You can sign up online or over the phone for either a personal or business account with Moneycorp.
Set up a payment to Philippines
After you’ve added a new recipient or chosen from a list of your existing recipients, you’ll need to specify how much you’d like to transfer to the Philippines.
Common questions about a money transfer to the Philippines
How long will a payment to Philippines take?
Most payments that are made to the Philippines via Moneycorp arrive within 1-2 working days, and so you can rest assured that your money will reach its destination even when time is at a premium. Regardless of how much money you wish to send, we’ll ensure that your payment arrives on time; large money transfers do not take longer to arrive than smaller transfers. You can track your payments and view your full transaction history online.
How can I estimate the amount that it will cost me to send money to the Philippines?
We offer fee-free online international transfers to the Philippines, which means that you’ll benefit from our competitive exchange rates without having to worry about any additional costs. Once you’ve opened a Moneycorp account, you can obtain exchange rates from your account manager. Once we have provided you with an online quote, you can book your order at the specified exchange rate; exchange rates change each second, and so your order will only be locked in after you have secured your transaction.
You will only be required to pay online fees if you decide to use a Regular Payment Plan to automate your recurring payments. Our over-the-phone transfers to the Philippines cost a flat rate of £15, which makes Moneycorp an economical option for large money transfers. Certain of our FX tools, such as our forward contracts, require that you pay a nominal fee.
What information do I need to transfer money to banks in the Philippines?
You’ll need to provide the following information to send money to a Filipino bank account, in addition to documentation that supports your reason for making the payment.
- The account holder’s full name
- The recipient’s account number
- The recipient’s BIC/SWIFT code
- If you are making a personal payment: Photographic ID of the recipient and a copy of the recipient’s bank statement that is less than three months old, with proof of address
- If you are paying money into your own account in the Philippines: A bank statement from the recipient account, less than three months old
- If you are making a business payment: An Invoice with the supplier’s name and address
These final three items can be sent in PDF form or as clear scans to email@example.com if you are making a personal payment, or to firstname.lastname@example.org if you are making a business payment. If you have any questions regarding your payment to Philippines, call our team on 0207 589 3000 (personal) or 0207 823 7878 (business).
Read our in-depth guide for further information regarding BIC/SWIFT codes.
How much money can I send to the Philippines?
There is an upper limit of £100,000 on personal transfers that can be made through our online platform to the Philippines. Transfers that are made over the phone, on the other hand, have no upper limit, and so you will need to contact your Moneycorp account manager by telephone in order to make larger payments from the UK to the Philippines.
Can I send money to all banks in the Philippines through my Moneycorp account?
We can help you make payments to most of the major banks in the Philippines, including but not limited to:
- BDO Unibank
- Land Bank
- HSBC Philippines
- Deutsche Bank Philippines
It does not necessarily mean that we cannot help you make your payment if your bank is not included on this list. Speak to one of our specialists today to find out how we can help.
Is it safe to make online money transfers to the Philippines?
Using Moneycorp is one of the safest ways to send money to the Philippines. As an Authorised Payment Institution, we are regulated by the FCA for our provision of payment services. It’s safe, therefore, to make send money to the Philippines with Moneycorp’s services; we’ll ensure that your payment details are safe and secure.
What is the current GBP to PHP exchange rate?
As of February 2023, Philippines has remained on the FATF grey list after identifying AML/CFT deficiencies. Philippines and FATF have agreed to work closely together in resolving and monitoring the identified deficiencies. Given the risk measures please ensure you have followed all laws, guides and reasonable steps prior remittance of funds.