8 Best Payroll Accounts in the Philippines

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Business owners always have their to-do lists full. Aside from taking care of day-to-day operations and keeping up with the market that is constantly in flux, they also have to take care of payroll

Often, SMEs don’t have the time to look into the best available payroll accounts to help them manage and maintain this process.

With tons of payroll accounts in the Philippines, choosing the best one for your team can be a tricky task. This is why we’ve handpicked the best payroll accounts in the Philippines for small businesses, along with their features. But first, let’s take a look at what a payroll account is.

What Is a Payroll Account? 

This bank account is set up by business owners to manage the disbursements associated with payroll. So instead of managing all funds into one business account, business owners can create this account to pay the wages of their employees. 

Benefits of a Payroll Account

Still not convinced to open a payroll account? Take a look at these benefits.

It lessens confusion

One of the best reasons why businesses should set up this account is to separate all their payroll transactions from other expenses.

You may not realize this but payroll adds hundreds of extra transactions to your main bank account and this can make way for confusion.

It gives you control

All information related to your payroll account is confidential. Because only authorized people can manage your payroll account, it adds a layer of security to your company’s funds and even your employees’ data.  

It contributes to security

Aside from the security mentioned above, having a payroll account also protects your banking system. Think about it – your payroll account can be connected to your main bank account so you can pull money from your main account to fund your payroll as needed.

However, your payroll checks cannot be linked to the main account of your company.

It makes reconciliation faster and easier

Accounting reconciliation is hard work since it does not only involve one account. This task will become easier if the accountants only have to go between your payroll bank account, and the accounts to which you distribute funds. 

If you just keep your payroll in your main bank account, it can confuse your records. For example, you paid one employee using a check and if they did not encash that check, your bank statement will show that you have more funds than you do so you will have a skewed vision of your money. 

It provides consistency

When companies have a payroll account, they only need to deposit enough money each month to cover all wages. There’s no need for an overdraft because your expenses are predictable. 

The process can be automated

There are payroll accounts in the Philippines that come with a time-keeping system to help you easily manage everything in one account.

Aside from that, you can quickly download in-depth reports about your payroll.

Related: Best Bank Accounts for Business in the Philippines

How does a Payroll Account work?

As its name suggests, a payroll account is only meant for the wages of your employees. 

Considering this, you are not allowed to pay your suppliers from this account or use it for anything other than paying your team. 

Aside from wages, businesses can also use this account to cover employer contributions and tax liabilities.

After each payroll, companies print out a summary report for this account which includes key data such as deductions, gross wages of employees, taxes, and net wages. 

How to Set Up A Payroll Account In The Philippines

Are you finally ready to set up a payroll account for your business? This is such a huge milestone!

If this is your first time doing so, don’t be intimidated. Opening this account is easier than you think. 

To help you better understand this process, we will also discuss how to set up your company payroll before opening an account so the process will be more seamless.

Keep in mind that although payroll administration may seem complicated at first, the trick to making it easier is understanding the fundamentals. 

Step 1: Register with the BIR

Whether you have one or one hundred employees, you must register your company with the BIR. This will ensure that you’re accurately calculating and remitting taxes for your business.

Prepare to pay a fee for each certified copy of your business registration. 

Step 2: Create Payroll Process 

Having a consistent and structured payroll process is integral for all businesses. When establishing this, keep the following things in mind:

  • Schedule: Are you going to pay your employees weekly, every other week, or monthly? Most Philippine companies pay on the 15th and 30th, although you are free to choose any date. 
  • Employee type: Do you have part-time or full-time employees?
  • Benefits: What benefits will you offer your employees and how will you manage these deductions to their paycheck?
  • Taxes: How often do you need taxes, and what tax rates apply to your business? 
  • Time tracking: What is the best way to track working hours and how will it be reported to you? 
  • Processing and calculation: Will you be using payroll software, or simply excel?
  • Paychecks: How will you disburse payments to your employees? Are you going to write manual checks, pay in cash, use payment cards, or do direct deposits? More than that, you must also consider the payroll regulations that are stated in the Philippine Labor Code. You must also establish policies on the following:
  • Holidays: What holidays are paid? How much will your employees be paid on these dates?
  • Overtime: How much will you pay your employees for overtime work hours?
  • Absences: How will you track absences? What absences will be excused/unexcused?
  • Leaves: What are your rules on paid and unpaid leaves? What rates will you offer employees?
  • Benefits: What benefits are required by the government and how will you remit your payments?

Step 3: Determine Wages

Now is the time to determine how much you will pay employees. Factor in their skill level, and the cost of living in your area. The key is to offer them competitive rates.

Workweeks in the Philippines are usually 40 hours, and workers are required to have an hour of work break every day.

Meanwhile, overtime is allowed, but it is charged higher than the regular rate. Other laws you must consider include:

  • Retirement pay: Employees must retire once reaching 60 to 65 years old, and they must receive at least one-half of their monthly salary.
  • 13th-month pay: This is equivalent to one month’s worth of salary, and is paid to regular employees before December 24 each year. Part-time employees receive a portion of their salary as well. Keep in mind that this is not the same as holiday bonuses. 
  • Night shift differential: Employees who work from 10 p.m. to 6 a.m. must be paid more.
  • Paid leave: Companies are required to provide paid leave (such as vacation or sick leave). Employees who do not use up their leave credits must be paid for it. Leaves can also include paternity and maternity leave, leaves for solo parents, as well as gynecological leave, and leave for children and women who experienced domestic violence.
  • Social security system, Philhealth, and HDMF (PAG-IBIG): Workers must make these contributions. 
  • Holiday pay: These are meant for regular holidays such as Christmas. It also includes special non-working holidays which are usually based on regional celebrations and events.

Step 4: Set up Employee Information and Forms

Collecting employee data is the next step. This includes their name, address, work authorization, hire date, and bank account. You should also list their pay rate in their file.

Keep in mind that you must update this regularly, especially when employees get a promotion, or if their dependents change. 

Step 5: Calculate Payroll

The majority of companies in the Philippines use manual time sheets, although this is more prone to inaccuracy and misuse. As much as possible, use a Bundy clock, or time-keeping software. 

Step 6: Pay your Employee/s

Now, you’re finally ready to pay your employees and open a payroll account in your preferred bank. Regardless of which bank you choose, make sure to get your requirements ready. 

Bonus step: Document your records

You must keep detailed employment records for at least three years, as mandated by the Philippine Labor Code. This includes data on: 

  • Dates of employment
  • Frequency of pay
  • Total regular and overtime pay
  • Deductions
  • Rate of pay
  • Net employee pay

Best Payroll Account Providers in the Philippines

Here are the best payroll accounts you can open in the country.

Keep in mind that most accounts for employees do not have a minimum balance requirement.

Most details discussed (including interest rate, balance requirement, minimum balance to earn interest, etc) are for the business accounts required to open a payroll account, unless stated otherwise. 

1. Security Bank

Number of ATMs nationwide: 789+ (as of June 2021)

Interest rate: 0.10% (for SB BusinessPlus Account) 

Minimum balance requirement: P25,000 (for SB BusinessPlus Account) 

Opening balance: Php5,000 (for SB BusinessPlus Account) 

Balance to earn interest: Php100,000 (for SB BusinessPlus Account) 

What makes this payroll account stand out is it comes with insurance. This way, you can give your employees peace of mind. This account includes benefits up to Php100,000 for unforeseen events like Injuries (dismemberment and disability), as well as accidental death.

It also comes with a Family Assistance Benefit of Php25,000 to ease the burden of funeral expenses. As long as the ADB is maintained, this account does not charge any monthly or annual premium. 

Our favorite features:

  • Automatic insured to new and existing employees without filling up forms
  • Accelerated Php25,000 family assistance benefit
  • Up to Php100,000 for accidental death, accidental disability, and accidental dismemberment

Eligibility and requirements:

Sole proprietorships:


  • 1 photo-bearing primary ID/2 secondary IDs of partners
  • SEC Certificate of Registration
  • Articles of Partnership
  • Partnership Resolution


  • 1 photo-bearing primary ID/2 secondary IDs of the authorized signatory/ies
  • Secretary’s Certificate of Board Resolution;
  • Latest General Information Sheet (GIS) duly stamped and received by SEC
  • SEC Certificate of Registration
  • Articles of Incorporation
  • By-Laws

Unincorporated groups:

  • 1 photo-bearing primary ID/2 secondary IDs of the authorized signatory/ies 
  • Signed copy of Constitution and By-Laws
  • Group Resolution

How to apply for a Security Bank Payroll Account: 

  1. Open a Security Bank BusinessPlus Account.
  2. Request for a DigiBanker Kit here.
  3. Sign the Payroll Crediting Agreement, and the terms and conditions for the Group Accidental Insurance.   

2. UnionBank

Number of ATMs nationwide: 7,000+ cash in/out points

Minimum balance requirement: 

  • Php5,000 for BizStarter Account
  • Php100,000 for Business Check Account

Initial deposit: 

  • Php5,000 for BizStarter Account
  • Php100,000 for Business Check Account

For MSMEs who want to address their business needs, UnionBank provides tons of solutions, including a dedicated banking app. The only way to open a payroll account in Unionbank is to have a BizStarter or Business Check account

Through these accounts, your employees can get debit cards, EON prepaid cards, or Payroll and ePayCard for easy salary disbursement.

The Payroll and ePayCard do not require maintaining balance for employees, and funds can easily be accessed through any Visa ATM worldwide. These cards are also extremely convenient for online shopping and bills payment. 

Our favorite features:

  • Access to a dedicated app for MSMEs
  • Three card options for employees 
  • Easy online application
  • Business Check account comes with a free check writing software

Eligibility and requirements:

For BizStarter and Business Check accounts:

Sole Proprietorship


  • Articles of Partnership
  • Notarized Secretary’s Certificate
  • Partner’s Certificate and/or Partner’s Resolution
  • Notarized General Information Sheet
  • Company Logo (Optional)


  • Articles of Incorporation
  • Notarized Secretary’s Certificate
  • Board Resolution and/or Secretary’s Certificate
  • Latest General Information Sheet
  • Company Logo (Optional)

How to apply for a Unionbank Payroll Account: 

Apply for a BizStarter Account or a Business Check Account here

3. MetroBank

Number of ATMs nationwide: 2,300+

Interest rate: n/a

Minimum balance requirement: None for employees

With Metrobank Payroll Plus, business owners like you can easily manage and streamline your payroll operations. This comprehensive payroll bank account is designed for large and small businesses.

It allows you to migrate employee accounts in bulk or individually, process salaries using the MetroBank Business Online Solution or MBOS, and enjoy professional assistance when processing end-to-end payroll processing requirements.

Upon availing, MetroBank will give you 20 regular payroll accounts, or 50 paycards to use for salary disbursement. The paycards can be used for contractual employees and commissions. 

Our favorite features:

  • Comprehensive business support when it comes to payroll crediting and management,
  • Easy information migration 
  • Value-added functions such as exclusive employee benefits + retirement fund management
  • Unique ATM card for company branding
  • Access to MBOS

Eligibility and requirements:

  • Call Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an email to payroll.plus@metrobank.com.ph or customercare@metrobank.com.ph.

How to apply for a Metrobank Payroll Account: 

Visit a MetroBank branch near you OR contact payroll.plus@metrobank.com.ph

4. Maybank

Number of ATMs nationwide: 90+

Interest rate: n/a

Minimum balance requirement: n/a

Small and large business owners who want to meet all their needs can open a MayBank Business Checking Account.

For payroll needs, entrepreneurs can avail of Maybank’s Payroll Master which will allow them to open individual payroll accounts for employees. This system also formulates basic government reports and payroll processes. 

Our favorite features:

  • Maybank’s Payroll Master can formulate basic government reports and payroll processes
  • Services from other bank’s payrolls can be integrated
  • It comes with a multi-level access system for improved confidentiality, control, and security
  • Compatible with automated time-monitoring system

Eligibility and requirements:

  • Memorandum of Agreement (duly signed) for all types of businesses
  • Windows 98 or higher for the system

Single Proprietorship:

  • Certificate of Registration of Business or Trade Name issued by DTI


  • Certificate of Registration of Partnership issued by SEC
  • Articles of Partnership and By-Laws
  • List of Partners
  • List of Beneficial Owners, if any
  • Notarized Partnership Resolution authorizing the Partnership to open an account designating Maybank Philippines, Inc. as depository bank and appointing the authorized signatory/ies thereto
  • Mayor’s Business Permit for the current year 


  • Certificate of Registration issued by the Cooperative Development Authority
  • Articles of Cooperation and By-Laws
  • Secretary’s Certificate of the duly elected officers of governing body / committee of the Cooperative
  • Notarized Certificate of the Cooperative Resolution designating Maybank Philippines, Inc. as depository bank and appointing the authorized signatory/ies thereto.


  • For Resident Domestic & Foreign Corporation-Certificate of Registration of incorporation issued by SEC
  • For Non-Resident Foreign Corporation – License to do business in the Philippines issued by SEC
  • Articles of Incorporation and By-Laws
  • Secretary’s Certificate of Incumbent Officers
  • List of Directors
  • List of Principal Stockholders owning at least two percent (2%) of the capital stock
  • List of Beneficial Owners, if any
  • Notarized Secretary’s Certificate of the Board Resolution authorizing the Corporation to open an account designating Maybank Philippines, Inc. as depository bank and appointing the authorized signatory/ies thereto
  • Mayor’s Business Permit for the current year 

Treasurer-in-Trust (TITF):

  • Articles of Incorporation and By – Laws
  • Notarized affidavit / agreement of the company directors / incorporators designating the Treasurer-In-Trust and authorizing the opening of the account for the corporation with Maybank Philippines, Inc. 

How to apply for a Maybank Payroll Account: 

Visit a Maybank branch near you OR email mpi@customerservice@maybank.com, or call (02) 7739-1655. 

5. BPI

Number of ATMs nationwide: 2,700+

Interest rate: n/a

Minimum balance requirement: none for employee accounts

Through BPI Business Banking, businesses can enjoy solutions that will help them reach their full potential. 

BPI also has an online payroll facility that helps employers not only pay the salaries of employees, but also give them allowances, and commissions, and manage their benefits. This can be enjoyed by employees through a deposit account, or a prepaid card. 

When business owners open a funding account, automatic debiting is processed to credit wages to the accounts of employees. All employers need to do is upload a file on the BPI ExpressLink Site containing the card numbers of employees, as well as the amount of payout they will receive.

This should be done seven days before the due date. After this, the system will be in charge of transferring the funds from the main account to each payroll account/prepaid card.

Our favorite features:

  • Easy tracking
  • Downloadable reports 
  • Data encryption for more secure transactions
  • Tons of ATMs worldwide 
  • Payroll accounts can be used as regular deposit accounts

Eligibility and requirements:

Sole proprietorship:

  • DTI Registration


  • Secretary’s Certificate (download here


  • Partnership Resolution (download here)

How to apply for a BPI Payroll Account: 

  1. Open a savings or current account for your business.
  2. Sign the BizLink Onboarding Consent Form here and bring your requirements to any BPI branch or email the scanned copy of the documents to apply.bizlink@bpi.com.ph.
  3. Wait for your System Administration credentials to be processed within one banking day.
  4. Activate user access. 
  5. Submit needed documents to 3F BPI Buendia Center, Sen Gil Puyat Ave, Makati City to complete the enrollment of your BizLink transactional facilities within 30 calendar days.

6. BDO

Number of ATM machines nationwide: 4,400 +

Interest rate: 0.375% (for employee account)

Minimum balance requirement: None (for employee account)

Minimum balance to earn interest: P5,000 (for employee account) 

BDO launched the Cash Management Package that allows MSMEs to enjoy its cash management services through bundled products including payroll, corporate internet banking, and check disburse.

Payroll products can either be regular savings accounts or cash cards that businesses can use to automatically prepare their payroll. 

Keep in mind that to be eligible for BDO’s cash management service, you must have an average daily balance of at least Php500,000 for your business account. 

Our favorite features:

  • Tons of ATMs worldwide
  • Great for large businesses
  • Automatic payroll 
  • Additional services for check disbursement
  • Access to corporate internet banking to upload payroll, transfer funds (even to a third-party account), and even settle BIR and SSS bills 

Eligibility and requirements:

Visit a branch near you, call (02) 8631-8000, or email callcenter@bdo.com.ph to request for the requirements.

How to apply for a BDO Payroll Accounts: 

  1. Open a Peso or Checking Account and maintain the ADB. 
  2. Ask for a data sheet from any BDO branch, and sign the memorandum of agreement.
  3. Submit a secretary’s certificate or board resolution. 


  1. Sign up here

7. LandBank

Number of ATMs nationwide: 2,810+

Interest rate: n/a

Minimum balance requirement: 

  • No minimum ADB for companies with less than 100 employees
  • Php500,000 for companies with more than 100 employees

LandBank weAccess is used to make banking transactions online. Aside from Peso deposit account, it is also meant for corporations and government entities, including: 

  • GovernmentOwned and Controlled Corporations
  • National Government Agencies (NGAs)
  • Local Government Units (LGUs)
  • Private Corporations
  • Financial Institutions
  • Cooperatives
  • Small and Medium Enterprises
  • Development Partners
  • Educational and Health Institutions
  • Religious and Charitable Organizations
  • Sole Proprietorship

Our favorite features:

  • VeriSign Digital Certificate website authentication and certification
  • 128-bit Secure Sockets Layer and multiple firewall technology 
  • Secure two-factor authentication and authorization
  • Automatic log-out of users on idle time of 15 minutes.
  • Easy file upload using FinDES for payroll
  • Downloadable reports

Eligibility and requirements:

  • Notarized Board Resolution or Secretary’s Certificate, for institutions with a Board of Directors
  • Sangguniang Resolution, for LGUs
  • Letter from the Head of Agency/Office, for NGAs

How to apply for a Landbank Paytoll Account: 

  1. Sign up for a business/corporate LandBank account. 
  2. Visit a branch near you and require assistance to sign up for weAccess. 
  3. Assign a Maker, or a person with access to the deposit account, and an Authorizer, or a person with access to the account and has the authority to implement transactions initiated by the Maker. 

8. Robinson’s Bank

Number of ATMs nationwide: n/a

Interest rate: n/a

Minimum balance requirement: n/a

For payroll needs, Robinson’s Bank offers Payroll and Timekeeping, a payment suite that automates and simplifies your entire payroll processing process – from timekeeping management, up to payroll crediting. 

The way this works is when an employee times in/out, a payroll run is initiated in the system, then a file is generated. This is uploaded in Robinson’s Bank’s e2Banking for crediting. Finally, the employee can receive his/her pay. 

Robinson’s Bank also offers Payroll Payout, which is a complete payroll payout system that includes batch account opening to real-time crediting. Business owners can do a batch or bulk opening of employee accounts, and upload a payroll file via e2banking.

Finally, employees can enjoy online and real-time payroll salary credits to their ATM cards. 

Our favorite features:

  • End-to-end payroll computation functions (for Payroll and Timekeeping)
  • Biometrics integration to timekeeping system (for Payroll and Timekeeping)
  • Comprehensive reports 
  • Online and real-time payroll crediting to employee ATM cards

Eligibility and requirements:

  • Payroll Payout Addendum
  • CMS Mother Agreement
  • E2Banking Enrollment Form 

How to apply for a Robinsons Bank Payroll Account: 

  1. Visit the nearest Robinson’s Bank branch in your area. 
  2. Submit your documents.
  3. Wait for the processing and approval.

Payroll Account FAQs

Still got questions about payroll accounts? We’ll answer them below. 

What happens to a payroll account after resignation? 

Banks usually have different policies, but most will close the account when it has not been used for months.

Other banks may also convert the payroll account into a regular savings account, which requires the holder to maintain balance (usually Php2,000 to Php3,000). Keep in mind that generally, banks will keep the account active and wait for the owner to inquire about it.

What is the difference between a payroll account and a savings account? 

A payroll account is where an employee’s salary is credited. This is usually opened by companies on behalf of their employees. That account can be closed by the company anytime they wish, particularly when the owner of the account has resigned.

On the other hand, a savings account is not opened by companies on behalf of employees.
These two bank accounts also have different requirements. For example, most payroll accounts do not require a maintaining balance, and all its maintenance fees are shouldered by the employer.

Most ATM accounts also do not permit over-the-counter cash deposits, check deposits, and foreign remittances. 

How can I convert a payroll account to a savings account? 

For some companies, they will require you to surrender your payroll account ATM to them. This means that your account will also be canceled by the company. Some companies will also ask you to go to the bank and close your payroll account. 

If this doesn’t apply to you, the best thing to do is to visit a branch and ask them to change your account from payroll to regular savings. Bring a valid ID, and a document that proves your address. You may also ask your old company’s accounting department what you can do to change your account type. 

There are banks (such as BDO and BPI) that automatically convert your payroll account to a savings one as soon as your name is not on the payroll list anymore. Keep in mind that if this happens, you are required to have a maintaining balance for your account. If your funds go below the required balance, you will be fined. 

About MJ de Castro

MJ de Castro is the lead personal finance columnist at Grit PH.

MJ started her career as a writer for her local government’s City Information Office. Later on, she became a news anchor on PTV Davao del Norte.

Wanting to break free from the shackles of her 9-to-5 career to live by the beach, she pursued remote work. Over the years, she has developed a wide specialization on health, financial literacy, entrepreneurship, branding, and travel.

Now, she juggles writing professionally, her business centering on women’s menstrual health, and surfing.

Education: Ateneo de Davao University (AB Mass Communication)
Focus: Personal Finance, Personal Development, Entrepreneurship, & Marketing

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