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Send Money to the Philippines from Australia

Find your cheapest option to transfer money to The Philippines with the best exchange rates.

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, updated on August 18th, 2023       

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Find the best way to send money to the Philippines

When you’re wanting to send money to family or friends in the Philippines, it’s important to be on the lookout for cheap exchange rates, low fees and a simple transfer process. Compare a range of international money transfer providers here with Savvy to help you find the best exchange rates and lowest fees available. Consider a range of options with us before getting your international money transfer underway today.

site-logos OFX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $250 1-3 days $0 50+
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Special Offer: 5 fee free transfers (saving you up to $75 in fees) + preferential rates for international money transfers

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site-logos Instarem
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $1 Within minutes From 0% to 1% 55+
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Enjoy $40 bonus on your first money transfers of $250 & above! Use code*: SAVVY20X2 (Minimum transfer of AUD 250 Valid till 31st August 2023)

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site-logos Xe
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1-3 days From $0 100
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Xe is a 2021 Canstar Award Winner and offers the best exchange rates, low to no fees so customers save the most money

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site-logos Western Union Money Transfer
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1 - 2 days $0 35
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Send money to over 200 countries and territories across the world online

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site-logos Wise Money Transfer
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1-3 days From 0.41% 53
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Send money cheaper and easier with Wise with no hidden fees.

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site-logos TorFX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $200 0-2 days $0 35
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Excellent exchange rates with no transfer fees. Trusted by over 325,000 customers. Awarded Canstar’s 5 star rating 2018-2021.

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site-logos Currencyfair
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $5 Within minutes From $0 20+
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Send money overseas at better exchange rates, with no hidden fees.

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site-logos Remitly
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 0-2 days From $0 21
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Remitly offers fast, safe and secure money transfers with excellent rates to over 100 countries

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site-logos Revolut
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 Within minutes From $0 27+
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Fast and easy, with super competitive rates across all major currencies. Join 25+ million customers saving on global transfers.

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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.

If you decide to initiate a money transfer with one of the providers listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the provider offering that product.

More about how to send money to the Philippines

What are my options for sending money to the Philippines?

There’s a range of ways you can send money to the Philippines. Out of all these options, though, the quickest and cheapest way to send money to the Philippines will be through an international money transfer service.

Compared to banks, who’ll charge a transfer fee ranging from $6 right up to $30, transfer companies impose lower fees and offer better money exchange rates. The margin they add to your exchange rate is often far less than the margin imposed by major banks, too. They’re also much quicker to process transfers than banks, who may take up to five days compared to online providers typically completing them within two (and as soon as seconds after you send your transfer in some cases).

Savvy has partnered with a panel of international money transfer providers who can get funds over to the Philippines reliably, cheaply and with a great exchange rate. Compare your options with us to find which is the best way to send money overseas to the Philippines quickly.

If your need for a speedy transfer is urgent, you could look at an instant cash transfer. This method involves booking the transfer and paying for it here in Australia but having the cash you’ve sent collected in person by your contact in the Philippines. However, this is often not the cheapest or best way to send money, as expensive additional fees will generally be charged.

You could also consider other means to send money to the Philippines, such as PayPal or sending an international money order or a cheque through the post. However, while PayPal will transfer money to another PayPal account overseas quickly, getting the money back out to the receiving bank account could take additional days, so it isn’t really an instant option if you wish to be paid quickly. Payment methods involving the post are also far less reliable, as mail can get lost or it can take days to be delivered to its destination.

How should I compare international money transfer services?

Some of the main ways to compare your international money transfer service options with Savvy include:

Exchange rate

The first comparison point to think about should be the exchange rate you’re being offered. The closer to the mid-market exchange rate on offer, the better the deal is for you. The mid-market rate is halfway between the buy price and the sell price on the international money market and represents the best rate you can get on a money transfer. Some providers will put a markup on the exchange rate in place of, or in addition to, charging fees, so it’s important to compare services with Savvy to see which can help you buy the most Philippine pesos.

Fees

The next area for comparison is the fees charged to carry out your money transfer. There are two main ways that fees can be charged: either as a set fee or a cost based on a percentage of the transfer amount. It’s important to compare different offers to determine which is the most affordable for your money transfer.

  • Set fee transfer charge: Transfer companies may charge a set fee for a transfer, ranging from $6 up to $15. Set fees can be the most economical way to send a large sum overseas. For instance, a provider such as OFX charging a set fee of $15 is affordable if you’re thinking of sending up to $10,000 to the Philippines (compared to a 0.5% fee, which would cost $50). However, some companies will be able to send transfers above a certain limit, such as $10,000, with no fees.
  • Percentage fee transfer charge: Many other transfer service providers charge a percentage fee based on how much you wish to transfer, which can range from 0.4% to 0.65% in most cases. This compares favourably to credit card providers, who may charge you up to 3% to 5% of your transfer amount if you pay through them. SingX is one example of a transfer provider who charges a small percentage fee (around 0.45%). If you’re only transferring a small amount, this can be a very cheap way to send money to the Philippines. As another example, a company which charges a 0.5% fee on a $500 transfer would only set you back $2.50.

Speed of transfer

If you use an international money transfer provider your funds will often arrive much more quickly than a bank. Some transfer companies can have your funds arrive overseas as soon as a matter of seconds after you send them, on the same day or within two days in most cases. If you need to send your funds overseas quickly, it’s worth comparing providers based on the speeds they can offer.

Location availability

Not all companies can send money to all locations in all currencies, so check if the company you choose can send money to the Philippines in the quantity you require. This is particularly important if you’re considering making a large transfer.

Method of sending and receiving your money

Some companies prefer a direct debit from your bank account to pay for your transfer and they won’t accept cash. Some will accept payment by cards, whilst others won’t. Check the method you wish to use to pay for your transfer is accepted by your preferred company. It’s also important to consider how your recipient will be able to access their funds, so you should compare providers on this basis also.

How much money can I send to the Philippines?

There’s a limit on how much money you can send to the Philippines with a bank transfer or through the international banking system. That limit is currently $19,000, but money transfer regulations in the Philippines can be complex, so make sure you’re aware of all applicable regulations and legislation before you initiate your transfer if it involves a large sum.

If you wish to send a cash gift to someone in the Philippines which is worth more than ₱250,000, you’ll have to complete a donor tax return form known as a ‘BIR 1800′. The donor tax rate for gifts over ₱250,000 is 6%, with gifts under this amount in one calendar year exempt from taxation. Your transfer company will advise you if a donor tax declaration is necessary when sending money to the Philippines.

Individual transfer companies also have transfer minimum and maximum limits. For example, minimum transfer limits range from $1 up to $250 and maximum limits range from $5,000 per day up to $500,000 or more for other major international companies. It’s important to compare these options if you’re looking to make a particularly small or large transfer.

How do I send my money to the Philippines with an international money transfer provider?

Setting up an international transfer account for the first time is a bit like opening a new bank account. The steps to do so include:

  • You’ll need to first provide your name and email address and follow the instructions on the email you’ll receive to set up your account. To comply with international anti-money-laundering regulations, you’ll have to prove your identity before sending money overseas, so have your passport and driver’s licence handy before opening your account. The process is quick and simple and should take less than five minutes to set up.
  • Once you’ve set up your account, you can go ahead and arrange your transfer. You’ll need details about the recipient such as their bank account name and number, their email address and their mobile number (in some cases).
  • Enter all the required details, how much you wish to transfer and review your quotation before sending the money off.
  • You should receive a confirmation email or notification including a tracking number. Make sure you keep this safe in case there are any issues with your transfer in the future. After you’ve sent your funds, it’s very hard to cancel an international transfer if you’ve made a mistake, so check details carefully before authorising it.

Can I send money to someone in the Philippines who doesn’t have a bank account?

Yes – there are ways to send money to someone in the Philippines who doesn’t have a bank account, with one such way being an instant cash transfer. To send a cash transfer, you’ll need to know the exact name of the person who’ll collect the money as it appears on their government-issued ID, which they’ll have to show when they turn up to collect their money. You can pay for the cash transfer either by EFTPOS using a debit card or in cash. However, as mentioned, cash transfers can be expensive, meaning they may not always be the most affordable option available to you.

Another way to send money to someone without a bank account is by sending a mobile phone recharge through a telecommunications company. All you’ll need is your recipient’s account name and mobile number. This method is quick and simple, but also often comes with lower exchange rates and higher fees. The money can only be added to their mobile phone's pre-paid card, rather than be available to use as cash.

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Top tips for saving money on your transfer to the Philippines

Compare often with Savvy

Comparisons with Savvy are always free, so check back in with us as often as needed, especially before you complete your next transfer, to make sure you get the best deal. You can connect to your provider directly through Savvy, so you can get the process started today once you decide on which offer is best for you.

Look out for introductory offers

Some companies offer the first one or two transfers free or offer a preferential exchange rate on the first transfer (to attract new clients). Such offers can be a very cheap way to send money to the Philippines, so keep an eye out for special offers as you’re comparing services.

Get to know the exchange rate and set up an alert

Many international exchange companies offer the ability to set up exchange rate alerts that are linked directly to the live international foreign exchange market. You could set up a rate alert to notify you when the exchange rate reaches a certain point, so you’ll know it’s time to complete your transfer with the best exchange rate possible.

Use an international account to store pesos

In conjunction with an exchange rate alert, you could transfer Australian dollars to Philippine pesos all in one transaction when the exchange rate is at its peak, store them in an international account and transfer them to the Philippines when needed. This is also a good insurance policy if the exchange rate is falling.

Use other currency tools to reduce your costs

Other currency tools can also help you get the best exchange rate possible and reduce your transfer costs. These include exchange rate guarantees and limit orders (which ensure your transfer only goes through at an exchange rate you set). If you think you’ll be regularly sending money to the Philippines, such as for a recurring order of goods, you may also be able to set up a forward contract, which can lock in the exchange rate you receive for a period of up to 12 months or more. This is the equivalent of locking in your home mortgage with a fixed mortgage rate and can offer protection to you if the exchange rate is moving unfavourably against you.

More of your questions about international money transfers to the Philippines

Is it safe to transfer money to the Philippines?

It’s safe to use any one of Savvy’s trusted transfer partners to send money to the Philippines. They’re all registered, licenced and reputable companies you can trust to safely send your money to the Philippines. In addition, high-level data protection methods are used to ensure your details and account numbers are kept encrypted and safe.

Am I guaranteed to get the exchange rate I’m quoted when I send my transfer?

Most international transfer companies will give a rate guarantee when they give you a quote. This guarantee will usually be good for 24 hours up to 36, so you know exactly what exchange rate you’ll achieve for your transfer. With companies that specialise in business transfers, you may also be able to set a limit order, which is an instruction that your transfer is to be carried out when the exchange rate hits a defined limit. Forward contracts are also commonly used by businesses who engage in international money transfers frequently.

Will my transfer to the Philippines be reported if I send over $10,000?

Yes – all money transfers leaving Australia over $10,000 have to be reported to AUSTRAC, which is the Australian Government’s anti-money-laundering agency. To ensure compliance with AUSTRAC regulations, you may be asked to supply additional information if you are intending to send more than $10,000 to the Philippines. For example, if you’re buying property in Manila, you may be asked to show a copy of the purchase contract. If you’re paying for goods being manufactured, you may be asked to supply a copy of the sales contract or order form.

Can I use Apple Pay to send money to the Philippines?

Apple Pay is currently accepted only by a minority of transfer providers. When using a credit card through Apple Pay, though, you could be subject to high fees. Using EFTPOS or a direct debit with your international money transfer provider would be a far cheaper option than using your credit card through Apple Pay.

Will my recipient have to pay a fee to receive the transfer?

If you use a bank transfer to send your money, it’s possible that the receiving bank will charge an international receiving fee for that transfer. This can be as high as $30, but fees range widely between different banks. However, your recipient won’t have to pay a fee to receive their money if you use an international transfer service, as many transfer companies don’t use the SWIFT banking system so your transfer is fee-free at the receiving end.

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Disclaimer and important things you should know

Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.

We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.

For more information about us and how we conduct our business, you can read our privacy policy and terms of use.

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