A new way for Filipino freelancers to receive US payments

A US virtual account now available to local users offers faster transfers, better rates, and fewer hurdles for cross-border earnings.

For many Filipino freelancers and gig workers, receiving payments from US clients remains one of the most challenging parts of remote work. Even with global platforms and digital wallets, cross-border transfers often pass through multiple intermediaries that slow down processing and increase fees. The pattern is common: work is completed within the agreed timeline, but the corresponding earnings may take days (or even weeks) before reflecting in a Philippine account.

These hurdles persist even as cross-border demand grows. The US consistently accounts for the largest share of remittances sent to the Philippines, with June 2025 alone recording $2.99 billion in inflows. Freelancers, content creators, remote workers, and small online entrepreneurs add another layer to this flow, especially as more global firms hire Filipino talent for project-based work.

Yet payments remain uneven. According to the Digital Dollar Project, sending money from the US to the Philippines can cost more than 4% per transaction, depending on the route. Delays are another issue, with some bank-to-bank transfers still relying on old correspondent systems that slow everything down.

At the same time, the Philippines is racing ahead in real-time payments. Nearly half of all electronic transactions in the country in 2023 already ran on instant payment rails. The Bangko Sentral ng Pilipinas also continues to push for digital systems that make cross-border payments faster and more affordable.

Fewer friction in receiving payments

It’s in this climate that a new partnership between RCBC and US-based payments network Meridian has introduced a US virtual account for local users, available through the bank’s Pulz app. While the industry has seen digital wallets attempt similar solutions, this setup stands out because users can receive payments from any US bank straight into a personal US account without needing an American address, social security number, or residency.

For freelancers who invoice American clients, the service could mean fewer rejected transfers, fewer verification issues, and easier billing. Once the funds land in the US virtual account, users can convert them into pesos at real-time rates and move them to their Philippine account instantly.

During the launch event, RCBC President and CEO Reggie Cariaso said the virtual account “makes it easier for freelancers, entrepreneurs, and families to connect their work and livelihood to the US without the usual barriers.”

Meridian co-founder and CEO Will Haering emphasized how the setup bypasses traditional correspondent banking costs. He said their infrastructure is built to comply The system conforms to U.S. consumer-protection standards and integrates fraud prevention and anti-money-laundering controls. 

“By partnering with RCBC … we’re creating a seamless, compliant, and secure bridge that lets Filipinos enjoy the same access, speed, and convenience that US-based users experience locally,” he said.

OTP-less transactions soon

The account has a $10,000 monthly aggregate limit, based on the bank’s internal guidelines. Funds sent from any US bank can be credited instantly once they pass through Meridian’s rails.

Security is a key concern, especially for digital cross-border solutions. RCBC’s chief innovation and inclusion officer, Lito Villanueva, noted that the integration takes advantage of RCBC’s existing customer verification systems (KYC), since users onboarded to Pulz are already vetted. 

On top of that, RCBC is rolling out OTP-less mobile transactions early next year, which they say will reduce fraud risk by eliminating one of the most exploited vectors.

Industry analysts note that this kind of setup could eventually expand beyond freelancing. With stable inflows from US payments, banks can layer additional services such as credit or insurance.

Expansion to other currencies in the pipeline

This also aligns with broader trends in ASEAN and APAC payments. While real-time payments are surging in the Philippines, the region as a whole is exploring integrated platforms that make cross-border transfers cheaper and more transparent. For its part, RCBC says it’s not limiting the innovation to US-to-Philippines flows because expansion to other currencies and regions is on the roadmap.

Still, the success of the initiative will depend on user adoption and trust. While support from regulators like the Department of Information and Communications Technology adds trust, customers will probably judge if this virtual account really helps them save time and money compared to regular banking or money transfer services.

For now, though, freelancers stand to benefit the most. Direct, instant payments from U.S. clients mean fewer delays, fewer extra costs, and fewer hoops to jump through. For gig workers who depend on predictable weekly cycles, that reliability can be just as valuable as the income itself.

 

 

With more Filipinos relying on freelance income from the U.S., a new digital setup aims to simplify the process of receiving payments, removing some of the delays, requirements, and costs tied to traditional channels.

 

 

READ: