With over $38 billion received in remittances annually, the Philippines has become one of the world’s largest remittance markets. This makes searching for the best money transfer services in the Philippines necessary for both individuals and businesses.

In this guide, we’ll break down the most trusted and reliable money transfer services in the Philippines that can cover your local and international needs.

Key Takeaways

• The Philippines has one of the most active remittance ecosystems in the world, so selecting the wrong money transfer service in the Philippines can affect how much a recipient gets.
• The top platforms, such as GCash, Maya, Wise, Remitly, and Palawan Express, cater to different needs. These needs depend on whether the sender is prioritising speed, low fees, accessibility, or convenience.
• Not all services support international transfers, so users must choose based on whether they need global remittance, local transfers, or both.
• Wallet-based apps excel in convenience, while cash-pickup services are essential for unbanked recipients across the country.
• Comparing payout methods, transfer speeds, and fees is the best way to choose the right money transfer service in the Philippines for yourself.

How Money Transfer Services Work in the Philippines

Money transfer services in the Philippines generally fall into two categories: international remittances coming from abroad and domestic transfers sent within the country.

For international transfers, senders typically pay in a foreign currency like USD, EUR, or AED, and the recipient in the Philippines gets the funds in Philippine pesos through a bank deposit, e-wallet, or cash pickup.

For domestic transfers, services often ride on local bank networks and e-wallets. This allows quick movement of funds between accounts or for over-the-counter pickup. Many providers now support payouts to major banks, pawnshop networks, courier outlets, and popular e-wallets, which are widely used across the country.

Top 10 Money Transfer Services in the Philippines

Here are some of the best money transfer services in the Philippines. This list considers the services for both domestic and international use.

1. GCash

GCash is the most widely used e-wallet in the Philippines. It has millions of people relying on it for their day-to-day bills, cash-ins, and remittances. Many international partners like Western Union, Remitly, and Wise now allow direct transfers into GCash accounts.

Strengths: Instant transfer crediting, works with multiple international partners, large acceptance network for payments, easy cash-out at pawnshops, ATMs, and retail stores.

Best For: Everyday transfers, mobile-first users, and fast remittances.

2. Maya (Formerly PayMaya)

Maya grew out of a regular e-wallet service to become a comprehensive financial app. They offer regular digital banking features like savings, investments, and loans in addition to their standard e-wallet functions.

Strengths: Competitive FX rates for inbound transfers, provides virtual and physical cards, and has a strong mobile app experience.

Best For: Users needing a mix of wallet, banking, and card services.

3. Western Union

Western Union is one of the most recognised money transfer services in the Philippines, thanks to its extensive physical network. The network spans multiple countries and has thousands of agent locations across the Philippines. It supports online, app-based, and in-person transfers, with payout via cash pickup, bank deposit, and e-wallet in many cases.

Strengths: Massive physical network, multiple send and receive channels, and high familiarity among Overseas Filipino Workers (OFWs) and their families.

Best For: Recipients who need cash quickly and live near a pickup location.

4. MoneyGram

MoneyGram is another long-established player used widely for remittance to the Philippines. Senders can transfer online, via app, or through agents, and recipients usually use cash pickup, bank deposit, or e-wallet.

Strengths: Broad international presence and strong cash pickup network, similar to Western Union.

Best For: Users who value flexibility between digital and physical payment sources.

5. Wise

Wise focuses on transparent pricing and mid-market exchange rates. This makes it a go-to option among freelancers, remote workers, and cost-conscious senders. Transfers typically go directly to Philippine bank accounts, with clear notes on fees and rates before you confirm the transaction.

Strengths: Real mid-market rates, itemised fees, and a strong online experience that appeals to digital-first users.

Best for: Bank-to-bank transfers with low overall cost for domestic use and transparent pricing and cost efficiency for international transfers.

6. Remitly

Remitly specialises in remittances with flexible “economy” and “express” options. Economy transfers are typically cheaper but slower, while express transfers deliver funds faster for a slightly higher cost. Recipients in the Philippines can get funds via bank deposit, cash pickup, or e-wallet.

Strengths: Clear delivery time estimates, frequent promotions for new customers, and strong support for popular payout methods.

Best For: OFWs who want a choice between speed and price for each transfer.

7. Xoom (PayPal)

Xoom, a PayPal service, lets you send funds from a PayPal-linked account, bank, or card, directly to banks, cash pickup locations, or billers in the Philippines. Its integration with the PayPal ecosystem makes it particularly convenient for people already using PayPal for business or freelancing.

Strengths: Familiar interface, wide reach, and the ability to use PayPal balances and linked funding sources.

Best For: Existing PayPal users and those paying directly into bank or biller accounts.

8. Kabayan Remit

Kabayan Remit targets Filipinos in countries like the UK, Europe, and North America who regularly send money home. They offer competitive exchange rates and low fees with coverage on major Philippine banks and popular payout partners.

Strengths: Niche expertise in UK-Philippine and EU-Philippines corridors. It also has strong support tailored to Filipino users.

Best For: Regular remittances from the UK/EU and overseas Filipinos who prefer a Philippines-focused specialist.

9. Palawan Express Pera Padala

Palawan Express has one of the fastest over-the-counter domestic transfer networks in the Philippines. As a popular cash pickup service, the platform has become a household name in terms of domestic transfers. Some transfer operators also route international payouts through Palawan branches. This offers convenient cash pickup options for many towns and rural areas.

Strengths: A wide physical presence, a straightforward process, and a strong brand recognition locally.

Best For: Recipients in provincial or rural locations who rely on over-the-counter cash services.

10. LBC/LBC Instant Peso Padala

LBC is a platform that combines logistics and remittances. They enable users to send cash along with packages or documents. Through Instant Peso Padala and partner arrangements, the recipients can claim their cash at an LBC branch or have the funds delivered, depending on the available options.

Strengths: Logistics plus remittance model, has a strong brand, and good coverage across cities and provinces.

Best For: Households that already use LBC for parcels and want to combine shipping and remittances.

Each of these money transfer services in the Philippines is either a top option locally or a solid option for international use.

Comparing the Top 10 Money Transfer Services in the Philippines

Based on the list, let’s put each of these providers in a table to identify which is the best option for you based on its speed, fees, and payout options.

We will also note the charges applied on a domestic transfer of 1000 PHP for each service to help us understand the cost-efficiency of each platform.

Based on the table,

If you require speed, wallet apps like GCash and Maya are your best picks when making domestic transfers. For international transfers, Wise and Remitly are the better picks since they can pay into their supported wallet apps too.

In cost-efficiency, the wallet apps, Palawan Express, and LBC are the best for domestic transfers.

For dexterity and multiple payout options, each of the above money transfer services in the Philippines is the best. Why? This is because your recipient or business can be credited anywhere in the Philippines, provided they have access to one payout method.

Why Choosing the Right Money Transfer Services Matters

Selecting the right provider can make a huge difference in how much money actually reaches your recipient. Many services charge hidden fees through exchange rate markups or slow their transfers with manual verifications. Others could limit payout options to specific banks.

A good provider, on the other hand, offers transparent pricing, fast delivery, and seamless connections with other payout methods. Especially in a country with diverse banking, e-wallet, and cash pickup preferences.

Today, if you need a money transfer service in the Philippines, you should demand:

• Lower fees to protect your transfer value.
• Instant or near-instant transfers.
• More payout options, like banks, e-wallets, cash pickup outlets, etc.
• Better mobile app experiences.
• Secure systems compliant with BSP regulations.

How to Choose the Best Money Transfer Service in the Philippines

The best money transfer service for you depends on your needs at the time of making a transaction. When you’re deciding which platform to use, consider the following.

1. Transfer Fees: Check fixed fees and exchange rate margins. Even a small FX markup can significantly reduce the final amount your recipients get.
2. Speed: Instant transfers are ideal for emergencies, while slower (economy) transfers often cost less.
3. Payout Method: Choose a service based on what your recipient uses most. It could be a wallet app, a bank account, or a cash pickup service.
4. Sender Location: Some services are cheaper or faster for specific origin countries.
5. Security & Licensing: Ensure the provider is regulated by the Bangko Sentral ng Pilipinas (BSP).

Final Thoughts

Finding the right money transfer services in the Philippines can save you money, reduce delays, and ensure funds reach your recipients safely.

Be it digital wallets, cash pickups, or bank transfers, the options in this guide provide reliable solutions for individuals and businesses today.

On that note, compare fees, speed, and payout methods, and then choose the provider that fits your needs best.

How DSGPay Supports Money Transfers in the Philippines and Beyond

If you’re sending money to the Philippines, getting paid from overseas, or settling business payments with Filipino clients or suppliers, DSGPay provides a quick and convenient way to move money.

With DSGPay, you can use one app to manage PHP and more than 30 other currencies, perfect for individuals and businesses alike.

Here’s what DSGPay offers:

• Open a Named Virtual Account: Receive payments inside the Philippines like a local transfer using a virtual account that carries your name or your business name.
• Send and Receive 30+ Currencies: Handle global payments easily, whether you’re getting paid from clients overseas or sending funds to international partners.
• Fast, Secure Transfers: Move money quickly through supported local and international rails, with security and anti-fraud systems protecting every transaction.
• Competitive FX Rates: Convert between PHP, USD, EUR, GBP, and other currencies at transparent, favourable FX spreads.
• Supports High-Volume or Business Transactions: Ideal for SMEs, online sellers, and freelancers who regularly handle global payments or international payouts.

These features allow users to manage cross-border transactions with confidence. From personal remittances to business payments, DSGPay supports a wide range of Philippine and global transfer needs.