IMPORTANT NOTE: NextPay cannot independently speed up the processing of your deposit into the bank itself. This depends greatly on how and when you deposit your funds into the bank.
What are the usual processing timelines for each deposit method?
Let’s define some terms:
Banking day: Monday to Friday except for legal holidays
Calendar day: Monday to Sunday including legal holidays
Deposit crediting times may vary depending on the method used.
Deposit Method | Time of Deposit | Estimated Crediting Time | Notes |
InstaPay, Cash (UnionBank Over-The-Counter), UnionBank-to-UnionBank Transfers | During banking hours (8 AM–6 PM, PHT) on the same banking day | Provided all deposit details are correctly logged, your deposit will be credited within 30 minutes of the time it was logged, on the same banking day. | These are the fastest methods to fund your NextPay account. |
PESONet | A. Before 3 PM (PHT)
B. After 3 PM (PHT) | A. Before 3 PM (PHT):
B. After 3 PM (PHT):
| Please refer to the UnionBank PESONet Settlement Advisory (August 1, 2024) for more details. |
Wire Transfers, Check Deposits | Any time (not limited to banking hours). | 1–3 banking days, depending on the sending bank's standard clearing times. | These methods may take longer due to the bank’s clearing process. Our team monitors the clearance and will credit your account once the funds are available. |
NOTE: Please note that the funds transfer crediting schedule outlined above is for your guidance only. Actual crediting times will depend on the receiving bank’s internal processes and policies.
Tip: Make sure the details you log in—date of your transaction, account number, and amount—exactly match the details shown in your proof of deposit match to avoid delays or errors.
Why is my deposit pending?
There could be a few reasons why your deposit is still being processed:
Check standard clearing or PESONet settlement times
The clearing day and time may vary depending on the time that the transaction was made, as well as on the cutoff times of the bank you transferred from. This is dependent on Banking Days. Please check your bank’s PESONet policies for more information.Please refer to the UnionBank PESONet Settlement Advisory (August 1, 2024) for more details.
Funds are still in transit to NextPay
Wire transfers and check deposits may be subject to delays depending on the journey of the money transfer from the source account to the destination bank of NextPay.
At times, despite funds being deducted from your bank account (source), there may be delays in the banks crediting it to our bank account (destination) due to system or network traffic or banking day reasons.
Foreign exchange conversion rate
Wire transfers (international/overseas) may take some extra time as the final amount may be subject to change due to foreign exchange rate movements while the funds are in transit.
Tip: Please review the estimated crediting period provided by your wire transfer platform.
Failure to timely log your deposit
Despite making a deposit to NextPay’s bank account, failing to log the deposit or logging it with incorrect details will likely result in a delay in reflecting on your account, and you may need to log it again.
Rest assured, the funds will be promptly credited to your NextPay account once they are reflected in our bank account. For a smoother experience, we suggest proactively planning and executing your deposits ahead of time to avoid potential delays.
If the deposit takes longer than expected due to banking network delays, please don't hesitate to reach out to us at [email protected] or use the chat widget.