Overview

PayMongo Wallet facilitates transfers through two interbank fund transfer networks in the Philippines: InstaPay and PESONet. Both incur a PHP 10.00 fee per transaction. However, you are allowed one free transfer per week.

InstaPay: Instant Transfers

InstaPay is an electronic fund transfer service that allows customers to send and receive real-time payments of up to PHP 50,000 per transaction, 24/7, including holidays.

Speed

InstaPay transactions are typically instant.

Transaction Status Update

While generally instant, please allow up to 20 minutes for the final status to reflect in your dashboard in case a transfer gets momentarily stuck in a pending state.

PESONet: Scheduled Transfers with Cutoffs

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Receiving Bank Processing

While PayMongo processes transactions by these times, the receiving bank or e-wallet may have its own processing schedule, which could affect when the funds are finally credited to the recipient's account.

PESONet is an electronic fund transfer service primarily for bulk payments or transactions without urgency, allowing larger transfer limits than InstaPay.

Processing Times & Cutoffs

PESONet transactions are processed in batches on banking days. Funds are generally credited on the same banking day if initiated before specific cut-off times.

PESONet Cycles

• 1st Cycle: Transactions made before 10:00 AM will be processed by 1:00 PM on the same banking day.
• 2nd Cycle: Transactions made before 1:00 PM will be processed by 4:00 PM on the same banking day.
• 3rd Cycle: Transactions made before 4:00 PM will be processed by 7:00 PM on the same banking day.

Non-Banking Days

Transactions initiated on a non-banking day (e.g., weekends or holidays) will be processed on the next banking day according to the above schedule.