How to send money to Malta from Philippines with the best PHP-EUR rate

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

The current exchange rate between the Philippine Peso and Euro is 0.0144. Wise offers the best exchange.

The PHP-EUR exchange rate is always moving.

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

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

A bank transfer to Malta through Wise is 4.71% cheaper than the second-best option in the market.

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

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

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

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 Wise if you need to send large amounts of PHP to Malta. The combination of rates and fees when sending to Malta 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 the Philippines, or entering Malta. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Malta. 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 the Philippines to Malta 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 the Philippines into Euro. Wise is the best company for bank transfers between Philippines and Malta.

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

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 Wise.

When signing up to a money transfer company to send between the Philippines and Malta, 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 the Philippines this will be a government ID like a passport or driver's license. In Malta it will be a similar set of documents, although this should only be needed if you are opening a new account in Malta, or collecting in cash.

Big transactions between the Philippines and Malta, 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 Wise in part due to their easy sign up process in the Philippines.

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

Some transfers into Euro may need to be reported to tax authorities in Malta, particularly where inheritance or property purchases are involved.

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