Sending money to family and friends in the Philippines has become easier than before. Many people work in other regions and like to support their loved ones back home. If you are looking for the cheapest way to send money to Philippines this guide will help you find smart, safe and low cost options to make every dollar count.
Why People Send Money to the Philippines
Millions of Filipinos live and work abroad from the Middle East to the United States and Europe. They send money home to help with daily needs, education or family events. Remember every peso matters so it is a must to select a service that charges less and offers better exchange rates. Now look at the means that send money at the rates that is affordnale.
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Go for Online Money Transfer Apps
Online transfer apps such as Wise, Remitly and WorldRemit are known because they offer low rates and fast transfers. One can send money directly from their phone or computer and family can get it in minutes. These apps show you the exact exchange rate before one send so there are no hidden charges.
Tip
Always compare apps before sending money. Even small differences in fees can save you a lot over time.
Bank Transfers
Many banks let you send money directly to a bank account in the Philippines. This is safe and reliable but sometimes banks charge higher fees and offer lower exchange rates. It is the best to check the international transfer fees of banks before sending money.
If the family uses the same bank the transfer might be free or cheaper.
Money Transfer Firms
Traditional firms such as Western Union and MoneyGram are famous for sending cash fast. You can send money online or visit a branch and your family can pick it up from thousands of locations across the Philippines.
The downside is that these firms can be expensive compared to online apps. Still they are a good choice if your family does not have a bank account.
Digital Wallets
Digital wallets such as GCash and PayMaya have become famous in the Philippines. Some international apps let you send money straight into these wallets. It is quick, safe and easy to use.
Once your family receives the money they can pay bills, buy load or withdraw cash from partner stores.
Cryptocurrency Transfers
Some people prefer cryptocurrencies such as Bitcoin or USDT to send money. It can be affordable and fast but it is not always easy for everyone to use. Your family will need to know how to convert crypto into pesos safely.
Conclusion
The cheapest way to send money to Philippines depends on the needs. If you want speed pick online transfer apps. If your family prefers cash pickup use a money transfer company. Always compare fees, exchange rates and delivery time before sending.
By being smart about your choices you can save money and more of it reaches the people you care about most.
