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How to send money to the Philippines

How to send a fast, secure and low-cost money transfer to the Philippines from the US.

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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.
Promoted

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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1 Same day CAD 0.00 36.635 PHP 36,635 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details
USD 1 Within an hour USD 3.99 36.746 PHP 36,746 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. Go to site Show details
USD 50 1 - 2 days CAD 0.00 36.709 PHP 36,709 InstaReM offers quick and simple international money transfers with the ability to earn loyalty points. 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.

How to send money to the Philippines online

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

  1. 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.
  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 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 forWinnerWhy we picked itGood forGo to site
Large bank depositsOFXSending large amounts for bank deposit.Transfers over $1,000 — no maximum sending limitGo to site
Cash & speedWorldRemitAt 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 moreGo to site
Most locationsWestern UnionIt’s not the cheapest, but fast and effective for same-day pickup.Cash & convenience – thousands of agents in the PhilippinesLearn more
ConvenienceXoomIntuitive 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 banksLearn more
Exchange ratesTransferWiseOffers the mid-market rate on transfers to more than 50 countries worldwide. Supports 40+ currenciesGo 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.

Blue icon representing money transfers Image: Infogram

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.

Picture not described: BlueCoinsCashIcon_Infogram_94x62.png Image: Infogram

Cash transfers

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.

Picture not described: BlueBankIcon_Infogram_62x56.png Image: Infogram

Banks

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 serviceCash transferBank transfer
Fee$0$3.99$25 + additional correspondent bank fees
Exchange rate1 USD = 50.241 PHP1 USD = 50.433 PHP1 USD = 45.977 PHP
Transfer speed1-2 dayMinutes2-5 days
Amount receivedPHP 100,482PHP 100,665PHP 90,805
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 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.

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Updated: 13 Aug 2020 03:32:58 UTC

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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.

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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2 Responses

  1. Default Gravatar
    leeJuly 23, 2018

    is it possible to go into western union in cambodia ,vietnam ,thailand laos , and use my nationwide debit card to collect us dollars , ie 1000$ at a time or my maximum in £ ‘s to avoid 3% charges on my card ? i want to send it to my self

    • Avatarfinder Customer Care
      JoshuaAugust 5, 2018Staff

      Hi Lee,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Yes, it is possible to send money to yourself when you are abroad. This is one of the ideas travelers think of to avoid fees. However, please note that there are fees that you should think about first and weigh your options. For example, WU might give a lower exchange rate compared to simply using an ATM abroad. Plus, it takes days before you get your money in WU.

      So, it is up to you to consider the pros and cons of your options. Moreover, you may also consider other money transfer service providers listed on this page.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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