How to receive money from abroad with UnionBank in the Philippines explained

If you have a UnionBank¹ account in the Philippines and you need to receive a payment from someone overseas, you’ll be wondering: can UnionBank receive money from abroad?

There are a couple of ways to receive a remittance at UnionBank - either right to your account if the sender uses a SWIFT transfer or similar, or for cash collection at a UnionBank remittance center, if your sender has the UnionBank app. This guide walks through your options to receive money from abroad with UnionBank in the Philippines.

Table of contents
Can UnionBank receive money from abroad? How many days does it take? How to receive remittances from abroad to your UnionBank account Fees for receiving money from abroad with UnionBank UnionBank receive money limits Receive money from abroad with the mid-market exchange rate using Wise Frequently asked questions

Can UnionBank receive money from abroad?

If you’re waiting for a payment you’re probably wondering can UnionBank receive international transfers, or perhaps more specifically can UnionBank receive USD, if you have a UnionBank USD account.

In both cases the answer is yes, as long as you have a UnionBank account which is eligible for inward remittances. If your sender has all the information needed to set up an outward remittance or wire with their own bank, they can send it to your account in UnionBank to be received in either PHP or USD, depending on the currency of your account. We’ll look at the information you need to give the sender in a moment, so the transfer goes smoothly.

The other option - if the person sending you money also uses UnionBank and has their app - is to have them send money to a UnionBank remittance center² instead. In that case there’s a fee for the sender to pay, but you may be able to pick up your money in cash somewhere close to home at a UnionBank agent. If you’re interested in this option you can check out the details on the UnionBank app or online, and suggest your sender consider this for their transfer.

How many days does it take to receive an international wire transfer to Unionbank?

So, how long does it take to receive an international wire transfer in UnionBank? The answer here is that it depends on several factors including where the sender is, the currency, and the value of the payment.

If your sender is not already a UnionBank customer themselves, they’ll probably set up the transfer to you using their own bank’s SWIFT transfer process. SWIFT is a popular payment network, which banks usually rely on for overseas payments. One downside is that it can be pretty slow - taking 3 to 5 days to process end to end transfers in some cases.

Ask your sender to check the likely delivery time with their own bank, so you know what to expect.

How to receive remittances from abroad to your UnionBank account - step-by-step

If the person sending you money is going to process the payment through their own bank using the SWIFT network, you’ll need to give them some information about your own account to make sure it can be deposited securely. The exact information required might vary based on where your sender is and the sender’s bank processes - but usually you’ll need:

• Your full name
• Your UnionBank account number and sort code
• The address of your bank branch (if required)
• The UnionBank SWIFT code: Get the UnionBank SWIFT code here.

If your sender doesn’t want to use their own bank they may also set up the payment online or in app with a third party service like Wise. Once the money is on the way, there’s nothing more for you to do. The payment will be deposited into your UnionBank account once it has arrived and been cleared by your own bank.

Fees for receiving money from abroad with UnionBank

Here are the usual fees for receiving an incoming remittance which is deposited to your UnionBank account. Fees might vary depending on your own account type, so do double check the details online or in app before your sender initiates the payment:

Remittance type	UnionBank receive fee³
USD to PHP	10 USD + 0.30 PHP in documentary stamps for every PHP 200 or fraction thereof
Third currency to third currency or USD	10 USD
Third currency to PHP	10 USD + 0.30 PHP in documentary stamps for every PHP 200 or fraction thereof

You can also get a payment through UnionBank’s remittance centers. Here fees may also apply, usually paid by the sender. The costs can vary depending on the specific remittance partner, so you’ll need to double check your options and the associated costs before you get the payment on its way to you.

UnionBank receive money limits

If you’re receiving a payment through UnionBank’s remittance centers the daily limits are as follows⁴:

• LBC, Cebuana and PeraHub - 20,000 PHP
• Palawan - 50,000 PHP

If your sender is sending you a remittance via SWIFT, the limits which apply may be set by their bank. These can vary depending on the specific bank and account they hold. To give an example, the outward remittance limit for UnionBank Philippines is 20,000 USD per day⁵. Your own UnionBank account might have SWIFT receive limits, which you can check online or in the UnionBank mobile app.

Receive money from abroad to the Philippines with low fees and the mid-market exchange rate with Wise

Try Wise to send PHP from abroad directly to your bank, with low fees for the sender and no receiving fee.

Ask the person sending you money to take a look at Wise, as an easy way to send payments to the Philippines online or in app. Your money will be deposited to your bank or preferred ewallet, and Wise currency conversion uses the mid-market exchange rate, and low, transparent fees². That can mean low overall costs and more in your pocket in the end.

Plus, many Wise payments arrive instantly - and 90% get to the recipient in under 24 hours⁷. That means your money could be ready to spend or withdraw in no time at all.

Send money to the Philippines with Wise

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Frequently asked questions

One final question about receiving money from abroad with UnionBank in the Philippines.

Can you receive US dollars directly with UnionBank?

Yes. If you have a USD savings account with UnionBank, other people can send you money for deposit in USD easily. Just give them the account number and relevant banking information for your USD account so they can send you their transfer.

Receiving money from abroad with UnionBank is usually straightforward as long as you have an eligible account in PHP or USD. All you’ll really need to do is gather your account information, pass it to the sender and wait for your money to arrive. Use this guide to get started, and if you end up with questions, check out the information available online and in the UnionBank app, or reach out directly to your local branch for more detailed information.

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Sources:

1. UnionBank
2. UnionBank remittance
3. UnionBank fees
4. UnionBank FAQ - receive remittance limits
5. UnionBank outward remittance