Banking in Philippines

Best banks in Philippines for expats & digital nomads

Opening a bank account is one of the first things you do after moving to Philippines. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.

How to open a bank account in Philippines

Foreigners typically need an ACR I-Card (for those staying beyond a tourist period), passport and proof of address; some banks accept an ACR I-Card plus secondary ID. Retirees under the SRRV use dedicated deposit arrangements.

Our top pick

Wise multi-currency account

Wise is the option we recommend for almost anyone moving to Philippines: hold and convert 40+ currencies, get local account details to be paid like a local, and send money at the real exchange rate with low, transparent fees. It works before you even arrive, so you can receive income and pay deposits while your local account is still being set up.

Open a free Wise account →

Affiliate link: we may earn a commission at no cost to you. Wise is a fintech, not a bank; balances are safeguarded, not covered by deposit insurance.