By Blair Pedersen

Simple ways to get the most out of your online remittance to the Philippines

Sending money back to the Philippines should be easy, fast and cost effective. You want to know that your hard earned money is going to get to the Philippines on time and with a decent exchange rate.

Banks are a blast from the past

Traditionally banks have been a one stop shop for all things money related. Since 2008 international banking regulations changed, opening the market for niche suppliers to bring new banking products to customers. A recent study showed that 94% of customers were unhappy with their bank. With numbers like these thrown around it seems that banks may not be the best choice for many tasks. Even though you’ll have convenience on your side, is using a big bank for money remittance the right choice?

The transfer fees

I don’t think the sentence ‘the bank fees are so affordable’ has been said by any living human being ever. Banks are useful for some activities, like looking after your money, but can be expensive in comparison to other services that offer complimentary products. It’s also important to understand that there are companies that are much better at some tasks than banks are; like international money transfer. A bank can charge up to $50 for an international bank transfer which is very expensive. Even when compared with the most expensive online remitters, a bank is still pricey. By that same token, the cheapest online remittances often come with a tradeoff which is usually a slower transfer speed. If you regularly remit to the Philippines, we recommend choosing a reputable online remitter that isn’t the cheapest or the most expensive.


There are many companies that compete to get customers attention with similar products to one another and online remittance is no different. That’s why trustworthiness is the key deciding factor when choosing a money transfer service. It’s important that your money arrives in the Philippines, right? The best way to know for sure your dollars will end up in a Philippines bank account is to check the online money transfer companies Trustpilot score. A Trustpilot score is an average rating out of ten of customers reviews. The more reviews a company has, the more customers they have and the higher the rating, the more trustworthy a company is. It’s very simple.

It also pays to screen the online money transfer companies facebook page. A highly engaged following is a great way to know for sure that their customer service is friendly and helpful.

Houses in the Philippines. Filipino children playing on the beach. Coconuts for sale in the Philippines

Exchange rates

It’s common knowledge that a good exchange rate is going to make every dollar count. Online money transfer businesses all offer slightly different exchange rates to one another, so if you haven’t already signed up to a service, you could use a comparison site to help choose the best rate. Rates and fees combined determine how many Philippine peso will be received so consider the amount charged for the transfer and the exchange rate that is offered by the remitter. For many people, a reliable remittance service that is trusted is much more important than the best currency exchange rate.


Transfer speeds are very similar from business to business. A reasonable expectation for an online money transfer to the Philippines is around 2-3 days. Even if you’re using a bank this transfer speed is acceptable. OrbitRemit, however, offers much faster money transfers to the Philippines. They can be as fast as 0-1 working days, depending on what bank you are transferring to.


Gone are the days of endless forms and stacks of paperwork, technology has come a long way in making sending money overseas easier than ever. These days, you can make transfers online or even through apps all at the click of a button. When comparing banks and online remittance services, it’s important to consider features like transfer tracking, account set up, access and customer verification service for safety. Then, once you’re setup, an online money transfer will be completed very quickly.

When you choose to move your money to Philippines banks, you’re going to need a reliable remitter. Always remember that transfer fees can be very different between banks and international money transfer companies. Make sure the service you choose is trustworthy, gives you a good exchange rate is fast and is easy to use.

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