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Philippines
| Type | Description |
|---|---|
| Direct to Bank Method |
Direct credit to bank account in Philippines Peso (PHP)
Supported sender type - Individual and Corporate. Supported beneficiary type – Individual and Corporate |
| Transaction Turnaround Time |
Instant real-time * (Within 15 minutes). Transaction can be done on 24 x 7 basis for amount under PHP 50,000
T+1 Philippines Banking day for transaction received before 12.00pm (Mon-Fri) GMT +8 for amount above PHP 50,000 T+2 Philippines Banking day for transaction received after 12.00pm (Mon-Fri) GMT +8 for amount above PHP 50,000 May take up to T+3 Philippines Banking day to complete refund process from rural banks Subjected to Singapore office timing and funds being received |
| Area availability | Philippines nationwide |
| Account received | Amount received Beneficiary received net amount as specified by sender |
| Transaction Limit |
PHP Payout
Maximum per transaction PHP 500,000.00 Minimum per transaction PHP 10.00 Compliance accumulated limit PHP 2,650,000.00 per day per beneficiary USD Payout Maximum per transaction USD 10,000.00 Minimum per transaction USD 1.00 Compliance accumulated limit USD 50,350.00 per day per beneficiary Transaction will be on hold for compliance review based on the supporting document should the sender or receiver has exceeded the compliance limit |
| Service Charge | Transaction fee will not be refunded upon submitted to the banks |
| Cancellation Process | Cancellation is on best effort basis |
| Type | Description |
|---|---|
| Cash-out Method |
Cash pick up Philippines Peso (PHP) at any supported outlets
Supported sender type - Individual and Corporate. Supported beneficiary type – Individual |
| Transaction Turnaround Time |
Within 15 minutes
Subjected to Singapore office timing and funds being received |
| Transaction Working Hours |
Business hours: Operating hours for all available cash-pickup locations differ, however normal business hours 9am – 6pm Monday – Saturday is generally available
There are 200 selected outlets in Philippine Major Cities that operates 24 x 7. |
| Area availability | Philippines nationwide |
| Validation / Verification | Beneficiary to provide valid ID, Unique Transaction Number, Sender’s Name, Amount to be received and “Millenning” as sender entity / company / service provider |
| Amount received | Beneficiary to be received the payout in the nearest PHP 10.00 |
| Transaction Limit |
Maximum per transaction PHP 50,000.00
Minimum per transaction PHP 10.00 |
| Service Charge | Transaction fee will not be refunded for cancellation |
| Cancellation Process | Cancellation is on best effort basis |