Overview

Once your PayMongo account is activated, your funds will be automatically settled to your PayMongo Wallet. If you wish to transfer funds to external banks or e-wallets via InstaPay and PESONet, or receive payouts directly to your Business Bank Account, you'll need to upgrade your Business Type to a Registered Business via Payment Methods. Requesting Payment Methods

Use the table below to understand how payouts work for each account tier.

Business Type Settlement Comparison

⚠️ Bank Payout Requirements for Corporations

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Settlement destination is routed to your PayMongo Wallet by default. Please inform us if you'd like it routed to your designated Bank Account.

To receive payouts to your nominated Business Bank Account:

• Input the Bank Details via the Merchant Dashboard by navigating to the Settings Tab > Business Information > Bank Information.
• Submit a Duly Notarized Secretary’s Certificate

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Designated Bank Account Guidelines

Please take note that the designated bank account for payouts must be in the name of the corporation, partnership, or sole proprietor registered business name to avoid delays in your payouts. If you do not have either of these, we would like to offer you the option of using our PayMongo Wallets.

✅ The Secretary’s Certificate must:

• Authorize the person transacting on behalf of the company with PayMongo
• Confirm the official settlement account (must be a Business Bank Account — not a personal account)
• Be notarized. For Non-Philippine Entities: it should be the Notary Equivalent or Apostilled / Consularized
• Be signed by the Corporate Secretary or another board member
• Not be self-certifying. (If the Corporate Secretary is the authorized representative, the certificate must be signed by another officer or a notarized Board Resolution containing the authorized representative)

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If documentary requirements are incomplete or missing, payouts may be placed on hold until all required documents are submitted and verified.

Allowed Payout Destination Per Account Type

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Please take note that the designated bank account for payouts must be in the name of the corporation, partnership, or sole proprietor registered business name to avoid delays in your payouts. If you do not have either of these, we would like to offer you the option of using our PayMongo Wallets.