Cheapest Ways to Send Money to Philippines
One of the world's top remittance recipients — here's how to maximize what your family receives.
Philippines Remittance Facts
The Philippines is one of the world's largest remittance recipients, with over $36 billion flowing in annually from Overseas Filipino Workers (OFWs) around the world. The scale and competition among providers means you can find transfer costs under 3% if you choose the right service — but rates vary significantly by sending country.
Best Options by Sending Country
From the United States
Sendwave
~1-2%One of the cheapest options for Philippines. Low fees and competitive exchange rates. Supports delivery to Philippine banks and GCash. Simple mobile app.
Remitly
~2-4%Wide delivery network: bank accounts, GCash, Maya, and cash pickup at SM, Robinsons, LBC, and thousands of locations. Economy option for lower fees.
Wise
~3-4%Transparent fees at mid-market rate. Bank deposits only (no e-wallet or cash pickup). Best for larger transfers to Philippine bank accounts.
From the United Kingdom
The UK has a large Filipino diaspora. Top options include Wise (competitive for larger amounts), Remitly, and Azimo. The GBP→PHP corridor is well-served with competitive rates typically around 2-5%.
From the Middle East (UAE, Saudi Arabia, Qatar)
Middle East→Philippines is extremely high volume due to Filipino workers in the Gulf. LuLu Exchange and Al Ansari Exchange offer competitive cash-based options. Digital transfers via Remitly and WorldRemit are increasingly available.
Delivery Options in the Philippines
Bank Deposit
BDO, BPI, Metrobank, UnionBank. Usually 1-2 business days. Widest coverage for major services.
GCash / Maya
Instant delivery to e-wallets. Growing rapidly. Supported by Sendwave, Remitly, and others. No bank account required.
Cash Pickup
LBC, Palawan Pawnshop, SM, Robinsons, 7-Eleven. Best when recipient lacks a bank or e-wallet.
Home Delivery
Some services (like LBC for certain corridors) offer cash delivery to the door. Higher fees.
Frequently Asked Questions
What is the cheapest way to send money to Philippines?
From the US, Sendwave and Remitly consistently offer the lowest total costs (1-4%) for sending to the Philippines. Always compare total cost including exchange rate margin, not just the service fee. Using e-wallet delivery (GCash/Maya) often reduces recipient-side fees compared to bank deposits.
Can I send money directly to GCash in Philippines?
Yes. Sendwave supports direct GCash delivery from the US. Remitly also supports GCash and Maya delivery. E-wallet transfers are often faster than bank deposits and reach more recipients since GCash has over 60 million registered users in the Philippines.
Cost Comparison by Provider
Total cost to send $200 to Philippines by provider
| Provider | Service Fee | FX Margin | Total Cost | Recipient Gets |
|---|---|---|---|---|
| Sendwave | $0.99 | 0.5% | $2.00 | ₱11,390 |
| Remitly Economy | $3.99 | 1.0% | $5.99 | ₱11,280 |
| Wise | $4.50 | 0.3% | $5.10 | ₱11,296 |
| Western Union | $5.00 | 2.5% | $9.99 | ₱11,120 |
| Bank Wire | $25.00 | 3.0% | $31.00 | ₱10,640 |
Worked example: Monthly $300 transfers to Manila
A Filipino nurse in California sends $300 monthly to family in Manila via BDO bank deposit. Over 12 months, the choice of provider has a significant impact:
Sendwave: $2.00 cost × 12 months = $24.00/year in fees. Family receives ₱4,095,600 annually.
Remitly Economy: $5.99 cost × 12 months = $71.88/year in fees. Family receives ₱4,056,960 annually.
Western Union: $9.99 cost × 12 months = $119.88/year in fees. Family receives ₱4,021,440 annually.
Bank wire: $31.00 cost × 12 months = $372.00/year in fees. Family receives ₱3,830,400 annually.
Switching from bank wire to Sendwave saves $348.00/year — that's ₱19,752 more reaching the family.
Annual remittance volume by sending country
| Sending Country | Annual Volume | Share of Total | Avg Cost (% of $200) |
|---|---|---|---|
| United States | $12.8B | 35% | 3.2% |
| Saudi Arabia | $4.5B | 12% | 4.1% |
| UAE | $3.8B | 10% | 3.8% |
| Canada | $2.9B | 8% | 3.5% |
| United Kingdom | $2.1B | 6% | 3.0% |
Source: Bangko Sentral ng Pilipinas (BSP) and World Bank Remittance Prices Worldwide. Figures are approximate and based on the latest available data.
