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Send Money to the Philippines Cheaply

Information verified correct on January 23rd, 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 January 23rd, 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
Payoneer International Money Transfers
Send Mass Payments To Your ... Send Mass Payments To Your Payees Worldwide
USD 20
OnlinePhone
Rates are always
changing, click to check
your price today
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WorldRemit International Money Transfers
An online money transfer service ... An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
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
Transfer money into a range of currencies online and over the phone.
USD 500 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
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Transferwise International Money Transfers
Make online transfers in a ... Make online transfers in a range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
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HiFX International Money Transfers
Transfer money between 20 currencies ... Transfer money between 20 currencies and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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Currencies Direct International Money Transfers
$0 online transfer fee that ... $0 online transfer fee that you can access 24/7.
USD 100 2 days
OnlinePhone
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changing, click to check
your price today
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OFX International Money Transfers
Exclusive offer: Special exchange rates ... Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
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changing, click to check
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TorFX International Money Transfers
TorFX guarantee to beat any ... TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply
USD 150 1 day
OnlinePhoneAgent
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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 or oftentimes online. You can use cash or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or made available as cash for them to pick up at a location in their country.

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.

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.

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?
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.
  • 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 opening hours 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 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
WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

OFX International Money Transfers

Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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