How to Send Money to the Philippines: Costs, Options and Tips

To send money to the Philippines, you pick a channel (bank, money transfer company, e-wallet or cash pickup), enter the receiver’s details, and pay in your home currency. The real cost is the fee plus the exchange rate margin. World Bank data for sending US$200 shows average total costs from 3.04% to 12.88% depending on the country you send from. Compare the pesos the receiver gets, because the fee alone can mislead.

How big are remittances to the Philippines?

BSP data, as reported by the Philippine Tribune, puts personal remittances at US$39.619 billion in 2025, about 7.3% of GDP. BSP data also shows that cash remittances sent through banks reached about US$35.63 billion in 2025 (preliminary), up from about US$34.49 billion in 2024, a rise of about 3.3%.

The latest month in the BSP table is August 2026. Cash remittances were US$3.035 billion, and from January to August 2026 they totalled US$23.424 billion. These 2026 figures are preliminary.

One caution about these numbers. They count flows through banks only. They leave out informal channels, so they are not the total of all money sent home.

How much does it cost to send money to the Philippines?

The cost depends on where you send from. The World Bank’s Remittance Prices Worldwide database tracks the total cost of sending US$200. The latest quarter shown on its site when we checked was the third quarter of 2025. The table shows the average total cost in each corridor.

Sending from	Average total cost, % of US$200	Total cost in USD
United States	4.52%	9.03
Saudi Arabia	3.82%	7.64
United Arab Emirates	3.04%	6.08
Singapore	3.16%	6.33
Japan	12.88%	25.76

Source: World Bank Remittance Prices Worldwide, Q3 2025, data collected in August and early September 2025. Newer figures may be available.

These are averages, not the price from any one company. Japan’s average is much higher than the others, and the World Bank figures do not tell you which providers are cheap or expensive in that corridor. Open the corridor page for your country to see individual providers.

What does “total cost” include?

Total cost has two main parts.

• The fee. The charge the provider tells you up front.
• The exchange rate margin. The gap between the real market exchange rate and the rate the provider gives you. This is often not shown as a fee, but you pay it because you receive fewer pesos.

A provider can advertise “zero fee” and still charge a wide margin. That is why the total matters.

What are the main ways to send money to the Philippines?

There are four common channels, plus a crypto route that carries extra risk. We could not confirm fees or speeds for individual companies, so check each provider’s own quote.

Bank transfer

You send money from your bank account to a Philippine bank account. This suits larger amounts and people who already have a bank account at both ends. Banks may add fees at both ends and apply their own exchange rate, so check with both banks and check the rate before you send.

Money transfer operator

Companies that specialise in sending money abroad. In the Philippines, remittance and transfer companies must register with the BSP before they operate, under the BSP’s rules for non-bank financial institutions. You can use the BSP Verifier tool to check whether a firm is a BSP-regulated institution.

E-wallet receiving

Some providers can deliver money to a mobile wallet in the Philippines. We could not confirm the current terms for receiving money in GCash or Maya, so check each wallet’s own pages.

Cash pickup

The receiver collects pesos in person at a partner outlet. This helps when the receiver has no bank account. The receiver may need a valid ID and a reference number from you.

Crypto and stablecoin route

Some people send US dollar stablecoins such as USDT, and the receiver sells them for pesos. This can work, but it has more steps and more ways to lose money. The receiver needs an account with a registered provider. Maya Philippines is one of the providers on the BSP’s list of virtual asset service providers. The BSP’s memo M-2026-003 says Philippine retail customers may not directly use offshore providers unless they are registered with the BSP or SEC. Transfers of PHP 50,000 or more also trigger extra information rules. A wrong network or a fake agent can mean a total loss.

If you still want to understand it, read our USDT to PHP guide, which covers networks, rates and risks. This is information, not financial advice.

What is the cheapest way to send money to the Philippines?

There is no single cheapest way. The cheapest option changes by country, by amount, by day, and by how the receiver gets the money. We do not name one provider as the cheapest, because any one name would be out of date soon.

Here is how to find the cheapest option for your own transfer:

1. Compare the total cost, not just the fee. Ask how many pesos the receiver will get.
2. Check the exchange rate. Compare the provider’s rate with a market rate from a neutral source on the same day. The gap is the margin.
3. Compare at least three options for the same amount, on the same day.
4. Check the delivery method. Cash pickup, e-wallet and bank deposit can cost different amounts.
5. Look at the World Bank database for your corridor, which lists provider quotes.
6. Confirm the provider is registered with the BSP before paying.

Do not choose only by the lowest advertised fee. If a provider charges a fixed fee per transfer, fewer larger transfers can cost less overall. Compare the total.

How do you check that a sending company is registered?

In the Philippines, remittance and transfer companies and money service businesses must register with the BSP before they operate. The BSP also publishes a tool called BSP Verifier, where you can check whether a firm is a BSP-regulated institution. Use it before you pay a company you have not used before, and do the check yourself instead of trusting a link sent to you.

Registration is not a promise of low prices or good service. It means the company is inside the rules. It is still your job to compare the cost.

If you send from another country, the company should be licensed in the country you send from. Look for the regulator’s name in the company’s footer or terms page, and search the regulator’s own register.

How can you work out the margin yourself?

You do not need special tools. Follow this method:

1. Find the market exchange rate for US dollars (or your currency) to pesos on a neutral rate site, on the day you send.
2. Take the provider’s quoted rate. Multiply the amount you are sending, after the fee, by that rate. This gives the pesos the receiver gets.
3. Multiply the same amount by the market rate. This gives the pesos at the market rate.
4. The difference between the two is the margin, in pesos.

Add the up-front fee to that difference and you have the total cost. Do the same sum for every provider, using the same amount and the same time of day, since rates move through the day.

How do you send money to the Philippines for the first time?

1. Decide how the receiver wants the money: bank account, e-wallet or cash pickup.
2. Ask the receiver for the exact details: full name as on their ID, account or wallet number, bank name, or pickup location.
3. Choose two or three providers and compare how many pesos the receiver would get.
4. Check that the provider is BSP-registered or otherwise regulated in your country.
5. Create your account and verify your ID.
6. Enter the amount and the receiver’s details. Read the final screen and check the delivery time.
7. Pay and save the reference number.
8. Send the reference number to the receiver and confirm when the money arrives.

For a first transfer, send a smaller amount to check that everything works.

Tips for OFWs sending money home

• Compare each time. Prices change. The best option last month may not be the best option now.
• Watch the rate, not just the fee. The margin is part of the cost and is easy to miss.
• Use registered providers. Be careful with anyone who contacts you first or offers a rate far better than the market. Read how to spot fake cryptocurrency for warning signs that apply to any investment offer.
• Keep records. Save receipts and reference numbers in case of a delay or dispute.
• Check the receiver’s account first. A wrong account number can cause a failed or delayed transfer.
• Do not share one-time codes with anyone, including someone who says they are from the provider.
• Know the limits. The sending country may have its own rules for large transfers.

What did the 2017 Noah Coin promise OFWs?

This site is independent and is not the 2017 NOAH COIN project. That project said its coin could cut the cost of remittances for overseas Filipino workers to nearly zero. The Philippine Embassy in Tokyo published a notice in March 2017 saying the BSP had not authorised the group to pre-sell the coin. You can read the background on our Noah Coin page. It is a reminder to check any provider’s registration before you send money.