🇵🇭 Pay Suppliers in Philippines
Pay Philippine suppliers for electronics, garments, BPO services, coconut products
T+0 (2.3s avg within Unicorn network). Save 81% vs traditional banks.
What you need to send money to Philippines
What details do I need to pay suppliers in Philippines?
To pay suppliers in Philippines you need the recipient's SWIFT + Account or Peso Account (SWIFT/BIC or local peso account details), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to Philippines?
Payments to Philippines settle in an average of 2.3 seconds when using local rails such as InstaPay, compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to Philippines?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 81% versus banks (e.g. £505 vs £2725 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to Philippines
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 2.7% | 0.5% |
| Payment Fee | £25 | £5 |
| Total Cost (£100,000) | £2,725 | £505 |
| YOUR SAVINGS | N/A | £2,220 (81%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in Philippines
Avoid expensive SWIFT fees. We use local payment systems in Philippines for faster, cheaper settlement.
InstaPay
Philippines instant payment system for retail/SME
PESONet
Batch payment system for larger transfers
PhilPaSS
BSP RTGS for large-value corporate payments
Who Uses This Payment Corridor
Key Industries in Philippines
- Electronics
- Garments
- BPO Services
- Agriculture
- Food Processing
Average Transaction: £25k-£120k
Typical Monthly Volume: £180k-£1.8M
Popular Supplier Types
- Electronics assemblers (Cavite, Laguna)
- Garment factories (Metro Manila)
- BPO service providers (Makati, BGC)
- Food processors (Pampanga, Bulacan)
What You Need to Know: Philippines Payments
Regulatory Considerations
- Bangko Sentral ng Pilipinas FX regulations
- Bureau of Customs documentation
- VAT (12%) on imports
- BSP reporting requirements
Payment Tips for Philippines
- Philippines = Electronics manufacturing, BPO hub
- InstaPay fastest for PHP payments under ₱50k
- Metro Manila + Cebu = Main business centers
- English widely spoken - easy communication
Why Choose Unicorn for Philippines Payments
Local Rails, Not SWIFT
We use InstaPay and other local systems in Philippines. Avoid 3-4% SWIFT fees and 2-3 day delays.
81% Lower Costs
Save £2,220 on every £100,000 payment. On £180k-£1.8M monthly volume, save up to £66,600 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for Philippines payments.
Real-Time FX Tracking
Upload supplier invoices in PHP. See live P/L as GBP/PHP rates move. Lock rates for 15 seconds before committing.
£1,000,000+ Paying Suppliers in Philippines? Save 81%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to Philippines
For businesses with high annual FX volume. Not consumer transfers.