OCTIS vs best business account in the Philippines: UnionBank, BPI, Maya, Wise
Two banks, one digital payments business and one multi-currency account, side by side.
Last checked · 4 sources
Otty's short answer
We could not read UnionBank's or BPI's own fee pages, so their balance rules and monthly fees are marked Check current fee. Maya Business publishes payment rates, from 1% on QRPh. Wise Business states no subscription or monthly fees and suits foreign-currency transfers. One adviser says foreign-owned companies often find UnionBank's digital process quicker.
Side by side
Swipe to see every column
| What matters | OCTISHong Kong company + OCTIS global plan | UnionBank Biz Starter | BPI BizLink Checking | Maya Business | Wise Business |
|---|---|---|---|---|---|
| Opening deposit | Set by our licensed partner; quoted before you commit | Check current fee | Check current fee | Check current fee | None stated |
| Maintaining balance | Set by our licensed partner; quoted before you commit | Check current fee | Check current fee | Check current fee | None stated |
| Monthly fee | Set by our licensed partner; quoted before you commit | Check current fee | Check current fee | Check current fee | No subscription or monthly fee |
| InstaPay and PESONet | Set by our licensed partner; quoted before you commit | Check current fee | Check current fee | Check current fee | Not checked |
| Currencies | International multi-currency account via licensed partners | Not checked | Not checked | Not checked | 40+ currencies |
| Card acceptance rate | Collecting payments via licensed partners | Not checked | Not checked | 3.5% (+₱10 online) | Not applicable |
| QRPh rate | Set by our licensed partner; quoted before you commit | Not checked | Not checked | From 1% | Not applicable |
| Opening for foreign-owned | Hong Kong company, owners can live anywhere; account via licensed partners, subject to approval | Digital opening; adviser says preferred | Prefers established firms | Not checked | Not checked |
| Regulator | OCTIS is not a bank; accounts are with licensed partners | Bank (BSP) | Bank (BSP) | Not checked | BSP Type C EMI registration |
If you have staff, premises or local sales in this country, its own registration and tax rules still apply. OCTIS can help you arrange them.
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you sell in several countries and want a Hong Kong company with its multi-currency account, cards and CRM set up through one team.
UnionBank Biz Starter
Choose UnionBank if you want a digital opening, including for a foreign-owned company, and the fee schedule checks out.
BPI BizLink Checking
Choose BPI if you already bank with BPI or are an established local business that wants a checking account.
Maya Business
Choose Maya Business if you mainly collect QRPh, wallet and card payments and the sign-up terms suit you.
Wise Business
Choose Wise Business if you pay or receive in several currencies and do not need branches or cash.
What the table does not show
A bank account and a payments account are different
UnionBank and BPI are banks. Maya Business lists payment acceptance rates, with Maya QR and QRPh from 1% and cards from 3.5%. Wise Business is a multi-currency account with transfers at the mid-market rate. If you need a traditional checking account for cheques and loans, use a bank. If you only collect and pay, a digital account may do.
Foreign-owned companies
An adviser says foreign-owned companies need authenticated documents, a director present in many cases, and about 15 to 20 business days for bank verification, against 5 to 10 for local firms. The adviser describes UnionBank as preferred by foreign owners, BDO as selective, and BPI as preferring established firms. This is one source and may be outdated.
How current the figures are
Maya's rates and Wise's currency count and fee statement come from their own pages. UnionBank's and BPI's own product pages would not load, so we show no balance or fee figures for them. Confirm opening deposit, maintaining balance and below-balance fees with each bank.
Where OCTIS fits
OCTIS is not a bank and has no partnership with any bank or payments provider in the Philippines. Whichever account a Philippine entity opens, the Malaysian or Hong Kong parent still needs its books done. OCTIS bookkeeping can reconcile the parent's accounts and consolidate statements from the subsidiary. Ask about 10–30% off your current bill.
Frequently asked questions
What is the maintaining balance for a business account in the Philippines?
It depends on the bank and account. We could not confirm UnionBank's or BPI's figures on their own pages, so ask each bank for the current opening deposit and maintaining balance before you open.
Can a foreign-owned company open a business account in the Philippines?
Yes, with an SEC registration, articles, by-laws, a board resolution and IDs for signatories. Documents issued abroad need authentication. An adviser puts verification at 15 to 20 business days for foreign-owned firms.
Does Maya Business charge a monthly fee?
Maya's pricing page lists payment acceptance rates, from 1% for QRPh and 3.5% for cards, and does not mention a monthly fee. Confirm with Maya at sign-up.
Is Wise Business available in the Philippines?
Wise's Philippine page offers free registration and says Wise Pilipinas is BSP-registered. It supports 40+ currencies. Wise says receiving by local bank transfer has zero fees; see its pricing page for other charges.
Sources
Checked on the date above. Links open the provider's or regulator's own page.