Which banks Storspay pays in the Philippines, how fast the money lands, and the limits per payment

Short answer. Storspay pays any Filipino bank account on the domestic rail — BDO, BPI, Metrobank, UnionBank, Landbank, Security Bank, RCBC and the other BSP-supervised banks — by account number, over InstaPay or PESONet. Most payments land within minutes; the latest is the same business day. You need the recipient's name as it appears on the account, the bank and the account number; Storspay checks the name before you confirm. Large payments are split automatically under the local channel cap, under one reference and one fee.

What you need from the recipient

Three things: the account holder's name exactly as the bank has it, the bank, and the account number (with the branch or routing code where the bank uses one). Storspay verifies the account name with the bank before you confirm, so a typo stops the payment instead of sending it to a stranger.

Timing

Payments over InstaPay or PESONet usually land within minutes, around the clock. Larger amounts can take until the end of the same business day. Public holidays in the Philippines can delay a very large payment to the next working day; the status in Storspay tells you where it is at every step.

Mobile wallets

Storspay pays bank accounts in the Philippines today. Wallets are on the roadmap; in the meantime, nearly every wallet user also has a bank account you can pay.

What is different about the Philippines

The Philippines is the world's second-largest BPO market and the home of the virtual assistant: millions of Filipinos are paid every fortnight by companies in the US, Canada, the UK and Australia. They are used to being paid to a BDO, BPI or UnionBank account by InstaPay in minutes — and to losing several per cent of each payment to the platform or the bank in between. Storspay delivers pesos at the mid-market rate with the 1% shown separately, and a fortnightly run for a whole team is one batch, one fee line, one receipt.

How a payment to the Philippines works on Storspay

1. Fund your balance in USD (ACH or wire), CAD (Interac e-Transfer or EFT), GBP (UK bank transfer) or EUR (SEPA) — to account details in your own business name. Funding is free.
2. Add the recipient once: their name as it appears on the account, the bank (BDO, BPI, Metrobank, UnionBank, Landbank, Security Bank, RCBC and the other BSP-supervised banks) and the account number. Storspay checks the account name before you confirm.
3. Type the amount in either box. Enter what you want to send and see the pesos that land, or type the pesos figure on the invoice and see what it costs you. The rate is the mid-market rate; the 1% is on its own line.
4. Confirm. The money goes over InstaPay or PESONet and usually lands within minutes — the same business day at most. The recipient gets a notification with the exact amount, and you get a receipt with the invoice reference.

Nobody in the Philippines has to sign up, install an app or touch anything other than their own bank account. Everything on the recipient side looks like an ordinary domestic transfer.

What it costs

Storspay charges 1% all-in on payments to the Philippines, with a minimum of US$2, at the mid-market rate. That one line covers conversion, settlement and delivery; there is no FX markup, no intermediary-bank charge and nothing deducted on the recipient side.

Rates in this guide are the mid-market rate on the day of writing (1 USD = 62.8267 PHP); the calculator on the homepage shows today's. Large payments are split automatically under the local channel cap, under one reference and one fee.

See what your team in the Philippines receives →

Questions businesses ask before the first payment to the Philippines

What if the account name does not match?

Storspay shows you the name the bank returned and will not send until you fix the details or confirm the match. Most mismatches are a middle name or a company suffix.

Can I pay on a Saturday?

Yes. The domestic rail runs around the clock; most payments land within minutes seven days a week. Very large amounts may wait for the next business day.

Is there a minimum payment?

The fee minimum is US$2, which makes anything under about US$200 cost slightly more than 1%. There is no other minimum.

Can you pay GCash or Maya?

Not yet — Storspay pays Philippine bank accounts today, and e-wallets are on the roadmap. Most GCash and Maya users also hold a BDO, BPI, UnionBank or Landbank account.

How fast does a peso payment land?

Usually within minutes through InstaPay; larger amounts may route through PESONet and land the same business day.

Does the contractor pay anything on their side?

No. You pay 1% all-in (minimum US$2); the contractor receives the peso amount shown. Their bank does not charge for an incoming domestic credit.

Who this is for — and who it is not for

Storspay is for businesses and organisations: companies, agencies, schools, hospitals, facilitators, foundations and sole traders paying other businesses and professionals for work, goods and services. A sole trader counts as a business and signs up in their own name.

What Storspay is not is a personal money-transfer service. We do not open personal accounts, and every payment has to be a business transaction: an invoice, a contract, a fee note, work delivered. Money to family and personal transfers are not what this is, and we would rather say so now than at verification.