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How to send money to the Philippines

Take advantage of low fees and competitive exchange rates when sending money to the Philippines.

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The best way to send money to the Philippines involves comparing providers to find one that fits your budget and needs.

MoneyGram is often cheaper than WorldRemit and Western Union to deliver cash pickups in minutes. TransferWise offers strong mid-market rates with no hidden fees.

Shop around with a few digital specialists to find the best deal on your next transfer.

Send money to the Philippines with WorldRemit

提供現金提取、銀行戶口之間轉賬與及Airtime匯款選擇的網上匯款服務,。
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.

  • Use promo code 3FREE to send your first three transfers with no fee
  • Easy to use with round-the-clock help
  • Get cash to family and friends in minutes
Promoted

Your options to send money to the Philippines

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 60 1 day HKD 0.00 6.178 PHP
61,777
Skrill能令你輕鬆匯款至多個熱門目的地,可是要留意其加上的手續費。 Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees. Go to site Show details
USD 10 1 - 2 days HKD 130.00 6.201 PHP
61,206
以透明的匯率,低收費及低最低金額的網上服務作匯款。 TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
USD 1 Within an hour HKD 20.00 6.176 PHP
61,641
提供現金提取、銀行戶口之間轉賬與及Airtime匯款選擇的網上匯款服務,。 WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups. Go to site Show details
USD 100 1 day HKD 15.00 6.108 PHP
60,990
非Finder客戶將獲得較昂貴的匯率。 Better exchange rates for Finder customers.
可用45種貨幣匯款。 OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
GBP 5,000 1 - 2 days HKD 0.00 6.108 PHP
61,082
可匯款至20+個國家,無手續費。 CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details
SGD 1 1 day HKD 62.00 6.201 PHP
61,628
你首兩次港幣$15,000或以下的匯款,手續費全免。Pay no fees on your first two transfers, up to HK$15,000.
象徵式收費以及中間價匯率,可匯款至高達30多個國家。 SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
USD 5 1 - 2 days HKD 25.00 6.139 PHP
61,239
新客戶可享有首三個月無限次免手續費匯款。New customers get 3 months of unlimited free transfers.
可用15+種貨幣匯款,享有超越銀行的匯率以及快速轉賬時間。 CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
USD 50 1 day HKD 35.00 6.201 PHP
61,795
快捷又簡單的國際匯款服務,大部分匯款收取固定的0.5%手續費。部分貨幣更不設保證金率。 InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What’s the best way to send money to the Philippines?

To help you narrow down the best, we’ve dug through the details of many leading money transfer companies. Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to the Philippines. Wire transfers through banks, account-to-account transfers through PayPal and other options are available but come with high fees, weak rates and long turnaround times. Here are some more details on your options:

  • Digital money transfer specialists. Companies like InstaReM, SingX and Skrill are great ways to send money to the Philippines. These companies specialise in foreign currency transfers and are some of the best ways to turn your dollars into pesos.
  • Cash transfers. Look to WorldRemit, MoneyGram or Western Union to have cash delivered to the Philippines. WorldRemit and MoneyGram will probably be cheaper than Western Union, but compare a variety of services to find the best way to send money to the Philippines.
  • Bank transfers. Banks are almost always the most expensive way to send money, as they tend to offer weak exchange rates, charge high fees and have slow turnaround times for your transfer.

Let’s crunch the numbers: Sending $10,000 to the Philippines

Suppose you need to send $10,000 to family in the Philippines. Here’s what you might face as far as fees and exchange rates as of 3 Jan, 2021.

Digital money transfer serviceCash transferBank transfer
Fee59.64 HKD8.00 HKD65.00 HKD + additional correspondent bank fees
Exchange rate1.00 HKD = 6.1865 PHP1.00 HKD = 6.1308 PHP1 .00 HKD = 6.09753 PHP
Transfer speed1-2 dayMinutes2-5 days
Amount received61,496.04 PHP61,258.50 PHP60,579.00 PHP
Verdict
  • Better than the bank
  • Fastest and least expensive
  • Slowest and most expensive

The bank option ends up being both the slowest and gets the smallest amount of money to your recipient. If you go with the digital money transfer service, your recipient ends up with 917.04 PHP more than the bank offers.

How to send money to the Philippines

Sign up and send money with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Create an account using your contact information and preferred payment method after you pick a provider.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their Philippine bank account details.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your confirmation number to track the progress of your transfer to the Philippines. Some money transfer providers send a text or email when your transfer is complete.

How to get the most out of your money transfer

Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to the Philippines to meet your needs:

  • Exchange rates. The HKD-PHP relationship fluctuates, so the rates you see today may be different tomorrow. Locking in an exchange rate when possible may save you money in the future if the rates shift quickly.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the number of Philippine pesos you’re sending.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to the Philippines from Hong Kong.
  • Maximum limits. When exchange rates are favorable, sending more money can save you money in the future. If you plan to send large amounts of money to the Philippines, be sure to pick a provider that won’t limit you.
  • Transfer methods. Whether you want money sent to a Philippine bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

Emergency cash transfer to the Philippines

When it’s more important to get your money to the Philippines quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to the Philippines without a bank account

Cash transfer services can help you if you’re unbanked or marginally banked. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.

Sending to mobile wallets in the Philippines

Many popular money transfer providers, including WorldRemit and TransferWise, allow you to send money directly to a mobile wallet in the Philippines. Mobile wallets, also known as e-wallets, are a convenient receiving option because the recipient can store and spend money directly from their phone. Some of the most popular mobile wallet options in the Philippines include:

  • GCash. GCash allows you to make both local and international purchases online, pay bills, send and receive money from other GCash users and more.
  • PayMaya. PayMaya gives you access to a virtual Mastercard that can be used for online shopping, and you’re able to deposit money into your PayMaya wallet without going through any verification processes. Additionally, PayMaya can be used to pay bills and transfer money to and from other PayMaya users.
  • Coins.ph. Coins.ph combines control of the Philippine peso with cryptocurrencies like Bitcoin, XRP and Ethereum, and gives you a full range of bank-like services without needing to have an official bank account.

When you’re looking for a convenient way to send money to the Philippines, having the funds delivered to a mobile wallet is one of the more straightforward options. But be sure to double-check the associated fees, exchange rates and processing times for each mobile wallet before signing up and using it.

Philippines’ exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency.

The Philippine peso often fluctuates when compared to the HK dollar, so expect exchange rates today to be different than those you’ll see tomorrow. Factors that influence the exchange rate include interest rates, economic stability and inflation.

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Updated: 20 Jan 2021 01:43:01 UTC

Documents needed for sending to and receiving money in the Philippines

To send money to the Philippines from Hong Kong, you’ll need government-issued ID and other documents, while documents needed to pick up money in the Philippines may be different by company.

Documents to send money from Hong Kong

To send money from Hong Kong to the Philippines, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s license, passport or other government-issued ID.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, Philippine bank account and routing number if sending to their bank.

Documents to receive money in the Philippines

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. A Philippine passport or any other government-issued ID that has your photo in addition to your address can typically be used to pick up money in the Philippines.
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender’s information. Take along your sender’s full name, the sending country and their address, if known.

Bottom line

Sending your hard-earned money to the Philippines shouldn’t cost a fortune. Compare transfer companies that specialize in foreign for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.

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