During the last several years, the amount sent from Canada to the Philippines has been increasing. In 2021, it was roughly USD1.15 billion, and the most popular transaction method involved using international money transfer platforms.
This Moneyzine guide will cover MTPs, bank services, and some other methods to send money from Canada to the Philippines. Here is everything you should know about using this corridor for international transactions to send money from Canada to United States!
How to Send Money from Canada to the Philippines Using an Online Money Transfer Provider?
The process of sending money to the Philippines from Canada by using an online money transfer service is simple. You only need to follow these three steps to execute a transaction!
Step 1: Compare Providers to Find the One That Best Fits You
Step 2: Sign Up with the Chosen Provider
Step 3: Transfer the Money
How to Send and Receive Money from Canada in the Philippines
Money transfer platforms are the top way to send funds to the Philippines. Here are the details about MTPs and other alternatives when using the corridor from Canada!
Money Transfer Services
Transfers from Canada to the Philippines could only take seconds with international money transaction providers. Some methods, such as debit or credit cards, are processed instantly. Others, such as bank account transfers, might take a business day or two.
Once you register and verify your identity on a money transfer company website, it only takes completing a simple form to send money from Canada to the Philippines. Everything is easy, even for beginners, and you can use websites or mobile apps. Multiple delivery methods are available, and you often get benefits when sending frequently.
If you’d like to learn more about money transfer provider transfer methods, read our guide on sending money to the Philippines to discover all details.
Bank Transfers
For a long time, bank account transfers have been the most popular service in this corridor. But today, they are an expensive and slow option. Although they are reliable, it could take days for the money to be available.
Here’s a quick comparison that shows how money transfer platforms outperform banks:
| Costs & Fees | Instarem | Philippine National Bank (PNB) |
| Transfer fees | 0% | From USD4.98 to USD 47 |
| Receiving fees | 0% | Vary |
| Exchange rate margin | 0-3% | 0-10% |
| Other fees and notes | Fast transfers available | Additional fees for USD accounts |
International Money Orders
An international money order is a seasoned method of transferring money between the countries. The sender purchases a certificate and mail it to their beneficiary, who in turn cashes it in delegated locations in their home country. Because it involves cross-border postage, waiting times are usually longer than digital transfers, and yield additional mailing costs.
Canada Post is the most popular choice for initiating money orders, but they don’t deliver to the Philippines. Senders are limited to providers like MoneyGram or Western Union, or some of the local banks, including Bank of Montreal (BMO), CIBC, Royal Bank of Canada (RBC).
How to send money from the USA to Canada
How to send money from Canada to USA
Credit Card
Most money transfer providers, including Wise and WorldRemit accept credit cards as a payment method for senders to fund their transfers to the Philippines. While its convenient, secure, and usually the quickest form of payment, credit cards yield additional foreign transaction and processing fees. Almost every provider accepting credit cards accept Visa and MasterCard, while others like AMEX and other card owners might need to inquire beforehand.
Debit Card
Payments from Interac, Visa or Mastercard debit cards are also one of the quickest form of transfer, and while they are more expensive than a bank account transfer, they are usually cheaper than credit card payments. The majority of money transfer providers, including Western Union and Xe Money Transfers, accept the popular issuers.
Airtime Top Up
It’s possible to purchase airtime and add to a beneficiary’s phone plan in the Philippines from Canada, by using services like WorldRemit or Xoom. Airtime top-ups are usually instantaneous, and only requires the recipient’s phone number. Senders can pay by choosing one of the suitable methods.
Cash
Senders in Canada can pay for their transfers via cash using providers with physical locations, such as MoneyGram or Western Union. Cash payments are usually one of the quickest methods of payment as the money is directly deposited in person, and come with an additional handling fee of around CAD3-7. In the store, senders can specify how their beneficiaries in the Philippines will receive the money.
Cash Pickup
Some services, most notably Western Union, WorldRemit, and Ria Money Transfer, offer cash pickup or cash collection services in the Philippines. Much like cash payments, cash deliveries are also fairly quick as depending on the amount and local availability, funds can be ready for collection within minutes of depositing. While exchange rate markups are typically standard for all services of a provider, cash deliveries incur varying fees.
Digital Wallet
Major mobile wallets in the Philippines, such as GCash, Grabpay, or PayMaya work together with money transfer providers MoneyGram, Wise, and WorldRemit, allowing senders to deposit their transfers directly to their beneficiaries' digital wallet. Although it comes with lower limits than other methods, money sent to a digital wallet only takes seconds to arrive and is cost-effective.
PayPal
PayPal is fully available in the Philippines. Senders should also have a PayPal account; they can either use their PayPal balance and pay a CAD4.99 flat fee, or use their linked card to fund their transfer, in which case there’s an additional 2.49% + PHP15 fees in addition to the fixed fee. For currency conversions, PayPal Canada adds 4% on top of the inter-bank rate and convert at their own rate. Senders can simply enter their beneficiary’s PayPal handle or email address, and complete their transfer.
While PayPal is an attractive choice due to its quick pace and easy-to-use application, its hardly the most cost-effective method in comparison.
What Details Do You Need to Send Money from Canada?
Valid ID. To confirm your identity, it’s necessary to provide a valid ID issued by the Canadian government.
Preferred payment method. You need to secure enough funds in the chosen card or bank account.
Proof of money origin. You can use any legal document, such as a wage statement, property sale contract, etc.
What Details Do You Need to Receive Money in the Philippines?
Valid ID. The document should be issued by the Philippine government and shouldn’t be passed the expiration date.
Transaction reference numbers. The recipient should get the TRN from the sender and provide it when collecting the funds.
Sender’s info. Some providers require details about senders or other info about the transaction.
Best Money Transfer Services to Send Money from Canada to the Philippines
| Name | Score | Visit | Security | Support | Mobile | Launch Date | Disclaimer | |
|---|---|---|---|---|---|---|---|---|
 | 9.2 | Visitwise.com | 2FA, Biometrics | Phone | Android, iOS, Web App | 2010 | ||
 | 8.6 | Visitxe.com | 2FA, Biometrics | Email, Live Chat, Phone | Android, iOS, Web App | 1993 | ||
 | 8.1 | Visitinstarem.com | Biometrics, PIN | Email, Live Chat | Android, iOS, Web App | 2014 | ||
 | 4OFX | 7.0 | Visit | 2FA, Biometrics, PIN | Email, Phone | Android, iOS | 1998 | |
 | 7.7 | Visitremitly.com | PIN, Biometrics | Email, Live Chat, Phone | Android, iOS, Web App | 2011 | ||
 | 7.2 | Visitpaypal.com | 2FA, Biometrics, PIN | SMS, Phone, Live Chat, Email | Android, iOS, Web App | 2000 |
Instarem – Cheapest way to send money from Canada to the Philippines
Western Union – Fastest way to send money from Canada to the Philippines
Remitly – Easiest way to send money from Canada to the Philippines
PayPal – Best mobile app to send money from Canada to the Philippines
WorldRemit – Best for same-day bank transfers to the recipient's bank account
Remitly – Easiest Way to Send Money from Canada to the Philippines
From both the sender’s and recipient’s perspectives, Remitly is the easiest way to send money from Canada to the Philippines. Clients will appreciate favorable rates and a special offer for the first transfer.
Another benefit includes fixed fees offered by Remitly. Regardless of the amount sent, the platform charges CAD2.99 for regular and CAD4.99 for express transactions. The latter is faster and makes money available in minutes or up to 24 hours.
Delivery methods include cash collections, bank account deposits, home delivery, and mobile top-ups. Remitly works with financial institutions like BPI and BDO Unibank.
Remitly allows sending up to CAD999 daily for basic members. You can increase these limits to CAD9,999 with additional verification.
Western Union – Fastest Way to Send Money from Canada to the Philippines
With over 21,000 locations in the Philippines and bank delivery options, Western Union secures easy cash pickup. The MTP is famous for its speed, making it the fastest way to send money from Canada to the Philippines.
You can use debit and credit cards and bank transfers to deposit funds. Western Union even supports cash in-store deposits, but the exchange rate margin is bigger.
While there are no fees for the first transfer, WU isn’t the cheapest option to send money to the Philippines.
What it lacks in affordability, it makes up with speed and security. Western Union applies the latest security layers to the website and even has a fraud awareness hotline available 24/7.
Instarem – Cheapest Way to Send Money from Canada to the Philippines
Instarem is an excellent option for senders from Canada. It comes without any transaction fees for the Philippines as the destination.
You can use bank and wire transfers, but also debit and credit cards as deposit options. The Philippines are among the rare destinations where a cash pickup is also an option for cash deliveries, apart from bank account transfers.
Instarem is highly dedicated to cybersecurity. It runs from AWS Cloud and uses modern firewalls and other technologies to prevent breaches. The platform complies with ISO and GDPR standards, which makes it even more trustworthy.
For frequent senders, instarem has a rewards program. You can activate various benefits and save in the process if you plan on using the cheapest way to send money from Canada to the Philippines frequently.
What Is The Fastest Way To Send Money From Canada To the Philippines?
Some platforms, such as Ria, Wise, or Western Union, support instant transfers. Depending on the payment method, the provider might finalize your transfer in seconds. Bank transfers and other alternatives might take longer. However, reputable services like WorldRemit aim to complete 90% of all transfers on the same day.
What’s The Cheapest Way To Send Money From Canada To the Philippines?
Most providers apply transaction fees. For some methods, XE and some other MTPs don’t impose charges.
Some platforms, such as Western Union and Ria, don’t have any charges for the first transfer as a welcome offer. The actual transaction fees go from CAD2.99 to up to 5% of the entire sum sent.
Best Apps for Sending Money from Canada to the Philippines?
Mobile apps are free and available for iOS and Android. You can use the same credentials to access the provider. Here are the best apps to send money from Canada to the Philippines:
PayPal. You can send the money instantly, but the fees are high, and exchange rates are unfavorable.
Wise. It’s another option to send money to the Philippines fast, but it comes with high fees.
Ria Money Transfer. The intuitive makes it easy to send money internationally while keeping the charges low.
What To Consider When Sending Money to the Philippines from Canada?
Cash collection and bank account transfers are two favorite delivery options, but you should discuss with the recipient to see which option fits best. Apart from that, here are the factors to consider when moving funds from Canada to the Philippines!
Do I Have to Pay Tax on Money Transfers from Canada to the Philippines?
The Philippines implemented a category called OFW, meaning Overseas Filipino Workers. As the country has many citizens working abroad, it’s necessary for them to register to become OFW. That ensures they don’t pay taxes when sending money to the Philippines. As for the receivers, there are no applicable taxes for them in the country.
CAD to PHP Exchange Rate
Another way how money transfer platforms profit is by offering an exchange rate lower than the mid-market rate. They earn from the margin, so you should compare the available offers and pick the one that best fits you.
Philippine Peso is the local currency, but you can also send USD to this country. If you choose this option, consider the CAD to USD rates and pick the best ones.
What Is the Best Way to Make Business Transfers to the Philippines from the USA?
While it’s possible to use interbank transfers, it’s more affordable to go with international money transaction platforms. But pay attention because not all providers support business transfers. It’s necessary to register another account as a business entity. Please note that taxes and other regulations are different, so it’s best to consult an expert.
What Is the Best Way to Make Large Transfers to the Philippines from Canada?
Remitly sets a daily limit of CAD999, which is quite modest. Western Union allows transferring up to CAD7,500 per transaction. But if you have a truly large transfer, it’s best to go with TorFX. This platform has 0% fees and supports transactions over USD250,000. However, you need to consult the staff before going through with the transfer.
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