February 28, 2025

EXPAT GUIDE: Tips on Receiving Money from Abroad in the Philippines

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  • EXPAT GUIDE: Tips on Receiving Money from Abroad in the Philippines
  • Having access to your funds while traveling abroad is important for a stress-free experience. Here are five reliable methods for tourists travelling to the Philippines to receive money from abroad.

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    International Money Transfer Services

    Services like Western Union and Remitly facilitate quick and secure transfers from abroad. Recipients can collect cash at designated pickup locations or have funds deposited directly into their bank accounts.

    Western Union offers real-time transfers to major Philippine banks such as Banco de Oro (BDO), Bank of the Philippine Islands (BPI), and Land Bank. For first-time BPI receivers, transfers may take up to two hours. Funds sent to Land Bank between 10 am and 1 pm Eastern Time may experience delays. Meanwhile, Remitly has multiple delivery options including cash pickup, bank deposit, mobile money, and home delivery. Users can choose the most convenient method based on their needs.

    Online Payment Platforms

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    Platforms such as PayPal enable international transfers directly to your account. Once received, funds can be withdrawn to a local bank account or used for online purchases. In the Philippines, linking your PayPal account to a GCash mobile wallet allows for hassle-free transfers. Users can freely withdraw funds up to Php 100,000 through the GCash MasterCard at over 20,000 BancNet ATMs nationwide or at more than 12,000 Globe Partner Outlets.

    Mobile Wallets

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    Mobile wallets like GCash and Maya have gained popularity for their convenience and accessibility. They allow users to receive funds without the need for a traditional bank account. Services such as Western Union enable funds to be sent directly to a recipient’s GCash account. Recipients can then use the GCash app for various transactions or withdraw cash as needed.

    Bank Wire Transfers

    Traditional bank wire transfers allow funds to be sent directly from one bank account to another. While secure, processing times may vary, and fees can apply. BDO offers remittance services where funds can be sent from abroad directly to a BDO account. Recipients can access the funds upon confirmation of the transfer.

    ATM Withdrawals using International Cards

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    International debit or credit cards can be used to withdraw local currency from ATMs.  Major banks like Metro Bank, BPI, and BDO have extensive ATM networks that accept most international cards, which give quick access to cash as needed. Ensure your card is authorized for international use and be aware of any foreign transaction fees your bank may charge.

    Note: Before traveling, it’s advisable to inform your bank of your plans to prevent any disruptions in card services. Additionally, always verify the exchange rates and fees associated with each method to choose the most cost-effective option for your needs.

               
               
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