A specialised money transfer company can help you take advantage of competitive exchange rates on a secure transfer to the Philippines, but finding out which provider is best will depend on how much you’re sending and how quickly you need it to arrive.
Compare services that send money to the Philippines from the UK
Table: sorted by a combination of service offering and the amount your recipient will receive
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
How do international money transfers work?
An international money transfer allows you to send money to friends, family and businesses overseas. Generally, it involves you sending cash or money from your bank account to an intermediary transfer service or bank, which then exchanges and sends the money to your recipient in another country — in this case, the Philippines.
Depending on the provider, you can initiate a money transfer in person, online or by phone. Your cash or bank account transfer is then either deposited into your recipient’s bank account or made available as cash for pickup at a location in their country.
Choose the money transfer provider from our comparison table that best serves your needs considering rates, fees and delivery speed.
Create an account with the transfer provider; expect to provide your name, contact information and proof of identity.
Select the payment option; if you aren’t using cash, provide your banking info so the funds can be withdrawn from your account.
Complete your transaction and you should receive an email receipt or reference number to track your transfer and find out when the funds arrive.
Foreign exchange rates explained
An exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weak currency. The Philippine peso has historically been one of the weaker currencies in Asia. Economic stability, inflation and regional politics all impact the Philippine peso’s value. Currency exchange rate for the Philippines
Banks versus money transfer companies
Many banks in the UK offer the option to send funds to the Philippines, but they typically charge high transfer fees and offer exchange rates that are significantly lower than the mid-market rate — or the rate banks and transfer providers use when trading among themselves.
A reputable money transfer specialist can often offer better exchange rates and also charge lower fees, saving you money and putting more Philippine pesos into your recipient’s pocket.
How to compare transfer companies when sending money to the Philippines
Exchange rates. Nearly all providers skew exchange rates for a profit. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.
Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
Transfer speed. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you’ve more time, you’ll get better rates and fees with an independent provider.
Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate — especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.
“Hedging” options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract
While Manny has forged a successful life for himself in London, he maintains regular contact with his grandparents in his home city of Manila. Manny wants to send £1,000 to his grandparents to help pay for a well-deserved vacation, but he doesn’t want to lose a big chunk of his money on the weak exchange rate offered at his bank. He compares two popular money transfer companies to see if he can find a more affordable option.
Money Transfer Company A
Money Transfer Company B
1 GBP = 63.27 PHP
1 GBP = 64.11 PHP
Bank account deposit
Bank account deposit
3–5 business days
1 business day
Total pesos received for £1,000
It will take longer for his grandparents to receive the money with service A, and they’d receive nearly 840 pesos less than with service B. Manny’s grandparents will receive extra money and get it sooner because Manny shopped around for the best money transfer services.
PayPal.PayPal offers secure international transfers from the UK to the Philippines.
Making an emergency transfer to someone in the Philippines
You might need to send an emergency cash transfer to the Philippines — for example, if a friend travelling through the country loses their wallet. When you need to transfer funds urgently, your fastest possible transfer will often be your most expensive option. Carefully review the exchange rate and transfer fee against your needs so that you understand exactly how much it will cost you.
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.
Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.