Question 1

What is the best way to send money from USA to Philippines?

Accepted Answer

Today, Instarem delivers the highest amount — ₱60,745 for every $1,000 sent, at a rate of 60.7447 PHP per USD. Compare every provider's true cost (rate plus fee) above before deciding.

Question 2

What is today's USD to PHP exchange rate?

Accepted Answer

The mid-market rate right now is approximately 1 USD = 61.3205 PHP. This is the rate banks use among themselves — providers add a margin on top, which is why the rate you actually get is lower.

Question 3

How much does it cost to send $1,000 to Philippines?

Accepted Answer

Costs vary significantly. The best provider (Instarem) gives you ₱60,745 after fees. The worst (OFX) only gives you ₱58,519. That's a difference of ₱2,226 on a single $1,000 transfer.

Question 4

How long do transfers take?

Accepted Answer

Speed varies by provider and payment method. Instarem typically completes in same day. Cash pickup networks like MoneyGram, Western Union and Xoom are usually fastest (minutes). Bank wires and ACH transfers can take 1–3 business days.

Question 5

Are there taxes on sending money to Philippines?

Accepted Answer

In most cases, sending money internationally is not taxable for the sender. However, large transfers (typically over $10,000 USD or equivalent) may require reporting to financial authorities such as FinCEN in the US or HMRC in the UK. The recipient country may have its own rules. Always check with a tax professional for your situation.

Provider	Fee	Rate	Recipient gets	Speed
1 InstaremBest value	Free	60.7447	₱60,745	Same day	Send
2 Moneygram	USD 1.99	60.7952	₱60,674	Minutes	Send
3 Wise	USD 12.66	61.3205	₱60,544	Within hours	Send
4 Remitly	Free	59.5400	₱59,540	Minutes	Send
5 Xoom	Free	59.4645	₱59,465	Minutes	Send
6 Bank of America	Free	59.3824	₱59,382	1–3 days	Send
7 Wells Fargo	Free	59.3606	₱59,361	1–3 days	Send
8 OFX	USD 5.00	58.8131	₱58,519	1–2 days	Send

Send Money from USA to Philippines — Best USD/PHP Rates

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