How do you know when it’s the best time to send money to The Philippines?

20 Oct 2020 - Category: Blog /
best time philippines

 There is no one factor to determine when you transfer money to The Philippines, it really depends on what you are looking for.

Here, we aim to help you to understand your options and the different factors, like exchange rates and specific deals, that need to be factored in. By doing this, you really optimize your money transfer, making sure your loved ones get the best deal possible.

Is there a “right time” to send money to The Philippines?

In order to get the most out of your transfer, when should you send money? Value for money and the right method for your recipient are important factors to consider.

Here are some of the key things to consider when deciding if now is the right time for you to send money to The Philippines:

Type of transfer

The method of transfer that you choose will have a cost attached to it. You should find out in advance what the difference in cost will be. For example, it might cost more to make a digital bank deposit then it would to send for cash pick-up or home delivery.

Delivery Time

Similarly, it can often be cheaper to use a service with a slower delivery time, rather than making an instant transfer. It is worth considering this when planning your money transfer; if you know ahead of time, and allow extra time for your transaction, you may be able to make a saving.

Exchange Rates

Exchange rates are subject to continual change and it is worth having some idea of the factors that cause them to rise or fall. Some of the influencing factors are ( Economics Help):

  1. Confidence and speculation
  2. Rate of growth
  3. Competitiveness
  4. Relative inflation rate
  5. Interest rates

By paying attention to the rates and understanding how they impact on the money you transfer, you can send money to The Philippines at the best time for you.

Fees Like

exchange rates, transfer fees can vary between different money transfer companies, brokers and banks. Some banks offer “commission free” services, which sound like a good deal, but these often mean the banks make their money back with less favorable exchange rate. Other companies can apply fees to the recipient as well as the sender. It is worth researching this before making your decision.


Finally, always watch out for deals. The right time to send money home might be when you are able to make the most of a specific promotion.

For example, here at Small World we don’t charge a transfer fee for your first transfer, so if you have a large transfer to make — which would usually incur larger fees — it would make sense to use this deal.

Why send money to The Philippines with Small World?

Between April and September 2019 there were 2.2m Filipinos working abroad ( Philippine Statistics Authority). The total value of remittances sent home in that time was PhP 157.9bn. This makes up an important part of the country’s economy.

We do our very best to understand the needs of our customers and what they look for when they send money home. People have different priorities, depending on where they are from and where they are sending money to, and it is crucial that we know what they are.

We know that understanding when to make a transfer is a priority for many of our customers who send money to The Philippines. Therefore, we want to provide you with the information to help inform that decision.

By speaking to us, at one of the Small World branches or over the phone, we can advise you on the best time to send money home.

Popular ways to send money to The Philippines:

  1. Bank deposit
  2. Cash pick-up

Our main partners in The Philippines are BDO, BPI, Filremit, Metrobank, PNB, LANDBANK, EastWest

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