What does it cost to send money to the Philippines?

How much did sending 1,000 to the Philippines cost?

These are true costs (upfront fee plus exchange-rate markup) for sending 1,000 units of each currency to a Philippine bank account, from RateRunner’s snapshot of 15 October 2026.

From	Cheapest ranked quote	Costliest quote	Quotes ranked
United States (USD)	0.96% (Instarem)	5.05% (PayPal)	8
United Kingdom (GBP)	0.58% to 0.61% (Wise, Instarem, WorldRemit)	5.78% (PayPal)	12
Eurozone (EUR)	0.73% (Wise)	6.11% (Sparkasse)	11
Canada (CAD)	0.49% (Western Union)	6.82% (BMO)	9
Australia (AUD)	0.40% (Remitly)	5.11% (OFX)	10

Indicative quotes from Wise public comparison data. In USD → PHP and AUD → PHP, a promotional Xoom quote slightly above mid-market ranked first and is left out of “cheapest” here. Live ledgers: USD, GBP, EUR, CAD, AUD.

The spread inside each corridor is the useful number. In euros, the gap between the best and worst ranked quotes on 1,000 was more than 5 percentage points, or roughly 3,800 pesos at October 2026 rates. A German savings bank’s quote combined a 50 euro fee with a 1.17% markup; the cheapest services charged a small fee or none with a markup under 1%.

The World Bank’s survey shows why choice matters in this corridor family: across all services it monitors, sending the equivalent of 200 dollars to a mobile wallet averaged 3.92% globally in the third quarter of 2025, while sending to a bank account averaged 7.86% and cash payout 5.56%. Your options are much better than the average if you compare.

Bank deposit, e-wallet or cash pickup?

Bank deposit. Philippine banks are connected through two automated clearing systems overseen by the central bank under its National Retail Payment System framework:

• InstaPay: real-time, available around the clock, designed for lower-value transfers.
• PESONet: batch-based, suited to larger amounts, usually credited the same banking day if sent before the cut-off.

Which one a provider uses affects speed, not usually your price, but it explains why a large deposit may arrive later than a small one.

E-wallet. Many recipients prefer GCash or Maya. Several transfer services pay out directly to these wallets, often within minutes. Make sure the wallet is verified for receiving the amount you plan to send.

Cash pickup. Pawnshops, remittance centres and bank branches pay out cash with an ID and reference number. It is valuable where accounts are not used, but it can be priced differently. See cash pickup vs bank deposit.

Why does the cheapest provider change with the amount?

In the USD to PHP snapshot, Remitly charged no fee and a 0.97% markup at 200 dollars, but its markup fell to 0.20% at 5,000 dollars. Wise charged a mid-market rate with a fee of 7.96 dollars at 200 (3.98% in total) and 31.37 dollars at 5,000 (0.63%). Western Union’s markup stayed at 2.81% at every amount. Fee structures and tiered rates mean the same provider can rank first at one amount and fifth at another, so always compare at the amount you actually plan to send in the calculator.

Practical checks before sending

1. Name matching. The recipient’s name must match their bank or wallet account, including middle names, or the transfer can be held.
2. Account or wallet number. Confirm it with the recipient in writing rather than from memory.
3. Payout type. Make sure the quote you compared is for the same payout type.
4. Timing. Weekend and holiday transfers may be priced with a wider rate and credited on the next banking day. See how long transfers take.
5. Receipts. US senders have cancellation and error-resolution rights under federal rules; the CFPB explains them on its money transfer pages.

For the arithmetic behind every figure here, see how exchange-rate markups work.