How to Send Money to the Philippines – Practical Transfer Options for Long-Term Visitors and Expats

When you’re living in the Philippines long-term, one of the first things to sort out is how you’ll send money to the Philippines from overseas. Whether it’s a pension, savings, salary, or freelance income, the method you choose affects how fast the money arrives and how much actually reaches your account.

This guide explains the practical options people use today — from fintech apps and traditional bank transfers to newer alternatives like cryptocurrencies — including fees, exchange rates, transfer times, and what to expect when managing your finances while living in the Philippines long-term.

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Table of Contents

Click a topic below to jump directly to that section of the guide.

1.The Evolution of Overseas Money Transfers

2.Fintech vs Banks

3.Fintech Money Transfers

4.Cryptocurrency Transfers

5.Which Money Transfer Option Is the Best Value

6.Do Banks Still Play a Role

7.Money Transfer - Conclusions

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Explore The Site’s Hub Pages & Highlighted Articles

These three hubs are the foundation of the site — covering long-term living in the Philippines, diving across the Visayas, and the Filipino society that shapes everyday life here.

Below the hubs, you’ll find four hand-picked articles that go deeper into the practical side of living here long-term — including visa pathways, the SRRV route, managing power outages, and what a realistic $1,000/month lifestyle looks like on the ground.

The Evolution of Overseas Money Transfers – From Remittance Centers to Fintech

The way people send money across borders has changed dramatically over the last few decades. In the past, overseas workers and expats relied heavily on traditional remittance centers and wire transfers through major banks — often paying high fees and waiting days for confirmation.

Today, with the rise of digital platforms and fintech services, sending money to the Philippines is faster, cheaper, and more transparent than it was in the past. Understanding this shift helps explain why some older methods are now considered outdated, and why modern, technology-driven options are increasingly preferred by expats and long-term visitors.

Having worked and lived overseas, I’ve experienced this change first-hand — from slow wire transfers and high remittance fees to newer systems designed around speed, clearer pricing, and easier access. The table below outlines the key stages in how overseas money transfers have developed over time.

Fintech vs Banks: What's the Difference for Sending Money to the Philippines

When sending money to the Philippines, there are two main options: traditional banks and modern fintech platforms. Both can get your funds where they need to go, but they work very differently — and those differences can have a big impact on speed, cost, and transparency.

The Traditional Banking Route

A traditional bank is a fully licensed financial institution that provides a wide range of services, including checking and savings accounts, loans, credit cards, and international money transfers. Banks operate under strict government regulation, and customer deposits are typically insured.

When you send money abroad through a bank, the transaction typically goes through the SWIFT network — a secure system but often slower and more expensive than modern alternatives. Banks remain a trusted choice, especially for large or formal transfers, but they usually charge higher fees and offer weaker exchange rates.

Using Fintech Services

A fintech service is a financial technology company focused on delivering specific financial functions — like money transfers — through digital platforms. Services like Wise, Remitly, and WorldRemit use efficient routing systems and local bank partnerships to move money faster and at lower cost than traditional banks.

They are not full-service banks and don’t hold long-term deposits or issue loans, but they are licensed for payment processing and currency exchange. As a result, they’re often better suited to smaller, frequent international transfers. The table compares banks and fintech services side by side, highlighting the practical differences in speed, fees, exchange rates, and transparency.

Fintech Money Transfers to the Philippines

Fintech platforms have redefined how money is sent to the Philippines from overseas. For expats and retirees, these services address everyday challenges — reducing transfer costs, cutting delays, and offering clearer pricing than traditional banking. With just a smartphone, users can move funds directly into local accounts or e-wallets like GCash and Maya, track transfers in real time, and receive confirmation when the money arrives. What was once a niche option has now become a mainstream solution for managing cross-border finances.

Choosing the Right Fintech Platform

Digital transfer platforms differ significantly in how they handle fees, exchange rates, transfer speeds, and payout methods. Choosing the right fintech service depends on understanding these differences and how well each platform integrates with Philippine banks and local e-wallets.

There are dozens of fintech platforms offering international money transfers, each with its own strengths and limitations. Not all are equally established or widely supported in the Philippines. This guide focuses on three platforms that are consistently used by expats and retirees due to their reliability, cost structure, and ease of use: Wise, Remitly, and WorldRemit.

Are Fintech Services Safe for Sending Money?

Security is a common concern when moving money internationally, especially when using app-based services instead of traditional banks. Most established fintech platforms operate under financial regulations in their home jurisdictions and use standard safeguards such as identity verification, encryption, and transaction monitoring.

Major fintech services commonly used to send money to the Philippines are generally considered safe when used as intended. These companies are regulated by financial authorities in the countries where they are based and typically work with licensed local banking and payment partners in the Philippines. Common protections include encryption, two-factor authentication (2FA), and fraud monitoring systems designed to protect both funds and personal data.

While these platforms are licensed for payment processing, they are not banks, meaning user balances are not protected by traditional deposit insurance. Funds are typically held in segregated accounts and are not used for lending or investment. As with any digital financial service, safety also depends on user behaviour — including securing login details, confirming recipient information, and avoiding unofficial links. Used properly, fintech platforms are trusted worldwide for secure international money transfers.

How to Open a Fintech Account

All three services are designed for ease of access and can usually be set up with just an email address and valid identification. A Philippine address is not normally required, making these platforms suitable for expats and long-term visitors. Depending on the service and payout method, you may need a local bank account or e-wallet in the Philippines to receive funds.

Identity verification is required, particularly for higher transfer limits, but the process is typically completed online in a matter of minutes. Once verified, transfers can be managed easily from a phone or laptop, allowing users to send money internationally wherever they are based.

Cryptocurrency Transfers: An Emerging Option

Cryptocurrency is increasingly being explored as an alternative way to send money internationally — including to the Philippines. Coins and tokens like USDT (Tether), Bitcoin, and Ethereum enable peer-to-peer transfers without going through traditional banks or fintech services. For tech-savvy users or those sending larger amounts, crypto can offer fast transactions and, in some cases, lower costs.

That said, cryptocurrency carries its own risks. Prices can be volatile, and converting crypto to pesos still requires third-party apps, exchanges, or local traders — some of which operate without regulation. For most retirees and expats, who often prioritise stability and ease of use, crypto is best seen as a supplementary option rather than a mainstay for everyday remittances.

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Cost Comparison: Which Money Transfer Option Is the Best Value?

The cost of sending money can vary widely depending on the amount, the sending country, the delivery method, and the provider. In general, fintech platforms like Wise, Remitly, and WorldRemit offer lower fees and more competitive exchange rates than traditional banks. The table below shows an illustrative comparison for sending the equivalent of $500 USD to a bank account or e-wallet in the Philippines.

All cost estimates are for illustration only and based on publicly available data as of mid-2025. Actual fees, exchange rates, and delivery times will vary by provider, payment method, sending country, and market conditions. For cryptocurrency, the amount received can also be affected by price volatility and conversion fees. Always check the live quote on the provider’s official platform before sending money.

Do Banks Still Play a Role in Overseas Money Transfers?

Yes — banks remain an important part of the process. Most expats and retirees keep a bank account in their home country, often used to receive pensions, retirement income, rental earnings, or business payments. While that account might not be used for everyday spending in the Philippines, it usually serves as the starting point for moving funds internationally — whether through a fintech service or a direct bank-to-bank wire.

In many cases, banks also work behind the scenes of fintech transfers. Platforms like Wise, for example, rely on partner banks to process local settlements in both the sending and receiving countries. This banking infrastructure makes low-cost, fast transfers possible — even if you never interact with a bank directly during the process. In short, fintech hasn’t replaced banks; it works with them.

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Conclusion: Choosing the Right Way to Send Money to the Philippines

Whether you’re a retiree managing pension income, an expat supporting family, or simply transferring funds to a local account, how you send money makes a real difference. Fintech platforms like Wise, Remitly, and WorldRemit offer fast, transparent, and reliable services that have become the preferred choice for millions worldwide — often beating traditional banks on both speed and cost. Cryptocurrency may appeal to tech-savvy senders but brings added complexity and higher risk.

The best choice depends on your priorities — cost, speed, convenience, or payout flexibility. For most expats in the Philippines, starting with a trusted fintech app is the simplest and most secure way to move funds from overseas. If you’re managing long-term finances here, try a few platforms, compare results, and stick with the one that consistently delivers the best value for your needs.

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Live Life The Philippines – Highlighted Articles

The articles below focus on the practical realities of living in the Philippines long-term, covering essential topics such as healthcare, driving and vehicle ownership, power reliability, and visa requirements. Each guide is designed to explain how things actually work on the ground, helping expats and long-stay visitors move from planning to everyday living with fewer surprises.

Overseas Money Transfers – Frequently Asked Questions

Do I need a Philippine bank account to receive money from overseas?

In many cases, yes — especially if you want the money to end up in a Philippine e-wallet. Some services can pay out to e-wallets, but this often depends on the provider’s payout setup and may require the wallet to be linked to a local bank account or routed through a bank-linked transfer. The most universally accepted option remains a Philippine bank deposit.

What information is required to send money to the Philippines?

Most services require basic sender details, identity verification, and the recipient’s payout information. Depending on the delivery method, that may be a Philippine bank account number, a mobile number for wallet delivery, or details for cash pickup. Entering the recipient details correctly is one of the most important steps to avoid delays.

Are fintech transfers treated differently from bank wires in the Philippines?

Usually not. Fintech transfers that arrive through licensed local banking or payment partners are generally processed like other incoming transfers. For larger or repeated transfers, banks or payment partners may request additional verification as part of routine compliance checks.

Can I use fintech services long-term while living in the Philippines?

Yes. Many expats and retirees use fintech platforms to manage regular overseas income such as pensions, savings drawdowns, or freelance payments. As long as your identity verification remains current and your payout details are correct, these services are typically straightforward to use long-term.

Is cryptocurrency a practical option for regular money transfers?

For most long-term residents, cryptocurrency is best treated as a supplementary option. While it enables peer-to-peer transfers, converting crypto into Philippine pesos usually requires an exchange or third-party service, which adds complexity and risk compared with mainstream fintech transfers.

What is the safest way to avoid problems when sending money internationally?

Use established providers, double-check recipient details, and keep records of each transfer (receipts, reference numbers, and confirmations). Secure your account with strong passwords and two-factor authentication where available, and avoid unofficial links or third-party “helpers” offering to move money on your behalf.

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