Your Business Account in the Philippines 🇵🇭

Q: What are the requirements to open a business bank account in the Philippines?

To open a business bank account in the Philippines, you generally need business registration a standard set of documents such as (SEC or DTI registration, Articles of Incorporation), valid identification documents of owners and authorised signatories, Tax Identification Number (TIN), Mayor's Permit or Barangay Clearance, and proof of address. Additional requirements may vary among banks.

Q: Can I open a Philippine business bank account as a foreigner?

Yes, as a foreigner, you can open a business bank account in the Philippines for a locally registered company. However, specific requirements and procedures may vary depending on the bank. Bear in mind that both personal and business account opening in the Philippines require personal presence.

Q: Can a foreign company open an account in the Philippines?

A foreign company must first establish local legal presence in the Philippines. The specific requirements and procedures may vary among banks.

Q: How hard is it to open a business bank account in the Philippines?

Opening a business bank account in the Philippines as a foreigner may involve paperwork and specific requirements, but with the necessary documentation and compliance, it is generally not overly difficult.

Open a business account to operate in Philippines without local presence. Get multicurrency IBAN to manage PHP, EUR, USD, GBP, and other currencies with ease.

Open account

A single solution to bank overseas

Be where your clients and partners are - With MultiPass multi-currency account do business with partners, clients and contractors both globally and in local markets. Hold, send & receive money in multiple currencies and convert only when needed, at great FX rates.

Within Philippines 🇵🇭

Account details:

IBAN (EU & global)

Currencies:

PHP

Supported payment networks:

SWIFT, PESONet*

Delivery time:

0-1 business day

*Available upon request on a case by case basis

The rest of the world 🌍

Account details:

IBAN (EU & global)

Account number & Sort code (UK)

Account & Routing numbers (US)

Currencies:

EUR, GBP, USD & 30+ currencies

Supported payment networks:

SWIFT, SEPA, SEPA Instant, Faster Payments, ACH, Fedwire, 10+ local networks

Delivery time:

0-2 business days

Reliable & transparent banking, designed for international business

Worldwide transactions

Transact in 30+ currencies across 180 countries. Get your own dedicated IBAN and local UK, EU & US accounts. Make fast multi-currency payments globally via SWIFT or local payment networks.

Wholesale FX rates

Perform live FX and move money between your own accounts with ease. MultiPass gives you access to wholesale exchange rates that guarantee significant savings versus traditional banks.

Business cards

Handle your daily corporate expenses easily with your own virtual and plastic payment cards. Order and manage your cards 100% online from your MultiPass business account.

Dedicated support

No bots or automated replies!
A dedicated banking expert that understands your business nature with help you out with any questions and ensure smooth delivery or your payments.

Digital onboarding

Onboard and manage your account entirely online, wherever you are. Our team will guide you through the onboarding so that you can be up and running within days, not weeks.

Trusted service

MultiPass is a UK-based FCA-authorised EMI. MultiPass is part of the Dyninno Group, an international holding with over 19 years of experience in the global market.

How to send money to Philippines 🇵🇭 with MultiPass

Convert your currency to PHP

Save on FX vs traditional banks. Hold PHP in your account and avoid unnecessary conversions.

Choose recipient in Philippines

Make a payment to their IBAN

From 0.50 GBP per payment

Your beneficiary receives the exact amount, with no hidden FX charges along the way

Pricing

Account opening

29-450 GBP

Account maintenance

29-250 GBP/month

IBAN + local UK, US details issuing

Free

Please note that pricing may vary from case to case. For more information, visit the pricing page.

Get paid in the currency your clients are used to

from 1 GBP

Share your account details with your overseas customers allowing them to pay you in EUR, USD & GBP locally and 30+ currencies globally.

Pay overseas staff cheaper & easier

from 0.50 GBP

Local payouts offer significant savings vs international SWIFT transfers, which is perfect for companies that regularly pay salaries to overseas contractors.