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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 500,000.00 per day per beneficiary

USD Payout
Maximum per transaction USD 10,000.00

Minimum per transaction USD 1.00

Compliance accumulated limit USD 10,000.00 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