PHP
₱
Philippine Peso
Official currency of Philippines
ISO Country Code
PH
Decimal Places
2 / 4
Subunit
sentimo
Payment Methods Available
Payment Options
Available payment methods and requirements
Choose the right payment method for your needs
Standard Payment
Standard payment processingM | PESONet |
|---|---|
Cut-off Time (UK) | 16:00 |
D | Same Day |
M | PHP 1,300,000 |
D | Philippines |
Trace | Not Available |
Recall | Not Available |
Ultimate Payer Displayed | Not Available |
Required Fields
Field requirements for this payment methodRecipient Name
Recipient Address
Recipient City
Recipient Bank Code
BIC/SWIFT
Account Number
IBAN
Currency Holidays
Currency settlements pause on public or bank holidays.
Currency Holiday Calendar
Official non-business days for this currency- Nov
30
2025Bonifacio Day
In 8 daysSunday, November 30, 2025
- Dec
25
2025Christmas Day
In 33 daysThursday, December 25, 2025
- Dec
30
2025Rizal Day
In 38 daysTuesday, December 30, 2025
Account Format
Standards for account numbers and IBAN
Account Format & Structure
Standardised format for financial accounts with this currencyFormat Standards
| Format Type | Structure Pattern |
|---|---|
BBAN Basic Bank Account Number | BBBB-AAAAAAAAAA |
Example Accounts
| Account Type | Example Format |
|---|---|
B Bank Code | 010 |
B Branch Code | 123 |
A Account Number | 4567890123 |
B BBAN | 010-123-4567890123 |
Always double-check account formats before initiating payments to ensure successful transactions.
Additional Notes
Important information and special considerations
Special Considerations
Important notes and requirements for PHP paymentsPlease review these important notes before processing payments in PHP
1
Philippine Peso cannot be funded directly and must be bought via conversion from a supported currency (e.g. USD, GBP, EUR, AUD, CAD) before payout. You cannot fund them directly.2
Funds must be paid out immediately after conversion and can't be held in your wallet. FXellence may auto-convert surplus balances after 5 days.3
Local payments in Philippine Pesos do not support trace or recall functionality.4
Payments to charities or non-profits are currently not supported.5
For PHP payments, Instapay is used for amounts under PHP 50,000 to eligible banks, while PESONet applies to larger amounts or banks not connected to the instant scheme.6
Philippine Peso is a free-floating currency issued by Bangko Sentral ng Pilipinas.7
Non-ASCII characters will be transformed to ASCII equivalent or removed on a best endeavours basis in order to comply with the restrictions of the domestic payment scheme.
For more information about payment requirements for PHP, contact your account manager or refer to the latest regulations.
FXellence leverages a robust and secure payment infrastructure to deliver efficient international payment solutions for businesses worldwide.