GoSRRV guideBanking and your SRRV deposit

Understand the account structure

The deposit is separate from government and service fees. Published instructions describe an applicant account at accredited private banks; the DBP instructions name PRA as beneficiary. Obtain current, bank-specific instructions from PRA before remitting. Do not copy bank details from a blog or assume one account structure applies everywhere.

Get current written instructions

PRA’s current overview and older remittance PDF show different contact emails for the Letter of Introduction. Use the live PRA contact directory to obtain the current process. Confirm whether an LOI applies to your chosen bank; the private-bank and DBP routes are different.

Verify the full beneficiary, receiving bank, currency, reference and remittance purpose directly with PRA and the bank using independently checked contact details. This website intentionally does not reproduce account numbers.

Prepare the transfer record

PRA requires an inward remittance from abroad. The stated purpose should identify the SRRV applicant by full passport name, date of birth and passport number. Ask the bank how these details fit its reference fields and retain the transfer confirmation.

Allow for correspondent-bank charges and confirm the net amount and bank certificate with the receiving institution. A sent transfer is not the same as a complete deposit certificate.

Plan the exit as well as the entry

Release or conversion of a deposit follows PRA rules and the approved purpose. The deposit is not an on-demand travel account. Keep the certificate, correspondence and current release requirements in the case file.

Set up everyday banking separately

Ask the chosen bank about ordinary account opening, accepted identity and immigration documents, cards, online access and fees. An SRRV deposit arrangement does not automatically provide an everyday transaction account.