PayPal is one of the most well-known and dependable platforms to transfer money online today. However, it's not always the cheapest. You can also opt for other reliable alternatives to receive and send money to the Philippines.
1. Xoom
Xoom is a PayPal service that allows you to send money to family and friends all around the globe. Whether you want to pay international bills or send money to a recipient's debit card, bank account, or mobile wallet, Xoom is usually a cheaper option to transfer money than PayPal.
2. Wise
Using Wise for money transfers is best for individuals or service-based businesses dealing in large volumes of international transactions. It allows quick transfer of funds and is easy to use. It is often the cheapest way to send money to the Philippines that offers a high USD to PHP exchange rate.
3. Xe.com
Xe is one of the most popular online currency exchange providers that allows you to send money in more than 60 currencies in over 130 countries. If you regularly transfer money internationally and want to save on every transaction, Xe can be your ideal choice. Why? Because Xe offers competitive exchange rates without any hidden fees.
4. Remitly
Remitly is a Seattle-based digital financial service provider that can transfer money in over 135 countries worldwide. It is one of the fastest money transfer platforms to get your money to the recipient within hours. The fee at Remitly ranges typically between 0.5% and 2.0%.
5. Instarem
Instarem offers fast and cost-effective international money transfer services for personal and business use in over 55 countries around the globe. InstaReM offers comparative transaction charges, ranging between 0.25% to 1.0%. It also provides faster transactions compared to many other modes of international money transfer.
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