Send Money to the Philippines

The Complete Guide to Sending Money to the Philippines from the United States

Why Filipino Families Trust Sharemoney

The Philippines is home to one of the world's largest diaspora communities. Over 10 million Filipino Americans live in the United States, maintaining deep family ties across the Pacific. Many work as nurses, healthcare professionals, seafarers, and skilled workers—the backbone of overseas Filipino (OFW) communities that power remittances home.

The Philippines receives over $35 billion in remittances annually, making it one of the top three remittance-receiving countries globally. These flows account for approximately 10% of Philippine GDP and are vital for millions of families. Remittances fund education for children, healthcare for aging parents, housing improvements, small business investments, and daily living expenses across rural and urban communities.

For OFW families, reliable remittance service isn't a convenience—it's essential infrastructure. Sharemoney understands this responsibility. We've built direct partnerships with the Philippines' leading banks (BDO, BPI, Metrobank, LandBank, PNB, UnionBank, Security Bank), the largest cash pickup networks (M Lhuillier, Cebuana Lhuillier, LBC, Palawan Express), and the fastest-growing digital wallets (GCash, Maya, GrabPay). These partnerships mean lower fees, faster transfers, and immediate access to funds when families need them most.

Our zero-fee first transfer lets Filipino-American families try Sharemoney risk-free. Choose the delivery method that works best for your family's needs and start building a reliable remittance routine.

How Much Does It Cost to Send Money to the Philippines?

Transparency is at the heart of Sharemoney's pricing. Here's exactly what you pay:

These are fixed fees with no hidden markups or surprise charges. Unlike traditional banks that charge $25–$50 for a single wire transfer, and international remittance services that apply 5–7% currency markups, Sharemoney offers transparent, predictable pricing.

On a $500 transfer, the difference is substantial. With Sharemoney, you pay $3.99 and your family receives ₱30,140.64. With a traditional bank wire, you'd lose over $25 in fees plus currency markups, resulting in your family receiving significantly less. The math is clear: Sharemoney puts more money into your loved ones' hands.

Delivery Methods Explained: Which Is Right for Your Family?

Bank Deposit: Secure & Familiar

Bank deposits are ideal for families who maintain traditional savings or checking accounts. Choose between two settlement methods: InstaPay (real-time transfers up to ₱50,000) settles funds within minutes during business hours, while PESONet (next business day, higher limits) offers greater flexibility for larger amounts. All seven major Philippine banks are supported—your recipient just needs their account number and the correct bank name. Funds are safely deposited, and there's no ID verification needed at the bank for receiving end. Fee: $3.99.

Cash Pickup: Immediate & Widespread

Cash pickup reaches beyond the banking system—anywhere across Luzon, Visayas, and Mindanao. Over 12,000 locations mean your family can access funds in Metro Manila, Bulacan, Pampanga, Ilocos, Quezon, Legaspi, Cebu, Iloilo, Davao, Cagayan de Oro, Zamboanga, and all other provinces. M Lhuillier operates 7,500+ branches, while Cebuana Lhuillier adds another 2,500+ locations. LBC, Palawan Express, and SM Malls extend coverage further. Recipients need a valid Philippine government-issued photo ID (passport, driver's license, PRC license, voter's ID, or barangay ID) and the transfer reference number. Funds are available immediately—perfect for urgent family needs. Fee: $3.99.

Mobile Wallets: Fastest & Cheapest

GCash dominates the Philippine digital wallet market with over 80 million registered users. Maya, GrabPay, Coins.ph, and StarPay are also rapidly gaining adoption. Mobile wallet transfers are instant—funds arrive within minutes—and cost just $3.99, our lowest fee. This method is perfect for recurring family support, allowing your recipient to use the balance immediately for bills, shopping, or withdrawal at any ATM. No bank account needed. Just provide your recipient's registered mobile number. For families sending regular monthly support for tuition, rent, or daily expenses, mobile wallets are the modern choice.

Quick Comparison: Choose Your Method

When Is the Best Time to Send Money to the Philippines?

Filipino families have natural rhythms for remittance needs tied to cultural events and seasonal patterns. Understanding these patterns helps you plan your transfers strategically.

Peak Remittance Seasons occur during major holidays and observances. December brings Noche Buena (Christmas Eve), when families reunite and celebrate—expenses surge for gifts, food, and travel. Many OFWs send significantly more in December, sometimes accounting for 15–20% of annual remittance flow. November's All Saints' Day (Día de Todos los Santos) traditionally calls for family gatherings and cemetery visits, another spending surge. June marks the back-to-school season, when tuition payments for the new academic year are due. January also sees increased needs as families settle holiday debts and start the new year.

Balikbayan Culture deeply influences remittance timing. Many OFWs plan annual or bi-annual trips home to visit family. Just before returning to the Philippines, they send additional funds or physical balikbayan boxes (packages filled with gifts, groceries, and supplies from the US). This cultural practice means remittance demand naturally peaks around these homecoming periods.

Monthly Recurring Transfers are the backbone of Filipino-American family finance. Thousands of OFW families set up automatic monthly transfers to cover their parents' rent, their children's tuition, their siblings' utilities, or aging relatives' healthcare. These predictable transfers provide stability and peace of mind for families on both sides of the Pacific. Many set transfers for payday—the 1st and 15th of each month—ensuring consistency.

Exchange Rate Timing also matters for larger transfers. The USD/PHP exchange rate fluctuates daily based on monetary policy, US Federal Reserve decisions, remittance flows, and global economic conditions. While you can't perfectly time the market, many savvy senders monitor rates and send when the PHP is stronger (meaning your $500 buys more pesos). Sharemoney's rate alerts let you set a target rate and be notified when conditions are favorable.

Understanding USD to PHP Exchange Rates

The Philippine peso has maintained relative stability over the past decade, typically trading in the 50–60 range against the US dollar. This stability makes the Philippines attractive for OFW remittances compared to more volatile currencies. Currently, the exchange rate hovers around 60.77 pesos per dollar, reflecting fundamental economic equilibrium between the two countries.

What Affects the USD/PHP Rate? The Bangko Sentral ng Pilipinas (BSP), the country's central bank, influences the rate through monetary policy decisions. When the BSP raises interest rates to combat inflation, the peso tends to strengthen, meaning higher rates for remittance senders. Conversely, when the US Federal Reserve adjusts rates, it affects the relative attractiveness of dollar-denominated assets. Global remittance flows themselves impact the rate—large seasonal inflows of remittances can temporarily weaken the peso as supply increases. OFW demand and geopolitical events also play roles.

How Sharemoney's Rate Compares to the mid-market rate (the theoretical "fair" rate between banks) is important to understand. We apply a small, fair spread to fund our operations and competitive pricing. Our spreads are typically narrower than traditional banks (which apply 3–5% markups) and competitive with other remittance services. Transparency is key—you always see our exchange rate before confirming your transfer, with no hidden adjustments.

Rate Timing Strategy: For large transfers, monitor the rate over a few days and send when conditions are favorable. For routine, ongoing support, set up a recurring transfer and let consistency work in your favor—averaging across good and average rate days.

Regulations and Compliance

Both the United States and the Philippines maintain strict regulatory frameworks for money transfers to protect consumers and prevent financial crime. Understanding these requirements helps you send money with confidence.

US Requirements: The Financial Crimes Enforcement Network (FinCEN) requires money transfer businesses to file Currency Transaction Reports (CTRs) for individual transfers exceeding $10,000. This threshold applies per transaction and per person per day. If you're sending multiple transfers totaling over $10,000 within a single day, they may be combined for reporting purposes. This is standard compliance, not a red flag. The IRS also requires reporting of certain foreign financial transactions. Additionally, Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations require Sharemoney to verify your identity (name, address, date of birth) and, for larger transfers, to understand the purpose of the transfer. These requirements protect all remittance senders and ensure the integrity of the system.

Philippine Regulations: The Bangko Sentral ng Pilipinas (BSP) oversees all money transfer organizations operating in the Philippines. BSP-licensed money transfer agents like our partners (M Lhuillier, Cebuana Lhuillier, LBC) must maintain strict compliance with anti-money laundering and counter-terrorism financing regulations. Cash pickup transactions are limited to ₱500,000 per transaction to prevent circumvention of reporting requirements. Recipients of cash pickup must provide valid government-issued photo identification for audit and compliance trails.

Sharemoney's Licensing & Compliance: Sharemoney operates as a licensed money transmitter in 49 US states and is regulated by state banking departments. Our NMLS number (899521) is publicly accessible on the Nationwide Multistate Licensing System & Registry. We comply with all FinCEN, IRS, BSP, and state-level regulations. Your transfers are protected by this regulatory framework and by Sharemoney's commitment to transparent, compliant operations.

Tips for First-Time Senders

Prepare the Right Information: Sending money successfully starts with accurate details. For bank deposits, have your recipient's full legal name (as it appears on their bank account), the exact bank name, and their account number. Spelling mistakes or incorrect account numbers can delay transfers. For GCash or mobile wallet transfers, just the mobile number registered with the service. For cash pickup, your recipient's full name, a valid Philippine government ID number, and the pickup location.

Start Small, Scale Up: If you're new to international money transfer, send a small amount first—$50–$100—to ensure the process works smoothly and your recipient successfully receives the funds. Once confirmed, scale up to your regular transfer amount. This reduces risk and builds confidence.

Verify Recipient Details: Call your recipient or video chat to confirm their account details before sending. A simple 5-minute conversation prevents mistakes that could delay delivery by days.

Understand Limits: Cash pickup transactions max out at ₱500,000. Bank deposits via PESONet allow higher amounts. Mobile wallet limits depend on account verification levels (basic vs. verified). When sending large amounts, plan accordingly based on your chosen method.

Start with a Zero-Fee Transfer: Sharemoney's zero-fee first transfer is designed exactly for this: send your first transfer with no fees, pick the delivery method that fits your family best, then continue with that method ongoing. This risk-free start removes friction and builds lasting remittance routines.

Set Up Recurring Transfers: After your first successful transfer, consider setting up automatic monthly transfers if you send regularly. Monthly recurring transfers eliminate friction, ensure consistency, and give your family predictable support. Set them for payday to align with your income.