Best ways to send money to the Philippines

Looking for the best way to send money from Canada to family, friends or businesses in the Philippines (or even to your own overseas bank account)?

Instead of using your Canadian bank, consider money transfer specialists. They tend to offer better exchange rates and lower fees, so for the same amount of Canadian dollars you send, your recipient will receive more Philippine pesos.

Of the companies we’ve compared, Xe is among the cheapest. Need a really fast transfer? Remitly can get money to your recipient in the Philippines within minutes.

Compare money transfer companies to send money to the Philippines

What’s the best way to send money to the Philippines from Canada?

The best way to send money to the Philippines depends on whether you’re looking for cheap or fast. The cheapest money transfers will not be the fastest, and the fastest money transfers will not be cheapest, so first decide what your top priority is when searching for the best money transfer service.

The cheapest way to send money to the Philippines

Take the following steps to get the cheapest way to send money to the Philippines.

1. Go with a money transfer specialist. Money transfer specialists typically offer better exchange rates and cheaper fees than banks. They trade large volumes of currencies, which allow them to lower costs and pass on those savings to you.
2. Pay for the transfer via bank transfer. Using other payment methods, such as debit or credit card, will result in extra charges.
3. Deliver to your recipient’s bank account. Other delivery methods, such as cash pickup, home delivery and mobile wallet, usually come with extra fees.

Cheap providers offering money transfers to Philippines

• Remitly
• WorldRemit
• Xe

The fastest way to send money to the Philippines

If you’re looking for the fastest way to send money to the Philippines, do the following:

1. Choose a money transfer specialist. They can offer faster and cheaper options than banks.
2. Pay by debit or credit card. You’ll pay an extra fee, but it’ll speed up the process.
3. Deliver via cash pickup. Delivering to an agent location is often fastest. Your recipient can pick up the cash within minutes after you complete the process.

Fast providers offering money transfers to Philippines

• Remitly – within minutes
• WorldRemit – within minutes
• MoneyGram – within minutes

Example: What’s the best way to send a $200 remittance to the Philippines?

On July 28, 2023, we visited several money transfer sites and received the following quotes for a $200 remittance to the Philippines.

Keep in mind that these are examples only, and how much you’ll pay to send money to the Philippines will depend on several factors, such as the exchange rate at the time, the amount you’re sending, payment and delivery method, transfer speed and any special offers.

In this example, we aimed for the lowest fees possible for a $200 transfer, which involved paying by bank transfer and sending the remittance to the recipient’s bank account, if available.

Provider	Exchange rate (PHP per 1 CAD)	Fee	Recipient gets
Wise	41.4951	$3.47	₱8,155.03	Go to site
Remitly	40.58 (without promo) 41.59 (with promo)	$4.99 (without promo) $0.00 (with promo)	₱8,116 (without promo) ₱8,318 (with promo)	Go to site
Instarem	41.1175	$0.00	₱8,223.50	Go to site
WorldRemit	40.5345	$0.00	₱8,107	Read review
Xe	41.161	$3.99	₱8,232.21	Go to site
Remitbee	41.1109	$2.99	₱8,222.18	Read review
Western Union	40.8084	$0.00	₱8,161.68
Xoom	40.5223	$0.00	₱8,104.45
Sendwave	Not disclosed	Not disclosed	₱8,078
Simplii	40.456348	$0.00	₱8,091.27
PaySend	41.0611	$0.00	₱8,212

What’s the best remittance app to send money to the Philippines?

The best international money transfer apps to send a remittance to the Philippines will have a combination of easy user experience, affordable fees and fast transfer speeds.

The providers below have highly rated apps for both Android and iOS. Based on recent reviews for 2023, we found that Remitly and WorldRemit received the most consistent positive feedback about their simplicity, low fees and speed.

Provider	App rating	Number of downloads	Positive feedback	Negative feedback
Xe	Android: 4.8 – ★★★★★ iOS: 4.8 – ★★★★★	10m+	Easy to view rates	Difficulties with transfers going through
WorldRemit	Android: 4.6 – ★★★★★ iOS: 4.8 – ★★★★★	5m+	Low fees, quick and convenient, reliable	Long waits for customer service, technical difficulties
Remitly	Android: 4.8 – ★★★★★ iOS: 4.9 – ★★★★★	10m+	Easy to use, fast, low fees	Fee for Express and Economy service is the same, slower transfers
Wise	Android: 4.7 – ★★★★★ iOS: 4.8 – ★★★★★	10m+	Cheap, fast	Scheduling was hard to find, fees charged to transfer money to an account and to send it, technical difficulties
Instarem	Android: 4.4 – ★★★★☆ iOS: 4.2 – ★★★★☆	100k+	Easy and fast	Fees are not as competitive, technical difficulties
MoneyGram	Android: 4.5 – ★★★★★ iOS: 4.8 – ★★★★★	1m+	Fast and easy, attention to security, discount promos	Technical difficulties, not as easy to use
OFX	Android: 4.5 – ★★★★★ iOS: 4.8 – ★★★★★	100k+	Secure, excellent service, fast and easy, competitive fees	Technical difficulties, slower transactions/service
Western Union	Android: 4.2 – ★★★★☆ iOS: 4.5 – ★★★★★	500k+	Easy to use, fast transactions	Account cancelled suddenly, technical difficulties

How exchange rate and transfer fees influence cost

When you’re hunting for the best ways to send money to the Philippines, look at the overall cost of your transfer, which will consist of the following:

• Exchange rate. Many money transfer services add markups to exchange rates in order to make profit.
• Transfer fee(s). Money transfer services may charge either a fixed or percentage-based fee for making your transfer. Fees start at $0.

Providers differ in how they use these two elements. Some may offer the best exchange rate available but add fees on top. Others may have very low or zero fees but apply a markup on the exchange rate.

This is why it’s important to look at both types of charges and to compare exactly how many Philippine pesos your recipient will end up with.

CAD to PHP: What are the historical exchange rates?

Related: Find out the strongest CAD/PHP exchange rate today

What’s the safest way to send money to the Philippines?

The safest way to get your money to the Philippines is to use a provider registered with Canada’s industry regulators, Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for private money transfer services and Financial Consumer Agency of Canada (FCAC) for federally regulated financial institutions.

All of the companies we’ve compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both Canada and the Philippines.

A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot, Better Business Bureau (BBB) and similar platforms.

Tips to transfer money safely to the Philippines

• Get a receipt and transaction reference number. This allows you to track the remittance and to have a record should you encounter any issues with the transfer.
• Get the money transfer company’s policy on unsuccessful transfers. Before sending any transfers, check if they offer any protection or guarantee if your recipient doesn’t receive the right amount or it arrives late.
• Do not send money if you don’t know the recipient personally. And if you do know them personally, contact them through a phone number you know to avoid being scammed by someone pretending to be a loved one.

How to send money to the Philippines from Canada

1. Create an account.
   You’ll need to give your name, address, contact details, proof of ID and method of payment.
2. Provide your recipient’s details.
   Enter your recipient’s name and contact information. If you’re sending straight to their Philippine bank account, you’ll need the account number, SWIFT or IBAN plus their bank branch’s address.
3. Enter your transfer amount.
   Check you’re happy with the fees, exchange rates and transfer speed, then enter the amount you wish to send. Double-check the total Philippine pesos your recipient gets.
4. Complete your transfer.
   Send your money transfer to the Philippines. Keep your transaction reference number safe so you can track your transfer. Your recipient may need it too.

What details do I need to send a remittance to the Philippines?

• Photo identification. This could be a driver’s licence, passport or other Canadian government-issued ID.
• A way to pay. Your options depend on the provider’s services. Popular methods include cash, debit or credit card and bank account transfers.
• Recipient information. You’ll need their name (matching their ID) plus contact details. If sending to a Philippine bank account, you’ll need their account number, SWIFT and branch details.

What does my recipient need in order to get the money?

• Transfer number. This is the transaction reference number – sometimes called a PIN, MTCN or tracking number.
• Government-issued ID. They’ll need to provide an official ID, such as a Philippine passport, driver’s licence or Philsys ID/National ID.
• The transfer amount. Your recipient will need to know how much has been sent, usually to within 10% of the total.
• Sender information. They’ll need the sender’s name and address and the transfer’s country of origin.

Large money transfers to the Philippines

If you need to make a sizable money transfer to the Philippines, consider using a provider such as OFX to benefit from its expertise in handling larger transfer amounts.

Using a large transfer specialist can have the following advantages:

• Tax guidance. Large transfers to the Philippines may have tax implications for you or your recipient. A transfer specialist can help get you up to speed on CRA’s latest advice.
• Foreign exchange (forex) tools. Advanced tools such as forward contracts, limit orders and stop-loss orders can help you lock in the PHP exchange rate you want.
• Account manager. Some money transfer providers assign a personal account manager who can help and advise you on your transfer needs.
• Phone service. If you want to talk your transfer through with someone, providers such as OFX can give you support over the phone.

How to choose the best money transfer companies to send money to the Philippines

When choosing a money transfer provider to send money from Canada to the Philippines, it’s important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:

Exchange rates

Banks and transfer services use the mid-market rate to trade with one another. It is the best rate you can get. However, not all money transfer providers offer you this mid-market rate so compare the PHP you’re offered to the mid-market rate and look for the smallest difference.

Transfer fees

Are you being charged a flat fee or a percentage of your transfer amount? For example, a provider offering to transfer your money to the Philippines for a flat or low fee might work out better if you plan to send a large amount.

Transfer type

Does your recipient have a Philippine bank account or is cash or cell phone top-up a better option? Each transfer type will have different fees. For example, instant cash pickups tend to be more expensive than bank transfers.

Transfer speed

If you need your transfer to arrive quickly, you can pay for an express delivery. Companies such as WorldRemit offer instant cash pickups but may charge more. If you’re not in a rush, online money transfer services offer the best value and get your money to the Philippines faster and cheaper than banks.

Transfer limits

Find out how much you can send with each service. For example, Remitly has a transfer limit of $15000 while OFX allows unlimited transfers.

Discounts

Some providers may offer you a free transfer simply for signing up. Others may offer a discount if you transfer more than a specific amount of Philippine pesos.

Frequently asked questions about sending money to the Philippines

• How can I pay for my transfer to the Philippines?

  There are multiple ways to pay for your money transfer to the Philippines. The most common payment methods include bank transfer, cash, credit card and debit card. Bank transfer is often the cheapest but also the slowest.

• How long will it take for my money to arrive in the Philippines?

  The turnaround time for a money transfer to the Philippines depends on the provider and how you pay for the transfer. Expect your transfer to arrive within minutes if you pay using cash or with a debit or credit card. Paying by bank transfer can take longer – usually 2–5 days.

• Can I send money to the Philippines without a bank account?

  Yes, you can still send a money transfer if neither you nor your recipient in the Philippines has a bank account. Look at cash transfer providers such as WorldRemit where you can pay with cash and your recipient can collect it as cash or as mobile phone reload on the other end.

• How much money can I send online to the Philippines?

  This depends on the provider you choose as each will have its own sending limit. For example, services such as Wise (TransferWise) and WorldRemit allow you to transfer as little as $1 while others will have a significantly higher minimum threshold.

  Remember that some providers will have maximum transfer amounts as well, either as a result of Canadian tax policies or because their service is more limited. If you need to send a large transfer, look for a provider that has higher or no sending limits to the Philippines.

• Can I use a money transfer specialist to make a business money transfer?

  Yes. If you're looking to pay vendors, employees or commercial bills in the Philippines, you can send large business money transfers using money transfer specialists like OFX and CurrencyTransfer, which can offer more competitive rates than banks.

• Does Canada have GCash?

  Yes, you can use GCash in Canada to send money from Canada to the Philippines. That said, you'll need to have an international SIM card and be a Filipino citizen.