Advisory on Wire Transfer Transactions of Foreign Merchants
Dear Valued Merchants:
We have received numerous reports on the inconsistencies of payment charges imposed by different foreign banks when making wire transfer transactions that involve payment of Registration fees for Blue and Platinum Memberships in the PhilGEPS.
The PhilGEPS would like to be able to process your membership upgrades more efficiently and without any delay, hence we would like to remind all merchants making payments via wire transfer or deposits in foreign exchange in foreign banks outside the Philippines to ensure that payments would reach the Landbank of the Philippines (LBP) Depository Account Name: PhilGEPS Supplier Registry and Account Number: 1442-2220-25 in the exact amount intended such as Three Thousand Pesos (PhP3,000.00) for Blue Membership or Five Thousand Pesos (PhP5,000.00) for Platinum Membership. Paying merchants should ask their banks to ensure that the exact amount is credited to the PhilGEPS LBP account and that bank charges are not deducted against the membership fees as indicated above.
Having been advised accordingly, the PS-PhilGEPS will no longer process payments in insufficient amounts.
For strict implementation.