Swiss Made

Find the best providers to send money to the Philippines

How to send money to the Philippines

Discover how to transfer money to the Philippines with the best rate with these 4 steps

1. Check the PHP exchange rate against your sending currency

Although the evolution of the exchange rate is fluctuating, it never hurts to monitor it in order to maximize how much you will receive against your sending currency. Track the mid-market exchange rate and validate your transfer when the mid-market rate is close to its highest level of the last few days.

2. Select the optimal deal by comparing the 34 available money transfer providers.

We compare quite a few providers to make money transfers to the Philippines, such as Orbit Remit, Azimo, WorldRemit, TransferWise, Xoom. Save money by comparing all your options and find the best deal for your upcoming transfer.

3. Choose the best provider for your personal needs

Search for the option with the lowest price, the faster transfer time, best ratings, or a good combination of the three.

It is also important to consider the pay-in and pay-out methods. You often have the possibility to pay by sending the money from your e-banking or by credit or debit cards. In Philippines, select the right option, whether you need the money to be sent directly to the recipient's bank account or received in cash (from an agent location).

4. Sign up and start your money transfer with the service you selected

Go to the provider's homepage to sign up (you usually have to provide information to confirm your identity), and provide the details of your transfer.

With more than 10 million Filipinos living abroad and regularly sending money back home, the Philippines are one of the biggest recipient of remittances in the world. It is also one the most dynamic market for the money transfer industries and there often is an overwhelming number of options when looking for the right provider to send money to the Philippines.

The provider offering the lowest fees and best exchange rate for your transfer will depends from where you are sending the money, how much you want to transfer and how you want the money to be received. Use our real-time comparison engine before each of your transfer to make sure to get more Philippine Pesos for your money.

Best rated providers to send money to the Philippines

Which provider to use for transferring money to the Philippines?

There are tenths of providers available for transfers to the Philippines from almost any part of the world, many of which offer many different ways to send and receive the money in the Philippines, ranging from transfer to a bank account, cash pick-up, mobile wallet, airtime top-up, cash home delivery, bills payment or even bitcoin remittances. With that many options, it can feel complicated to find the right provider for your needs, but don’t worry as we’re here to help.

Let’s start with the options we don’t recommend for transfers to the Philippines. Using your bank to make a direct international transfer to a bank account in Philippines will usually be very costly. In addition to the transfer fees you’re likely to pay, you will also lose a lot of money due to the high margin banks take on the exchange rate when converting your money into Philippines Pesos (PHP). PayPal might also sounds like a convenient solution at first, but as we explain in our full review of their services, it is a very costly solution for international money transfers and it could end up costing you and your recipient up to 8-10% of the amount you’re sending.

If you are sending money from the United States to the Philippines, US-based companies such as Remitly, Transfast or Xoom are interesting options, who are often (but not always) more competitive than traditional player such as Western Union or MoneyGram. Some companies based out of Europe such as TransferWise or WorldRemit have recently expanded to the US and are now increasing the competition on this corridor.

For transfers to the Philippines from Europe, you can also consider Azimo, Lycaremit or OrbitRemit (also available for transfers from Australia or New Zealand).

Should you need to make a high-value transaction (more than 10,000 USD to PHP), it is often worth considering going through a foreign exchange company, as they are often able to offer you very competitive exchange rates for large transactions. You can request quotes from WorldFirst, Currencies Direct, OFX or Frontierpay to compare the current rates they can give you.

Save money on all occasions when sending money to the Philippines

Pay your freelances in the Philippines

Pay for your holidays in the Philipppines

Send money to your family

What information do you need to send money to a bank account in the Philippines

Name of the recipient
The name of the holder of the receiving bank account.

Address of the recipient (Street, City, Postal Code)
For legal reasons, it is usually necessary to enter the postal address of the recipient.

Name of the recipient's bank (ex. Union Bank of the Philippines)
You will need to enter the name of the bank, often by selecting the name in a list.
Account number (ex. 0044XXXXXXXX)
The account number of the recipient

There are more than 30 major universal banks in the Philippines. Some money transfer providers will be able to send money to any bank in the Philippines while others will only allow you to send to certain banks. In most cases however, if the recipient’s bank account is with one of the most used banks in the Philippines, it should work with any of the providers we recommend.

TBanks in the Philippines do not use the IBAN system, which means you will generally be asked to enter the name of the recipient’s bank (or choose from a list of banks) in addition to entering the recipient’s bank account number. For most transfers, you will also be required to enter the postal address of the recipient in the Philippines.

Major banks in the Philppines

BDO - Banco de Oro
M Lhuillier
Cebuana Lhuillier
Union Bank of the Philippines
RCBC Savings Bank
Philippine Business Bank
Allied Bank
Bpi Family
Malayan Bank
United Overseas Bank (UOBP)

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