Sending money to the Philippines from abroad is exceptionally easy. The number of fast and affordable services available is great. The main thing to watch out for, however, is hidden currency conversion costs according to our experts. These hidden fees can eat up 2.5-4% of your money without you realising it.
The current exchange rate for the Philippine Peso (PHP) is 52.3355 PHP per American Dollar (USD) as of the time this was written. The PHP reached a high of 52.7710 PHP per USD and a low of 50.9140 PHP per USD during the last 90 days. The average exchange rate over the last 90 days was 51.7026 PHP per USD.
The PHP held an average volatility rate of 0.31% against the USD for the last 90 days. This is a moderate volatility rate, and the PHP has fluctuated moderately during the past year. Going forward, you can reasonably expect only moderate fluctuations to continue, barring any unforeseen circumstances.
The fastest way to send funds is through ShareMoney. With ShareMoney, you can expect your money to reach its destination in the Philippines in a matter of minutes. The service is also incredibly cheap and costs less than the vast majority of its much slower competition. When it comes Philippines, hidden currency conversion costs are often intensified in order to make more money. With ShareMoney, even the hidden currency conversion rates are agreeable.
The cheapest way to send money online to the Philippines is through TransferWise. With TransferWise, you pay a stated, upfront fee that appears a bit expensive at first. The real savings come from the fact that TransferWise is a peer-to-peer money transfer system that doesn’t charge ANY hidden conversion costs. This cannot be said of any of the competition because they make far more money off the hidden fees than they do from upfront, stated fees.
The easiest way to transfer money to the Philippines is through TransferWise. They offer a very simple process that can be repeated easily once your account is set up. All you need to do is follow these steps:
The cheapest way to send funds online is through TransferWise. TransferWise is the cheapest option available to you if you need to transfer funds online, and it’s also the easiest to use. Unlike the rest of the competition, TransferWise won’t catch you by surprise with hidden currency conversion costs. TransferWise is also competitive when it comes to speed, as they are much faster than the majority of the competition, which is also much, much more expensive.
With TransferWise you can also: