How to Open a Freelancer USD Account in the Philippines with Wise

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If you’re working freelance in the Philippines, there’s a good chance you’re being paid in US dollars instead of PHP. However, receiving payments from US clients into a Philippine bank account can mean extra fees, as well as needing to keep hundreds of dollars in your account to meet minimum balance requirements. The Wise account can help.

This guide explains how to open a freelancer USD account so you can receive USD in the Philippines more easily, including how to get paid with no payment fee for ACH transfers.

Wise account features for freelancers: get paid like a local

The Wise account is a multi-currency account that supports 40+ currencies. It lets you:

• Hold money in different currencies
• Send and receive payments internationally
• Spend and exchange currencies conveniently

You can also generate local account details for 8+ currencies, including USD. This means you can receive payments in US dollars without needing to convert them back to PHP right away.

You can also receive payments in other supported currencies using local account details, depending on availability in your region.

Once you’ve set up your Wise account, you can unlock local account details for USD and any other supported currencies you need. You can then share these details with the person sending you money.

If you have a client in the US, you can give them:

• A US account number
• A routing number

This allows them to make a local ACH payment - treated as a domestic transfer for them, which is often cheap or free. There’s also no fee for you to receive the money into Wise.

Example of USD account details you can share with clients, including account and routing numbers.

How to use your Wise Account

You can open your freelancer USD account with Wise using just your phone, a local ID, and proof of address in the Philippines.

Once your account is set up, you can find your Wise USD account details and easily share them with clients who need to pay you. You can copy the details directly from your account to include in:

• Invoices
• Emails
• Secure messages

Your client can then pay you just like they would pay someone based in the US. You’ll receive the money in USD, and can choose to:

• Hold your balance in USD
• Convert it to PHP when it suits you

Conversions use the mid-market exchange rate with low, transparent fees.

You can also:

• Set a rate alert to track favourable exchange rates
• Use auto-convert to exchange currencies automatically

Once you’ve converted your balance to PHP, you can send it to a local bank like BDO or BPI or an e-wallet like GCash

You can also use your freelancer USD account to track your income more easily. Wise provides downloadable statements and transaction histories, which can help you stay organised and make reporting income to the BIR more straightforward.

How to open your Wise freelancer USD account

Ready to get started with your freelancer USD account? Here’s how to open a Wise account and get set up to receive, convert and spend your incoming USD.

Step 1: Sign up for a Wise freelancer USD account

As a freelancer in the Philippines, you can open a personal Wise account with no upfront fee. This allows you to receive, hold, send, spend, and exchange multiple currencies in one place.

To open your Wise account:

• Download the Wise app on the App Store or Google Play, or sign up on the desktop site
• Tap Sign up and follow the prompts to enter your personal and contact details
• Upload an image of your ID and proof of address, following the on-screen instructions

Your account will then be verified. This can happen instantly, or it may take a day or two. Verification is required to comply with regulations and keep your account secure.

Step 2: Open a USD balance and get your US local account details

Once you have your Wise account open you can open a USD balance and get your local USD account information including an account number and routing number. Here’s what to do:

1. Log into Wise online or with your phone
2. On your account home page, tap the plus icon
3. Tap the Add a currency option and pick USD as the balance you need
4. You’ll be prompted to add a small amount to your account (20 GBP - around 1,500 PHP). This is not a fee - you can spend the money as you choose later
5. Follow the prompts to upload a photo of your ID document and a selfie

Add a new currency, like USD, directly from your Wise account.

Select USD to open a balance and start receiving payments.

Your account will be verified and then your balance in USD is opened. The USD balance will be shown in your account home page, and you can then tap it to get your USD account details.

Step 3: Pass your USD account information to the payer

In the Wise app, you’ll find an option to share your USD account details. You can:

• Send them by email or messaging apps like WhatsApp
• Copy and paste them
• Download them as a PDF

You can include these details on your invoice or send them directly to your client. They can then set up the payment just as they would for someone based in the US.

Share your account details instantly via app, email, or downloadable PDF.

Step 4: Hold or withdraw to PHP anytime

Once you have a USD balance you can hold it, convert it, use it for card spending or to send to someone else. You’ve got the option to convert to PHP instantly, or whenever you spot a good exchange rate, and you can use the Wise conversion tools to get rate alerts and automatic conversion when the rates are good.

Once you have PHP in your account you can transfer from Wise to GCash, or make a payment from Wise to an account at a bank like BDO or BPI. Here’s how:

1. Log into your Wise account online or in the Wise app
2. Tap Send, then Add a recipient 3. Confirm PHP as the currency you want to send to and select Enter bank details 4. Select Bank or E-Wallet and then the specific wallet or bank you want to send to
3. Follow the prompts to enter the recipient’s account information and the amount
4. Select Send from your Wise balance 7. Confirm the transfer and the money is on the way

Get paid globally, manage your money your way

Freelancing means you can work with clients all over the world, for flexibility and to increase the range of opportunities available. And with Wise you can also get paid in 8+ currencies with local account details and no Wise incoming transfer fee. That means your money is as flexible as you are, with easy ways to convert, hold, send or spend depending on your needs.

🚀 Get started with Wise