May 25, 2016 (1 year ago)

How To Do Business with Coins.ph


Coins.ph is an online concierge service for

  • payment of bills to 50+ companies
  • loading of cellphone pre-paid loads
  • sending money

Given that anyone can do all these things with an internet connection and a computer or mobile device, it empowers any Filipino citizen to provide bills payment and cellphone load services to others as a full-time or sideline business. You can use either the website or mobile apps for Andoid and iOS to do the transactions anywhere in the Philippines.

This article outlines the steps on how to use Coins.ph. It lists down all providers involved in the funding, payment and cash out flow. There is no guarantee that the system works smoothly as hoped but encourages you to give it a try and provide feedback.

The 4 Steps

The steps can be summarized this way:

Step 1. Get started by signing up at Coins.ph

Step 2. Load your virtual wallet through bank deposit or at designated payment/remittance centers.

Step 3. Using your loaded wallet, start paying bills, sending money and buying prepaid loads as a service to real customers through the browser or mobile app. (By converting to the BitCoin denomination, you can also use your wallet to make purchases at international online stores with the BitCoin payment option.)

Step 4. Cash out your earnings.

Step 1. Sign Up.

Do I Have to Use My Real Name?

It might be a good idea to use your real name since it is needed when claiming cash. Not giving the real name disables you from claiming cash since real name identification is always necessary. Since you are unable to verify your real identity, it also limits to P2,000 the amount of cash that you can deposit to your wallet per day.

Step 2. Load your wallet.

How Much Money Do I Need to Spend and Get Started?

Before you can make any transaction, you need to have some capital (puhonan). You can start with as low as P100 just to try out how the process works. You put your capital into your Coins.ph wallet. Wallet here means your user account at Coins.ph. This is much like adding funds to a PayPal account, which you can use to make purchases online.

Coins.ph imposes several levels of trust to its customers by limiting the amount of money that you can deposit on your wallet and spend everyday. Upon sign up, the basic limit for funding or cashing out your wallet is P2000 per day and you can only fund or cash out up to P50,000 per year. Aside from trust, this is also to comply with local rules and regulations.

To get around the limits while remaining at a low level, you can consider doing business as a group, distributing the limited funds and payment requests allowed accross multiple Coins.ph accounts held by the members.

If you are doing business in solo and wish to deposit more than P2000 in one day, you can “level up” by verifying the following identifying information:

  • Level 2. Identity Verification + Selfie Verification
    Required for cumulative deposits and cash-outs of more than 50,000 PHP and allows you make up to 10 payment transactions per day only. Processing time: 1-3 business days. Aside from uploading a copy of your ID, the following information is asked:
    • Full Name
    • Birth Place, Birth Date and Nationality
    • SSS/GSIS or TIN
    • Source of Funds
  • Level 3. Address Verification
    Required for cumulative deposits and cash-outs of more than 400,000 PHP and allows you to make up to 20 payment transactions per day only. Aside from giving out the full address, a digital copy of any of the following documents is asked to be uploaded:
    • Credit Card Billing Statement (within the last 6 months)
    • Utility Bill (water, electricity, cable, phone - within the last 6 months)
    • Mobile Phone Bill (within the last 6 months)
    • Barangay Clearance / Barangay Certification of Residency
    • Income Tax Return
    • Mail from a University, Government Institution or Embassy
    • Transcript of Records (within the last 6 months)
  • Level 4. Business Verification
    Opening a corporate account with Coins.ph requires you to have a legitimate business entity. Your application will be reviewed within 1-3 business days.
    A business account enables you to make 100 payment requests per day. However, there is a 1.5% ~ 2.5% transaction fee. If you wish to have unlimited payments per day, you must contact Coins.ph. All applications for special limits are carefully reviewed by compliance officers and can take up to 4 weeks.
    Since you are using the account for business services, accepting funds from customers, you are required to go through the business verification in order to follow BSP circulars and abide by the local AMLA legislation. The following documents are required:
    • Company Registration
    • Secretary Certificate
    • Directors & Major Shareholders

Where To Pay in Order to Load/Fund Your Coins.ph Wallet

There are several ways to pay Peso money for your Coins.ph account. Just choose whichever is most convenient or which is fastest (The list is arranged according to processing time). There is a cash-in fee applied to some of the deposits.:

  • 7-Eleven coinsXpress Instant deposit
    Instant Processing time: Load your Coins.ph wallet instantly at any 7-Eleven store in the Philippines. This option is available 24/7.
  • Globe Gcash coinsXpress (via Dragonpay)
    Instant Processing time. Pay via GCASH transfer. Available for orders between PHP15 and PHP20,000. Bank Cash Deposit
    Processing time: Within 24 hours. BDO, BPI, ChinaBank (via DragonPay), MetroBank over-the-counter (via DragonPay), SecurityBank, UnionBank
  • Online Bank Transfer
    Processing time: Within 24 hours. BDO Online Banking, BDO Online Banking (via DragonPay), BPI Express Mobile Banking, BPI Express Online, Security Bank Online, UnionBank of the Philippines Online Banking
  • ATM Deposit
    Processing time: Within 24 hours. Only BDO 24-hour ATM Deposit is available. deposit exact amount at any BDO cash-accepting ATM. For a limited time, enjoy a cash-in fee rebate of P10 to P40 when you add money to your peso wallet with BDO.
  • Remittance Center
    Processing time: Within 24 hours. Cebuana Lhuillier PeraPal via DragonPay, Bayad Center via DragonPay (48 hours max processing time), LBC Bills Xpress via DragonPay (48 hours max processing time), M Lhuiller ePay coinsXpress
  • Department Store
    Processing time: Within 48 hours at Robinson's Business Center via DragonPay, SM Payment Center via DragonPay

General Payment Procedure

This applies to payment methods with processing that are not instant.

  1. Login to your account at Coins.ph.
  2. Click Add Money tab.
  3. Select a payment method. Click Next Step.
  4. Specify or select an amount.
  5. You will be given the bank account information to deposit to. If your payment method is for a remittance center, an order reference number may be given.
  6. Print and take the given information with you to the bank, ATM or remittance center, whichever applies. For the 7-Eleven store, inform the cashier that you have a 7-CONNECT reference number, and pay.
  7. After making the deposit or payment, log back in and click Mark as Paid the order that you previously made. Enter the Payment Confirmation Number of your deposit.
  8. After submitting your Payment Confirmation Number, your funds will be released to your account within 24 hours.

About DragonPay

Like PayPal, DragonPay is a payment gateway for Philippine residents to make it easy to make online payments without the need of credit cards. Instead, payments can be made through remittance centers—Cebuana Lhuillier, payment centers—Bayad Center, LBC Bills Xpress and banks—ChinaBank, MetroBank over-the-counter.

About Globe GCash

Like Coins.ph, GlobeCash is a virtual wallet using your Globe mobile number as the account that you can fund or cash out money from. By itself, it can be used to pay bills, send remittance or purchase online.

Step 3. Pay Bills or Load

Processing a bill may take up to 3 business days. You can have the payee get notified automatically via SMS when his/her bill is paid by inputting the cellphone number as a payment option.

What Cellphone Loads Can Be Prepaid?

You can load for any cellphone network on any phone with a prepaid subscription—Globe, TM, Sun, Smart, and Talk-N-Text. Get 5% back on each load transfer.

You can also pay any post-paid cellphone subscriptions. See below the list of what bills can be paid.

To load, login to Coins.ph via browser or mobile app and click on Buy Load.

What Bills Can Be Paid?

As of this writing, the following are the merchants that can be payed online. These are listed in the drop-down selections in the Pay Bills section of the Coins.ph web/mobile app.

    Power and Water Utilities
  • Cotabato Light (CLPC)
  • Davao Light
  • Iloilo Electric Cooperative Inc. (ILECO 1)
  • Laguna Water
  • Manila Water
  • Subic Water
  • VECO
    Credit Cards
  • RCBC Bankard (Credit Card Bill)
  • Cocolife (Credit Card Bill)
  • EastWest Bank (Credit Card Bill)
  • Metrobank (Credit Card Bill)
  • Optimum Bank (Credit Card Bill)
  • PNB (Credit Card Bill)
  • Security Bank Diners Club (Credit Card Bill)
  • Standard Chartered Visa / Mastercard (Credit Card Bill)
  • Tiaong Rural Bank (Credit Card Bill)
  • Unionbank Visa (Credit Card Bill)
  • Allied Bank (Credit Card Bill)
  • China Trust (Credit Card Bill)
  • Equicom (Credit Card Bill)
  • PS Bank (Credit Card Bill)
  • Security Bank Master Card (Credit Card Bill)
  • BPI (Credit Card)
  • Citibank (Credit Card)
  • HSBC (Credit Card)
  • BDO (Credit Card)
    Cable Channel Providers
  • Cablelink
  • Cignal TV
  • Destiny Cable, Inc.
  • Met Cable
  • My Destiny
  • Northstar Cable
  • Pilipino Cable
  • Planet CATV
  • Sky Cable
  • Verdant Cable
  • Wi-Tribe
    SSS Contributions
  • SSS - Salary Loan
  • SSS - Farmers and Fishermen
  • SSS – OFW
  • SSS – Self-Employed
  • SSS - Voluntary Member
    Insurance
  • AXA Life
  • Ayala Life
  • Fortune Care
  • Fortune Life
  • Paramount Life
  • Philam Life
  • Pioneer Life
  • Prudential Life
  • Pru Life U.K.
  • Sun Life of Canada (Phils.), Inc.
    PhilHealth Premium
  • PhilHealth – OFW
  • PhilHealth – Sponsored
  • PhilHealth – Private
  • PhilHealth – Government
  • PhilHealth – Voluntary
    Tuition Fee
  • La Salle Greenhills
  • Miriam College
  • University of San Juan – Recoletos
    Telecom
  • ABS-CBN Mobile
  • Bayantel
  • PLDT
  • Digitel Communications
  • Smart Communications Inc.
  • Sun Broadband (Postpaid)
  • Sun Cellular (Postpaid)
  • Globe Telecom

To pay bills, login to Coins.ph via browser or mobile app and click on Pay Bills.

Step 4. Cash out your earnings.

How are Earnings Made?

Coins.ph's main business advantage is the discount given for every transaction you make. For example, a P100 load paid to you by a customer will cost only P95 at Coins.ph, leaving you P5 as earning. Loading P100 each to 10 customers will earn you P50.

For bills payment, you get a 5 PHP cashback every time you process a bill for more than 50 providers.1 Coins.ph also gives away bonuses or rewards for certain accomplishments:

  • Earn an extra P100 for every 5 bill payments you make in one week
  • You and your friend will both receive 24 PHP when he/she signs up through your referral link and gets ID and Selfie verified.

Where's My Referal Link?

Login and click on the email address on top menu > select Earn Rewards > click Refer a friend and earn rewards. Your referral link is shown in the next page at https://coins.ph/rewards/referrals.

Where's my money?

You can claim back your remaining invested money or just your earnings through the following outlets. Remember that receiving money may incur fees and lessens your earnings so only claim money when you have reached a certain target earning.

Just choose whichever is most convenient or which is fastest (The list is ordered according to processing time):

  • Cardless ATM Instant Payout (24/7) coinsxpress
    Coins.ph 24/7 eGiveCash.
    Processing time: Instant / Fees: Free
    Claim your payout at a Security Bank ATM, even if you don't have a bank account or debit card. Available for orders from 500 PHP to 10,000 PHP per transaction. Please note that the monthly limit for this outlet is 100,000 PHP.
  • Coins Cash Card
    Processing time: Instant / Fees: PHP 20 per transaction
  • Cebuana Lhuillier Pera Padala
    Cash out before 10 am and receive by 12 noon
  • Bank
    Processing time: Mondays to Fridays, orders placed before 10AM are delivered by 6PM. Later orders will be delivered by 6PM on the next business day.
    Fees: Free for branch of accounts within Metro Manila
    • Allied Bank
    • Asia United Bank
    • Bank of Commerce
    • BDO
    • BPI
    • BPI Family
    • China Bank
    • Citibank N.A.
    • EastWest Bank
    • GSIS Family Bank
    • HSBC
    • Land Bank
    • Maybank
    • Metrobank
    • PBCom
    • Planters Bank
    • PNB
    • PSBank
    • RCBC
    • RCBC Savings
    • Robinsons Bank
    • Security Bank
    • Security Bank Savings
    • Standard Chartered
    • Sterling Bank of Asia
    • UCPB
    • Union Bank of the Philippines
    • WealthBank
  • Cash Pickup
    Processing time: Orders placed before 10AM are delivered by 6PM. Later orders will be delivered by 6PM the next day.
    Fees: Varies per remittance outlet
    • Cebuana Lhuillier Pera Padala
    • LBC Peso Padala
    • M Lhuillier Kwarta Padala
    • Palawan Express Pera Padala
    • RD Pawnshop
    • Tambunting Pawnshop
  • Cash Card
    Processing time: Orders placed before 10 AM are processed same business day (Mondays to Fridays)
    Fees: Varies per card
    • BDO Cash Card
    • RCBC MyWallet
    • RCBC MyWallet (Palawan)
    • Smart Money Card
  • Sendah Remit
    Processing time: Cash out before 10 am and get your cash the same day at:
    • Tambunting Pawnshop
    • Maria Gracia Pawnshop
    • Camalig Bank
    • Celer Business Center
    • Via Express
    • Prime Asia Pawnshop
    • Fees: PHP 120 per transaction
  • Globe Gcash
    Processing time: Same business day (Mondays to Fridays) for orders placed before 10 AM
    Fees: Php10 for every Php1,000
    Coins.ph will transfer GCASH to your mobile number. Only available for orders PHP40,000 and below
  • Door-to-Door Delivery
    Processing time: 2-3 business days (Mondays to Fridays) Fees: Varies per delivery outlet
    • 2GO Quikcash
    • LBC Pesopak

General Cash Out Procedure

This applies to cash out methods with processing that are not instant.

  1. Login to your account at Coins.ph.
  2. Click Cash Out tab.
  3. Select a payment method. Click Next Step.
  4. Specify an amount. Click Next Step.
  5. You will be given the needed information to claim your cash from your chosen provider. Print and take the given information with you to where you want to cash out. Don't forget to bring a valid ID.