4 Best Ways To Send Money From Canada To The Philippines (2024)

Need to transfer money? Maybe you’re feeling a bit overwhelmed with all the options?

No worries. I’m going to help you out and give you the top four ways to send money to the Philippines.

I look at exchange rates, added fees, and even extra perks to narrow the list down to these four. If you’re looking for a solid option, check out these providers.

More Filipinos Moving To Canada

Finding affordable ways to send money back home to the Philippines is necessary. Over the years, the Filipino population in Canada has grown significantly. Today, it accounts for more than 2.3% of the total population.

There is a large community of Filipinos in Winnipeg, the original emigration spot. But through the years, more people settled around other big cities, especially Toronto.

Many still keep in contact with their families overseas and regularly send money back to them.

Can you e-Transfer Money From Canada To The Philippines?

Can you e-Transfer Money From Canada To The Philippines?

Yes! Many money transfer services allow payment from Canada to the Philippines. The amount you pay in fees will depend on the service you choose, as well as the speed of the transfer.

To find out the top money transferring services, keep reading.

Top 4 Ways to Send Money To Canada From The Philippines

Top 4 Ways to Send Money To Canada From The Philippines

With so many options to choose from, it can be confusing to decide which one can provide the fastest service at the best prices.

I did all the research for you and came up with some solid choices.

1. Wise

Wise Logo 2

Why it’s a good choice? Wise provides a low-cost option for those looking to send money abroad. Their exchange rate isn’t marked up, and their fees are lower than many other service providers.

It’s no surprise that Wise is the top choice. They have low transfer fees and can get the recipient money quickly. For starters, you’ll always know what you’re paying with Wise.

They have a calculator on their website that breaks down the fee based on your payment method.

How much does it cost to send money from Canada to the Philippines?

Using Wise’s calculator, I inputted $1,000 to see how much the recipient would get. It came out to 41,123.74 Philippine pesos.

If you use the direct debit method, you pay only $9.88 in total fees.

The fees will vary based on your payment method. In the example above, a direct debit costs only $2.49 but using a credit card (the most expensive form of payment) increases the charge to $23.34.

One of the biggest benefits to Wise is that it doesn’t charge an exchange rate markup.

Most providers use the mid-market rate and then mark it up. It’s an easy way to add to their profits. But Wise doesn’t inflate the mid-market rate making it an affordable option.

While Wise is generally one of the more affordable options, there are some downsides to it.

To start, your recipient must have a bank account to receive any money. While other providers allow cash pick-up locations, Wise is not one of them.

In addition, delivery time may take a bit longer than other services. Because Wise requires bank accounts, that can delay delivery.

But overall, Wise is an economical option with a payment option to fit each individual.

2. XE Money Transfer

Xe Money Transfer

Why it’s a good choice: XE provides quick delivery and lower fees as long as you’re sending larger amounts. They don’t charge fixed transfer fees which means more money for your recipient.

XE is an established money transfer service. They provide a safe and secure way to send money to countries throughout the world.

XE doesn’t charge a transfer fee based on your payment method. Instead, they will mark up the exchange rate to get their cut.

XE supports large transfers and over 139 currencies. Their website also uses a calculator to estimate how much money your recipient will receive.

While the amount generated on Wise’s website is the final number, reviewers of XE say their calculator isn’t the final price and is subject to change once you continue.

With that in mind, it still gives you a decent idea of what you’ll be spending. For comparative purposes, I once again inputted $1,000 into XE’s online calculator. The only option given was to pay by bank transfer.

The end amount sent to the recipient turned out to be 41,212.80. While that’s slightly more than Wise, it is probably not the final amount.

XE doesn’t allow cash delivery. Your recipient will need a bank account, which is why this is a good service if you’re sending larger amounts. XE will charge a “send fee” for any amounts below $500.

On the plus side, XE transfers are speedy, with many receiving them instantly or within 24 hours. 

3. Panda Remit

Panda Remit

Why it’s a good choice: Low fees and solid exchange rate make this newcomer a good option.

As one of the newer players in the money transfer world, Panda Remit is coming in with low fees and a top exchange rate.

They are completely digital, which helps save costs that get passed onto the user.

Panda Remit is smaller than other money transfer services, and that helps with their costs. While smaller, they are growing, and you can now send money from 10 countries to over 40 destinations.

The company currently runs a promotion where you pay zero fees on your first transfer.

The only other fees seem to be a markup on the exchange rate. Even with the markup, it’s still lower than other providers.

You can send money using your debit card or bank transfer. Recipients will need a bank account in order to receive the money. However, Philippine residents can get their money through GCash, a virtual wallet.

From Panda Remit’s website and online calculator, if you sent $1,000, the recipient gets 41,680 Philippine pesos

4. Instarem


Why it’s a good choice: Low fees and quick turnaround. Instarem also offers reward points you can redeem on future transfers.

Instarem lets you make transfers to over 55 countries. One of the unique features of this company is that you can earn reward points every time you send money. You can then redeem these points on future transfers.

As for fees, Instarem marks up the mid-market exchange rate but doesn’t seem to charge other transfer fees.

Transfers are sent directly to the recipient’s bank account. However, users in the Philippines have another option.

There is a cash collection facility available within the country, giving the recipient even more choices for cash retrieval.

Instarem does provide a calculator on their website to give you an idea of the total transfer amount. However, like many other sites, it’s only an estimate, and other costs might be added in when you sign in to an account.

Using the same example from above, recipients will get 41,372.1 from the transfer.

It could take minutes or a few days for the transfer to arrive. The transaction speed depends on how much you send and where you are located. Most transfers are received within a few minutes but can take longer.

Final Thoughts

Best Ways To Send Money From Canada To The Philippines

With so many options, picking a money transfer service isn’t easy. Comparing fees, exchange rates, and time frames makes the process stressful and overwhelming.

While there are many decent choices, the one that I use and recommend is Wise. Wise doesn’t try to hide fees or make you sign up for an account in order to see your final cost.

Instead, they’re transparent and upfront with their pricing. They offer services to over 80 different countries and make the whole process painless.

If you’re interested, find out why they’re my top money transfer service.

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Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Wealthawesome.com. Read about how he quit his 6-figure salary career to travel the world here.

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