Send money to the Philippines cheaply

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 Philippines. If you are a Philippines national, having a valid residential permit and a valid visa to work and live in India, you should have a thorough knowledge about RBI’s regulations regarding how to open a bank account in India. You should also know India’s regulations regarding international money transfers.

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 Philippines

Rates last updated October 16th, 2019
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
InstaReM International Money Transfers
INR 4,000
2 days
Online, Phone
InstaReM is a simple, quick and cost-effective way to send money abroad with zero transaction fees
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Compare up to 4 providers

Banks vs international money transfer services

Most major Indian banks will allow you to send money from India to the Philippines, and many people choose to use their banks when conducting international money transfers. However, transfers lodged with your bank can attract poor exchange rates and high fees, so you might be much better off looking to send funds 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.

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 higher 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 pickup methods for your recipient. Most companies will 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 Citibank and HSBC, have branches in both India and the Philippines. Transferring funds within a bank can save you time and money.

How to send money to the Philippines from India

Rates last updated October 16th, 2019
Name Product Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
InstaReM is a simple, quick and cost-effective way to send money abroad with zero transaction fees
INR 4,000
2 days
Online, Phone
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Compare up to 4 providers

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 the following:

What documentation do I need for my money transfer?

You have the option of bank transfers and cash transfer services when sending money to Philippines. If you are going to use a bank, make sure that your bank in Philippines will accept the transfer from an Indian bank. If using a cash transfer service provider, you will need to know the following about your recipient:

  • Your recipient’s full name. These companies are very cautious when making an overseas remittance and will check that the name on the transfer is an exact match for the name on your recipient’s identification.
  • Keep your tracking number. Your recipient will have to give the agent the tracking number for the transaction.
  • Your recipient’s address and phone number. Make sure that you have the correct contact details for your recipient.
  • Recipient bank account number. If you are wiring the money to a bank, you will need to have the account number and routing number.

Save the paperwork that you receive after initiating the transaction in case of any difficulties.


When making a big move to a new country, even if temporarily, you want to make sure that you have the means to maintain your family back in the Philippines. Consider your options carefully and make comparisons to ensure that you are getting the best value for your money.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site