Damon Mcknight
There are several ways to send money from Australia to the Philippines. Some of the most popular services are Wise, Remitly, OrbitRemit, Binance P2P, Paysend, and Ria Money Transfer. Wise, for example, allows you to send money from an Australian dollar to a Philippine peso quickly and safely. You can pay by bank transfer, card, PayID, or using money already in your Wise account. Paysend offers a similar service for a fee of 3.9 AUD, while Ria Money Transfer provides several tracking tools for your money transfer.
| Characteristics | Values |
|---|---|
| Cheapest option | -2.3% of the transferred amount |
| Most expensive option | 11.7% of the transferred amount |
| Average fees | 0.59% |
| Average bank fees | 4.6% |
| Maximum daily limit | 19,000 AUD |
| Transfer time | Within one banking day, or minutes for cash pickup |
| Transfer methods | Online, app, in person |
| Money transfer services | Western Union, XE, Wise, CurrencyFair, OFX, Remitly, ANZ, Commonwealth Bank |
| Cheapest transfer method | From a Wise balance |
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What You'll Learn
Using a money transfer service like Wise or Ria
Wise is a financial technology company that makes it easier, quicker, and cheaper to send and receive money from overseas. To send money from Australia to the Philippines using Wise, you can follow these steps:
- Sign up for a free Wise account: Signing up for a Wise account is free and can be done in a few minutes. You will need to provide some basic information, such as your name, email address, and phone number.
- Enter the amount you want to send: On the Wise website or app, enter the amount you want to send in Australian dollars. Wise will show you the fees and the exact amount that will be received in Philippine pesos.
- Choose your payment method: You can pay for your transfer using a bank transfer, card, PayID, or directly from your Wise account if you have a balance.
- Add recipient details: Provide the recipient's name and bank account details in the Philippines. The recipient does not need to have a Wise account to receive the money.
- Confirm and send: Review the transfer details and confirm the transaction. Wise will convert the currency and send the money to the recipient, which usually takes just a few seconds.
It's worth noting that Wise also offers a multi-currency account, which can be useful if you regularly send or receive money in different currencies. This allows you to hold and exchange multiple currencies in your account and send money abroad with lower fees.
On the other hand, Ria is another money transfer service that allows you to send money to the Philippines. Here's how you can use Ria to transfer money:
- Create a Ria account: To send money through Ria, you will need to create an account. This typically requires having an email address and a phone number.
- Choose your payment method: Decide how you want to fund the transfer, such as by bank transfer or card.
- Enter recipient details: Provide the recipient's name and bank account details in the Philippines.
- Confirm and send: Review the transfer details, including the amount and any fees, then confirm the transaction. You will usually need to provide your recipient with a PIN for cash pickups.
Both Wise and Ria offer convenient and efficient ways to send money from Australia to the Philippines, with different features and benefits to consider. Wise tends to be known for its low fees and fast transfers, while Ria has a wide network of agents for cash pickups.
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Sending money from AUD to PHP
When sending money from AUD to PHP, there are several options available to you.
Wise
Wise is an online money transfer service that allows you to transfer money from AUD to PHP quickly and safely. You can pay in Australian dollars by bank transfer, card, PayID, or using money already in your Wise account. The recipient can receive the money in their bank account or digital wallet, and they don't need a Wise account to receive the money. Wise also allows you to lock in an exchange rate for up to 48 hours.
Ria Money Transfer
Ria Money Transfer offers competitive exchange rates and several ways to track your money transfer to the Philippines. You can use their website or mobile app to send money directly to your recipient's bank account. You will need the recipient's full legal name and bank account number or IBAN.
Paysend
Paysend is an online money transfer service that allows you to send money from Australia to the Philippines for a fee of 3.9 AUD. You can transfer money to any Mastercard, regular bank account, digital wallet, or for cash pickup in the Philippines. The money is usually transferred on the same day.
It's important to compare the fees, exchange rates, and transfer speeds offered by each service to determine the best option for your specific needs.
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Tracking your money transfer
Use a Tracking Number
Some services, like Western Union, provide a tracking number (MTCN) in a confirmation email after you schedule the transfer. This allows both you and your recipient to track the status of the transfer.
Track in Real-Time
Services like Western Union and WorldRemit allow you to track your money transfer in real-time. This means you can see the progress of your transfer from the moment it is sent until it reaches your recipient. This can be done online or via a mobile app, providing convenience and peace of mind.
Set Up an Account
Using a service like Ria Money Transfer, you can add a recipient to your account and decide on the amount and payout method. After the first transfer, the recipient's information is saved, making future transfers easier to track. You can use the "Track a Transfer" feature on their website or app, which requires a PIN or order number found in your account or confirmation email.
Choose a Reliable Service
Opt for a service that has a strong reputation for secure and timely transfers. For example, WorldRemit offers reliable and convenient bank transfer services. They provide fast, secure, and low-cost transfers directly to your recipient's bank account in the Philippines.
Be Mindful of Timing
The speed of the transfer can depend on various factors, including the payment and payout methods, the amount being transferred, and regulatory requirements. Typically, transfers to mobile wallets or for cash pickup are faster, while bank transfers can take several business days. Be mindful of these factors when tracking your transfer, especially if there are potential delays.
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Payment methods for sending money
When sending money from Australia to the Philippines, there are several payment methods available. The most suitable method depends on the sender's and recipient's preferences, the desired speed of the transfer, and the associated costs. Here are some common payment methods:
- Online Money Transfer Services: Several companies, such as Wise, Ria Money Transfer, and Paysend, offer online platforms and mobile apps that facilitate international money transfers. These services allow users to send money from Australia to the Philippines conveniently and securely. Wise, for example, enables users to send money from their Australian bank account, card, PayID, or Wise account to any bank account in the Philippines, as well as to digital wallets like GCash. Ria Money Transfer offers similar services and provides multiple ways to track money transfers in real time. Paysend also supports transfers to bank accounts, digital wallets, and cash pickup locations in the Philippines.
- Bank Transfers: Traditional bank transfers are another option for sending money between the two countries. This method typically involves transferring funds from your Australian bank account to the recipient's bank account in the Philippines. While bank transfers can be a cost-effective option, they may take longer compared to some online transfer services.
- Mobile Wallets: With the increasing popularity of digital wallets, sending money to mobile wallet accounts in the Philippines is also an option. Wise, for instance, supports transfers to GCash and other digital wallets, while Ria Money Transfer offers transfers to GCash, PayMaya, GrabPay, Coins.ph, ShopeePay, and PalawanPay.
- Cash Pickup: Some services, including Paysend and Ria Money Transfer, provide the option of sending money to cash pickup locations in the Philippines. This method can be convenient for recipients who prefer to receive cash directly.
It is always recommended to compare fees, exchange rates, transfer speeds, and security measures offered by different payment methods before choosing the most suitable option for your specific needs.
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The cheapest and fastest way to send money
There are several ways to send money from Australia to the Philippines, with varying levels of speed and cost. Here are some of the cheapest and fastest methods:
Wise
Formerly known as TransferWise, Wise is a popular option for sending money between the two countries. It offers low fees, smooth transactions, and the ability to send money directly to GCash and other digital wallets. You can pay using a bank transfer, card, PayID, or a Wise account balance, with the latter being the cheapest and fastest option. Wise also allows you to lock in an exchange rate for up to 48 hours.
Western Union
Western Union offers several convenient ways to send money to the Philippines, including online, via their app, or in person at over 3,500 agent locations in Australia. You can pay using your bank account, credit/debit card, or cash in-store. The recipient can receive the money in cash, directly to their bank account, or via a mobile wallet. Western Union also provides encryption and fraud prevention measures to protect your transfers.
Osko by BPAY
Osko by BPAY is an online bank payment method available in Australia. When sending money in AUD, you can select Osko by BPAY as your payment method. Bank transfers are usually the cheapest option when funding your international money transfer.
Other Options
Other options mentioned in sources include Remitly, Sendwave (especially with a G-Cash account), Xoom from PayPal, and World Remit. However, Remitly has been described as costly by some users.
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Frequently asked questions
Some of the best money transfer services from Australia to the Philippines are Wise, Ria Money Transfer, and Paysend.
Transferring money from a Wise balance is the cheapest and fastest way to send money from Australia to the Philippines. Bank transfers are also a cheap option, but they can be slower.
To send money from Australia to the Philippines, you will need the recipient's full legal name, their bank account number or IBAN, and the name of their bank. You can use a service like Wise, Ria Money Transfer, or Paysend to initiate the transfer.
