The Wise Travel Card: Your Perfect Companion for International Travel

For generations, the United States of America has been a haven of opportunities and dreams for Nepalis—a place to pursue education, build a career, and weave a brighter future. If you are reading this, you are probably among the hard-working Nepalis living in the US, hustling and juggling to support your family back home in Nepal.No matter how far you live, your heart always belongs to your home, Nepal. You keep sending money home frequently to support your parents, pay for your siblings’ education, or help with the household expenses. Every dollar you send makes a real difference for your loved ones.But the real challenge you face is high fees, low exchange rates, or slow transfer service. You deserve a quick, affordable, and trustworthy service. That is where this guide comes in.We will show you the best ways to send money to Nepal, which will help you save on exchange fees and provide the best exchange rates.How Does Remittance Work?The remittance process is quite simple. When you send money from the US to Nepal, you have to initiate the transfer through an app, bank, or agent. You pay the money in USD and the provider converts it into NPR.The provider is responsible for handling the currency exchange and moving the funds to Nepal. The transfer can be done instantly by picking up the cash, or it may take a couple of days if you choose to deposit it in the bank.Whichever method you choose, cash pickup, app transfer, or bank deposit, your family in Nepal receives the money in the promised time.Despite that, all services are not equal. Banks are a great way to transfer money, but they charge a higher transfer fee and are slower than apps. Online apps are the best option for low transfer fees and speed. On the contrary, cash pickup is the top choice for urgent requirements. They are reliable yet expensive.Remember, it is essential to find out the best way to send money to Nepal before initiating the process.Key Factors When Sending USD to NepalExchange rateCertain forex providers on the internet offer “zero-free” transfer options, but they give low exchange rates in return. It is recommended to find the best rate using a reliable platform to check the best rates.Even a small difference in the exchange rate can gradually cost you and your family lots of NPRs.Transfer feesThere are two types of transfer fees—flat fees and percentage-based fees. Flat fees are a fixed price per transfer, whereas percentage-based fees are a percentage of your transaction amount. Both types have certain benefits. Look at the table below to understand better through an example on the different amounts you will send and when a certain option is better:Send AmountFlat Fee ($5)Percent Fee (3%)Better Option$100$5$3Percent fee$500$5$15Flat Fee$1,000$5$30Flat FeeAlways check the flat fee and the percentage fee of the provider before sending money.SpeedSome services deliver the cash instantly, but you will have to pay high transfer fees for the speed. If you can wait for a couple of days, regular remittance offers better exchange rates with lower transfer fees. Fast transfers can also have hidden charges, like receiving costs in Nepal; always check for them in the itemized bill before sending money.Step-by-Step Guide to Send Money to NepalTransferring money to Nepal is not complex. All you have to do is follow these three simple steps to send money.Step 1: Find the best rateIt is crucial to compare the exchange rates of different providers and choose the one that offers a high exchange rate but a low transfer fee. Use a comparison tool like CompareRemit to get the best NPR exchange rate. It shows you different providers, exchange rates, transfer fees, transfer time, and the amount that you will receive.Step 2: Send the moneyThe two best ways to send money to Nepal are online transfer and cash pickup. You must know by now that online transfer offers low transfer fees. You can choose from providers like Remitly and Wise to send money to Nepal.When your family needs money urgently, you can choose cash pickup. All you have to do is visit the agent in the US, deposit the money, and your family can instantly pick up the cash in Nepal from over 15,000+ locations.Step 3: Keep track of your transferEvery time you transfer the money, you will get an email or SMS confirmation. If you have deposited the money but haven’t received the confirmation, reach out to the provider immediately.Once the money is ready to be picked up, you will be notified. You can inform your family to get it. When your family is taking the money in cash, ask them to check if the agent has deducted any extra charges. In case of bank transfers, ask them to always check if the full amount has been credited or not. Some intermediary banks keep their cut.Transfer Money to Nepal with ConfidenceThe best money transfer to Nepal method should be easy, quick, and affordable. By choosing the right provider, you can maximize your USD to NPR exchange, providing your family with more money over time. Regardless of your transfer mode—online, bank deposit, or cash pickup, always ensure to compare the exchange rate. To get the best USD to NPR exchange rate available, use CompareRemit. It is an easy-to-use and reliable platform that finds the highest exchange rate and lowest transfer fee.Frequently Asked Questions About USD to NPR TransfersQ: Which remit is best to send money to Nepal?CompareRemit helps you find the best remittance service among various providers to send money to Nepal.Q: Is Remitly safe to send money to Nepal?Yes, Remitly is licensed and secure for money transfers.Q: Why did my family receive less than I sent?Your family may receive less NPR than you sent due to hidden charges. Always check with the provider about extra costs.Q: What is the best exchange rate for USD to NPR?The highest exchange rate for USD to NPR has been 1 USD = 140.13 NPR on 7th February, 2025.Q: Which currency is the highest in Nepal?As of now, USD holds the highest value against NPR. Use CompareRemit's NPR exchange rate calculator to find the value of USD to NPR.

Sending money abroad might seem puzzling for some, but it is undoubtedly secure. One key component that makes international money transfers so secure is the SWIFT network, which is used for most cross-border transactions.If you are wondering what a SWIFT code is, how it works, and why it is so important, you have landed in the right place. In this guide, we will tell you everything that you need to know about SWIFT codes and how they ensure your international transfers are secure and reliable.What Is the SWIFT System?SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. It is a global messaging system used by banks and other financial institutions to exchange information smoothly, accurately, and securely.The system doesn’t perform the transfer itself—it simply passes along the instructions for fund transfers between banks and, in some cases, through intermediary institutions as well.What Is a SWIFT Code?A SWIFT code, famously called Bank Identification Code (BIC), is a unique identifier assigned to banks and financial institutions globally. It is used to send and receive funds internationally and to securely communicate between banks.Each SWIFT code is typically 8 to 11 characters long and contains information about the bank, its country, city, and branch. It is an alphanumeric code.For example, the SWIFT code for Wells Fargo in the US is WFBIUS6WFFX. The first four letters represent the bank, followed by the country code. The next two characters are the city code, and the final four are the branch code.Why Are SWIFT Codes Important?Think of SWIFT codes as your bank's international address. Just like you need a street address to send or receive a letter, your bank also needs a SWIFT code to transfer money internationally.The SWIFT code ensures that every time you send money internationally, it reaches the right place. Whether you are sending money back home to your loved ones or paying a business overseas, using the right SWIFT code keeps your transfer secure and smooth.How Do SWIFT Codes Work?When you initiate an international fund transfer, your bank sends a SWIFT message to the recipient's bank with the details, such as your bank account number and the amount of money you are transferring. The recipient's bank then verifies the information before processing the transfer. This process ensures your money is transferred to the right account, irrespective of where it is going.Despite the rise of real-time payments, transfers using the SWIFT system can take five days or even longer because it involves account verification. Your bank may also charge a small fee for a SWIFT payment, subject to wire transfer costs.How to Find Your Bank's SWIFT CodeFinding your bank's SWIFT code is just as simple as making SWIFT transfers. There are multiple ways to find it:Visit your bank's official website.Check your bank account statement, also known as a passbook.Contact your bank's customer service.Use an online SWIFT code checker tool.It's important to have a SWIFT code and ensure that you have the right one each time you make an international transfer. Providing the wrong SWIFT code to the bank could result in your money being sent to the wrong bank account.How to Avoid Common SWIFT Transfer Mistakes?Even minor errors in international money transfers can result in delays or lost funds. Here’s how to avoid common pitfalls when dealing with a SWIFT code:Always double-check the recipient's SWIFT code and bank details before initiating the transaction.Don't confuse the SWIFT code with an IBAN—they serve different purposes depending on the country and type of transaction.Ensure you provide complete information about the recipient or intermediary banks to avoid delay or failure in the transaction. It's a good practice to verify all requirements with the recipient's bank ahead of time so that you don't miss any essential information or steps.Common Issues and How to Resolve Them in SWIFT TransactionsWhile SWIFT is a secure and reliable system, international money transfers don’t always go as planned. Here are some common challenges and ways to resolve them efficiently:SWIFT transfers may experience delays, incur unexpected fees, or even get rejected. Delays are often caused by intermediary banks or bank holidays. To track a transaction, you can request an MT103 from your bank. An MT103 is a standardized SWIFT message used to send money internationally—it acts as proof of payment.Transfer fees may vary depending on who is paying—the sender, the recipient, or both—so it is crucial to clarify the fees upfront before confirming a transaction. Additionally, exchange rates may also differ from the market rates, so compare them beforehand.If your transfer fails, your funds are usually returned to you minus the transfer fee. It is important to use a reliable remittance service provider and keep a record of your transactions so that you don't have to worry later.What If My Bank Doesn't Have a SWIFT Code?Not all financial institutions are part of the SWIFT network. If your bank does not have a SWIFT code, it may use an intermediary bank to process the transfer.In such cases, you might be charged an extra fee and experience a longer processing time. Always double-check this before finalizing your transfer.SWIFT Code vs IBANIBAN stands for International Bank Account Number. While SWIFT codes and IBANs are the same, for transferring money internationally, they serve different purposes.A SWIFT code helps identify a specific bank branch, whereas an IBAN helps identify a particular account within that bank. When transferring money to certain countries, you might need both the SWIFT code and the IBAN.Reasons to Use a SWIFT Code for International TransfersThere are three main reasons why SWIFT codes are essential for international transfers:Security: Each SWIFT code is unique, ensuring every transaction is secure and encrypted.Global reach: SWIFT connects more than 11,000 banks and financial institutions globally, making it easy to transfer money anywhere in the world.Speed: While SWIFT transfer may take some time, it is still faster than many other money transfer methods.Wrapping UpNavigating international fund transfers is simple and straightforward when you understand how SWIFT codes work. Using the correct SWIFT code—and IBAN where applicable—helps ensure your money reaches the correct account, smoothly and securely.Are you ready to make your next international fund transfer smooth and secure? Visit CompareRemit today to find the best exchange rates with the lowest transfer fees to send money to your loved ones anywhere in the world. Stop second-guessing and start comparing!Frequently Asked Questions (FAQs)Q: Who pays SWIFT charges?SWIFT charges can be paid by the sender, the recipient, or split between them, depending on the agreed-upon terms of the transaction. The codes used within the SWIFT messaging control this. So, the sender can choose to pay all fees, the receiver can pay all fees, or they can share the fees.Q: Is SWIFT proof of payment?A SWIFT code identifies the receiving bank, but it is the MT103 SWIFT message, generated during the transfer, that serves as the actual proof of payment. This document outlines key transaction details, confirming the transfer has been initiated and processed.Q: What is the SWIFT payment fee?SWIFT payment fees are variable. They consist of charges from the sending bank, potential intermediary banks, and the receiving bank, with additional costs possible for currency conversion. These fees fluctuate based on the transfer amount, destination, and the banks involved.Q: Is SWIFT code the same for all branches?No, SWIFT codes aren’t always the same across all branches of a bank. Some banks use one universal code, while others assign unique codes to each branch. If in doubt, it’s usually safe to use the SWIFT code of the bank’s main office.Q: Can banks transfer money without a SWIFT code?Generally, SWIFT codes are required for international bank transfers. Most banks are part of the SWIFT network, and their codes can be found on official bank websites, statements, or through customer service. Because SWIFT is the global standard for messaging systems, most cross-border transfers rely on it for security and accuracy.

If you are planning to travel to the Philippines, support loved ones through remittances, or manage cross-border business payments, you need to first understand the Philippines' currency. The Philippine Peso or PHP is the official currency of the country.The peso is more than a medium of exchange. It's a key part of everyday life in the Philippines. From bustling street markets in Manila to online shopping platforms and bank transfers from abroad, the peso is used in both traditional and modern ways. Knowing how the Ph currency works—its denominations, symbols, value trends, and where to exchange it—can help you save money, avoid scams, and ensure smoother transactions.In this guide, you will get a full breakdown of PHP—how PHP evolved, how it's used today, how to read exchange rates, and tips for getting the best deal when you are converting your money. What Currency Is PHP?The Philippine Peso—locally known as Piso—is the official currency of the Philippines. It uses the code PHP and the symbol ₱. Each peso is made up of 100 centavos, which you might hear called ‘sentimos’ in Filipino.Over the years, the peso has seen a lot—from Spanish coins to quirky WWII “Mickey Mouse Money.” Today, it’s issued by the Bangko Sentral ng Pilipinas and features everything from national heroes to iconic landmarks and native wildlife.What to Know Before Sending Money to the PhilippinesIf you are sending money to the Philippines for the first time, it's important to know how the process works beyond just the exchange rate. Here are some key factors to consider to ensure a smooth, cost-effective transfer:Ease of transfer: Transferring money to PHP is usually smooth on some reputable and famous platforms. You can use an exchange rate calculator to see such top platforms.Speed and cost: Transfers can take anywhere from minutes to a couple of business days, depending on the provider. Costs vary—some services offer better rates but slower delivery, while others charge higher fees for instant transfers.Roadblocks to watch for:Hidden fees: Some providers may offer attractive exchange rates on the front, but deduct their fees in the backend. Always check the net amount your recipient will receive.Exchange rate lock: All platforms don't lock the rates at the time of transfer. Rates may change by the time the recipient receives the money, unless you have used a service that allows you to lock the rate at the time of transfer.Daily transfer limits: Some services have a limit on how much you can send in a day or in a transaction, especially for new users.What Is the Philippines Currency Exchange Rate?The USD to PHP exchange rate stood still at 2 PHP per USD from 1946 to 1962. Under the pegged system, the currency substantially depreciated. By 1966, it was being traded at 20 PHP per 1 USD. The black market exchange rate for the PH currency was higher than the official rate during this period.After the New Central Bank Act in 1993, the Philippine Peso became a floating currency. This brought stability to the currency, and the black market also finally disappeared.The Peso depreciated in the early 1990s to 28 PHP per USD. In the history of the USD to PHP exchange rate, the value of Ph currency depreciated to its lowest at 56.341 PHP per USD.What Factors Affect the Currency Exchange Rates?The fluctuating exchange rate between the Philippine Peso and the USD is due to complex economic factors. Since PHP is a floating currency, market forces determine its value. These include the Philippines' economic performance, interest rates set by the Bangko Sentral ng Pilipinas (BSP), inflation rates, and the country's trade balance. Political stability and investor confidence also play significant roles. When the Philippine economy is strong, with growth and low inflation, the PHP tends to appreciate. On the contrary, economic downturns, political instability, or high inflation can lead to depreciation. Global economic conditions, such as US interest rate changes or global market volatility, also impact the exchange rate. The supply and demand of each currency in the foreign exchange market, influenced by trade flows and investment activities, ultimately dictate the prevailing exchange rate.Tips for Sending Money to the PhilippinesThe Philippine Peso is a floating currency—its value changes constantly based on the market’s demand and supply. As of now, 1 USD is trading at approximately 57 PHP, but the rates keep shifting.To get the highest rate when exchanging or transferring money to the Philippines from the US, it is recommended to follow these steps:Use online platforms to compare the rates offered by various remittance providers.Compare the transfer fees and speed of the transfer.Many providers impose hidden costs. Always check the final amount you will receive after the transfer.Set alerts to get notified when the exchange rate hits your desired figure.Stay updated on the PH currency exchange rates to know the best time to transfer money to get a higher amount. Use reliable services like Remitly, Wise, Xoom, or any of the other reputable money transfer companies on CompareRemit.Summing Up the PH CurrencyUnderstanding the Philippines currency is key to making smarter financial decisions—whether you are sending remittances, managing international expenses, or simply planning a trip. From knowing how exchange rates fluctuate to choosing the right time to transfer money, small moves can lead to big savings. With the right tools, you can avoid hidden fees and make every peso go further.That's where CompareRemit comes in. Our platform helps you compare real-time exchange rates, fees, and transfer speeds across top remittance providers—all in one place. So you don’t just send money to the Philippines—you send it smarter.Frequently Asked Questions (FAQs)Q: Why is the Philippine Peso called Piso?The term ‘Piso’ is Filipino for the Philippine Peso. It was introduced in the 1960s.Q: Can I use USD in the Philippines?While US dollars are accepted in some tourist areas, hotels, and major establishments, they aren’t widely used for everyday transactions. It’s best to carry Philippine pesos (PHP) for convenience, especially when shopping locally or traveling outside major cities.Q: How can I get the best exchange rate when sending money to the Philippines?To get the best rate, compare offers from multiple remittance services instead of sticking with just one provider. Tools like CompareRemit help you easily track real-time exchange rates, transfer fees, and delivery times so you can choose the most cost-effective option for your needs.Q: What is the highest rate of USD to PHP in history?The highest recorded exchange rate of USD to PHP was ₱59.21 per $1, reached on September 28, 2022. Over the past decade, the peso gradually weakened, from ₱40 in 2013 to over ₱50 by 2017, and ₱54.40 in 2018. Although the peso briefly strengthened to around ₱47.70 in 2021, it sharply declined again in 2022, hitting its all-time high before stabilizing around ₱55–₱56 in early 2023.Q: What is the best time to exchange dollars for Philippine pesos?There’s no single “perfect” time, but generally, exchange rates are more favorable on weekdays when the forex market is most active—especially between 12:00 to 15:00 GMT, when trading volume peaks. If you're converting USD to PHP, weekends sometimes offer a better USD rate due to lower currency flow. Keep an eye on real-time exchange rates and market trends to convert when the dollar is strongest.