Converting your Philippine pesos to an exotic currency like the Qatari riyal may not be an easy process, but you can make things easier by comparing your money transfer options. Rather than spend time and hard-earned money on expensive fees and a long processing period, check out a few ways you can save on fees and get a better exchange rate when you’re sending money from the Philippines to Qatar.
Compare money transfer services to Qatar from the Philippines
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Qatar. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you’ll typically face higher fees and weaker exchange rates when going that route.
Digital money transfer services
Companies like WorldRemit specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Qatari bank account, often in as little as a day or two.
How to get the most out of your money transfer to Qatar
Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Qatar to best meet your needs:
Exchange rates. Using a service that allows you to lock-in exchange prices may help you save money down the line if the Qatari riyal rises against the Philippine peso.
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 PHP-QAR 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 amount of Qatari riyals you’re sending to Qatar.
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 Qatar.
Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you’re sending is a valid strategy for saving money.
Transfer methods. Whether you want money sent to a Qatari 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 Qatar
When urgency trumps cost to get your money to Qatar 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.
Cash transfer services can help you 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.
Qatar’s 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. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Qatari riyal trades against the Philippine peso in our historical rate chart.
Updated: 25 Jul 2021 14:23:33 UTC
Documents needed for sending to and receiving money in Qatar
To send money to Qatar from the Philippines, you’ll need government-issued ID and other documents, while documents needed to pick up money in Qatar may differ by company.
Documents to send money from the Philippines
To send money from the Philippines to Qatar, 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.
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 and Qatari bank account information.
Documents to receive money in Qatar
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, an MTCN, a reference number or a tracking number, depending on the company.
Government-issued ID. A Qatari Passport, Qatari ID or similar official ID may be required to pick up your transfer.
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
Sending money to Qatar may be subject to taxes on the money transfer, but it depends on a lot of variables. In general, any large transfers over ₱500,000 being sent from the Philippines to other countries will automatically be reported by your bank to the Bangko Sentral ng Pilipinas in compliance with the Anti-Money Laundering Act.
Sending your hard-earned money to Qatar shouldn’t cost a fortune. Compare money transfer companies that specialize in foreign transactions 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.
Zak Killermann is a writer at Finder who’s been specializing in cryptocurrencies and blockchain technology for four years — covering everything from ICO booms, crypto winters, memecoins and more. He’s mined and minted cryptocurrencies, and remembers the days when DOGE was just for fun. Zak’s focus is in breaking down technical concepts (like yellow papers) for the average folk to digest on their morning commute. Before diving into all things crypto, Zak contributed to Finder’s money transfers vertical.
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