Send Money To Philippines
14 source corridors · World Bank RPW · PH
Cheapest Ways to Send Money to Philippines
Largest Inflows to Philippines
Nearby Inbound Corridors to Philippines
Top source countries by annual remittance volume into Philippines — the most active peer routes to the same receiving market.
All Corridors to Philippines
| From | Avg Cost |
|---|---|
| United States | 4.50% |
| United Arab Emirates | 4.10% |
| Saudi Arabia | 4.20% |
| Kuwait | 4.30% |
| Australia | 4.70% |
| Canada | 4.60% |
| Singapore | 3.50% |
| Qatar | 4.31% |
| Italy | 5.00% |
| United Kingdom | 4.60% |
| Japan | 4.80% |
| Malaysia | 3.80% |
| Spain | 2.23% |
| New Zealand | 3.90% |
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Related Resources
Data source: Source: World Bank Remittance Prices Worldwide (RPW) Database, quarterly release. Costs represent percentage of a $200 transfer amount.
Methodology reference: Source: UN Sustainable Development Goal 10.c target — reduce remittance transaction costs to below 3% by 2030. Always verify current rates directly with service providers before sending money.
Receiving Money In Philippines: What the Data Shows
The World Bank Remittance Prices Worldwide database tracks 14 inbound corridors into Philippines, with an average transfer cost of N/A across the full panel. Corridor-level averages move quarter to quarter; use the table above to compare specific source countries. In aggregate, Philippines pulls in roughly $40.3B in remittances each year from RPW-tracked corridors — a figure that for many receiving economies exceeds foreign direct investment and official development aid combined.
The three cheapest inbound corridors to Philippines right now are from Singapore at 0.80% via Wise, Malaysia at 1.00% via Western Union, United States at 1.20% via Remitly. These are the floor prices — the lowest rate any tracked provider currently quotes on a $200 transfer into Philippines, inclusive of both the service fee and the exchange-rate margin. For recipients, the practical implication is that the choice of payout method matters: bank deposit and mobile wallet payouts typically carry lower all-in costs than cash pickup at agent locations, because agent networks pass their overhead to the sender as higher fees.
The largest inflows into Philippines come from United States ($16.0B/yr), United Arab Emirates ($7.8B/yr), Saudi Arabia ($6.5B/yr). These high-volume corridors are where cost reductions matter most in dollar terms: a single-percentage-point decline on a multi-billion-dollar flow returns tens of millions of dollars annually to households using the money for food, rent, education, and small-business capital. The UN SDG 10.c target calls for average remittance costs to fall to 3% or below by 2030, and the corridors that have moved fastest toward that benchmark are those where digital fintech providers compete with banks and legacy money-transfer operators. For senders pointing money toward Philippines, the key action is to compare the cheapest provider on the specific corridor rather than defaulting to a household brand — the price dispersion within a single corridor is often larger than the difference between the cheapest and most expensive corridors.
Frequently Asked Questions
How much money is sent to Philippines each year?
Philippines receives approximately $40.3B in remittances annually, based on World Bank data. These inflows arrive from 14 tracked source countries, with an average inbound transfer cost of N/A. Remittances are a significant source of foreign income for many receiving countries.
What is the cheapest way to receive money in Philippines?
The cheapest way to receive money in Philippines depends on the source country. Based on World Bank RPW data, the most affordable inbound corridors are from Singapore, Malaysia, United States, with costs as low as 0.80%. Recipients generally benefit from digital payout methods (mobile wallets, bank deposits) rather than cash pickups, which can carry higher fees. Always compare options directly with transfer services.
How have remittance costs to Philippines changed over time?
The World Bank Remittance Prices Worldwide database has tracked transfer costs to Philippines since 2011. Globally, remittance costs have declined significantly over this period due to increased competition from digital providers, though progress varies by corridor. The UN SDG 10.c target is to reduce costs to 3% or below by 2030. The current average inbound cost for Philippines is N/A, compared to the global average of approximately 6.4%.
What payout methods are available for receiving money in Philippines?
Recipients in Philippines can typically receive money through bank deposit, mobile wallet, or cash pickup at an agent location, depending on the provider and corridor. Mobile wallet payouts have grown rapidly in many markets and often offer the fastest delivery. Cash pickup remains important in regions with lower banking access. The best payout method depends on the recipient's access to financial services and the specific transfer corridor.
How important are remittances to Philippines's economy?
Philippines receives approximately $40.3B in remittances annually from 14 source countries. Remittances often exceed foreign direct investment and official development aid in receiving countries, funding household consumption, education, healthcare, and small business investment. Reducing transfer costs even by 1 percentage point can free billions of additional dollars for recipient families.
Source: World Bank, Remittance Prices Worldwide (RPW) Database (2011-2024) World Bank, Remittance Prices Worldwide (RPW) Database (2011-2024)
Read our methodology — how this data is sourced, computed, and verified.