Send Money to the Philippines Cheaply

Information verified correct on February 18th, 2017

Find a simple, secure and affordable way to send an international money transfer to the Philippines.

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to the Philippines doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the best deal.

Compare International Money Transfers

Rates last updated February 18th, 2017

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Wyre International Money Transfers
No transfer fees for finder... No transfer fees for finder.com readers. Make transfers with Bitcoin.
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.
USD 500 1 day
Online
Rates are always
changing, click to check
your price today
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WorldRemit International Money Transfers
Fast... Fast, low-cost transfers to 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
TransferWise International Money Transfers
Enjoy high maximum transfers into ... Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Send safe... Send safe, no-limit transfers with no fees and competitive exchange rates.
USD 150 1 day
Online
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changing, click to check
your price today
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Payoneer International Money Transfers
Ideal for worldwide business payments ... Ideal for worldwide business payments to more than 200 countries and 150 currencies.
USD 20
Online
Rates are always
changing, click to check
your price today
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RIA Money Transfer
No fees for bank account ... No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries.
3 - 5 days
Online
Rates are always
changing, click to check
your price today
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HiFX International Money Transfers
Transfer money into 20 currencies ... Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.
USD 100 2 days
Online
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changing, click to check
your price today
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Moneycorp Exchange Experts
Full-service specialist offering competitive exchange ... Full-service specialist offering competitive exchange rates on personal or business international money transfers.
USD 50
Online
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changing, click to check
your price today
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TorFX International Money Transfers
No hidden fees and a ... No hidden fees and a best rate guarantee for 60 global currencies.
USD 150 1 day
OnlinePhoneAgent
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changing, click to check
your price today
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Wells Fargo Bank
While more expensive than other ... While more expensive than other options, securely send money to 13 Latin American and Asian countries.
USD 1 1 day
Online
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changing, click to check
your price today
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How do international money transfers work?

An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, the Philippines. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.

Laws and legal documents when transferring large sums of money into Philippines

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Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
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Banks versus money transfer companies

The first place many people go when they need to send an international money transfer is to their bank. While banks can certainly send money overseas for you, their fees are often higher compared to companies that specialize in international money transfers. These money transfer companies focus on international transactions and can offer much better exchange rates than most major banks. This means that you save money, and your recipient ends up with more Philippine pesos in their pocket.

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How to compare transfer companies when sending money to the Philippines

  • Exchange rates. How does the company’s exchange rate compare to those offered by other providers? A better exchange rate will mean more pesos for your recipient.
  • Fees. How much will you pay to send a transfer, and can the fee be waived for large transfers?
  • Transfer methods. Can you place transfers online, over the phone, by visiting a branch or by using a mobile app?
  • Transfer options. Can you lock in an ideal exchange rate now and transfer the money later, known as a forward contract? Does the institution offer limit orders, which allow you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met? Can you schedule reoccurring payments?
  • Turnaround time. How long will it take for your beneficiary to receive the money?
  • Minimum amount. Is there a minimum transfer limit that you may struggle to meet? Also check whether a maximum limit applies.
  • Pickup methods. Can the cash be collected from a transfer agent, or will it be deposited into your recipient’s Philippines bank account?
  • Customer service. Is phone, email and/or online support offered? During what hours?
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Case Study: Manny Sends Money to the Philippines

While Manny has forged a successful life for himself in Seattle, he still maintains regular contact with his beloved grandparents in his home city of Manila. Manny wants to send $1,000 to his grandparents to help pay for a vacation they’re planning, but he doesn’t want to lose a big chunk of his money by taking the poor exchange rate offered at his bank. He decides to compare two popular money transfer companies to see if he can find a more affordable option.

Money transfer company 1Money transfer company 2
Exchange rate1 USD = 45.265 PHP1 USD = 46.207 PHP
Transfer fee$5$4
Transfer methodBank account depositBank account deposit
Processing time3-5 business days1 business day
Amount received (in PHP)45,265 PHP46,207 PHP

As you can see, Manny can send almost 1,000 extra pesos if he uses the second transfer company.

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How can I send money to the Philippines from America?

  • Bank transfers. Bank-to-bank transfers may cost more than other options but they are a secure way to send money to the Philippines.
  • Online money transfer providers. Companies like OFX and WorldRemit offer affordable international transfers. World First and OFX are both trusted partners of Finder.com and are offering Finder readers an exclusive deal of $0 in fees.
  • Money transfer companies with cash pickup options. MoneyGram, Western Union and Ria offer fast transfers to the Philippines.
  • PayPal. PayPal offers secure international transfers to the Philippines.
  • Checks. International checks can be obtained from your bank and then mailed overseas.
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  • Emergency cash transfers to the Philippines

If you find yourself in a situation where you need to get cash to the Philippines as soon as possible, the good news is that you won’t have trouble finding a company that can make funds available for your recipient to collect within minutes. The bad news is that you should expect to pay extra for such a transaction thanks to higher transfer fees and less-desirable exchange rates. With this in mind, it’s critical that you always take a few extra moments to read all the fine print and make sure you’re completely aware of the full cost of your transfer.

Back to topFind a money transfer location near you

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PRO TIP:

Tips for picking up cash in the Philippines

  • Check an agent’s location and hours of operation before visiting.
  • Avoid visiting any unsafe areas.
  • Don’t wave your cash around in public and make yourself a target for thieves.
  • Don’t carry large sums of money around for any longer than is necessary.
  • Deposit the money into your bank account as soon as possible.
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How to send money to the Philippines

The first step in the transfer process is to provide a little information about yourself, such as your name, address and contact information. A photo ID will often be required, plus you’ll need to supply your beneficiary’s name, address and contact information, along with their bank account info if the funds will be deposited in their bank account.

The next step is to outline all the details of your transfer: the amount you’re sending, your desired currency and where you want the money to go. If you are not using cash or a credit or debit card for this transaction, you will need to provide your banking info in order to have funds drafted from your account.

Once you have completed your transaction, you will be given a tracking number. Make a note of this number so you can monitor the progress of your money transfer.

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US International Money Transfers Offers

Learn about our information service
HiFX International Money Transfers

Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.

WorldRemit International Money Transfers

Fast, low-cost transfers to 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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