The Expert's Guide to Remit Money to the Philippines

Send money overseas with WorldRemit to take advantage of bank-beating exchange rates

Published Jul 27, 2022

By RemitFinder

If you're looking for an easy and affordable way to send money to the Philippines, look no further than The Expert's Guide to Remit Money to the Philippines.

In this article, we will discuss the best ways to send money to the Philippines, as well as how to save money on your transactions. We'll also provide a list of the best remittance services available so that you can choose the one that is right for you.

Stacks of currency bills moving from one stack to another with the title - The Expert's Guide to Remit Money to the Philippines

What Are Remittance Centers, and How Do They Work?

If you're looking to send money to the Philippines, you'll likely come across something called a remittance center. But what exactly are these, and how do they work?

Remittance centers are businesses that specialize in facilitating money transfers between different countries. When you go to a remittance center, you can simply hand over the cash that you want to send overseas, and the staff will take care of transferring it for you. The whole process is usually pretty quick and straightforward.

One of the main advantages of using a remittance center is that they typically have much better exchange rates than banks. This means that more of your money will end up reaching its destination, which is very important. Another benefit is that remittance centers usually have a much wider network of locations than banks, so it's easy to find one near you. They also tend to have longer opening hours, which can be very convenient if you're working during the day.

Remittance centers help you send cash overseas, and usually have many convenient locations.

What Is a Money Transfer Service, and What Does It Do?

A money transfer service is a company that helps customers send money from one country to another. The process usually involves the customer sending money to the company, which then forwards the funds to a recipient in the other country. There are many different money transfer services available, each with its own set of features and fees. Some specialize in transfers to specific countries, while others may offer lower fees or faster delivery times.

When choosing a money transfer service, it's important to compare different options to find the best fit for your needs. Once you've found a reputable money transfer service, sending money abroad is usually a quick and easy process. Most companies allow you to send funds online or through their mobile app, and the recipient can typically receive the money within a few days.

What are the Best Ways to Send Money to the Philippines?

There are a few things you need to take into account when choosing the best way to send money to the Philippines. The most important thing is finding a method that is safe, fast, and affordable. Here are a few of the best ways to send money to the Philippines:

Bank Transfers

This method is usually very reliable and can be done online or in person at your local bank branch. The only downside of this method is that it can take a few days for the funds to arrive in your recipient's account. Banks also tend to offer lower exchange rates than money transfer companies.

Cash Money Transfer Services

Many companies specialize in international money transfers by paying with cash, such as Western Union and MoneyGram. This method is usually very fast, with the funds arriving in your recipient's account within a few minutes. The downside of this method is that it may sometimes involves high transfer fees that can reduce your recipient's payout.

Prepaid Debit Cards

This method is similar to a bank transfer, but the funds are loaded onto a prepaid debit card, which can then be used by your recipient to withdraw cash or make purchases. The only downside of this method is that it can take a few days for the funds to be loaded onto the card.

Online Money Transfer Services

Online transactions are the best way to move money from the United States to the Philippines if you have access to the internet. Online money transfer companies, such as Instarem, Paysend and XE Money Transfer, will provide you with the best exchange rates, minimal to no transfer fees, fast transmission, security, and convenience.

There are many ways to send money to the Philippines. Compare options and choose the best one for your needs.

Which are the Top Remittance Centers in the Philippines?

When it comes to sending money to the Philippines, there are a few things you need to take into account. The most important thing is finding a reliable and affordable remittance center. Here are a few of the most popular ones in the Philippines:

Cebuana Lhuillier: This is one of the most popular remittance centers in the Philippines. They have more than 2,000 branches nationwide, so there is likely one near your recipient. They also offer competitive rates and have a very efficient service.

M Lhuillier: Another popular option, M Lhuillier, has more than 1,200 branches across the country. They offer great rates and excellent customer service.

Palawan Pawnshop: Palawan Pawnshop is a great option if you're looking for an affordable way to send money to the Philippines. They have more than 800 branches nationwide and offer very competitive rates.

Western Union: Western Union is one of the most popular remittance centers in the world. They have a large network of agents in the Philippines, so you can be sure to find one close by. They also offer competitive rates and have a very efficient service.

OFW Remittance: This is a great option for Filipino workers abroad who want to send money home. They offer very competitive rates and have a highly efficient service.

Coins.ph: Coins.ph is a great option for those who want to send money using Bitcoin. They offer very competitive rates and have a very efficient service.

RCBC: RCBC is a popular bank in the Philippines that offers remittance services. They offer very competitive rates and have a very efficient service.

Xoom: Xoom offers fast and reliable money transfers with low fees. One of the things that sets it apart from other services is that you can send cash to your loved ones in the Philippines, which can be handy in case they need money for unexpected expenses or emergencies.

An assortment of currency bills of various denominations

What Is the Maximum Amount of Money I Can Send to the Philippines?

The amount of money you can send to the Philippines will depend on the country you are sending it from as well as the method you use. There are a few different ways to send money to the Philippines, and each has its limitations. The most popular methods are through banks or money transfer services.

Banks typically have a higher limit than money transfer services. Money transfer services usually have a lower limit, such as Western Union, which allows transfers of up to USD 3,000 per transaction.

Other companies have different limits, but they're all fairly similar. The main thing to remember is that you can usually send a limited amount of money in a single transaction or in a single day. If you need to send a large sum of cash, it's best to do it in a few transactions across several days.

How to Send Money from Abroad to the Philippines?

If you're an Overseas Filipino Worker (OFW), chances are you'll need to send money back home to the Philippines at some point. The process of remitting money can be a bit daunting, but we're here to help.

There are a few things you'll need to take into account when sending money back home.

First, you'll need to choose a reputable money transfer service. There are many different options out there, so it's important to do your research and find one that suits your needs. Once you've found a service, you'll need to create an account and provide some basic information about yourself and the recipient.

Once you've set up your account, you'll need to choose how you want to send the money. The most common options are through a bank transfer or using a credit or debit card. The fees and exchange rates will vary depending on the method you choose, so be sure to compare your options before making a decision.

It is quick and easy to send money home to the Philippines from overseas.

How to Choose the Most Suitable Remittance Center or Money Transfer Service in the Philippines?

When you're looking for a service provider to help you remit money to the Philippines, it's important to find one that offers convenient and reliable transfer services. The last thing you want is to have your money stuck in transit or lost altogether.

Here are a few factors to consider when choosing a money transfer service:

The fees associated with the transfer. You'll want to find a provider that charges reasonable fees for their services.
The turnaround time for the transfer. Ideally, you'll want to find a provider that can get your money to its destination quickly and efficiently.
The exchange rate. You'll want to find a provider that offers competitive exchange rates so you can get the most bang for your buck.

The Bottom Line

No matter which method or provider you choose, sending money to the Philippines doesn't have to be complicated or expensive. With a little research and planning, you can find the best way to send money home to your loved ones without breaking the bank.

Do You Need To Find the Best Remit Exchange Rate for Sending Money Internationally?

RemitFinder is an online service that helps you track remit exchange rates. By checking and comparing the latest remit exchange rates, you can get the best exchange rate for your money transfers. RemitFinder, thus, helps you to get the best return for your hard-earned money.

Find the cheapest rate to transfer your hard-earned money - visit our site or download the app on Google Play or Apple App Store now.