Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
How to send money to the Philippines
How to send a fast, secure and low-cost money transfer to the Philippines from the US.
Updated . What changed?
A specialized money transfer company can help you take advantage of competitive exchange rates on a secure transfer to the Philippines, but which provider is best will depend on how much you’re sending and how quickly you need it to arrive.
Send money to the Philippines with WorldRemit
Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.
- Use promo code 3FREE to get three free transfers.
- Easy to use with round-the-clock help.
- Get cash to family and friends in minutes.
Compare international money transfer services to the Philippines
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to the Philippines with a money transfer service.
What's in this guide?
- Compare international money transfer services to the Philippines
- How to send money to the Philippines online
- What's the best way to send money to the Philippines?
- How to get the most out of your money transfer
- Sending to mobile wallets in the Philippines
- Philippines' exchange rates explained
- Documents needed for sending to and receiving money in the Philippines
- What to watch out for
- Bottom line
How to send money to the Philippines online
Sign up and send money with a digital money transfer specialist in four steps:
- Sign up for a free account. Pick a provider and sign up for a free online account using your contact information and preferred payment method.
- 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.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt’s 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.
Tips when sending money to the Philippines
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.
Compare these providers to find which fits your needs best when sending money to the Philippines from the US:
|Best for||Winner||Why we picked it||Good for||Go to site|
|Large bank deposits||OFX||Sending large amounts for bank deposit.||Transfers over $1,000 — no maximum sending limit||Go to site|
|Cash & speed||WorldRemit||At speeds that often beat its own estimates, you can get cash to the Philippines quickly for pickup or deposit.||Limits vary by country, but good for $500 or more||Go to site|
|Most locations||Western Union||It’s not the cheapest, but fast and effective for same-day pickup.||Cash & convenience – thousands of agents in the Philippines||Learn more|
|Convenience||Xoom||Intuitive site, allows for signup and sending in minutes with clear rates and fees.||Cash pickups in 15 minutes at thousands of agent locations and deposits to all major banks||Learn more|
|Exchange rates||TransferWise||Offers the mid-market rate on transfers to more than 50 countries worldwide.||Supports 40+ currencies||Go to site|
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to the Philippines. ACH transfers through banks, account-to-account transfers through PayPal and other options are available but come with high fees, weak rates and long turnaround.
Digital money transfer specialists
Companies like OFX and TransferWise specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer a variety of options for your recipient to receive their money, including to bank accounts as well as in person.
Services like MoneyGram allow you to transfer cash for pickup at a local branch in the Philippines— often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak rates and high fees. If a cash pickup is necessary, look to digital services like WorldRemit or Remitly.
Philippine pesos usually aren’t easily accessible from banks in the US, so beware of high fees and wide margins on the exchange rate compared to digital and other options.
Crunching the numbers: Sending $2,000 to the Philippines
Let’s say you need to send $2,000 to family in the Philippines. Here’s what you might face as far as fees and exchange rates as of May 5th, 2020.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||$0||$3.99||$25 + additional correspondent bank fees|
|Exchange rate||1 USD = 50.241 PHP||1 USD = 50.433 PHP||1 USD = 45.977 PHP|
|Transfer speed||1-2 day||Minutes||2-5 days|
|Amount received||PHP 100,482||PHP 100,665||PHP 90,805|
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 PHP 9,850 more than the bank offers.
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 USD-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 the US.
- 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 option 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 are 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. Just be sure to always 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 US 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.
Track how the Philippine peso trades against the US dollar in our historical rate chart.
Find the best provider for your transfer
Answer three quick questions and we'll give you an instant recommendation for a money transfer service based on your needs.
Question 1 of 2
Based on your answers, check out:
Documents needed for sending to and receiving money in the Philippines
To send money to the Philippines from the US, 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 the US
To send money from the US 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. Some services allow you to send transfers without ID, but they may require your SSN.
- 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.
What to watch out for
Most money transfers between the United States and the Philippines shouldn’t have any specific tax obligations attached to them, so long as they are for personal use and kept under $10,000 USD. Some circumstances may trigger a need for filing specific forms, so read up on our
remittance tax guidelines for the Philippines to learn more about when you may need to file with the IRS.
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.
Read more on this topic
US remittance statistics We've unpacked the most recently available data from the World Bank to get an idea of how much money is being sent around the globe.
Best ways to send money online Navigate the world of sending money domestically and internationally with our hand-picked list of popular services.
XE vs. OFX money transfers Check out this side-by-side comparison of XE and OFX to find out which provider offers the best value on international money transfers.
Alternatives to InstaReM Find the best alternative websites to InstaReM for online money transfers.
TransferWise account for e-commerce sellers review Receive payments in five local currencies and convert them to dozens of others using one account.
XE vs. Western Union We compare XE's and Western Union’s fees, exchange rates and transfer speeds side by side.
Remitly vs. PayPal Compare a well-known payments giant to the newer Remitly and see which one can give you a better deal.
Remitly vs. TransferWise Remitly and TransferWise’s fees, exchange rates and speeds compared side by side.
How to send money to Guinea Compare the services that send money to Guinea. Find out how to get the best value for your money, how long it takes and what to look out for.
Best places to exchange currency in Sydney Your guide to currency exchange services in Sydney, including where to find the best exchange rates and lowest fees.
Ask an Expert