How to send money to Philippines from Nigeria with the best NGN-PHP rate

The exchange rate determines the price you’ll pay for Philippine Peso when you send Naira to the Philippines.

The current exchange rate between the Naira and Philippine Peso is 0.0448, and it constantly fluctuates.

When calculating the cost of sending money from Nigeria to the Philippines, a combination of fees and exchange rates ensure the best deal:

• The Mid-Market and Exchange Rates: The current NGN-PHP mid-market rate is 0.0448 PHP per Naira. Finding a provider as close to this number as possible will ensure more Philippine Peso for your money.

• Fees: Transfer fees are charged on top of a transfer. Afriex currently offers the lowest fees of 0 NGN per transfer (based on ₦360,000 transfer). Although, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The total amount received in Philippine Peso is the biggest indicator in the total cost of sending money to Nigeria from the Philippines. The higher the total amount received in the Philippines, the lower the cost of sending from Nigeria.

It’s possible that waiting a day or two can help you get more PHP for the same amount of Naira. But, the best way to lock in a price between Nigeria and the Philippines is by using a forward contract.

A bank transfer is our recommended option for money transfers between Nigeria and the Philippines. Afriex offers the best price on a bank transfer.

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

Bank transfers

Bank transfers are often the best payment method for money transfers from Nigeria to the Philippines.

A money transfer company like Afriex offer bank transfers between Nigeria and the Philippines with lower fees and better exchange rates than you would get from a traditional bank.

On average, Afriex is the cheapest provider for bank transfers of the 4 we tested when sending NGN to the Philippines.

Debit and prepaid cards

Sending money from Nigeria to the Philippines with a debit or a prepaid card is very simple with Western Union Agent.


Western Union Agent is a leader in debit card payments for transfers from Nigeria to the Philippines, competing among a total of 4 active money transfer companies on this route.

Credit cards

We recommend avoiding credit cards where possible due to a lack of support and high fees.

If you have to use a credit card, we recommend comparing your options to find the company with the lowest fees.

Always choose providers that are regulated by financial authorities in both Nigeria and Philippines to ensure funds are protected.

Please refer to our directory of financial regulators worldwide for key regulatory bodies for money transfers between Nigeria and the Philippines.

Some services have minimum or maximum thresholds on how much you can transfer from Nigeria to the Philippines.

Companies will offer different rates and fees for different transfer amounts. Some companies will become more expensive after certain thresholds are hit.

We’d recommend using Western Union Agent if you need to send large amounts of NGN to Philippines. The combination of rates and fees when sending to the Philippines is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving Nigeria, or entering the Philippines. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Philippines. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account. It’s likely not all providers serving transfers from Nigeria to the Philippines will offer every method, so it’s best to check ahead of time.

A direct transfer to a bank account is one of the more common ways to transfer from Nigeria into Philippine Peso. Western Union Agent is the best company for bank transfers between Nigeria and Philippines.

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

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Afriex.

When signing up to a money transfer company to send between Nigeria and the Philippines, you will need to verify your ID.

The exact documents you need might vary and in some cases you will need more than one.

For the most part, in Nigeria this will be a government ID like a passport or driver's license. In the Philippines it will be a similar set of documents, although this should only be needed if you are opening a new account in the Philippines, or collecting in cash.

Big transactions between Nigeria and the Philippines, are subject to additional checks. A provider may ask you for proof of address or may want to know where the money comes from.

We recommend Western Union Agent in part due to their easy sign up process in Nigeria.

When sending large amounts of money between Nigeria and the Philippines there will be tax implications 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.

Tax limits and personal allowances differ in the Philippines based on age, income and a few other elements. When in doubt, please contact a tax professional in Nigeria or the Philippines to discuss your personal circumstances.