If you're looking for how to send money from Australia to Philippines, you've come to the right place! In this article, you'll learn the best remittance options you have when you send money to Philippines from Australia so you can save more. Wherever you are in Australia, comparing multiple money transfer companies and choosing the perfect match to suit your needs has never been easier with the launch of CompareRemit in Australia. To make things more convenient for you, we picked the best money transfer services for sending money to the Philippines from Australia that are safe, competitive, and affordable.
Keep in mind that the rates will be based on 500 Australian dollars sent to the Philippines, with the cost of remittance and exchange rate margin based on the data from the World Bank and the respective money transfer companies as listed on CompareRemit.
How do you send money to the Philippines? Here are some of the top online remittance companies offering the best AUD to PHP today to consider when sending money to the Philippines. Transferring money online is the cheapest way to send money to Philippines!
1. Panda Remit
Panda Remit is a reliable and quick way to send money online with a 100% money transfer guarantee. Whether you are sending money to support your family that lives overseas, need to re-pay a loan, sell a property, or recharge an online shopping e-wallet, Panda Remit will help clients send money in an easy, secure and fast way. They are an international remittance company that was founded in Hong Kong by Wo Transfer (HK) Limited. They serve millions of global clients and offer some of the most flexible sending and receiving methods along with excellent 1 AUD to PHP peso exchange rates.
Panda Remit's best features include:
With more than 80 years of experience transferring money from one place to another, MoneyGram has established itself as an authority in the industry. With MoneyGram, you can choose from wide range of ways to send and receive money when sending money to Philippines.
You can send money from Australia through either traditional remittance options or via online channels. The former will cost you 8 AUD to send 500 AUD but will be available just minutes after the transfer. Meanwhile, using online services through your debit or credit card account will significantly reduce the fee. MoneyGram's PHP to AUD exchange rates are competitive along with lower transaction fees such as 1AUD.
To receive cash from Australia, MoneyGram gives you the freedom to choose how you will get your money:
For BPAY users, remittances through MoneyGram might take two to four days to become available.
InstaReM's biggest selling point is that it can transfer money from Australia to the Philippines with "zero fees and zero margins on overseas transfers." In reality, does it really deliver to its promise?
Based on the World Bank's data, InstaReM only bills 2.50 AUD for every 500 AUD you send to the Philippines. In addition, the company promises a low exchange rate AUD to PHP margin of 0.15 percent.
Compared to other remitters, InstaReM definitely delivers to its promise, allowing up to a little over 18,000 Philippines peso to be received in the Philippines. You can also take advantage of their first-time promo and referral bonuses.
While it excels in cutting the cost of remittance, it comes with a few setbacks. To send money through InstaReM, you need to create an account and supply certain documents that are part of their know your customer (KYC) process. Verification might take up to two days or even longer so make sure you've done the registration before the time you need to send money.
Headquartered in New Zealand, OrbitRemit attracts potential money senders by offering them one of the most competitive rates in the industry. For its remittance services, one of the company's biggest advantages is the flat service fee it charges to its customers.
According to OrbitRemit's website, when you send money from Australia to Philippines online transactions have a fixed fee of 4 AUD. However, if you send above 9900 AUD, the company will waive any charges from your transaction. In addition, having a 0.88 per cent conversion margin gives you more pesos for your dollars.
One drawback of using the platform is its online-only operation. This means there will be no in-person support you can receive for any of your remittance concerns. Although you can track the movement of your money, OrbitRemit's process of sending the money to their account first before they remit it to your recipients can take up to two days. To people with immediate financial needs, this transfer speed may be too long.
5. Ria Money Transfer
Ria may not be as old as the pioneers of money transfer services all around the world, but they already have operations in more than 140 countries worldwide, including both the Philippines and Australia. Sending 500 AUD to the Philippines will cost you one of the following, depending on the method of claiming: 2 AUD for bank deposits, 3 AUD for cash pickup, and 6 AUD for door-to-door delivery.
To use Ria, you can either go to one of their numerous physical stores in the country or you can go to their website and facilitate the transfer there. Although there are no Ria branches in the Philippines, Filipino recipients can claim their proceeds to Philippine remitters like MLhuillier and Cebuana Lhuillier.
To receive bank deposits in the Philippines, beneficiaries must have an existing BDO account so their senders can directly deposit the money there. In addition, you can also do door-to-door money delivery but it will cost you more.
Before you even consider sending money via Ria, keep in mind that you must have your banking details validated. This process usually takes just 24 hours, but it can go double if you choose to register during a non-banking day.
6. Wise (formerly known as Transferwise)
Founded in 2010 by two friends in the United Kingdom, Wise has significantly grown to become one of the most prominent money sending services. Over the past few years, the platform has become aggressive in expanding its reach in providing quality service to the public.
Unlike other companies that charge a minimal fee but take advantage of a much higher exchange rate margin, Wise uses a different way to charge you for the convenience of sending money. Instead, they bill you a certain percentage of the amount you're sending plus a low flat fee. The World Bank points out that a 500 AUD transfer will cost a person around 1.60 per cent of that amount.
Using Wise 's remittance calculator on their website, a 500 AUD transfer to the Philippines can yield a little above 17,800 PHP. Around 6.48 AUD of the amount sent will be deducted as the transfer fee-or 1.30 per cent of the total amount.
While the cost may be lower than most remittance agents, Wise may not be good if the total payout will exceed 480,000 PHP or around 13,400 AUD. In addition, sending amount higher amounts will require you to use debit or credit cards, and they come in with extra fees that can blow up the cost of remittance. This is the reason why Wise is good for smaller amounts.
That depends on what you are looking for. When you send money to the Philippines, you have options. If you are looking for the cheapest way to send money to Philippines from Australia and can compromise on the speed of delivery, Wise, Orbit Remit, and InstaReM are clear winners. If you are sending money for an emergency and need the quickest transfer service, MoneyGram and Ria are the winners. Whatever your requirement; best Value, best AUD to PHP exchange rate today, ease to convert AUD to PHP, or fastest way of sending money to the Philippines from Australia, compare all the top money transfer companies side-by-side to send money online from Australia to Philippines.
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