SEND MONEY | PHILIPPINES
Rates checked 13 Oct 2026, 12:43 UTC
Sending £500 to the Philippines on 13 October 2026, Wise pays PHP 41,345, a total cost of 0.63% against the mid-market rate of 83.22. The most expensive of the 12 providers tracked, OFX, costs 5.27%, leaving the recipient PHP 1,930 less. |
KEY FACTS
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Send £500 to Philippines: today's rates
| # | Provider | Fee | Rate | They receive | Total cost |
|---|---|---|---|---|---|
| 1 | Wise Transfer app | £3.17 | 83.2173 | PHP 41,345 | 0.63% |
| 2 | Instarem Transfer app | £0.00 | 82.6876 | PHP 41,344 | 0.64% |
| 3 | Remitly Transfer app | £0.00 | 82.3932 | PHP 41,197 | 0.99% |
| 4 | Moneygram Transfer app | £1.49 | 82.4538 | PHP 41,104 | 1.21% |
| 5 | Western Union Transfer app | £1.99 | 82.3607 | PHP 41,016 | 1.42% |
| 6 | Monese Bank | £10.00 | 82.8624 | PHP 40,603 | 2.42% |
| 7 | Barclays Bank | £0.00 | 80.7986 | PHP 40,399 | 2.91% |
| 8 | Xoom Transfer app | £1.99 | 80.7487 | PHP 40,214 | 3.35% |
| 9 | Skrill Transfer app | £0.00 | 79.3069 | PHP 39,653 | 4.70% |
| 10 | Nationwide Bank | £15.00 | 81.5141 | PHP 39,534 | 4.99% |
| 11 | PayPal Transfer app | £2.99 | 79.4222 | PHP 39,474 | 5.13% |
| 12 | OFX Transfer app | £7.00 | 79.9499 | PHP 39,415 | 5.27% |
Sending £500. Mid-market rate 83.2173. Total cost combines the fee and the exchange-rate markup against the mid-market rate. Quotes older than 48 hours are left out.
Send £100 to Philippines
| # | Provider | Fee | Rate | They receive | Total cost |
|---|---|---|---|---|---|
| 1 | Instarem Transfer app | £0.00 | 82.6876 | PHP 8,269 | 0.64% |
| 2 | Remitly Transfer app | £0.00 | 82.3932 | PHP 8,239 | 0.99% |
| 3 | Wise Transfer app | £1.06 | 83.2173 | PHP 8,234 | 1.06% |
| 4 | Moneygram Transfer app | £1.49 | 82.4538 | PHP 8,123 | 2.39% |
| 5 | Barclays Bank | £0.00 | 80.7986 | PHP 8,080 | 2.91% |
| 6 | Monese Bank | £3.00 | 82.8624 | PHP 8,038 | 3.41% |
| 7 | Western Union Transfer app | £1.99 | 81.6203 | PHP 8,000 | 3.87% |
| 8 | Skrill Transfer app | £0.00 | 79.3069 | PHP 7,931 | 4.70% |
| 9 | Xoom Transfer app | £1.99 | 80.6192 | PHP 7,901 | 5.05% |
| 10 | PayPal Transfer app | £2.99 | 79.4222 | PHP 7,705 | 7.41% |
| 11 | Nationwide Bank | £15.00 | 81.5141 | PHP 6,929 | 16.74% |
Sending £100. Mid-market rate 83.2173. Total cost combines the fee and the exchange-rate markup against the mid-market rate. Quotes older than 48 hours are left out.
Send £1,000 to Philippines
| # | Provider | Fee | Rate | They receive | Total cost |
|---|---|---|---|---|---|
| 1 | Wise Transfer app | £5.79 | 83.2173 | PHP 82,735 | 0.58% |
| 2 | Instarem Transfer app | £0.00 | 82.6876 | PHP 82,688 | 0.64% |
| 3 | Remitly Transfer app | £0.00 | 82.3932 | PHP 82,393 | 0.99% |
| 4 | Moneygram Transfer app | £1.49 | 82.4538 | PHP 82,331 | 1.07% |
| 5 | Western Union Transfer app | £1.99 | 82.3607 | PHP 82,197 | 1.23% |
| 6 | Monese Bank | £20.00 | 82.8624 | PHP 81,205 | 2.42% |
| 7 | Xoom Transfer app | £0.00 | 80.9106 | PHP 80,911 | 2.77% |
| 8 | Barclays Bank | £0.00 | 80.7986 | PHP 80,799 | 2.91% |
| 9 | Nationwide Bank | £15.00 | 81.5141 | PHP 80,291 | 3.52% |
| 10 | OFX Transfer app | £7.00 | 79.9499 | PHP 79,390 | 4.60% |
| 11 | Skrill Transfer app | £0.00 | 79.3069 | PHP 79,307 | 4.70% |
| 12 | PayPal Transfer app | £2.99 | 79.4222 | PHP 79,185 | 4.85% |
Sending £1,000. Mid-market rate 83.2173. Total cost combines the fee and the exchange-rate markup against the mid-market rate. Quotes older than 48 hours are left out.
Philippines transfer history
KT has recorded this corridor daily since 13 October 2026. A 14-day history of the best £500 transfer builds here as each day is added.
How the cost of sending money to Philippines is worked out
The total cost of a transfer is the upfront fee plus the exchange-rate markup, which is the gap between the provider's rate and the mid-market rate. This means that a provider advertising zero fees can still be expensive if its exchange rate carries a large markup. To illustrate, on 13 October 2026, sending 500 pounds to the Philippines with Wise resulted in the recipient receiving PHP 41,345, with a total cost of 0.63%. In contrast, the most expensive provider tracked, OFX, had a total cost of 5.27%, which is PHP 1,930 less for the recipient. These figures are based on 12 providers with quotes collected in the last 48 hours. The comparison highlights how the combination of fees and exchange rate markup determines the overall cost. Consumers may find it useful to consider both elements when evaluating transfer options, as a low upfront fee does not necessarily mean a low total cost. The mid-market rate serves as a benchmark, and the markup represents the provider's margin. Therefore, understanding the total cost is essential for making informed decisions.
Ways to receive money in Philippines
Payout options in the Philippines include bank accounts, e-wallets such as GCash and Maya, and cash pickup at remittance and pawnshop centres. These methods provide flexibility for recipients, depending on their preferences and accessibility. Bank accounts are a common choice for those who have formal banking relationships, while e-wallets offer convenience for individuals who use digital financial services. Cash pickup remains an option for those who may not have access to banking or e-wallet services, or who prefer immediate access to funds. The availability of multiple payout methods means that senders can choose a service that aligns with the recipient's needs. When selecting a provider, it is important to consider the payout options offered, as these can affect the speed and ease of receiving money. Additionally, the cost of a transfer may vary depending on the chosen payout method, although the total cost is primarily determined by the upfront fee and exchange-rate markup. Overall, the range of options supports financial inclusion and accommodates diverse recipient circumstances.
Rules on the receiving side in Philippines
Remittance and money transfer companies in the Philippines are supervised by the Bangko Sentral ng Pilipinas. This regulatory oversight ensures that these institutions comply with established guidelines and maintain certain standards. The Bangko Sentral ng Pilipinas is responsible for overseeing the financial system and promoting stability. For transfers, the Philippines has specific systems in place: InstaPay is the Philippines' real-time transfer system for payments up to PHP 50,000 per transaction, and PESONet handles larger batch transfers. These systems facilitate the movement of funds between accounts and institutions. When sending money to the Philippines, it is important to be aware of these rules and systems, as they can affect how quickly and efficiently funds are received. The supervision by the Bangko Sentral ng Pilipinas aims to protect consumers and ensure the integrity of remittance flows. Recipients may need to provide identification or meet other requirements depending on the payout method and amount, although specific rules are set by the institutions involved. Understanding the receiving side's regulations can help senders and recipients navigate the process smoothly.
UK rules for people sending money abroad
UK money transfer firms must be authorised or registered by the Financial Conduct Authority as payment institutions or e-money institutions, and the FCA register shows whether a firm is permitted. This regulatory requirement helps ensure that firms meet certain standards. Money held by payment and e-money institutions is safeguarded, which means it is kept separate from the firm's own money; it is not covered by the Financial Services Compensation Scheme. This safeguarding provides a level of protection for customers' funds. Regarding tax, there is no UK tax on sending your own money abroad. However, gifts can count for UK inheritance tax; each person has a 3,000 pound annual gift exemption, and regular gifts made from surplus income can also be exempt. These rules apply to individuals sending money from the UK. It is advisable to check the FCA register to confirm a firm's permissions before using its services. Being aware of these regulations can help senders make informed choices and understand their rights and obligations.
RELATED GUIDES |
DISCLAIMER Kael Tripton is an independent publisher. It is not a money transfer provider and does not arrange transfers. Rates are quotes collected from provider websites and can change at any time; check the final amount with the provider before you pay. Sponsored placements are labelled and never change the ranking. |
Frequently asked questions
What is the cheapest way to send money to Philippines from the UK today?
On 13 October 2026, Wise paid the most for a £500 transfer: PHP 41,345, a total cost of 0.63%. Rankings change daily, so check the table above before sending.
Why is the amount received different between providers?
Each provider sets its own fee and its own exchange rate. The gap between that rate and the mid-market rate is a hidden markup, so the amount received is the fairest way to compare.
Is a zero-fee transfer always the cheapest?
No. A provider with no fee can still cost more if its exchange rate carries a large markup. The total cost column combines both.
Is my money protected when I use a transfer app?
Payment and e-money firms must safeguard customer money, keeping it separate from their own funds. This is not the same as FSCS cover. Check that a firm is on the FCA register before sending.
Do I pay UK tax when I send money abroad?
There is no UK tax on sending your own money abroad. Large or regular gifts can matter for inheritance tax; each person has a £3,000 annual gift exemption.
SOURCES
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