Cheapest Way to Send Money to the Philippines
The Filipino Remittance Landscape
The Philippines receives over $36 billion in remittances annually, with a significant portion coming from the United States. For Filipino Americans (often called Balikbayan), sending money home is a regular part of life — supporting families, paying for education, healthcare, and contributing to household expenses. With so much money flowing, even small savings on fees and exchange rates add up to thousands of pesos over a year.
Comparing Fees and Rates for PHP Transfers
Wise offers the most transparent pricing with fees starting around $1.50 for bank transfers and rates very close to the mid-market rate. Remitly frequently runs promotions for Filipino corridors, including zero-fee first transfers and enhanced exchange rates. Xoom (owned by PayPal) is popular for its reliable delivery to Philippine banks and GCash. Western Union has the widest cash pickup network in the Philippines through Cebuana Lhuillier, LBC, and M Lhuillier locations. For GCash delivery, Remitly and WorldRemit offer instant transfers.
GCash vs Bank Deposit: Which Is Better?
GCash has become the go-to digital wallet in the Philippines with over 80 million users. For recipients, GCash delivery is instant and convenient — they can use the funds immediately for bills payment, shopping, or cash out at any GCash partner. Bank deposits take 1-2 business days but may be better for larger amounts. Some providers offer slightly better rates for GCash delivery. Maya (formerly PayMaya) is another popular option. If your recipient regularly uses GCash, it's usually the fastest and most convenient choice.
Money-Saving Tips for Filipino Americans
First, always pay via bank transfer (ACH) from your US bank account — this avoids the 2-4% credit card surcharge. Second, compare rates on the actual amount you're sending — a $500 transfer and a $2,000 transfer may have different optimal providers. Third, check for promotions — Remitly, WorldRemit, and others regularly offer bonus rates or fee waivers for Philippine transfers. Fourth, consider sending during US business hours on weekdays when rates tend to be slightly more favorable. Finally, use 1StopRemittance to compare all providers in one place before every transfer.
Get More Remittance Tips
Join our newsletter for weekly guides and rate alerts.