Send Money To Philippines. Cheap And Fast Ways To Transfer Money Abroad.
Compare the best rates and fees to send money to Philippines
We only compare secure providers which we have researched, tested and approved. Important information
We only compare secure providers which we have researched, tested and approved. Important information: Although we may receive a referral fee if you choose one of these providers, it won't affect the ranking of the provider, the exchange rates or any fees you are charged. Our results are sorted in order of cheapest to most expensive cost to you. Learn more.
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What is the cheapest way to send money to Philippines?
- Wise: 2259.85 INR
- OFX: 3583.89 INR
When you are looking to send money to Philippines it's important that you calculate the total cost of your Indian Rupee to Philippine Peso transfer. You'll want to pay attention to both the upfront fee the provider shows you as well as the INR/PHP exchange rate.
Often providers will claim to have low, or even no fees, but in reality they're hidden within the exchange rate. Right now, the INR/PHP interbank rate is 0.7007. Whenever you compare fees for transferring money to Philippines, it can pay off to look at the exchange rate they offer.
For example, most traditional banks add a hidden markup to the exchange rate they offer you. If 1 INR is 0.7007 PHP, your bank can add a 3% exchange rate markup and give you a rate of 1 INR = 0.7218 PHP. Depending on how you set up your transfer this could mean that it would cost you more or your recipient could receive less.
Wise, the cheapest option, has a INR/PHP exchange rate of 0.7007 and a fee of 2259.85 INR. This would save you 1324.04 INR compared to OFX, who has a fee of 3583.89 INR.
Pricing data is collected from providers' websites, and the fee is calculated by factoring in the total cost (the transfer fee plus exchange rate margin).
What is the fastest way to send money to Philippines?
Providers in the table typically take:
- Wise: Instant-2 Days
- OFX: 1-3 Days
Typically, sending money to Philippines will be much faster using a money transfer company compared to a bank that can take 3-5 working days. The fastest provider in our table to transfer money to Philippines is Wise (Instant-2 Days).
What is the best rated provider to transfer money to Philippines?
Of the 2 providers we found for transferring money to Philippines, here’s how they stack up in terms of number of reviews and average score on TrustPilot:
- Wise: 168,317 reviews, rated 4.5/5 on Trustpilot
- OFX: 4,916 reviews, rated 4/5 on Trustpilot
Safest way to send money to Philippines
Choosing an international money transfer service can feel like a risk. However, our comparison tool will only ever recommend secure providers which operate within the law in any part of the world they're in.
When you're looking for the safest ways to send money to Philippines from India you'll usually want to look out for providers which are registered with and operate under the FCA. In some cases operators may also be regulated by the PRA. And if you're sending money with your bank, you may also read about the FSCS. Too many acronyms? Let's look at what they mean.
FCA - Financial Conduct Authority - almost all financial activities have to be authorised by the FCA. The FCA's job is to regulate and oversee financial activities to make sure standards are upheld and financial businesses are trading safely and legally.
PRA - Prudential Regulation Authority - the PRA exists to make sure banks, building societies, insurance companies and other similar financial institutions are being managed safely, to control risk and keep customer money safe.
FSCS - Financial Services Compensation Scheme - the FSCS protects customers when their bank, insurer or other eligible financial service company fails. You may be able to get compensation through the FSCS to make sure you don't lose out if your bank goes bankrupt or runs into other financial difficulties.
How to send money to Philippines?
You've got a few key options if you need to send money to Philippines:
- Bank transfer to Philippines - most banks will let you send money internationally online, by visiting a branch or by phone. Payments to PHP will be sent directly from your bank account to your recipient's local bank account in your chosen currency.
- Walk into a branch - several specialist money transmitter services operate through large branch and agent networks, so you can visit a physical store and make your PHP payment in cash if you want to.
- Send money online to Philippines - if you'd rather make your GBP/PHP payment online or using your smartphone, you can choose your own bank's online banking service, or an international payment specialist. Specialist services can often offer better exchange rates and lower fees than banks.
How to send money to another bank account in Philippines:
Sending money to another bank account in Philippines is often the most convenient option - both for you, and your recipient. Your recipient doesn't need to take any action to receive the money, it just lands in the nominated account in the currency you choose, and can be spent or withdrawn easily.
If you're sending money direct to a bank account in Philippines, choosing a specialist provider can be the cheapest and fastest way to make your payment. Different providers have their own processes for arranging payments - but the steps you'll take are usually roughly the same:
4 easy steps to send money with a money transfer provider:
- 1Create an account
Register a new account with your preferred service, by entering your contact details and some basic information. You may even be able to do this using Facebook or Google for convenience
- 2Verify your identity
Depending on the type of payment you're making, you may need to verify your account by uploading an image of your ID documents. This step helps keep your money safe, and is often a legal requirement.
- 3Top-up your account
Add money to your account in pounds, using a bank transfer or card payment.
- 4Add recipient details and send
Once you’re ready to send a payment, add your recipient’s personal and bank account details, check the exchange rate and fee applied to your payment, and confirm. That’s it - your money will now be sent, and you can track its progress online or in your provider’s app.
How can you pay for your transfer to Philippines?
Different providers offer different options to fund your international money transfer. Luckily, you have plenty to choose from.
Let's take a look at a few payment options for sending money to Philippines with these providers:
Bank transfer, card (debit or credit), SWIFT, Google Pay or Apple Pay
Bank transfer or direct debit
Details needed to send money to Philippines
The details you'll need to send money to Philippines may vary by provider. At a minimum, you will need to know the recipients name and you will typically be asked for their:
- Bank code
- Account number
INR/PHP exchange rate trends
As with many currencies, the INR/PHP exchange rate moves over time, due to changes in supply and demand.
Exchange rate fluctuations can be caused by underlying shifts in how well the economy in India or Philippines is doing. Other things that can influence the rate are the changes in political stability, or even simple speculation, where traders buy or sell currencies based on how they think trends are going to change.
Right now, 1 Indian Rupee buys 0.7007 Philippine Peso.
The average INR/PHP exchange rate over the past 7 days was 0.7007. It is 0.17% compared to the previous 7 days, when it was 0.6996.
How much will my money transfer to Philippines cost?
To send money to Philippines using one of the international money transfer providers in our tables, the fees range from 2259.85 INR with Wise to 3583.89 INR with OFX (but the fee could be even higher with a bank). The exact cost depends a lot on where you're sending money, how much you're sending, how you want to pay, and how you want the payment to be received.
Typically sending money directly to a recipient's bank account using a specialist service can be done with fairly low costs, while traditional bank wire fees can be higher. Paying for your transfer with either a credit card or cash can often mean the fees crank up, too.
When you're sending money internationally, don't forget that the overall fee you pay can include the transfer fee, an extra charge wrapped up in the exchange rate used, and third party charges like a cash advance fee from your credit card issuer.
How long does it take to transfer money to Philippines?
The length of time it takes to transfer money to Philippines depends on a variety of factors including the provider you use, how you're paying, and how you want your recipient to get the money in the end. From the providers that we display, the fastest international money transfer provider to Philippines is Wise, which can deliver the money to your recipient in PHP in Instant-2 Days. The slowest provider to send Indian Rupee to Philippines is OFX, which takes 1-3 Days to send money to Philippines.
Sending money to Philippines - The verdict
When it comes to choosing the best provider for sending money to Philippines from India, it really depends on what your needs are.
The cheapest provider shown in our comparison is Wise and the fastest is Wise. Wise can get your money to your recipient in Philippines in Instant-2 Days.
If safety is what interests you the most when it comes to picking the best international money transfer provider to Philippines, then all the providers we listed above are regulated by different financial institutions and should be safe to send money to Philippines with.
The ultimate guide on how to find the best exchange rates online
Frequently asked questions when sending money to Philippines
There's no single best way to transfer money to Philippines. It all depends on your priorities. Different providers offer a different balance of cost, speed and convenience. Using our comparison tool to check out a range of providers is a good way to painlessly find the best option for you.
You can send money to Philippines using your own bank, a specialist money transfer service, an e-wallet, or by visiting a physical money remittance store. Each option has different pros and cons, so the best for you will depend on your specific transfer and personal requirements.
You can't send money to Philippines from India for free. International transfers cost providers money to arrange, so there's always a fee somewhere to make sure that the business covers its costs and generates profit. However, many providers choose to make the fees you pay trickier to spot by adding them into the exchange rates used for transfers. That way they can advertise commission free payments, while still making some money every time.
An exchange rate shows how much you'll get when you sell one currency and buy another. However, there is no single exchange rate out there - instead, banks and financial service providers can set their own rates, which may actually include extra fees.
The best rate to use as a benchmark is the mid-market exchange rate for your currency pair. You can get this from a Google search, or using a reputable online currency converter. This is the rate that banks and payment providers get when they buy currency themselves. If the rate you're offered by a provider is different to the mid-market exchange rate that usually means there's a markup - an extra fee - being added to it. This can push up costs or mean your recipient gets less than you expect in the end.
There is no official best time to send money to Philippines and that depends on a variety of factors such as when you need to send money or when you want the funds to be received.
It’s also going to depend on a variety of other factors such as, the time when you send money or the fees you are offered by providers or banks.
Transfers made online for cash pickup, or to mobile wallets, are often available quickly - if not exactly instant. You may also be able to send an instant payment with an ewallet service. However, in both cases, you’ll probably pay a premium for the speed.
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