Best Way To Transfer Money To Philippines

Discover the best way to transfer money to Philippines and eliminate expensive fees for sending Philippine Pesos to Philippines from any country globally.

When you send a money transfer to Philippines you will be sending Philippine Pesos. Philippines is located in SouthEast Asia and it's their official currency.

Nobody likes crazy fees. Why should you? Finally, you can get free commission on transfers from a specialist currency service that is secure and trusted.

This is the best and secure way to make a money transfer with free commission :

Torfx are FCA registered and have several years experience as a specialist currency service operating in SouthEast Asia. If you want to send a money transfer to Philippines this is the best way to do it.

Facts About Philippines

The official central bank is Bangko Sentral ng Pilipinas and sets monetary policies, with help from the Kongreso. Philippines exports over fifty eight million Dollars in goods, which accounts for twenty eight percent of GDP (Gross Domestic Product).

The population of Philippines is over one hundred and three million, which is 1.4% of the worlds population.

Transfer Money to Philippines - General Guidelines

Transferring money to the Philippines from the UK is a transaction that needs to factor in multiple considerations. The main requirement to ensure a fast, secure, and economical transfer is understanding the specific aspects of both the Philippines’ regulatory environment and economic factors.

For starters, from the legal viewpoint, it is crucial to know whether your transfer service provider is authorised and regulated by the UK’s Financial Conduct Authority.

Similarly, Filipino regulation is necessary to understand the Philippines’ recipient requirements. The Bangko Sentral ng Pilipinas briefs general anti-money laundering protection measures as a regulation to secure the legitimacy of the money sent. These measures require that detailed information for transactions above a certain size is obtained, which usually include data regarding the source of the funds to be transferred as well as the identities of both the sender and the recipient. As for general payments, it is also necessary to be aware of the PSP in the payments industry requirements to enter the Market.

Economic considerations surrounding a payment-to-be mainly concern the exchange rate between British Pounds and Filipino Pesos. These change with general and specific factors, it can vary according to economic indicators, market sentiment, and political events. The means to act upon this knowledge consist of closely observing and planning the rate at which the conversion of British pounds to Filipino pesos is most beneficial. This can be facilitated by the transfer service provider that has tools such as rate alerts and the option to lock in a rate.

Furthermore, it is crucial to understand how commission is set with the transfer to Philippines. When transferring money between pounds and pesos, the cost is mostly hidden inside the exchange rate. Therefore, when transferring a set amount, the profit is approximately equal to the exchange rate difference. Some service providers charge a fixed rate, while others may charge a certain share or be completely commission free.

Understanding and comparing the general characteristics of both the Philippines’ and the UK’s regulatory scene and the exchange rate and fees applied by the given service are necessary when deciding how to best transfer money to the Philippines.

Our Money Transfer Guides

• Transfer Money to USA
• Transfer Money to Brazil
• Transfer Money to Australia
• Transfer Money to Germany
• Transfer to New Zealand
• Transfer Money to Philippines
• Transfer Money to Italy
• Transfer Money to Spain
• Transfer Money to France