Payout/Settlement
Overview
Once your PayMongo account is activated at Tier 1 (Basic Account), 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 to Tier 2 (Fully Verified Account).
Use the table below to understand how payouts work for each account tier.
Tier Comparison
Feature | Tier 1 (Basic Account) | Tier 2 (Fully Verified Account) |
---|---|---|
Payout / Settlement | PayMongo Wallet | PayMongo Wallet or Business Bank Account |
Wallets | Manage and send funds to other PayMongo wallets. Cash in = ₱10k monthly Cash out = ₱50k monthly | Send funds to external banks and e-wallets via InstaPay and PESONet. Cash in = ₱15M |
⚠️ Bank Payout Requirements for Corporations
To receive payouts to your nominatedBusiness Bank Account, Corporations are required to submit a Duly Notarized Secretary’s Certificate .
✅ 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
- 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)
If documentary requirements are incomplete or missing, payouts may be placed on hold until all required documents are submitted and verified.
Updated 1 day ago