Send Money to the Philippines For Cheap

Information verified correct on December 5th, 2016

phillipinesEnjoy competitive exchange rates and minimal fees when you transfer funds to the Philippines.

There are plenty of international money transfer services to choose from when you want to send money to the Phillipines. Generally you open an account with the service provider, deposit your funds into the account and then initiate the transfer.

You’ll typically need to provide proof of identity such as your driver’s licence or passport and some personal details to open an account. Once your transfer has been placed, you’ll be provided with a receipt or tracking number so that you can monitor your transaction.

Although it’s simpler than ever before to send money to the Philippines, it’s vital that you shop around for the best deal so your recipient receives more money.

Your options to send money to the Phillipines below

Rates last updated December 5th, 2016
Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
CurrencyFair Business International Money Transfers
A peer-to-peer transfer service with ... a large range of currencies on offer. One free transfer if you signup via finder.com.au.
EUR 8 3 - 5 days
Online
Rates are always
changing, click to check
your price today
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AUD 200 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
EUR 8 2 days
Online
Rates are always
changing, click to check
your price today
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AUD 250 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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AUD 500 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
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Citibank Plus Everyday Account
A transaction account with free ... transfers to any country and no foreign transaction or international ATM withdrawal fees.
AUD 0 Same day
OnlinePhoneAgent...
Rates are always
changing, click to check
your price today
More
Currency Online International Money Transfers
Enjoy regular scheduled ... transfers, one off transfers and a range of currencies. Also enjoy your first transfer for free.
AUD 0 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Make your first transfer for ... free. Transfer money between 20 currencies, and enjoy schedule regular transfers.
AUD 50 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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WorldRemit international money transfers
An online money transfer service ... with cash pickup, bank account to bank account and airtime transfers available.
AUD 0 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More

Have we missed anything in the comparison table? Tell us

Speak to a foreign exchange expert about sending money to the Phillipines

Banks vs international money transfer services

Most Australian banks will allow you to send money from Australia to the Philippine and indeed many people do choose to use their banks when conducting international money transfers. However, the fact is that transfers lodged with your bank can attract poor exchange rates and high fees, so you might be much better off looking to send fund another way.

Specialist money transfer companies offer fast and affordable overseas transfers, typically at much better exchange rates than those offered by banks. These companies also offer lower fees and faster turnaround times than banks, so it makes sense to compare your options before choosing a provider.

Case study: Paul sends money to the Philippines

Paul wants to send a gift of $1,000 AUD to his cousins in the Philippines, but he knows that using his bank to do so will be unnecessarily expensive. With this in mind, he decides to compare the exchange rate and fees of his bank with those offered by a specialist money transfer company. The results of his comparison can be seen in the table below.

Using a bankUsing a money transfer company
Exchange rate1 AUD = 30.92 PHP1 AUD = 33.39
Transfer fee$25$14
Transfer time2-5 days1-3 days
Transfer optionsOnline, in branchOnline
Amount received for $1,000 (PHP)30,92033,390
Difference (PHP)2,470

As you can see, not only can Paul save AUD$11 in fees but he can also send an extra 2,470 Philippine Pesos to his relatives by using a money transfer company.

How do I compare transfer companies when transferring money to the Philippines?

Take the following factors into account when comparing the services offered by different money transfer companies:

  • Competitive exchange rates. You’ll obviously want to look for a company that offers attractive exchange rates. However, keep in mind that some companies with slightly lower rates than others may also offer lower fees.
  • Little to no transfer fee. Most companies will charge a fee for every transfer you make, either at a flat rate or as a percentage of your transfer amount. However, some companies will let you avoid any fees when you transfer more than a certain amount.
  • Flexible transfer methods and options. Can transfers be lodged online, over the phone and/or in a branch? Are there flexible options available to help make the transfer process easier and more affordable? For example, can you lodge regular scheduled transfers or place forward contracts?
  • Quick turnaround time. Compare the average processing time offered by each company for transfers to the Philippines.
  • Convenient pick up methods for your recipient. Some companies will allow cash pickups within minutes while others send funds directly to the recipient’s bank account.
  • Low minimum transfer amounts. Some companies have minimum transfer limits in place, which can be highly impractical if you only want to send a small amount of money.
  • Reliable customer service. Check to see if phone, email and live chat support are offered so that you can have assistance on hand if you ever need it.

TIP: Some banks, for example ANZ, have branches in both Australia and the Philippines. Transferring funds within a bank can save you time and money.

How to send money to the Philippines from Australia

The Philippine Peso is traded regularly on global currency markets, which means you have plenty of options to choose from when looking to send money to the Philippines. These include:

  • Bank transfers. Many Australian banks will let you send funds to the Philippines, though you should keep an eye out for poor exchange rates and high fees.
  • Money transfer for cash pickup. Western Union and MoneyGram allow you to send cash to the Philippines within minutes. Funds can then be picked up from a number of agent locations across the Philippines.
  • Money transfer companies. Specialist money transfer services like TorFX, OFX, World First, CurrencyFair, Currency Online, Travelex, WorldRemit and HiFX offer fast and affordable international money transfers.
  • PayPal. Funds can be sent via PayPal if both you and your recipient have a PayPal account.
  • International money order. You can also obtain an international guaranteed cheque from your bank which can then be posted overseas.

Emergency cash transfers in the Philippines

Foreign-Money-Transfers

There are some situations where you may need to transfer funds to the Philippines as quickly as possible. For example, you may have a relative visiting the region who has their wallet stolen by thieves and is in desperate need of cash to be able to return home to Australia.

Whatever the case may be, it’s important that you exercise caution when lodging an emergency cash transfer. Make sure you know the exact exchange rate that will apply to your transaction, and read the fine print to familiarise yourself with any fees and how long the transaction will take to be processed. Taking the time to do this now will ensure that you get a good deal.

Cash pickup locations in the Philippines

WorldRemit, Western Union and MoneyGram offer multiple branch locations across the Philippines where your recipient can pick up the funds you send. When you go to pick up funds,remember to take proof of identity and some details of your transaction with you. In addition, it’s also wise to phone ahead and make any necessary arrangements if you are picking up a large sum of cash.

WorldRemit

WorldRemit allows you to make cash pickups at M Lhullier, Metrobank, Palawan Pawnshop, PSBank, LBC, BDO and Cebuana Lhullier branches.

  • Quezon City

    M Lhuillier

    Palawan 7 Quezon

    New Public Market, Poblacion 5304

  • CLH Bago Bantay

    132 D Ilocos Sur St cor Bukidnon St. Bago Bantay, Brgy. Ramon Magsaysay District 1

    2-928-3425

    Open Monday to Saturday 7am to 7pm, Sunday 7am to 6pm

  • Manila

    CLH G. Tuazon

    2019 G. Tuazon St. Cor. Honradez St. Ext., Brgy. 549 Zone 045, District IV, Sampaloc

    2-708-8051

    Open Monday to Saturday 7am to 8pm, Sunday 7am to 6pm

  • PSBank Caloocan

    G/F G. Raymundo Building, 314 EDSA

    Monumento, Caloocan

    (632) 361-2163

Western Union

  • Quezon City

    Aguirre Pawn Shop

    General Luis Street 245

    Novaliches

    Quezon City, Metro Manila 1123

    +63-2-6202360

    Open Monday to Saturday 8am to 5pm

  • Alyanna Pawn Shop

    N Domingo Cor Dna Juana Rodriguez

    Alyanna Mini Mart

    Quezon, Metro Manila 1100

    +63-2-4138510

    Open Monday to Saturday 8am to 6pm

  • Manila

    Aguirre Pawn Shop

    Prime Block Podium Level

    Tutuban Center

    Manila, Metro Manila 1013

    +63-2-6202360

    Open 9am to 6pm seven days

  • China Banking Corporation

    J A Santos Ave Cor Batangas St No 2159

    Tondo

    Manila, Metro Manila 1014

    +63-2-6202360

    Open 9am to 4pm Monday to Friday

MoneyGram

  • Quezon City

    Bank of Commerce

    Am Assoc Bld 28 Quezon Avenue

    Quezon City, 0

    6327122560

    Open 9am to 3pm Monday to Friday

  • Banco De Oro

    Cedar Executive Building II 26 Timog Ave Cor Sct Tobias St

    Quezon City, 0

    6327026652

    Open 8:30am to 5:30pm Monday to Friday

  • Manila

    Bank of Commerce

    609 SALES ST.

    QUIAPO

    MANILA, 1001

    27338705

    Open 9am to 4pm Monday to Friday, 10am to 3pm Saturday

  • Banco De Oro

    No 116-120 C Palanca St Quiapo

    Manila, 1000

    6327337434

    Open 9am to 6pm Monday to Saturday

Tips for picking up cash in the Philippines

The Department of Foreign Affairs and Trade recommends that travellers to the Philippines ‘exercise a high degree of caution’, so keep this in mind when picking up cash. If possible, take a friend with you for extra protection, but make sure not to advertise the fact that you have a large sum of cash to anyone. Avoid questionable areas where muggings occur frequently and head straight to your bank to deposit the funds. You can also find some more great travel safety tips by reading online blogs and forums.

About Philippines and Australia

On a global scale, Australia and the Philippines are located quite close to one another and enjoy friendly ties. In fact, Australia is home to more than 220,000 Filipino Australians, the fifth largest subgroup of overseas Filipinos in the world. The largest communities of Filipino Australians can be found in Sydney and Melbourne, though smaller pockets exist in other capital cities.

When you consider this fact, it’s quite unsurprising that many people find themselves needing to transfer money between Australia and the Philippines. While such transactions can be carried out via your bank, there are other more affordable ways to send money overseas.

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