PESONet Payments
in Philippines
BSP batch electronic funds transfer — processes up to 3 settlement cycles per business day.
PESONet in Philippines
Philippine Peso · PHP
Contractor must provide their Philippine bank account number and bank name.
Payment Journey
You fund in USD, stablecoin, or BTC — your contractor in Philippines chooses how they receive it.
Fund your Bitwage Balance
USD via wire/ACH/FedNow, stablecoin (USDC/USDT), or BTC. Fund once — use for all payments.
Create a payment run
Add your Philippines contractor(s) to a batch or individual payment. Set the amount in USD — Bitwage handles everything else.
Converts & delivers via PESONet
FX rate locks at approval. Bitwage converts USD → local currency and routes the payment via PESONet. Compliance screened automatically.
Funds arrive via PESONet
Settlement: Same day. Fees: 0.5–1%. Contractor can also choose USDC, USDT, or Bitcoin instead — they set their preference once.
How PESONet Works in Philippines
Bitwage submits payment instructions to PESONet before each cut-off window. The BSP clearing house settles the funds to the contractor's bank account, typically within the same business day.
Compliance & Security
Philippine contractors must comply with BIR income tax reporting for foreign-sourced income. Bitwage collects W-8BEN and performs OFAC screening on every payment.
The PHP is managed by the Bangko Sentral ng Pilipinas (BSP). Bitwage locks the USD/PHP rate at execution to eliminate intraday FX exposure for both payer and contractor.
Other Payment Methods in Philippines
PESONet in Philippines FAQ
Common questions about PESONet payments, settlement, fees, and requirements.
PESONet payments to Philippines typically settle in Same day. Bitwage locks your FX rate lock at execution time so recipients receive exactly the amount shown in the payment preview.
Bitwage charges 0.5–1% for PESONet payments to Philippines. There are no hidden per-transfer fees beyond the displayed rate. You can see the full cost breakdown before executing via our {{link:products/contractor-payments}} platform.
Contractor must provide their Philippine bank account number and bank name. Bitwage validates all payment details before executing. For batch payments to multiple contractors, use {{link:products/masspay}} to upload a CSV with all recipient details at once.
Yes. With {{link:products/masspay}} you can include any number of Philippines-based contractors in a single payment run, mixing PESONet with other local rails. All FX conversions are locked at batch payment processing execution time.
Related Resources
Start Sending PESONet Payments to Philippines
Settlement in Same day. Fees from 0.5–1%. OFAC screened on every payment.