This week, popular money transfer provider Azimo announced that it will no longer process new person-to-person transfers after August 31. In simpler terms, Azimo has decided to shut down its global money transfer business this week. Below is a summary of ways to continue sending money to the Philippines and what to know when choosing a remittance provider.
In 2020, the world Bank reported that nearly US$35 billion had been received in the Philippines through personal transfers and so far this year, WorldRemit users worldwide have sent over US$4 billion to the Philippines.
Different ways to send money to the Philippines
There are many providers that make it easy to transfer money to the Philippines. When researching which provider best suits your needs, think about how the recipient could best use the funds and which carriers/providers they use in their day-to-day life.
Below you will find an overview of the services and partners used by WorldRemitwhich allows internet users to send money to the Philippines from dozens of countries around the world.
|Way to receive funds in the Philippines||WorldRemit Providers|
|Payment||Al Amanah Islamic Investment Bank AllBank Allied Bank Allied Savings Bank ANZ Bank Asia Trust Bank Asia United Bank Bangko Mabuhay Bangkok Bank Bak of America Bank of China Bank of Commerce Bank of Florida Bank of Makati BDO BDO Network Bank (One Network Bank) Binangonan Rural Bank BPI BPI Direct Banko BPI Family Savings Bank Camalig Bank Cantilan Bank, Inc. Cebuana Lhuillier Rural Bank China Bank China Bank Savings China Trust CIMB Bank Citi Bank Community Rural Bank of Romblon Country Builders Bank Inc. DBP (Development Bank of the Philippines) Deutsche Bank Dungganon Bank EastWest Bank EastWest Rural Bank / Komo Equicom Savings Bank First Consolidated Bank Guagua Rural Bank, Inc. HSBC HSBC Savings Bank ICBC (Industrial and Commercial Bank of China) Innovative Bank Inc. Isla Bank JP Morgan Chase Bank KEB Hana Bank Legaspi Savings Bank Malarayat Rural Bank Inc. Malayan Bank Maya Bank, Inc. Maybank Metrobank Mindanao Consolidated Cooperative Bank Mizuho Bank MUFG (Bank of Tokyo) Omnipay Partner Rural Bank PBCom Philippine Veterans Bank PhilTrust Bank Philippines Business Bank Producers Savings Bank PNB PSBank Queen City Development Bank (Queen Bank) Quezon Capital Rural Bank Rang-ay Bank, Inc. RCBC Savings Bank RCBC Robinsons Bank Rural Bank of Digos Inc Rural Bank of Guinobatan INc. Rural Bank of Porac (Pampanga), Inc. SeaBank Philippines Security Bank Shinhan Bank Standard Chartered Bank Sterling Bank of Asia Sumitomo Mitsui Banking Corp. Sun Savings Bank UCPB UCPB Savings Bank Union Bank United Overseas Bank Wealth Development Bank Yuanta Savings Bank Philippines, Inc. (Tongyang)|
|Cash withdrawal||BDO BDO Network Bank Cebuana Lhuiller LBC Metrobank M Lhuillier Palawan Pawnbroker / Palawan Express Pera Hub PSBank RD Pawnbroker SaveMore Market SM Business Services SM Hypermarket The SM Store The SM Supermarket TrueMoney Villarica Pawnshop WalterMart|
|Mobile Wallet Networks||GCash GrabPay PayMaya Shopee Pay|
|Mobile load||Cignal Dito Telecommunity Globe Globe at Home PLDT Smart Smart Bro Sun TnT|
You can find the total cost of sending money to the Philippines with a currency converter.
Most money transfer providers have this service on their site. Select the receiving method and delivery partner to check the exchange rate, transfer fees, and the total amount your recipient will receive in Philippine pesos or US dollars. Transfer fees depend on the method of receipt and do not vary with the amount.
What information do I need to send money to the Philippines?
You must register with a money transfer service to send money to the Philippines. Once registered, you will be prompted to:
- Provide basic contact information:
- Sign up with your full name, email address, mobile phone number, gender, date of birth and address.
2. Verify your information
- The service should attempt to verify your mobile number with an OTP. You may need to provide ID and a selfie image to verify your identity. Identity verification usually takes up to 4 minutes. In case of delay, the supplier will contact you immediately. This helps ensure that your identity and funds are safely managed and not used by a scammer.
3. Create a transfer
- Choose the amount you want to send, select how your recipient wants to receive the money, and finally, how you want to pay. With services like WorldRemit, senders will always see the final amount they will pay and the fees up front, as well as the exact amount the recipient will receive.
4. Provide recipient details
- We need specific details of your receiver in the Philippines based on the method of receipt. The recipient’s full name, mobile number and email address are always required to send money.
5. Pay the transfer
- You will need a bank account, debit card or credit card to pay for the money transfer to the Philippines.