When paying your VAs they typically care about three things: how much money they receive after fees, how quickly they can access it, and how complicated the process is.
A $500 payment through one method might net your VA $475 after fees and conversion. Through another method, they might receive $490 and after 3 working days later.
But beyond the numbers, understanding how the best ways to pay shows you care about their financial wellbeing.
When your VA receives salaries in full and quickly, that strengthens your working relationship and builds trust on another level. Here’s your best bets
Fintech Platforms Like Wise, Payoneer, and PayPal
Fintech platforms have become the default choice for many employers paying Filipino VAs. They’re faster than traditional banks and usually cheaper than wire transfers.
You send money from your bank account or credit card. The platform converts currency and deposits pesos directly into your VA’s bank account or digital wallet.
Most transfers complete within 1-2 business days.
Wise typically charges 0.5-1% of the transfer amount plus a small flat fee. For a $1,000 payment, expect to pay around $10-15 total. Your VA receives the money in pesos at the mid-market exchange rate.
The BSP regulates fintech platforms under strict anti-money laundering requirements. Your VA needs to verify their identity, which protects everyone involved but can delay initial setup.
The platform might request additional documentation for larger transfers.
Digital Wallets Like GCash and Maya
Digital wallets have exploded in popularity in the Philippines. Over 50 million Filipinos now use GCash or Maya for daily transactions.
Digital wallets offer immediate access to funds. No waiting for bank processing. Your VA can use the money the moment it arrives.
These platforms are fully regulated by the BSP and include robust consumer protections. They’re not fly-by-night operations.
Many Filipinos find digital wallets more convenient than traditional banks. Lower barriers to entry mean even VAs without full banking relationships can receive payments professionally.
Services like Wise and Remitly can send directly to GCash or Maya. Fees run similar to bank transfers, around 1-2% of the amount. Your VA pays minimal or no fees to receive the money.
Cryptocurrency
Cryptocurrency represents the newest option for paying Filipino VAs. Some VAs specifically request crypto payments, while others remain skeptical.
Cryptocurrency is legal for remittances and freelance payments in the Philippines. The BSP recognizes crypto as a legitimate payment method but doesn’t consider it legal tender.
You send Bitcoin, Ethereum, or stablecoins to your VA’s wallet address. They receive the crypto within minutes. They then convert it to pesos through a regulated Philippine exchange and withdraw to their bank account.
The entire process can complete in under an hour for stablecoins, though Bitcoin and Ethereum might take longer depending on network congestion.
Bitcoin and Ethereum prices fluctuate significantly. A $1,000 payment in Bitcoin might be worth $950 or $1,050 when your VA converts it an hour later.
Traditional Wire Transfers
Banks still process international wire transfers, though they’ve lost ground to newer methods. Your bank might charge $25-40 for the outgoing transfer. The recipient bank in the Philippines often charges another $10-20 as an incoming wire fee.
Currency conversion adds another layer of cost. Banks typically apply a 2-3% markup to the exchange rate. A $1,000 transfer might cost $75-100 in total fees and conversion costs.
Wire transfers work best for large, infrequent payments. If you’re paying $10,000+ quarterly, the percentage cost becomes more reasonable.
They’re also highly secure and have clear legal standing. Established businesses with significant compliance requirements often prefer traditional banking rails.
Choosing the Right Payment Method
The best payment method depends on your specific circumstances. Here’s how to decide.
For Regular Monthly Payments Under $3,000
Fintech platforms like Wise offer the best combination of cost, speed, and reliability. Your VA receives money quickly with minimal fees.
Digital wallet integration through GCash or Maya adds convenience for many Filipino VAs.
For Larger Quarterly or Annual Payments
Wire transfers become more cost-effective as payment size increases. The flat fees matter less when you’re sending $10,000.
Some employers split payments, using fintech for regular salary and wires for bonuses or large reimbursements.
For Tech-Savvy VAs Wanting Lowest Fees
Cryptocurrency, particularly stablecoins, offers the lowest transaction costs. Make sure your VA understands the conversion process and tax reporting requirements.
For Multiple VAs
Managing multiple payment methods becomes tedious. Standardizing one primary method simplifies your processes.
Many employers use platforms like Wise or Payoneer that can handle multiple recipients from a single account.
The Future of International Payments
Payment technology continues evolving rapidly. The OECD and IMF project that blockchain and fintech innovations will reduce international transfer costs by 60-85% over the next few years.
Instant settlement is becoming standard. The days of waiting 3-5 days for international transfers are ending.
The BSP continues modernizing Philippine financial infrastructure, making it easier for international employers to pay Filipino workers efficiently.
Expect more options, lower costs, and faster transfers. The competitive pressure between fintech platforms, traditional banks, and crypto solutions benefits everyone.
Making It Work Smoothly
Whatever method you choose, consistency matters. Pay on schedule. Communicate clearly about any changes. Keep documentation organized.
Most payment problems come from miscommunication or last-minute scrambling, not the payment method itself.
Set up your payment system before you need it. Test a small transfer first. Make sure your VA can receive funds and knows how to access them.
Building a reliable payment process takes initial effort but saves enormous headaches later. Your VA can focus on work instead of chasing payments.