How to Send Money to the
Philippines from the UK?
Many Filipinos work in the UK to support themselves and their families. They send savings to their families in the Philippines to cover their daily expenses. There is a need to send money to maintain all the necessary life customs. When sending money, they look for the best ways to transfer funds to the Philippines from the UK. To send money from the UK to the Philippines, you must evaluate various options like online bank deposits, traditional bank transfers, or cash transfer services. During the money transfer stage, you must consider factors such as costs, speed, exchange rates, and convenience fees. Continue reading this blog to discover the best ways to easily send money to the Philippines from the UK with ease.
Steps to Send Money from any Online Money Transfer Services
Most online money transfer services have similar steps for sending money. We have structured a concise set of steps that can be implemented on multiple sites. You must consider these steps to secure your payment comfortably. However, some steps may differ; you must be cautious with those.
- Create a free account on your chosen Online Money Transfer Services website or mobile app.
- Select the receiver country (Philippines).
- Choose the payout option, like cash pickup, mobile wallet, bank deposit, or airtime top-up.
- Fill in the recipient's information, mentioning name, address, contact details, and bank account (if requested).
- Mention the amount you wish to send.
- Check the exchange rates to confirm the sum they will receive in PHP.
- You can pay using your preferred method (debit card, credit card, bank transfer, or any other method).
- Monitor the transfer with your recipient in real time.
If required, you must communicate with your chosen Online Money Transfer Services customer service team and review the query to solve it.
Information Required to Transfer Money
- The recipient's full name as displayed on their ID.
- Recipient's bank details, if sending to a bank.
- A contact number or email is used for tracking or collection.
- A transfer reason is necessary for financial regulations.
- Your valid national ID, especially for first-time users.
What is the Best Way to Send Money to Philippines from UK?
Looking for ways to send money to Philippines from UK? You can send money from any part of the world, including the United Kingdom, in various ways, each with its own benefits depending on the amount, speed, and how your recipient prefers to receive the funds. Let's explore them one by one:
Wise
Wise, formerly known as TransferWise, is well known for its transparency. It uses the mid-market exchange rate and charges low, flat fees based on the amount. According to some reports, Wise is one of the cheapest ways to send money from the UK to the Philippines. Depending on the amount and timing of the request, the delivery time will vary, typically between 1 and 2 business days and, in some cases, within a few hours. Wise is preferred by many as it has one of the best conversion rates, helping you to get the best return for your hard-earned money.
Remitly
You can easily opt for Remitly if you are looking to send money to the Philippines from the UK at more affordable prices. Remitly is designed for remittances for people who need to send money at lower charges and with higher speed. They offer two types of transfers: Economy and Express. The Economy option is cheaper but slower; the Express option is more expensive but nearly instant. Depending on the type of transfer service you choose, you may need to wait up to 3 days to receive the money; however, if you can pay more for the Express service, you can send money instantly.
Western Union
Western Union is one of the best in business when it comes to convenience, commitment, and security. When you choose Western Union to send your money to the Philippines from the UK, you will get the best conversion rates, helping you to save more on charges and receive a good portion of the amount. The fees are flexible as well, varying based on the payout method and the amount sent. Plus, the app makes sending money a breeze whenever you need it, with real-time tracking of your transfers and excellent 24/7 customer service, which ensures you get better interaction. Charges are lower compared to other Online Money Transfer Services, making it a good choice to send money without any complexities.
WorldRemit
WorldRemit is another excellent platform that is appreciated for its wide range of payout options and user-friendly interface. You can send money instantly, though the charges are slightly higher; however, it offers one of the best conversion rates. Depending on your chosen method, delivery times can be impressively quick. WorldRemit also supports cash transfers and mobile wallet deposits, which often take minutes, while bank transfers usually require about 1 to 2 days.
You do find multiple other service providers who will assist you in sending money from the United Kingdom to the Philippines. We have discussed only a few of them. Connect with the customer service team, compare exchange rates and transfer fees to determine the best platform to send money to Philippines from UK.
Other Ways to Send Money
If you do not wish to continue with the above-mentioned ways, you can even send money via bank transfer or cash. These methods are discussed here in layman's terms:
Via Banks
Banks like HSBC, Barclays, and Lloyds offer traditional bank wire transfers through the SWIFT network. These systems take up to 5 business days to deliver the money from the source account to the receiver account. However, transfer fees vary from £10 to £30, even more depending on the total amount, service charges, receiver account, exchange rate, and other limitations. These services are regarded as one of the most secure ways to send money from the UK to the Philippines, though the process can be slow and costly.
Via Cash
Cash transfer services like Western Union and MoneyGram offer quick and convenient options for sending money to many pickup locations in the Philippines. These are one of the most convenient and easy ways to send money. Depending on the charges you wish to pay, you can send money within a few minutes without any hassle. The transfer fees can vary, ranging from £4 to £40, making it accessible for those who may not have bank accounts. However, you may need to pay higher fees, and exchange rates are lower, which might not be as favourable.
What is the Conversion Rate and the Associated Transfer Fees?
There are multiple service providers, allowing you to send money from the UK to the Philippines. You can choose the best according to you. However, we suggest you check the transfer and exchange rates. This information will help you determine the value your family or friends will receive after payment. Don't be a fool with zero markup, as there are multiple complex terms associated, which may not get you the exact amount. You must do complete research and communicate with the customer service team of each service provider before selecting one. For extended information, you can check the table mentioned below.
| Providers | Exchange Rate (1 GBP= PHP) |
Transfer Fees (GBP) |
|---|---|---|
| MoneyGram | 75.4364 | 0.00 |
| Wise | 75.3500 | 6.66 |
| Instarem | 74.6889 | 0.00 |
| Remitly | 74.6700 | 0.00 |
| Western Union | 74.0718 | 1.99 |
| WorldRemit | 73.9010 | 0.00 |
| Monese | 74.9715 | 20.00 |
| Xoom | 73.3632 | 0.00 |
| Barclays | 73.1582 | 0.00 |
| Nationwide | 73.6345 | 15.00 |
| OFX | 72.3305 | 7.00 |
| PayPal | 71.6461 | 2.99 |
The exchange rate and transfer fees will vary depending on various factors. Before choosing your Online Money Transfer Services, you must compare the updated charges and rates. You can also communicate with the respective customer team of your preferred Online Money Transfer Service provider and select the best one that fits your needs.
Tips to Save Money and Time
- Consider sending larger amounts less often to help minimise those per-transfer fees.
- You must use promotional and referral codes to enjoy discounts on transfer fees.
- Compare different providers through handy tools like CompareRemit and many others.
- Check for any hidden charges that might come up in currency conversion rates.
- Avoid delays by not scheduling your transfers during peak times or on weekends.
- Exchange rates need to be higher, and transfer rates need to be on the lower side.
- Choose platforms regulated by the UK's Financial Conduct Authority (FCA).
- Look for two-factor authentication and positive reviews.
- Choose instant transfer services like Remitly Express or Western Union for emergencies.
Transferring money via any remittance provider will be much simpler if you apply the helpful tips outlined above. It's an excellent method for sending your hard-earned money from the United Kingdom to the Philippines or anywhere else in the world.
Why Do People Send Money to the Philippines?
Are you looking for the best way to send money from the UK to the Philippines? Before we explore the best and cheapest methods for transferring money from the United Kingdom, let's consider the significant role of remittances in the Philippines. Every year, billions of dollars flow into the country from its hardworking global workforce in the United Kingdom.
- Many Filipinos abroad send money home to support families with daily expenses, covering needs like food, utilities, and transportation. Education is another key reason for sending money, as these funds help pay for tuition, books, and school-related costs for children or siblings.
- Healthcare is also important; families rely on remittances for medical expenses and emergency treatments. Many use this money to build or renovate homes, ensuring their loved ones have a comfortable place to live. Some also use it to assist with loans or mortgages in the Philippines.
For those with entrepreneurial dreams, remittances can serve as capital for small businesses, enabling families to thrive. Furthermore, these funds assist families in celebrating special occasions like Christmas, birthdays, fiestas, and significant religious events. In short, without remittances, life would be challenging for those living in the tropical haven. Thus, sending money to the Philippines from the UK is essential.
Conclusion
With the advancement of technology in remittances, transferring your hard-earned money from the UK to the Philippines has become simpler. While multiple traditional banks offer transfer options, services like Wise, Remitly, and WorldRemit provide better exchange rates, faster delivery, and minimal time to deliver the amount to the receiver's account. Compare all Online Money Transfer Services and select the one that fits your budget to secure the best possible value.