Asia
Send Money to Philippines
Last updated: February 2026|Written by Matt Woodley
Quick Facts
Important Note
BSP reporting for large amounts
Sending money from the UK to Philippines requires choosing the right provider for GBP to PHP transfers. The exchange rate, fees, and delivery speed vary significantly between providers. Below we cover how money transfers to Philippines work, what the banking system looks like on the receiving end, how to avoid common pitfalls, and which FCA-regulated providers offer the best rates for PHP transfers in 2026.
How Money Transfers to Philippines Work
The Philippines uses InstaPay (up to PHP 50,000) and PESONet for larger domestic transfers. International transfers arrive via SWIFT or local payout partners. Major banks include BDO, BPI, Metrobank, and Landbank. GCash and Maya are widely used mobile wallets. Cash pickup is available at banks, pawnshops, and convenience stores.
Common Reasons People Send Money to Philippines
- Family support and remittances (4th largest remittance recipient globally)
- Medical and hospital bills
- Education fees for children
- Property construction and renovation
- Emergency funds
Tax & Regulatory Information
The Philippines does not tax incoming international remittances. Remittances from OFWs are exempt from all taxes. If funds are considered income (e.g., freelance payments), they may be subject to Philippine income tax. The BSP monitors large transactions for anti-money laundering purposes.
This is general guidance only. Consult a qualified tax adviser for advice specific to your circumstances.
GBP/PHP has ranged from 70 to 76 in 2024-2026. The Philippine Peso is relatively stable against GBP. The Philippines receives over USD 35 billion in annual remittances, making it one of the world's largest remittance markets.
Bank vs Specialist: How Much Can You Save on PHP Transfers?
Indicative rates based on a typical GBP 10,000 transfer. Actual rates vary by provider and market conditions.
| Metric | High-Street Bank | Specialist Provider |
|---|---|---|
| Exchange Rate | 70.50 | 73.80 |
| Transfer Fee | £25 | £0 |
| Estimated Saving | -- | Save ~4.9% |
Rates are indicative and updated periodically. Check live rates with each provider for the most accurate quote.
Best Providers for Sending Money to Philippines
We have reviewed and rated the top money transfer services for sending money to Philippines. All providers below are licensed, regulated, and IMT accredited.
Currencies Direct
IMT Score: 94/100Best Overall for Large Transfers
Fees
Zero fees
Speed
1-2 days
Min.
$100
TorFX
IMT Score: 91/100Best for Property Purchases
Fees
Zero fees
Speed
1-2 days
Min.
£100
Wise
IMT Score: 92/100Best for Speed & Small Amounts
Fees
Low transparent fee
Speed
Minutes to hours
Min.
£1
OFX
IMT Score: 88/100Best for 24/7 Support
Fees
Zero fees over £1,000
Speed
1-3 days
Min.
£100
XE
IMT Score: 87/100Best for Currency Coverage
Fees
No transfer fees
Speed
1-4 days
Min.
£1
Disclosure: We may receive compensation when you click on links to providers on this page. This does not affect our editorial independence or the ranking order. Our reviews are based on independent research and real customer feedback. Read our editorial policy.
5 Expert Tips for Sending Money to Philippines
Practical advice from our editorial team, based on market data and feedback from thousands of users who have sent PHP.
GCash is the fastest payout method -- funds can arrive within minutes
Cash pickup is available at thousands of locations including pawnshops and convenience stores
For regular family support, set up a recurring transfer to save time
Wise and Remitly typically offer the best rates for PHP transfers
Always confirm the recipient's full name exactly as it appears on their ID for cash pickup
Frequently Asked Questions: Sending Money to Philippines
What is the cheapest way to send money from UK to Philippines?
Wise and Remitly offer the best rates for PHP. Both use local payout networks (GCash, bank transfer, cash pickup) which avoids SWIFT fees entirely. On a GBP 500 remittance, you save approximately PHP 1,500-2,000 vs a bank.
How can my recipient receive money in the Philippines?
Four main options: bank deposit (BDO, BPI, Metrobank, Landbank), GCash/Maya mobile wallet (instant), cash pickup at pawnshops and convenience stores, and door-to-door delivery in some areas. GCash is the fastest and most popular for smaller amounts.
Is there tax on remittances to the Philippines?
No. Incoming international remittances are not taxed in the Philippines. This applies to both OFW remittances and personal transfers. The BSP actively encourages inward remittances and has removed barriers to receiving foreign funds.
How long does a UK to Philippines transfer take?
GCash and Maya payouts arrive within minutes. Bank deposits take a few hours to 1 business day. Cash pickup via Western Union or MoneyGram is available within minutes. SWIFT transfers through banks take 3-5 business days and are the slowest, most expensive option.
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