Send Money from Canada to Philippines at Best Exchange Rates

Highest remittance rate for converting Canada Dollar to peso is 1 CAD = 39.26 PHP

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Best Way to Transfer Money to Philippines from Canada

Choosing best money transfer company from the sea of companies is not an easy feat, not because there are lots of them, but all of them are offering similar services with not much difference in rates. The same problem has been faced by the customers when they want to transfer funds and could not decide which company to choose from the array. So, here are few of the "cheapest way to send money to Philippines" from Canada.

Therefore, here we are providing the “Top money transfer services from Canada to Philippines”.

Please find the list of companies below in a sorted order which are providing the "best way to send money to Philippines" with the highest exchange rates and low fee.

Country Guide - Philippines

Mid Market Rate

39.48

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Mid Market Rate

39.48

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Sort By:
BEST VALUE FASTEST
Pay-In
Pay-Out
You Pay (Includes Fee $ 0) $ 500
Receiving Amount
₱ 19630
Realized Exchange Rate
39.26
remitly CAD to PHP Exchange Rate
39.26
Best Value

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Transfer Time : 3-5 Days
Remitly is a one of the safest & leading money transfer service provider for sending money from Canada to Philippines for sending amount 500. Today’s Remitly exchange rate for sending money from CAD to PHP is 39.26 with a $ 0 fee. Based on the Exchange Rate IQ calculations it offers the Best Value for your money transfer. The realized exchange rate after considering the fees is 39.26. The pay in options available are Bank, also you can receive money using Bank, at multiple Remitly partner locations. The transfer time usually range between 3-5 Days. For more detailed review of Remitly click here
1 More Option Available

You Pay
(Sending Amount + Fee)

Exchange Rate
(remitly / Realized)

Receiving Amount
(Receiving Amount)

$ 506.99
Pay-In :
38.8 / 38.27
3-5 Days
₱ 19400
Pay-Out :
Pay-In
Pay-Out
You Pay (Includes Fee $ 5.93) $ 500
Receiving Amount
₱ 19500.2512
Realized Exchange Rate
38.54
transferwise CAD to PHP Exchange Rate
39.4686
1.83% vs Best Value

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Transfer Time : 3-5 Days
Transferwise is a one of the safest & leading money transfer service provider for sending money from Canada to Philippines for sending amount 500. Today’s Transferwise exchange rate for sending money from CAD to PHP is 39.4686 with a $ 5.93 fee. Based on the Exchange Rate IQ calculations it offers 1.83% less than the best value for your money transfer. The realized exchange rate after considering the fees is 38.54. The pay in options available are Bank, Creditcard, Debitcard, also you can receive money using Bank, at multiple Transferwise partner locations. The transfer time usually range between 3-5 Days. For more detailed review of Transferwise click here
Pay-In
Pay-Out
You Pay (Includes Fee $ 0) $ 500
Receiving Amount
₱ 17740.95
Realized Exchange Rate
35.48
ofx CAD to PHP Exchange Rate
35.4819
9.63% vs Best Value

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Transfer Time :
Ofx is a one of the safest & leading money transfer service provider for sending money from Canada to Philippines for sending amount 500. Today’s Ofx exchange rate for sending money from CAD to PHP is 35.4819 with a $ 0 fee. Based on the Exchange Rate IQ calculations it offers 9.63% less than the best value for your money transfer. The realized exchange rate after considering the fees is 35.48. The pay in options available are Bank, also you can receive money using Bank, at multiple Ofx partner locations. The transfer time usually range between . For more detailed review of Ofx click here

More Available Options

You can check rates of some more providers that may support your country
WorldRemit is an online money transfer service that provides international remittance services to expatriates and migrant workers
Western Union is an American financial services company which offer money remittance to more than 200 countries across the globe.
With Xendpay you get the best deal and make a big difference with every transfer
Travelex is a money remittance company which is specially known for providing effective services to travelers across the world. People can transfer money online, use its money card and get currency exchanged at its stores. 
Money2anywhere is a product of UAE Exchange LLC Ltd which has its presence in more than 30 countries with over 150 correspondent banking relationships.
There are more than 200 countries you can send to using MoneyGram. Fees vary depending on where you are sending, how much, and how you are paying

Exchange Rate IQ Summary for Money Transfer From Canada to Philippines

  • Which is the best option available to send money from Canada to Philippines after comparison?
  • With our real-time comparison on sending money from Canada to Philippines ,
      we have found Remitly remittance services who are providing competitive exchange rates.
  • Top 3 companies are - ( Remitly, 39.26 ) ( Transferwise, 38.54 ) ( Ofx, 35.48 ) .
  • To remit money in the bank account of Philippines, best companies is ( Remitly, 39.26 ).
  • Current money transfer offeres/promotions are available with Remitly, Ofx money transfer services.
  • For quick money transfer from Canada to Philippines with agent service is Ofx with exchange rate 35.48.
  • Available pay in when sending money from Canada to Philippines Bank, Creditcard, Debitcard.
  • Available pay out when sending money from Canada to Philippines Bank.
  • Other options to transfer money from Canada to Philippines are Worldremit, Westernunion, Xendpay, Travelex, Money2anywhere, Moneygram .
  • The comparison result was last updated on Sep 19, 2019.
  • For the latest comparison result of Canada to Philippines, Please visit ExchangeRate IQ regularly.

What is hidden fees and how it can affect your transfers?

A hidden fee is the conversion fee charged by the companies which is not shown on the transaction page but will get charged from the amount you are transferring and leads to less transfers to the recipient. The companies will not tell users about this fee that means it’s hidden.

Many companies charge approximately 5% of the total amount as hidden fees depending on the method of transferring and amount transferred. So, your recipient will not receive the amount which is shown to you on the transaction page and you will be charged more than told. Therefore, you always check if the company is charging any extra hidden fees or not.

How to find the best money transfer service to Philippines from Canada?

Canada to the Philippines is not very much competitive transfer corridor as there are only a few companies which offer their services on this route. A few of banks and money remittance companies are offering these services which offer multiple offers to provide discount and best exchange rates. The major question arises that after seeing competitive exchange rates is which company you should pick to transfer funds from Canada to the Philippines.

A few banks, MTOs and startups are offering these services to customers with multiple offers and benefits. Due to this competition, consumers now have a large number of choices and negotiating power. But again the question arises is which is the “best money transfer company” according to your needs and requirement of the recipient. So, here are a few base points which you should consider before transferring Canadian Dollar to Philippines Peso:

  1. Speed: How soon you want your money to reach the recipient? If you want to transfer money faster, you can use cash pickup services of WorldRemit which provides the instant transfer. While, if you have no emergency, then you can use services of TransferWise, QuickRemit and Xendpay, which will deliver money in 2-3 working days.
  2. Exchange Rate: The companies offer different exchange rates depending on the fees they are charging and their margin of profit. For example, XE Money Transfer offers its customers mid market exchange rates. Besides this, other companies offer a bit lower rates comparing to live market rates and lock-in so that the same amount will be received by the recipient.
  3. Fees and Other Taxes: There are taxes levied on every transfer depending upon the policies of both the countries which will be deducted from the amount paid. The fee is charged by companies on different types of transfers. Before transferring, first, watch out that you will not end up paying more than you should.
  4. Transfer Convenience: If one can transfer in an easy way without any support of customer assistance, then the company is considered as highly convenient. You can make transfers online without physically visiting its office. In the era of digitalization, mobile apps are also necessary which can ease the transfers anytime anywhere. Xendpay, WorldRemit, and XE Money Transfer are also offering their mobile apps.

TransferWise Vs OFX: Which is best?

TransferWise and OFX both are global level money transfer companies and have offices in some of the major cities worldwide. But when we compare TransferWise vs OFX, we can see that the exchange rates are highly competitive and both of them can save more for you as compared to bank transfers. OFX transfer services are there for people from the past 17 years, while TransferWise was established in the year 2011. We understand that you will have multiple questions such as TransferWise or OFX, which one is best? Which is the most affordable option to send money internationally? So let’s have a look at both the companies using different perspectives such as:

  • Fees
  • Better exchange rate
  • Transfer speed

Fees: OFX does not charge any fees for transferring money if you are transferring money more than USD $1,000 or more while TransferWise fees depends on where and how much amount you are sending. Its fees range in between 0.55% to 2.35% of your transaction and sometimes more. So, here we prefer OFX as it is charging lower fees compared to TransferWise.

Better Exchange Rate: TransferWise is one of some companies which offer the mid-market exchange rates while OFX exchange rates are approximately 0.4% above the mid-market rates, as it includes the transaction fees too which it is not charged under fees head. Both have competitive rates, but TransferWise has much better rates.

Transfer Speed: TransferWise mostly deliver its money with 1-2 days, so does OFX. So under this head, both the companies are providing money to the recipient within a period of 1-4 days. So, here is a tie.

But as we see the TransferWise is not charging any hidden fees, while OFX is offering lower exchange rates makes TransferWise a better option to send money to the Philippines. So, if you are thinking of "remittance to Philippines from USA", you can choose the best of them and at the same time, ERIQ is providing you multiple offers which will reduce your transfer fees.

FAQ's

How to send money from Canada to Philippines through Xoom?

Sending money with Xoom Money Transfer is a simple process. You need to sign up and submit the bank details of yours and the recipient, select the area where money is need to be paid and the way of payment, debit card, credit card or bank account.

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How much money can I send to Philippines from Canada?

You can send a maximum amount of $10,000 from Canada to Philippines. If you transfer a higher amount, you need to provide the details of transfer to the government. Similarly, if the amount exceeds $15,000, then the recipient residing in the Philippines have to provide the details of transfer to the government.

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What are the taxes I need to pay when sending money to Philippines?

If you are sending money to Philippines, its citizens require paying 12% value-added tax (VAT) on remittances proposed by the Duterte administration in 2017.

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Can I send money to Philippines using credit card from Canada?

Yes. You can pay and send money to the Philippine using credit card from Canada. But the credit card companies may charge some extra fees for their services and your transfer may cost you high.

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How to send money to Philippines at highest rate?

The list provided above shows which company is offering the highest rate. So, if you are satisfied with its services, you can select the company to send money to the Philippines at the highest rate possible.

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Are money transfers regulated in Canada?

The government of Canada keeps a track on the large transactions in order to prevent frauds and keeping country safe. If you are receiving or sending money more than $10,000 then the bank you complete transaction needs to report it to FINTRAC (Financial Transactions and Reports Centre of Canada). FINTRAC stores this information with it and, if required for the investigation of a crime, passes it on to the RCMP (Royal Canadian Mounted Police), municipal police or CSIS (Canadian Security Intelligence Service).

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Historical Mid Market Exchange Rate From Canada Dollar (CAD) to Peso (PHP) (Weekly)

Current Exchange Rate(Mid Market) :- 39.48 PHP/CAD

Mid-market Rate is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
  • Selling exchange rate - at which sellers are willing to sell a particular currency and
  • Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.

Compare Currency Conversion CAD To PHP

Send Canada Dollar To PHILIPPINES Receive Peso
1 CAD TO PHP 39.48
50 CAD TO PHP 1974
100 CAD TO PHP 3948
250 CAD TO PHP 9870
500 CAD TO PHP 19740
1000 CAD TO PHP 39480
5000 CAD TO PHP 197400
10000 CAD TO PHP 394800
Send Peso Receive Canada Dollar From PHILIPPINES
1 PHP FROM CAD --
50 PHP FROM CAD --
100 PHP FROM CAD --
250 PHP FROM CAD --
500 PHP FROM CAD --
1000 PHP FROM CAD --
5000 PHP FROM CAD --
10000 PHP FROM CAD --

Click To Compare Money Transfer Services For The Following

USD

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