Send Money to Philippines from the USA at Best Exchange Rates

Highest remittance rate for converting US Dollar to US Dollar is 1 USD = 1 USD

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Best Way to Transfer Money to Philippines from the USA

We can see that the money remittance market has been growing at a fast pace as approximately USD$689 billion were transferred in 2018 as per the report of the World Bank. This amount has been mostly transferred to developing countries from developed countries like the USA, UK, Australia, etc., to the friends and families residing in other countries. One such country which receives large funds every year through remittance is the Philippines and that too from the USA, where millions of Filipino lives and transfer money back to country.

Therefore on this page, we have compared the “Top 10 money transfer service from the USA to the Philippines”.

Please find below the list of companies in sorted order which provide the "cheapest way to send money from USA to Philippines" by offering the highest exchange rates and low fee.

Country Guide - Philippines
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You Pay (Includes Fee $ 0) $ 500
Receiving Amount
$ 500
Realized Exchange Rate
transfast USD to USD Exchange Rate
Best Value


Transfer Time : 3-5 Days
Transfast is a one of the safest & leading money transfer service provider for sending money from USA to Philippines for sending amount 500. Today’s Transfast exchange rate for sending money from USD to USD is 1 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 1. The pay in options available are Bank, Debitcard, also you can receive money using Bank, at multiple Transfast partner locations. The transfer time usually range between 3-5 Days. For more detailed review of Transfast click here

More Available Options

You can check rates of some more providers that may support your country
Make money transfers and manage your account online 24 hours a day, 7 days a week from any device. XE Money has some best customer reviews we have ever seen, which shows that the users are satisfied with its services.
With a worldwide agent network of more than 314,000 locations in 144 countries and growing
Western Union is an American financial services company which offer money remittance to more than 200 countries across the globe.
World First is a UK-based foreign exchange company. It offers currency exchange and international payments to private clients, corporate and e-Commerce clients in the UK and a number of other countries.
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. 
Muncha Money Transfer is an online platform to send money from US to Nepal in association with Everest Bank Ltd.
Safe, Legal and Easy way to Send Money.Guaranteed Exchange Rate from USA to Nepal and India

Money Transfer Summary

By Exchangerate IQ
  • Transfast offering best value with the highest realized exchange rate today.
  • the fastest money transfer service to send money from USA to Philippines.
  • Offers are available on money transfer services.
  • Available pay in when sending money from USA to Philippines Bank, Debitcard.
  • Available pay out when sending money from USA to Philippines Bank.
  • 1 money transfer services are available to send money from USA to Philippines.
  • The comparison result was last updated on Jul 17, 2019.
  • Money transfer guide for "Philippines" leads you to get better understanding of compare remit.
  • Check Xemoneytransfer, Ria, Westernunion, Worldfirst, Travelex, Muncha, Prabhuonline also when sending money to Philippines from USA.These money transfer services might support it.
  • For the latest comparison result of USA to Philippines, Please visit ExchangeRate IQ regularly.

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.


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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