Compare Kuwait Dinar to peso For Sending Money to Philippines from USA

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Mid Market Rate

The mid-market rate is the midpoint between the buy and sell prices of two currencies.
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More Available Options

You can check rates of some more providers that may support your country
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. 
Western Union is an American financial services company which offer money remittance to more than 200 countries across the globe.

How to find the best money transfer to the Philippines from the USA

The USA to the Philippines is one of the most competitive transfer corridors where many people look for the cheapest services, so here we have bought you some of the best money remittance companies. These companies provide multiple offers to reduce the transfer fee and deliver funds at best exchange rates. But the major question arises that after seeing competitive exchange rates, which company you should pick to transfer funds from the USA to the Philippines.

A large number of banks, MTOs and startups are also 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 few base points which you should consider before transferring the US Dollar to Philippine Piso:

  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 InstaReM, Placid, TransferWise and Transfast money transfer, which will deliver funds in 2-3 working days.
  1. Exchange Rate: The companies offer different exchange rates depending on the fees they are charging and their margin of profit. For example, InstaReM offers live mid-market exchange rates but keep it locked until it reach the recipient. Besides this, WorldRemit changes it depending on the pay-out option you choose.
  1. 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.
  1. 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. WorldRemit, Transfast, XE Money Transfer, TransferWise, and OFX Money Transfer are also providing their mobile app.

International ACH Vs Wire Transfer

ACH and Wire transfers are the most common method used by migrants living in the USA to send money back to their families. But both differ from each other on the basis of fees, transfer speed, safety and certainty. So, here are the common differentiation points of both the services:

  • Transfer fees: ACH transfers are almost always free for the consumers, especially, when you are receiving the funds. Even if you are sending money abroad, using apps or P2P payment services is usually free or around $1 per payment who frequently uses ACH services. While in Wire Transfer, banks and credit unions charged in between $10 to $35 to make an international money transfer, which makes Wire Transfer costly.
  • Transfer Speed: Amount send using Wire Transfer services will be received by the recipient within a day or even instantly. While the amount sent via ACH transfer will be received by the recipient after 2-5 working days. So, if you want to transfer funds in an immediate manner and in large amount, you can select Wire transfer of any bank or transfer company.
  • Safety and Certainty of Transfer: ACH transfers are bit safer compared to Wire transfers as they get completed from the bank account while Wire transfers are completed manually by bank staff. At the same time, you can send money and request payment in ACH transfers. On the other hand, you can only send money using Wire transfer.

So, both the transfer services are best at their places, but if you have no emergency and looking for a more secure option, you must go for ACH transfers to send money from the USA to the Philippines.

Tax and regulations on transferring large amount to the Philippines

Both the USA and the Philippines have set regulations and taxes on transferring the large amount to and from the Philippines. If you send more than USD $10,000 from the USA, you need to report the USA government while if you transfer or receive more than USD $14,000 in the Philippines, you need to inform the government there. “Maximum money transfer to the Philippines” amount to USD $15,000 in one transfer so you should be careful while making an international money transfer.

If you fail to file the large remittance then it may result in penalties. Even if mistakenly, someone forgets to report the amount received, then they could be found by the tax courts to have willfully filed a false or fraudulent claim, which comes with a 50% penalty on the tax due. So, if you are sending a larger amount to the Philippines from the USA, you need to provide the details of transfer to both the governments.

FAQ's

How to send money to Philippines from USA?

There are many best ways to send money to the Philippines from the USA and you can select the one which suits your requirements. These are:

Bank transfers: You can make bank account to bank account transfer from the USA to the Philippines if you want to send large amount.

Money transfer companies: If you want to send a small amount up to $10,000 you can use the services of money transfer companies. They offer high exchange rates at lower transfer fees.

Cash pickup services: Money transfer companies also offer cash pickup services in many countries including the Philippines. You can transfer money with them through a bank account, debit card or credit card and the same will be received by the recipient within an hour.

Money order: In money orders, the recipient will receive a fixed amount of sum from the post office which was prepaid by the sender at a bank or post office in the USA.

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How much is the fee to send money to Philippines from USA?

Every company has different fee depending on its working model and transfer process. Still one needs to pay approximately $5-$10 for making a transfer from USA to Philippines.

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Can I send money to Philippines online using credit card from USA?

Yes. You can send money to Philippines online using your credit card from money transfer companies. You can use credit card for making fast delivery of the funds. Besides, money transfer companies charge higher fees for using credit cards.

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Why do money transfer companies offer different exchange rates for the Philippines?

Different companies have different business models. Some offer zero fees while taking an exchange rate margin, while others ask for an upfront fee. These companies deduct costs, profits, commissions and margins from the exchange rates they are offering. Therefore, all the companies have different exchange rates to offer to its customers.

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Can I transfer money from US to an account in another name to the Philippines?

Yes, most money transfer companies require you to add the details of the receiving party. If you are sending money to the Philippines online you will have to add the bank accounts of the receiving party. However, many companies do not allow third-party transfers, so you mostly need your own account.

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Are money transfers regulated in US?

Yes, money transfers are regulated by the US government. If you transfer more than the US $10,000 then you have to share your as well as the recipient’s personal details with the government.

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Historical Mid Market Exchange Rate From Kuwait Dinar (KWD) to Peso (PHP) (Weekly)

Current Exchange Rate(Mid Market) :- 164.19 PHP/KWD

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 KWD To PHP

Send Kuwait Dinar To PHILIPPINES Receive Peso
1 KWD TO PHP 164.19
50 KWD TO PHP 8209.5
100 KWD TO PHP 16419
250 KWD TO PHP 41047.5
500 KWD TO PHP 82095
1000 KWD TO PHP 164190
5000 KWD TO PHP 820950
10000 KWD TO PHP 1641900
Send Peso Receive Kuwait Dinar From PHILIPPINES
1 PHP FROM KWD --
50 PHP FROM KWD --
100 PHP FROM KWD --
250 PHP FROM KWD --
500 PHP FROM KWD --
1000 PHP FROM KWD --
5000 PHP FROM KWD --
10000 PHP FROM KWD --

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