Are you looking for the easiest and fastest way to send money to the Philippines? You've come to the right place.
While there are many delivery options when sending money to the Philippines, one popular option is to send money to the Philippine bank.
The Bank of the Philippine Islands (BPI), founded in 1851 in Manila, is the first bank in both the Philippines and Southeast Asia. It is one of the country's largest and most trusted commercial banks.
You can either directly send international money transfers and cash pick-ups to a BPI branch or a BPI payout partner to friends and family in the Philippines. It has 800 BPI branches and 5,800 Member Payout Networks.
Over 2 million Filipinos live outside of the Philippines, and many of them provide financial assistance for their families back home. The local economies throughout the country benefit from the remittances made by these immigrant workers. One common option for Filipinos staying abroad is to send money to BPI bank accounts.
However, using high-street banks and other traditional providers when sending money from overseas to a BPI location can result in delayed transfer times and costly transfer fees.
The good news is that there are specialized money transfer companies committed to transferring your money to any BPI account from outside the Philippines with ease.
You can send transfers in hours or even minutes and save money with excellent exchange rates if you use a digital money transfer specialist like Remitly or Wise. In this blog, we discuss how to send money to the Philippines and also list the top money transfer specialists.
Transferring money to a BPI account is fast, easy, and secure with money transfer companies or their money transfer apps that have flooded the market in recent times. To get started with your transfer:
Wise is a London-based online and mobile payment service company that allows customers to send money internationally from 59 countries to more than 80 countries with transparent fees and real exchange rates.
Wise is one of the best international money transfer apps. Wise is great for small to medium-sized bank transfers (up to US $10,000).
If you’re transferring to a BPI bank account, you’ll need to provide a BIC or SWIFT code along with details like the bank address.
Popular currency converter Xe provides money transfer services in 139 currencies to more than 220 nations and territories. It is a popular choice for international transfers due to its low fees and competitive exchange rates.
To make the transfer, you will need to provide your recipient’s name, address, bank name, bank account number, and BIC/SWIFT code. You can get a quote for your chosen currency. With XE, you can transfer money more cheaply than with a bank.
Remitly is a US-based international money transfer service that allows users in 21 countries to send money over 100 countries. It mainly helps immigrants who are looking for cheap, convenient, and fast money transfer services.
Remitly can be considered one of the cheapest money transfer services in the Philippines. It supports cash delivery and cash pick-up to BPI locations in the Philippines from several countries. You can send money to the Philippines from the USA (USD to PHP), Canada, the UK (GBP to PHP), Germany, Australia, Singapore, Italy, and the Netherlands.
Instarem is a Singapore-based online remittance service that offers affordable and quick online international money transfers to more than 60 different countries through its extensive global network of over 8000 institutions.
Much like Wise, their exchange rates are sourced from Reuters, and their transfer fees are always shown upfront. It notably offers great prices from Canada, the EU, and the US. Although it doesn't deal directly with cash payout providers in the Philippines, you can send money to BPI bank and then pick up your cash at a BPI payout agent there.
Panda Remit is a Hong Kong-based remittance service provider that offers affordable international money transfer services to more than 30 countries with competitive exchange rates and no hidden fees.
It allows for both cash pickup and cash delivery to BPI locations in the Philippines. It also waives fixed fees and provides exceptional rates for sending money to the Philippines.
Pangea is a remittance service provider that facilitates simple, safe, and cheap international money transfers from the U.S. to 40 countries.
Pangea is not available in all U.S. states. Check to see if it's accessible in the states where you reside.
With the ability to integrate with any third party, Pangea's digital-first remittance platform enables partners to provide international money transfers through their partner apps or websites.
Since exchange rates fluctuate all the time and there are several money transfer companies, each with their benefits and downsides, it is best to compare your options. To find the best international money transfer specialist, compare money transfer services to send money to the Philippines today!
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