How to send money to Philippines from Japan with the best JPY-PHP rate

A better exchange rate means more Yen being sent to the Philippines. This exchange rate determines the price you will pay when buying Philippine Peso.

Currently the mid-market rate between Yen and Philippine Peso is 0.3802.

The cost of sending money from Philippines to the Philippines, is made-up of a combination of fees and exchange rates:

• The Mid-Market and Exchange Rates: The mid-market rate determines a mid-price for buying currency. The current mid-market rate from JPY-PHP is 0.3802 PHP per Yen.

• Fees: Outside of exchange rates, you may need to pay a fee to send. TorFx currently offers the lowest fees on transfers to the Philippines from Japan, costing 0 JPY per transfer. Although this does include large transfers as well, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The amount received in Philippine Peso is the amount you started with, minus the amount you paid in the exchange and fees.

The better deal you get on exchanging Yens to PHP, paired with a low fee, means a higher total amount received in the Philippines.

If you’re sending a large amount where this rate could make a significant difference, use a forward contract. This allows you to lock in an agreed exchange rate between Japan and the Philippines.

A bank transfer through a money transfer company is the cheapest way to send money. Generally, it’s the payment method that will get you the best price on a transfer from Japan to the Philippines at this moment.

Here are all the ways to send money from Japan to Philippines:

Bank transfers

Bank transfers are usually the best and easiest way to send money from Japan to the Philippines.

By using a money transfer company such as TorFx for transfers from Japan to the Philippines, you can send money via a bank transfer while benefitting from lower fees and more favorable exchange rates than you would get from a traditional bank.

Debit and prepaid cards

Sending money from Japan to the Philippines with a debit or a prepaid card is available through .


is a one of the cheaper options for debit card payments for transfers from Japan to the Philippines. This cost is against a total of 5 money transfer companies offering this option.

Credit cards

When it comes to international credit card transfers from Japan to the Philippines, we recommend comparing your options to get the best deal.

Be aware of fees: using a credit card to transfer money often results in a fee being charged by your card issuer. Where possible, we recommend a bank transfer or debit card payment.

and have different financial regulators and ensuring you fully understand how these work will aid in keeping your money safe.

We’ve put together a directory of worldwide financial regulators which contains details on regulation for money transfers between Japan and Philippines.

Transfer limits to Japan and the Philippines will differ per company, this may impact the amount you can send and receive if you hit the limits.

Also, rates and fees for different JPY-PHP transfer amounts could change - that’s why it’s best to compare companies for your specific transfer amount. Then, for regular transfers to the Philippines, shopping around each time can make a huge difference if you feel you are hitting limits regularly.

For sending large or regular amounts of JPY to the Philippines we'd recommend using Wise. They offer a combination of rates and fees when sending from Japan to the Philippines that is the most competitive.

There are different ways to receive money in the Philippines.

The most popular ways are direct bank deposit into Philippine Peso, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all providers offering money transfers between Japan and the Philippines will offer every method for incoming Philippine Peso.

Understanding where the money will eventually go after its left Japan and entered the Philippines could impact the provider you use.

The most common (and generally easiest) way to send money from Japan to the Philippines is directly into a bank account. Wise is the best company for sending money from Japan to a bank account in the Philippines.

And if you need cash right away, check if cash pickup is an option for transfers between Japan and Philippines.

Mobile wallets, P2P services and payment apps like PayPal, Xoom, and CashApp are popular because they offer convenience to those who already have them, but they come with more limitations and higher costs.

When sending Philippine Pesos to the Philippines, you will need to verify your ID at the sign up stage.

The documents you need will vary by money transfer company and in some cases you might need a couple of options.

For the most part however, in Japan ID can be verified through a government issued ID such as a passport or driver's license.

In the Philippines, if the recipient needs an ID to collect money - both should be accepted. We’d recommend checking in advance before sending for any specific requirements on receiving money.

Large transactions between Japan and the Philippines, are subject to additional checks such as proof of funds. This is for anti-money laundering purposes.

Wise is one of our recommended providers for transfers to the Philippines from Japan due to the ease of sign up and ID verification.

When sending money between Japan and Philippines there will be tax declarations to consider.

Some transfers into Philippine Peso may need to be reported to tax authorities in the Philippines, particularly where inheritance or property purchases are involved (or anywhere else there are additional legal requirements).

Depending on age and income in particular, tax limits and personal allowances will change in the Philippines.

When in doubt, please contact a tax professional in Japan or the Philippines to discuss the personal circumstances of the transfer. This ensures you are not missing any specific tax declarations associated with your circumstances.