
SWIFT BIC	The account holder's SWIFT BIC.		`swift_bic` required string, ^[a-z]6[a-z0-9]2([a-z0-9]3)?$

Beneficiary information

Beneficiary type	The type of account holder. Set this to `corporate`.	`account_holder.type` required enum
Beneficiary name	The account holder's company name.	`account_holder.company_name` required string
Beneficiary address	The account holder's adress.	`account_holder.billing_address.address_line1` required string
		`account_holder.billing_address.address_line2` optional string
		`account_holder.billing_address.city` required string
		`account_holder.billing_address.zip` required string
		`account_holder.billing_address.country` required enum, 2 characters This must be a two-letter ISO code.

Bank details

`Account number`	The account holder's account number.		`account_number` required string, ^[0-9]16$
`SWIFT BIC`	The account holder's SWIFT BIC.		`swift_bic` required string, ^[a-z]6[a-z0-9]2([a-z0-9]3)?$

Example

{
  "type": "bank_account",
  "account_type": "current",
  "account_number": "12345678",
  "swift_bic": "BRRLGTGC",
  "currency": "PHP",
  "country": "PH",
  "account_holder": {
    "type": "individual",
    "first_name": "John",
    "last_name": "Smith",
    "address_line1": "1746 Rizal Avenue",
    "address_city": "Manila",
    "country_code": "PH",
    "zip": "1550",
    "billing_address": {
      "address_line1": "1746 Rizal Avenue‬",                    
      "country": "PH",
      "city": "Manila",
      "zip": "1550"
    }
  }
}