The Cheapest Way to Send Money to the Philippines Guide


Cheapest Way To Send Money To The Philippines – When you are planning to send money to an overseas location, you need to find the cheapest way to send your cash.

When sending money to the Philippines, you will also be exchanging the currency as well.

You are trying to save money on fees, and the recipient needs to get their money as quickly as possible.

There are some cheap options below that will make your life much easier.

If you are exploring these methods, you need to make sure that they work in the country where you are trying to send money.

Plus, you need to know that that company has a physical office in the Philippines.

Best Ways to Send Money to the Philippines From the USA

There used to be a time when sending money abroad from the United States of America (and vice-versa) was a complete nightmare.

Luckily, things have evolved a great deal over the past couple of decades.

Today, you can find efficient and effective ways to transfer money to most countries in the world from the USA.

Of course, this includes the Philippines.

In order to help you do just that in the fastest, securest and most effective way possible, this article will provide useful information on the subject.

What If You Want to Send a Fixed Amount in Pesos?

If you want to pay someone in the Phillippines for services provided, it’s always a good idea to do so in pesos as that will give you the best rate possible.

Unfortunately, this is less common than sending money in dollars.

However, there are some services that allow this, including PayPal, Ko-Kard, MoneyGram, WorldRemit, Travelex, Azimo and Transfast.

What If You Are Sending Money to Multiple People?

Normally, sending money to multiple people is difficult due to setup and processing issues.

However, there are some companies that have comprehensive websites that allow this type of operation.

Even though it’s somewhat expensive, one of the best is PayPal as it allows you to upload a spreadsheet file.

On the other hand, Payoneer has a great API system that allows sending money to multiple recipients at the same time.

Simple, Low-Cost Ways to Transfer Money Overseas

There are a few different ways to send money to the Philippines from the USA.

When the time comes to choose a specific one, various factors come into play, including exchange rates, transfer fees, the speed of transfer, security and convenience.

The most common are the following:

Bank Transfers To Philippines

Without a doubt, bank transfers offer the most reliable and ubiquitous way to send money to the Philippines from the USA.

Secure, fast and guaranteed, they are ideal for sending large sums of money.

Philippines Money Transfer Agents

There are several private companies that facilitate transfers from the USA to the Philippines.

They are fast, efficient and relatively secure.

However, they are not recommended for transferring large sums of money.

Some of the most reliable and well-known are Western Union, Moneygram and Ria.

Money Orders

By the money order system, a sender in the United States pre-pays a fixed sum of money in a bank or post office.

Then, a recipient in the Phillippines receives a fixed sum of money directly through the post office or an authorized bank.

How Much Does it Cost to Send Money to the Philippines

Ask About Fees to Send Money to the Philippines.

Hidden fees can be VERY high and costly.

The actual transferring or sending money to the Philippines can vary and be costly, so can be currency exchange fees.

You cannot send money overseas until you know what the fees are.

Some companies charge a low fee, but others charge no fee because the core of their business is not focused on money transfers.

Ask the transfer company or bank if they charge a fee when your recipient receives the money.

Plus, ask the company if they charge a flat fee or percentage fee.

A percentage fee could be incredibly high if you are sending a large amount of money.

Find A Transfer Company to Send Money to Philippines

Whether you are sending money to Mexico, the Philippines, or another international location, you must consider the exchange rate.

Every transfer company or bank has a rate at which t exchanges money with other banks.

When you have found a transfer company, make sure they offer good exchange rates.

If the transfer company also has an office where your recipient lives, you can easily send cash to that location.

How Much Does it Cost to Send Money to the Philippines
How Much Does it Cost to Send Money to the Philippines

Online Money Transfer Services

Last but not least, online money transfer services are an incredibly quick and efficient way to send money to the Philippines.

Apart from being fast, they tend to have the best and most affordable transfer rates and low or nonexistent transfer fees.

Some of the most well-known and reliable are PayPal, Xoom, TransferWise, PNB, Transfast and InstaReM.

You Can Send Money Electronically to the Philippines

You can send money electronically if you would like the money to go directly to a bank account.

You can use a transfer company for the electronic transfer, but you need to check their exchange rates.

Plus, you need to make sure that they offer service to your recipient’s bank from your bank.

When you transfer money to the Philippines electronically, you should make sure that you have checked the routing number and bank account number more than once.

You will find that the routing number and account number are not always checked by the transfer company before the money is sent.

You do not want to send the money to the wrong account, and you do not want to find out that the transfer was rejected after the fact.

Choose A Company That Handles Philippines Payroll Accounts

There are some companies that offer services through their payroll app.

When you are sending money through these companies, they often offer low to no fees.

Plus, these companies have a relationship with every major bank in the region.

You can be sure that the company will transfer the money for you, and you can set up an account with them that will remember all your account information.

If you set up a business account, you may be able to transfer money to the Philippines for a lower fee.

The business account will help you send instant transfers, and those transfers will arrive sooner every time you do it because the bank or transfer company knows your account is safe.

Transfer Money Directly From Your Bank to the Philippines

You can transfer money directly from your bank to another bank.

You may transfer the money from one account to another, or you may arrange for a cashier’s check to be picked up in a branch.

If you have made this arrangement, you need to choose the branch where the money will be picked up.

When you transfer money from your bank to another bank branch, you need to remember that the exchange rate still applies.

Banks exchange money at rates they have established, and every bank will use its own rate instead of a rate you found online.

If your bank does not offer good rates, you may need to choose another option.

Send Money to the Philippines Online App
Send Money to the Philippines Online App

Send Money to the Philippines Online App

Send The Money To An Online Or Virtual Payment Account

You may choose to send the money to a friend’s online payment account for little to no fee at all.

The exchange rate and fees from one country to another differ depending on the type of account you have.

You can expect your recipient to lose a bit of their money to fees, but you can add money to your transfer to help make up for the difference.

Dos And Don’ts of Transferring Money To The Philippines

When you are planning to send money overseas, there are a few rules that you must follow.

These rules are meant to help you save money.

Plus, you will find that it is much easier to check off this list while planning your transfer.

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How to Send Money To The Philippines:

  • Send cash to a local branch or transfer office when possible. Check the location to be sure it is the right place.
  • Send money with a company that charges low or no fees.
  • Check the exchange rate before the money is sent. Some companies offer better rates than others.
  • Make sure your bank does business with the Philippines.
  • Ask your bank if they can arrange for a cashier’s check to be picked up in the branch.
  • Use an online or virtual payment if you think that would be easier for everyone.

When Exchanging Money To Philippines Don’t:

  • Send money without checking the fee schedule. You may be charged a fee to send the money and to pick up the money.
  • Send money to a bank account without checking the routing number and account number.
  • Accept an exchange rate without doing your research first.
  • Send money without getting a receipt.
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When Sending Money To Philippines

When you are sending money overseas, you need to make sure that you can get that money to your friends in the Philippines as cheaply as possible.

You can use your bank or an online payment account.

You might choose a transfer office that you think will help, or you could have the money send via a company that handles online payroll accounts.

Money transfers can be cheap, but you need to check the exchange rates, ask about fees, and do your research before going to the bank or a transfer office.

What is the Best Transfer Method Overall?

Taking everything into account, it can be said that online money transfer services are the most convenient method to transfer money from the USA to other countries.

Services like PayPal, TransferWise and Payoneer are fast, reliable and very easy to use.

For those reasons, they are our go-to method for transferring money to the Philippines.