Send money from the Philippines to India
The Philippines and India sell the same services to the same clients, and just as often buy from each other. Offshore-services groups in Manila and Cebu pay Indian subcontractors, pharmaceutical importers pay manufacturers in Hyderabad and Ahmedabad, and the money has to land in rupees. Grey shows the USD to INR rate, fixes it, and credits the Indian bank account or UPI ID directly.
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Getting INR to India from the Philippines
This is not a household remittance corridor. Very little family money leaves the Philippines for India. What moves is commercial: an IT-services firm in Ortigas paying a development team in Pune, a Makati trading house settling an invoice for generics, a shipping manager paying an agent in Mumbai.
Grey quotes USD to INR in one step for senders in Manila, Quezon City and Cebu. The rupees land at SBI, HDFC Bank, ICICI Bank, Axis Bank, Punjab National Bank, Bank of Baroda or Kotak Mahindra Bank as a domestic credit, or reach a UPI ID through Google Pay, PhonePe or Paytm. Your recipient needs no Grey account.
How a transfer to India works
Sign up
A passport or PhilSys ID, about five minutes, and the account is open. It arrives with USD, GBP and EUR details for receiving money from overseas clients.
Fund
Send your Grey USD details to the overseas client who pays your Manila or Cebu operation. Their payment becomes the balance you pay India from.
Send
India takes either an account number with its IFSC code or a UPI ID. Enter one, read the INR figure, confirm.
What the transfer to India actually costs
The second number is the one that gets missed. A bank in Manila that quotes no fee on an Indian payment is usually taking its margin in the rate, and on a monthly vendor run that difference compounds across a financial year.
One conversion, USD to INR, priced on screen. What reaches HDFC Bank or ICICI Bank is the figure you approved.
The rupee figure is fixed when you confirm
The INR amount is locked at confirmation. Whatever the market does afterwards, the sum credited in India does not change.
For a contractor invoice denominated in rupees, that means you are not short at the other end and there is no second payment to cover a gap.
Why a bank wire from Manila to India costs more
A Philippine bank routes the payment through a correspondent, which takes its own cut, applies its own value date and often leaves the Indian beneficiary short of the invoice figure. Grey settles into the Indian banking system directly, so the amount agreed with your vendor is the amount that lands.
What the recipient sees in India
Rupees in an Indian bank account or a UPI-linked account, appearing exactly as a domestic payment would. Transfers from a funded Grey balance typically arrive within minutes, and the sender in Makati or Cebu sees the same confirmation in the app.
Bank credit
INR to SBI, HDFC Bank, ICICI Bank, Axis Bank, Punjab National Bank, Bank of Baroda and Kotak Mahindra Bank.
UPI delivery
A UPI ID works too, reaching Google Pay, PhonePe or Paytm.
GreyTag
If the recipient also uses Grey, GreyTag is instant and free.
Getting money onto Grey in the Philippines
There is no cash-in step here. BDO, BPI, Metrobank, UnionBank and Landbank hold pesos, and GCash and Maya handle daily spending, but Grey is funded by foreign currency arriving from your clients abroad.
Funded from abroad
Overseas payments in, not a peso top-up.
Three currencies
USD, GBP and EUR balances, all convertible to INR.
Convert on your timing
Hold the balance and convert when the invoice is due.
Check the IFSC code the first time you pay a new Indian vendor. Grey stores the recipient afterwards, so the next run is a few taps.
What Philippine senders pay India for
Subcontracted delivery
Manila and Cebu firms paying development, QA and analytics teams in Bengaluru, Pune and Hyderabad.
Pharmaceutical imports
Philippine distributors settling invoices with Indian generics manufacturers.
IT services and licences
Software work, support retainers and platform licences billed from Indian suppliers.
Crew and agency costs
Manning agencies and shipping managers settling agency fees at Indian ports.
The traffic on this route is business traffic. Two offshore-services industries that compete for the same contracts also subcontract to each other constantly, and on top of that sits a steady flow of trade payments.
Why this route runs better on Grey
FAQs
Can I pay an Indian vendor with a UPI ID from the Philippines?
Yes. Enter the UPI ID instead of an account number and the rupees reach your vendor through Google Pay, PhonePe or Paytm.
Which Indian banks can Grey pay from the Philippines?
SBI, HDFC Bank, ICICI Bank, Axis Bank, Punjab National Bank, Bank of Baroda and Kotak Mahindra Bank are among the banks supported.
How do I fund a Grey account in the Philippines?
Your clients abroad pay into your Grey USD, GBP or EUR details. There is no peso deposit from a Philippine bank.
How long does a payment to India take?
Transfers from a funded Grey balance typically arrive within minutes, landing in the recipient's Indian bank account or UPI-linked account.
Does my Indian subcontractor need a Grey account?
No. They receive rupees into their existing bank account or UPI ID and never have to sign up for anything.
Is the exchange rate fixed before I confirm?
Yes. The USD to INR rate and the fee are shown before confirmation, and the rupee figure is locked at that point.
Can a Philippine company pay Indian suppliers every month through Grey?
Yes. Save the Indian recipient once and each later payment takes a few taps, with the rate shown every time.
What details do I need to pay an Indian bank account?
The account number and the IFSC code. Check both the first time, after which Grey stores the recipient for you.
Is Grey a bank holding the dollars before they reach India?
No. Grey is a financial technology company, and your balance sits in USD provided by Lead Bank, GBP or EUR until conversion.
What does it cost to open a Grey account in the Philippines?
Nothing. Opening takes about five minutes and needs one valid identity document, such as a passport or a PhilSys ID.
Can I hold one currency and send India another?
Yes. Grey holds USD, GBP and EUR, and you choose which balance converts into rupees when the invoice falls due.
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