How to Send Money from the USA to the Philippines | Best Money Transfer Services

Last updated 28th Nov 2022
Disclosure

The estimation is that the Filipino population accounts for 10% of all immigrants in the United States. With over 4.2 million immigrants born in the Philippines, it's no wonder there's a high volume of transactions from the US to this country.

International money transfer platforms (MTPs), such as Remitly, WorldRemit, and Ria Money Transfer, are the best option for moving funds abroad quickly. This guide reviews the top MTPs to send money from the USA to the Philippines. You'll also learn the vital factors to consider when sending funds and what makes MTPs better than the alternatives!

How to Send Money from the USA to the Philippines Using a Money Transfer Provider?

The process of sending money to the Philippines from the USA by using an online money transfer service is simple. You only need to follow these three steps to execute a transaction!

Step 1: Compare Providers to Find the One That Best Fits You
Step 2: Sign Up with the Chosen Provider
Step 3: Transfer the Money

How to Send and Receive Money in The Philippines?

The sum sent to the Philippines by Filipino workers in the United States has kept increasing over the years. It was USD 7.4 billion in 2014, and it reached USD 12.74 billion in 2021.

With the remittances increasing, there's also a growing number of methods to send money from the United States to the Philippines. Here's more information about sending and receiving funds from the US!

Ways to Send Money from the USA to the Philippines

Almost half of the personal remittances to the Philippines come from the United States (40.5%). Many options are available to send money from the US, but money transfer platforms are the most popular. Here are the top options and how they compare!

Money Transfer Services

Many international money transfer platforms include the Philippines among the delivery locations when sending from the United States. Remitly, Ria Money Transfer, and WorldRemit are only some of the platforms available, and you'll be impressed with the available choices.

The main advantages of MTPs when sending money from the USA to the Philippines include the following:

  • Simplicity. You don't have to be a bank or tech expert since everything is straightforward.

  • Fast. You finish everything with a few clicks. Transfer speed varies, but most transactions are finalized in minutes or on the same day.

  • Affordable. The actual fees depend on the method and service, but MTPs generally have lower charges than the alternatives.

Money transfer platforms are secure and legal since they have all the necessary licenses to operate in the USA and the Philippines.

Wire Transfers

Digital technology accelerated things, so wire transfers are nowhere close to their earlier popularity. Not only are they slower than MTPs, but they are more expensive.

It's hard to see a point in using a pricier but slower service. Wire transfers could take a few business days to finalize, and don't forget the different time zones in the USA and the Philippines, as they could further prolong the delivery. If you have an MTP available, it's a smart decision to use it instead of these transactions.

Bank Account Transfers

One Network Bank (ONB), Metrobank, and other reputable Filipino banks all support interbank transfers from the United States. As for the US, you'll find most banks offer this option.

But the trick with international interbank transactions is they can take up to a few days. If you are sending PHPs, banks are famous for unfavorable rates. Both sides might charge a fee, resulting in the transfer being expensive for the sender. MTPs are a better option, especially since bank deposits are available with most platforms.

Challenger Banks

Challenger banks leverage digital technology to offer better services in this area than traditional banks. Tonik bank, ING, and CIMB are all available in the Philippines.

But these are small financial institutions, so their solvency is questionable. It's best to avoid them for large transactions. Challenger banks could have high fees and take days to finalize the transfer. The entire process is much smoother and simpler with money transfer platforms.

Mobile Apps and Payment Services

Alipay has proven to be a dominant option for contactless payments in the Philippines. With Google Pay and Apple Pay not available, there aren't many reputable options to send money from the USA to the Philippines with these services.

However, money transfer platforms have dedicated mobile apps that are free to download. You can use these on anything from iPhones and iPads to smartphones and tablets. They are safe, user-friendly, and suitable for sending funds to the Philippines on the go.

PayPal

Although it's been in the market since 1998, PayPal managed to keep its position among the e-payment leaders. It's a fast option to send money from the United States to the Philippines. But there are two downsides – high fees and unfavorable conversion rates when sending PHPs.

PayPal's fees go up to 5%, which is huge compared to international money transfer platforms. Although most transfers are almost instant with PayPal, MTPs are equally fast and more affordable, making them a better choice.

Money Transfers to a Pick-Up Location

This is an offline way of sending money from the USA to the Philippines. You need to visit a nearby agent of a particular service, which can be a bank branch, 7-Eleven store, etc.

Western Union has excellent coverage in both the United States and the destination country. But many users don't want to go through the hassle of heading to the store to send money. Also, the rates are often worse than when using an online MTP, making internet-based services a better option.

International Money Orders

USPS doesn't have the Philippines on the list of countries where you can send cash with international money orders. Western Union, for example, has more extensive coverage. With thousands of locations in the USA and the Philippines, WU is convenient for sending money internationally, as well as other MTPs.

What Do You Need to Send Money to the Philippines?

Sending money internationally requires similar documents regardless of the destination country. Here's what you need to deliver funds to the Philippines:

  • A registered account with the MTP. It's necessary to verify your identity with a valid ID containing a photo. You only need to register once to send money from the USA to the Philippines as many times as you want, as long as it's within the specified limits.

  • The sum required and payment method. Most platforms allow credit and debit cards, bank transfers, etc. Apart from the chosen method, you need to prepare the total amount, including applicable fees.

  • Recipient's information. You'll need a name, phone number, and the receiver's address. It's necessary to specify a bank account for these transfer types, mobile numbers for airtime top-ups, etc.

  • Proof of money origin. You can provide a salary check, property sale contract, or any other document that proves how you got the money. It's usually only necessary for large sums.

What Are the Ways of Receiving Money in the Philippines?

The Philippines is among the countries with the most delivery options when sending money from the United States. You can discuss with the receiver the method that suits them best, but get to know the available options below first!

Location Pick Up

These require the recipient to head to the specified agent to collect the funds personally. Most banks support this option, although big MTPs like Western Union might have branches available in big cities.

Receivers will need to collect the entire sum at once, meaning they'll be carrying cash. It's advisable to be cautious to avoid being a victim of theft.

Direct Bank Deposits

The receiver should provide a bank account to support this method. Some banks will even be ready to open an account for the recipient.

A notification should inform the receiver when the money is available. They can collect it via ATM or in a bank branch. It's possible to pick up the entire sum or in portions.

Cash Delivery

This is convenient if the receiver is in a rural zone far from a bank or collection point. It's also great for recipients who aren't 100% mobile, so they'd appreciate the money arriving at their doorstep. The downside is that cash deliveries are only available with limited money transfer services, and they often come with additional fees.

Mobile Deposit

GCash is among the available partners to send money from the USA to the Philippines using mobile money. The recipient needs to have this service active with their mobile network provider. GCash has over 70,000 merchants available throughout the Philippines, and the limit for monthly withdrawals is PHP 100,000.

What Do You Need to Receive Money in the Philippines?

As the sender, you might want to discuss with the recipient about the following documents they might need to collect money in the Philippines:

  • Identify confirmation. The recipient will need a valid document issued by the Filipino government, and it should contain a photo.

  • Sender's info. Some providers require giving them details about the sender, such as the name, country the money is sent from, etc.

  • Transaction details. A transaction reference number is something the sender should provide. Other details might include the amount sent, time of sending, etc.

Top Money Transfer Providers to Send Money from the USA to the Philippines

Having so many MTPs that can send money from the USA to the Philippines is both a blessing and a curse. To make your selection easier, here are the top money transfer providers when sending funds from the United States.

Money Transfer ProviderFeesDeposit MethodsPhilippines RegulatorRemitlyFrom 0%Visa, MasterCard, bank transfers, PassbookBangko Sentral ng Pilipinas (BSP)WorldRemit0% on the first three transfers (Code: 3FREE)Visa, Maestro, MasterCard, Apple Pay, bank transfersBangko Sentral ng Pilipinas (BSP)XE Money TransferFrom 0%ACH Direct Debit, Visa, MasterCard, bank transfersBangko Sentral ng Pilipinas (BSP)

Remitly – Best for One-Time and Frequent Senders

Remitly is a great choice from the sender's and receiver's perspectives. Senders will appreciate fast account creation and a user-friendly interface. Multiple delivery methods are available, ranging from bank deposits to cash collection and home delivery. The only consideration is the latter two might come with additional fees.

Advantages

  • Guaranteed delivery times, or you get the fees back

  • A special exchange rate for the first transfer

  • Helpful customer support is available 24/7

Disadvantages

  • The promotional rate is only available for the first USD 1,500

  • Higher fees are applied when sending USD

3 Steps to Start Using the Provider

  1. Begin by visiting Remitly's official site for sending money to the Philippines.

  2. Register an account and adjust the desired parameters.

  3. Finalize the transfer.

Best Alternatives

  • Western Union, Ria Money Transfer, Wise

WorldRemit – Best for Sending USD and PHP

WorldRemit works with reputable institutions in the Philippines, ranging from Metrobank and Villarica to PayMaya and PLDT. Cash delivery is great if sending money to a person who's in a rural zone or unable to collect the funds personally. You can monitor transfers in real-time to be certain of the current transaction status.

Advantages

  • 90% of all transfers are completed within 24 hours

  • Choose from multiple delivery services

  • Transparent pricing and no hidden fees

Disadvantages

  • PHP conversion rates aren't as favorable as with some competitors

  • The maximum amount per transaction is USD 5,000

3 Steps to Start Using the Provider

  1. Head to the WorldRemit website and specify PHP or USD as the receiving currency.

  2. Check the rates and choose a delivery method.

  3. Register an account and finalize the transaction.

Best Alternatives

  • TorFX, Western Union, Instarem

XE Money Transfer – Best for Sending Large Sums

XE Money Transfer doesn't apply transaction fees when sending money from the United States to the Philippines. The platform supports transferring large sums in a single transaction. But a clear pricing overview is only possible once you register, so pay attention and confirm you are okay with the terms.

Advantages

  • Favorable PHP exchange rates

  • An intuitive app to send money via Android and iOS devices

  • Bank and card deposits are usually completed on the same day

Disadvantages

  • Debit and credit cards are unavailable for higher sums

  • The direct debit transfer takes up to three business days to finalize

3 Steps to Start Using the Provider

  1. Pick PHP as the receiving currency at the official XE website.

  2. Sign up for an account to access the rates and pricing overview.

  3. Finalize the transaction if you agree with the terms.

Best Alternatives

  • Ria Money Transfer, TorFX, Western Union

What Are the Fastest Ways to Send Money from the USA to the Philippines?

Money transfer platforms offer impressive transaction speeds. Depending on the method, the money could be available almost instantly. It's worth noting it depends on the payment option used, but here are the MTPs that will process your transfer from the USA to the Philippines fastest!

Money Transfer ProviderTransfer SpeedFeesWestern UnionFrom minutes0% on the first transfer; varyRia Money TransferFrom minutes0% on the first transfer; varyWiseFrom minutesFrom USD 4.69 + 0.6%

Some platforms require choosing a fast transfer option to ensure they process the delivery in minutes, which can impose a higher fee. The platforms mentioned above have years of experience in processing international transfers, and you can rely on them to finalize your transaction quickly.

What Is the Cheapest Way to Send Money from the USA to the Philippines?

Regardless of the amount you send from the USA to the Philippines, it's smart to pick platforms that don't impose large fees on the transfer. Apart from the charges, pay attention to exchange rates if sending PHP. Here are the cheapest providers to send money to the Philippines!

Money Transfer ProviderFeesTransfer SpeedTorFX0% transaction feesWithin 24 hoursRemitlyFrom 0%From minutesXE Money TransferFrom 0%From minutes

Some services might take 24 hours or longer to process your transaction. Others impose different fees depending on the payment method used. For example, it's common that debit and credit card deposits cost more than bank transfers. The above-mentioned platforms try to keep their services affordable for all clients and options.

What Is the Safest Way to Send Money from the USA to the Philippines?

You can rest assured any service mentioned on this page is safe and legal to use. All providers have the necessary licenses and meet industry regulations. But some MTPs are aware that clients find safety to be the highest priority. Here are some providers that add more security options to their platforms!

Money Transfer ProviderExtra security optionFeesWiseSafeguarded client accountsFrom USD 4.69 + 0.6%Western UnionFraud awareness guide and 24/7 support0% on the first transfer; varyWorldRemitPartnerships with reputable institutions0% on the first three transfers (Code: 3FREE)

If the platform goes out of service, there's no need you'll lose money if the clients' funds are kept in separate accounts. Customers are often wary of fraud, so detailed guides and around-the-clock support provide peace of mind. It also helps to know when the MTP works with reputable institutions in the USA and the Philippines.

What Are the Best Apps to Send Money from the USA to the Philippines?

Apps have a twofold advantage – they allow sending money from a smartphone, tablet, or other portable devices, meaning you can transfer funds from any location. Here are the best apps if you plan to move money from the USA to the Philippines!

Money Transfer AppTransfer TimeFeesPayPalFrom minutesUp to 5%InstaremFrom minutesFrom 0%Ria Money TransferFrom minutes0% on the first transfer; vary

Most apps are actually mobile software solutions for existing money transfer platforms. Apps are free, and most have Android and iOS versions to support the majority of customers' devices. It's possible to use the existing credentials if you have an account with the chosen MTP.

Things to Consider When Sending Money from the USA to the Philippines

The law in the Philippines allows sending both the local currency and USD to this country. That decision is up to you, but here are other considerations before you finalize the transfer from the USA!

Local Authorities

The Philippines has a central bank with the official name Bangko Sentral ng Pilipinas (BSP). It's the main supervisory body in the country's financial industries. Its task is to monitor banks, money transfer platforms, and other financial services to ensure they comply with the relevant laws.

The local government also has the Department of Finance, which helps with revenue policies to keep the country's economy stable. The Philippines also has an Anti-money Laundering Council that monitors local and international transactions.

How Much You Are Sending Abroad

First, it's necessary to consider how much you are sending from the United States to the Philippines. If the sum exceeds USD 10,000 in a single fiscal year, you need to report it to the IRS. That includes completing certain forms, so it might be wise to consult a tax expert.

As for the Philippines, the local AML Council requires reporting all transactions that exceed PHP 400,000, which is roughly USD 7,600. You might need to provide additional documents to finalize the transaction.

It's worth noting money transfer platforms might have limitations, too. For example, WorldRemit has a USD 5,000 limit per transaction. Remitly imposes restrictions depending on your membership tier.

The Cost of Money Transfers

As commercial services, it's expected that money transfer platforms charge something for the transactions. The prices for sending money from the USA to the Philippines depend on the following factors:

  • Payment method. The general rule is that card deposits are more expensive. Home delivery methods might have an additional fee, too.

  • Exchange rate. All MTPs have rates lower than the mid-market level. But that can still vary, so compare the rates to find the best conversion option when sending PHP.

  • Amount sent. It depends on the platform's policy. Some charge large transactions more, while others lower or exclude fees for higher sums.

Payment Type and Reason for the Transfer

There are usually no surprises in the reasons why people send money from the USA to the Philippines. One-time senders use MTPs to deliver money for birthday, wedding, and anniversary gifts. Frequent MTPs customers send money to support their families, pay tuition, etc.

Individual transactions are more common, and you use a personal account to execute them. But if you pay as a business, you need to register a separate account for that company. It's because an entirely different set of international regulations apply to business transactions.

Safety and Security of the Provider

Complying with relevant regulations, such as the anti-money laundering requirements, and getting valid licenses from US and Filipino authorities is a must for international MTPs. These services also must use encrypted transactions and protect user data and funds.

Top security measures include using multiple protection layers, safeguarded user accounts, etc. Many websites have teams investigating potential fraud and other issues 24/7.

Tax Regulations in The Philippines

If you are a Filipino resident working in the United States, you can register as an Overseas Filipino Worker. As an OFW, the local government won't charge any taxes when sending money to the Philippines.

From the receiver's perspective, there's no difference. There aren't any applicable taxes when they get money from the US or any other country.

Other Countries to Send Money From the USA

We created some other guides you may be interested in case you are looking for sending money from the USA to another countries.

FAQ

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Aneeca Younas

Aneeca Younas

Combining her Master’s degree in Business Economics and her childhood dream was to become a journalist, Aneeca is now a writer for finance-related websites. Having years of experience with companies doing business in multiple markets, she got to know international money transfers inside and out, gladly sharing that knowledge to help readers make better-informed decisions.