Top 7 Philippine Money Transfers

About Author: Hi, I’m Quinn Askeland. In 2014, I started Transumo after experiencing expensive, slow, and frustrating international money transfers and payments through banks. Once I discovered how to manage my own international currencies much better, I became driven to help others improve their transfers and payments. Fortunately, today, there are many excellent options. See My Full Bio.

To and From – UK, Europe, US, Canada, and Australia

International money transfers to the Philippines can be a tricky prospect – simply because they are so many to choose from – which ones can you trust?

Let’s make it simple.

In the next few minutes you will find the best service for YOU!

For example, safety and savings on fees are important but how the money is delivered and transfer speeds can also be very important.

It all starts with choosing a service designed for the amount you are sending.

Disclosure: This post contains affiliate links which often saves you money! 🙂 For more information, see my disclosures here.

Jump Links

• Sending Cash Below $300 USD / ₱15000 PHP
• Best Below $7000 USD / ₱35000 PHP
• Best Above $7000 USD / ₱35000 PHP

Country Notes (Transfers to the Philippines from these countries)

• UK
• Europe
• US
• Canada
• Australia

Snapshot Table

Important Factors

1. Costs
2. Service
3. Speed
4. Safety and Security

Sending Cash Below $300 USD / ₱15000 PHP

A decade ago you’d be limited to rely on services like WesternUnion (review) or MoneyGram to send cash to family and friends in the Philippines. After all, these money transfer giants have been around for a while and have over 500,000 agent locations all over the world.

But they are expensive compared to many services that have better options.

Now services like Azimo, Small World, WorldRemit (review) make it easy, fast and cheap to send micro cash amounts to the Philippines.

These services support a number of payout methods, including fast cash transfers, while keeping transfer costs low.

In this category WorldRemit is our top pick, offering a great range of services to the Philippines and it helps that they offer some free transfers – see snapshot below.

Apart from great customer support, WorldRemit enables next day cash pickups, bank transfers, mobile airtime top up (Globe/Sun Cellular/Smart/Cignal-TV/Smartbro/SmartGold) and even mobile money (GCash, PayMaya, Coins.ph).

Best Below $7000 USD

For smaller transfers of $7000 USD and below, Remitly (review) and Wise transfers (review) are great options.

However Wise is an all-star for your bank-to-bank and card-to-bank transfers from 60+ countries to the Philippines, bundling the best of fee structure and customer service.

With Wise as expat you might also love their Multi Currency Account (review), including a prepaid MasterCard debit card, a multi currency wallet, international bank details in major currencies (USD, CAD, GBP, EUR, AUD, and NZD) as well as the ability to pay and get paid local in many countries.

Need cash pick up or super fast transfers?

Remitly is a great option, specialized in fast and affordable transfers for immigrant workers from these 16 countries: UK, US, Australia, Canada, Ireland, Germany, France, Italy, Spain, Austria, Belgium, Finland, Netherlands, Norway, Singapore and Sweden.

Lowest fees

Wise is very hard to beat for bank transfers with WorldRemit also offering excellent fees for transfers to the Philippines (both micro and small amounts).

You might also like: Wise VS WorldRemit and Remitly VS Wise.

Best Above $7000 USD

For large transfers to the Philippines OFX (review) is our top pick with XE (review) offering excellent exchange rates as well.

If you’re sending large and extra large amounts to the Philippines, we recommend going with a service that;

1. For safety, is registered with regulators ideally in your sending country or major countries like the UK and the USA.
2. To keep costs low, has structured their fees so that they reduce in percentage terms as the amount increases.
3. To make sure things go smoothly, offers great phone support. (This is particularly important for larger amounts where issues with banks like daily transfer limits can happen and require assistance to make things easy)

Both these services are very strong in all these important elements!

Country Notes (Transfers to the Philippines from these countries)

For a quick overview and to save money, don’t miss the snapshot table below.

UK

WorldRemit is our top choice for fast cash payouts partly because they maintain a massive network of partners like M Lhuillier, Banco de Oro, Cebuana Lhuillier, Metrobank, LBC Bank, PS Bank, Palawan Pawnshops, Bank of Commerce, CIS Bayad Center, TrueMoney and many more.

The reason we have chose them as our top pick is that they are very competitive on fees and you can get the first 3 transfers free simply using the link in the snapshot table below.

WorldRemit are also have fast transfers and high customer service standards.

For transfers to a bank account (not cash) our top pick is Wise who have no markup on the exchange rate (this makes them a stand out) and transparent fees, but they are limited to bank-to-bank or card-to-bank transfers. 

For larger transfers, OFX is our top choice for you and your recipient in terms of fees and because of their strong presence in the UK (including telephone support if required).

Europe

For cash payouts, it is hard to go past WorldRemit who maintain a massive network of partners including many banks like M Lhuillier, Banco de Oro, Cebuana Lhuillier, Metrobank, LBC Bank, PS Bank, Palawan Pawnshops, Bank of Commerce, CIS Bayad Center, TrueMoney and many more.

They are very competitive on fees and you can get the first 3 transfers free simply using the link in the snapshot table below.

Remitly however could be the best choice for you if you as they speak 11 languages and can chat online in English, French, and Spanish 24/7.

For transfers to a bank account, Wise is our top pick for smaller amounts because of their competitive transparent fees. They also speak Spanish, German, Italian, French, Portuguese and Hungarian.

For larger amounts of $7000 USD/€ 6000 EUR and above XE is a strong option with multilingual staff providing support in English, French and Spanish.

US

Most remittances to the Philippines are sent from the US, which means there are a huge number of options to choose from.

For transfers below $7000 USD / ₱15000 PHP WorldRemit is our top pick offering fast transfer “in minutes” with super low fees even when sending money in cash or to a bank account. You can also get the first three transfers free when you use the link in the table below.

For larger transfers ($7000 USD / ₱15000 PHP) OFX is your best bet as they’re regulated in the US and have offices in New York to ensure good customer service (if required).

Canada

If you want to send cash “within minutes” to the Philippines from Canada, WorldRemit offers excellent rates. You can also get the first three transfers free when you use the link in the snapshot below.

If instant transfers or cash transfers aren’t a priority, Wise offers an excellent mix of affordable rates, fast transfers and great customer service.

For those large transfers over $7000 USD/$9500 CAD – OFX are ideal options as they’re regulated and have offices in Toronto which can be a huge advantage if you need phone support.

Australia

WorldRemit is our top choice if you want to send cash “within minutes” to the Philippines from Australia. They are very competitive on total fees and as great introduction you can get the first three transfers free when you use the link in the snapshot table below.

If instant transfers or cash transfers aren’t a priority, Wise wins the day with an excellent mix of affordable rates, online platform, fast transfers and great customer service.

For those large transfers over $7000 USD/$9500 CAD – OFX is our preferred option as they are head quartered in Sydney and regulated in Australia.

Snapshot Table

Important Factors

1. Cost

Cost is one of the most important filters for choosing the right currency transfer service for your specific needs.

While your bank may seem like the safest choice for your international transfers, you’ll end up being saddled with hefty fees and slow transfers.

Important factors that determine your transfer costs include your target currency (if you opt for payouts in pesos, transfer costs are lower), transfer speed, and payout method.

The right transfer company passes on the savings to you while making sure you have an easy-breezy transfer experience.

For your transfers to the Philippines – Azimo, Small World, WorldRemit, Wise, and XE are all leaders in helping you save on fees.

2. Service

Scope and quality of service are also major factors for choosing a currency transfer company that fits your needs.

This can become especially important if there is a hitch in the process!

In general some services are exceptional for small amounts which you can do online, while others offer phone support for large transfers which can be very helpful to ensure everything runs smoothly.

In our experience, Wise is excellent for bank transfers from anywhere, WorldRemit is great for your fast and affordable cash payouts, while XE and OFX are ideal for your large transfers are their telephone strong telephone support.

3. Speed

Choosing the fastest way to send money internationally is also an important factor that determines which service you should opt for.

Typically, instant transfers are funded with a debit or credit card and tend to be more expensive than bank-to-bank transfers. However, Azimo, Small World, and WorldRemit keep their fees really competitive, whether you instant fast cash payouts, cash card top ups, mobile top ups, or bank transfers.

Transfers funded by bank accounts and sent to a recipient’s bank account are typically slower (taking 3-5 days). However, Wise is known for being a game changer and usually processes these transfers on the same day and which means the money often arrives in just a couple of days.

4. Safety and Security

Is your money safe with currency transfer companies?

Absolutely.

Remittance companies and money transfer providers are licensed financial service providers and they’re required to follow regulations such as the FCA (UK) and the CFPB (USA) to operate in those countries.

All money transfer companies make it a priority to protect your money and data with industry-leading encryption procedures on their website and apps. They also conduct regular audits to make sure the transfers are in line with their scope of service as well as to rule out criminal activities (like fraud and money laundering).

But we do recommend exercising a bit more caution when you’re sending large amounts.

For instance, make sure the service you choose is registered with a financial regulator located in a country like UK, USA or Australia like the ones here.

Happy Transfers!