Best Remittance Centers in the Philippines

by Venus Zoleta, on category "Personal Finance"

June 16, 2018


Best Remittance Centers in the Philippines | MoneyMax.ph

What remittance center do you usually visit to send money within the Philippines or to another country? Your favorite money transfer company may be providing great service, but it doesn’t hurt to look for better options out there.

Almost 20,000 money remittance centers operate all over the Philippines, including far-flung barangays where banks and ATMs are scarce. Aside from their accessibility, these money service businesses attract many unbanked Filipinos because of their other financial services such as pawning, bills payment, foreign exchange, and e-loading.

How do you know if you’re doing business with the best remittance center? Its money transfer service should be affordable, quick, convenient, reliable, and secure. It doesn’t charge recipients a fee for claiming remittance. Lastly, it’s regulated by the Bangko Sentral Pilipinas, giving peace of mind that the money you send will reach your loved ones safely.

7 Best Remittance Centers in the Philippines

Here’s a closer look at seven of the best remittance service providers in the Philippines. All of them offer domestic money transfers, while only Cebuana Lhuillier and Western Union allow sending money from the Philippines to various countries.

1. Palawan Express Pera Padala

Remittance Centers in the Philippines - Palawan Pawnshop | MoneyMax.ph

Photo from Palawan Pawnshop – Palawan Express Pera Padala Facebook page

Basic Facts about Palawan Express:

Palawan Express Rates: PHP 2 – PHP 345 (for a complete list of Palawan Express Padala Rates, click here.)

  • Transaction Speed: Remittances can be claimed just a few seconds after sending from a Palawan Express branch.
  • Operating Hours: Palawan Express branches are open seven days a week (including holidays) from 8 am to 5:30 pm. Some partner agents have shorter or longer business hours.
  • Number of Branches in the Philippines: Over 2,000 branches and Pera Padala agents

Notable Features of Palawan Express Pera Padala:

  • Money Savings via the Suki Card: A loyalty rewards program that gives a 5% discount and 2% rewards points on every remittance fee, as well as rebates when claiming money
  • Instant Text Notification: Remittance senders and recipients receive a text message when remittance has been transmitted, is ready for pick-up, and has been claimed.

2. TrueMoney Money Padala

Remittance Centers in the Philippines - TrueMoney | MoneyMax.ph

Photo from TrueMoney Philippines Facebook page

Basic Facts about TrueMoney:

  • Domestic Remittance Rates: PHP 2 – PHP 345
  • Transaction Speed: Real-time
  • Operating Hours: Vary per location, with most branches open seven days a week from 9 am to 6 pm
  • Number of Branches in the Philippines: 13,500 TrueMoney centers

Notable Features of TrueMoney Padala:

  • Accessibility: TrueMoney remittance centers can be found practically everywhere—in sari-sari stores, pawnshops, internet shops, salons, bakeries, pharmacies, carinderia, travel agencies, laundry shops, water refilling stations, and more.
  • Secure Money Transfer Transactions: TrueMoney agents use point-of-sale (POS) terminals to process remittances and issue transaction receipts.
  • Text Alerts: Senders receive confirmation and unique reference code via their cell phone.

3. RD Pawnshop Cash Padala

Remittance Centers in the Philippines - RD Pawnshop | MoneyMax.ph

Photo from RD Pawnshop Inc Ph Facebook page

Basic Facts about RD Pawnshop:

  • Domestic Remittance Rates: PHP 0 – PHP 311
  • Transaction Speed: Real-time
  • Operating Hours: RD Pawnshop branches are open from Monday to Sunday, including holidays (except for Christmas, New Year, Good Friday, and Black Saturday). Business hours vary per location, with most branches operating from 7 am to 7 pm.
  • Number of Branches in the Philippines: Over 700

Notable Features of RD Pawnshop Cash Padala:

  • No remittance fees for sending PHP 100 or less
  • Discounts on remittances starting at PHP 301
  • Rebates on remittances starting at PHP 901

4. Cebuana Lhuillier Pera Padala

Remittance Centers in the Philippines - Cebuana Lhuillier | MoneyMax.ph

Photo from Cebuana Lhuillier Facebook page

Basic Facts about Cebuana Lhuillier:

  • Domestic Remittance Rates: PHP 1 – PHP 1,200
  • Overseas Remittance Rates: PHP 500 – PHP 1,200
  • Transaction Speed: Real-time
  • Operating Hours: All Cebuana branches operate from Monday to Sunday, with six branches that are open 24/7. Other branches open as early as 7 am and close as late as 9 pm.
  • Number of Branches in the Philippines: 2,300 branches and 4,000 Pera Padala agents
  • Number of Branches Worldwide: Over 80 international remittance partners

Notable Features of Cebuana Lhuillier Pera Padala:

  • Money Savings via the 24k Rewards Program: Earn one point for every PHP 40 remittance fee paid, which can be exchanged for discounts, exclusive privileges, and other special offers.
  • Faster Transactions via the Online Appointment System: Allows customers to set an appointment online before visiting a branch. No need to wait in line and fill out forms.
  • Accessibility via 24/7 branches in Makati, Imus, Olongapo, and Angeles City

5. Western Union Sulit Padala and Overseas Money Transfer

Remittance Centers in the Philippines - Western Union | MoneyMax.ph

Photo by Judgefloro via Wikimedia Commons

Basic Facts about Western Union:

  • Domestic Remittance Rates: PHP 5 – PHP 595
  • Overseas Remittance Rates: PHP 500 – PHP 1,100
  • Transaction Speed: Within minutes
  • Operating Hours: Monday to Sunday (Business hours vary per location.)
  • Number of Branches in the Philippines: Over 8,400
  • Number of Branches Worldwide: 500,000 agent locations in over 200 countries

Notable Features of Western Union Sulit Padala and Money Transfer:

  • Track a Transfer: Enables Western Union customers to check the status of their remittance online
  • Mobile Money Transfer Service: Allows sending money to a PayMaya mobile wallet at any branch
  • My WU Membership Program: Earn 10 rewards points for every remittance sent or received and 30 points for every remittance sent abroad. Accumulated points can be used to get a 10%, 25%, or 50% discount on the next money transfer fee.

6. M Lhuillier Kwarta Padala

Remittance Centers in the Philippines - M Lhuillier | MoneyMax.ph

Photo by FroyAgta via Wikimedia Commons

Basic Facts about M Lhuillier:

  • Domestic Remittance Rates: PHP 3 – PHP 350
  • Operating Hours: Most branches are open from Monday to Sunday until 10 pm, while 150 locations operate 24/7. M Lhuillier branches are closed on national holidays.
  • Number of Branches in the Philippines: Over 2,000

Notable Features of ML Kwarta Padala:

  • Accessibility via 24/7 branches located in key cities
  • Convenience via the ML Gift Card: Available in PHP 500 and PHP 1,000 values, this scratch card allows sending money anytime and anywhere in the country using a mobile phone.

7. LBC Instant Peso Padala

Remittance Centers in the Philippines - LBC | MoneyMax.ph

Photo from LBC Express Inc Facebook page

Basic Facts about LBC:

  • Domestic Remittance Rates:
    – Same-day remittance (up to PHP 5,000 only): PHP 6 – PHP 220
    – Next-day door-to-door delivery (up to PHP 5,000 only): PHP 35 – PHP 320
  • Transaction Speed: Within the day and next-day delivery options
  • Operating Hours: LBC branches are open seven days a week. Office hours vary per location, with some opening as early as 7 am and closing as late as 10 pm.
  • Number of Branches in the Philippines: 3,000 branches and partner agents

Notable Feature of LBC Instant Peso Padala:

Convenience via the Peso Pak Door-to-Door Delivery: Instead of cash pick-up, you can choose to have cash delivered to the recipient’s home or office. This is a great option for sending money to senior citizens and persons with disabilities who can’t travel to the nearest LBC branch.

Comparison Tables of Remittance Rates in the Philippines

Overseas Money Transfer Fees: Cebuana Lhuillier vs. Western Union

Cebuana Lhuillier and Western Union charge the same rate for international cash transfers of PHP 5,000 or less. Western Union Money Transfer is cheaper when sending PHP 5,001 – PHP 100,000 and PHP 250,001 – PHP 500,000. Sending PHP 100,001 – PHP 250,000 from the Philippines costs lower at Cebuana

Domestic Money Transfer Fee Comparison

TrueMoney is the cheapest remittance center in the Philippines for sending PHP 201 – PHP 5,000. For remitting PHP 100 or less and PHP 5,001 – PHP 50,000, RD Pawnshop offers the lowest money transfer rates nationwide.

Cebuana Lhuillier’s remittance services are the most affordable when sending PHP 101 – PHP 300 in South Luzon, Visayas, and Mindanao.

Here are detailed tables comparing the money transfer fees of the seven remittance centers.

Pera Padala Rates in Metro Manila and North Luzon

Pera Padala Rates in South Luzon, Visayas, and Mindanao

Final Thoughts

When choosing between remittance centers for sending money abroad or anywhere in the Philippines, consider the service fees, location or accessibility, transaction speed, convenience, security, and quality of customer service. This way, you can save money and time, whether you’re remitting cash to your loved ones or receiving payments from customers for your online business.

If you’re an overseas worker who’s looking for the best way to transfer money to your family in the Philippines, check out the MoneyMax.ph remittance guide for OFWs.
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