Top Remittance Centers and Money Transfer Services in the Philippines

Your favorite money transfer company may be providing great service, but it doesn’t hurt to look for better options out there. Whether you need to pay bills, transfer money for trading and investment purposes, or send money overseas, a handful of remittance centers or money transfer services can process transactions faster than traditional banks. 

Here’s a comprehensive guide you can refer to for when you need to know more about remittance centers and money transfer services―from top service providers to picking the best remittance center in the Philippines according to your needs.

What are Remittance Centers?

Remittance centers are financial service providers that allow people to send or receive money to anyone within the country or abroad. With multiple physical locations, these companies offer a traditional way to transfer money for Filipinos without a bank account, PayPal account, and/or internet connection.

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.

Customers can just visit the nearest remittance center and send cash to their loved ones, make payments, or claim remittances from abroad. Typically, money gets transferred and is ready for pick-up within minutes or the same day.

A remittance center in the Philippines usually serves OFWs who send money back home, as well as their families who receive such remittances. It also enables money transfer online and home-based businesses to receive payments from their customers who have no credit card or savings account.

What is a Money Transfer Service?

Money transfer is simply the process of transferring your money from one place to another using a physical or electronic avenue. A money transfer service is any company that provides fund transfer via money order, electronic fund transfer, or wire transfer.

You can transfer money via money order, where you make payments using a document such as a postal check. Another option is electronic fund transfer, where you transfer money from your bank account to another. Lastly, wire transfer is done if you want to electronically transfer money from one bank to another network.

Remittance and money transfer are quite similar as they serve the same purpose. However, remittance specifically refers to the money sent from another country, while money transfer is the cashless process of payments.

What are the Benefits of Using Remittance and Money Transfer Services? 

There are a number of reasons why you might want to use remittance or money transfer services. Perhaps you need to send money to family or friends who live abroad or maybe you need to make a payment for goods or services. Whatever the reason, using a remittance or money transfer service can be a convenient and hassle-free way to send and receive money.

You can send money from anywhere in the world, and your recipient can pick up the funds at a nearby location. This is much easier than sending a traditional bank transfer, which can take days or even weeks to process.

Remitting or transferring money is also typically very fast. Your recipient can usually pick up the funds within minutes or hours, depending on the service you use. This is important when you need to send emergency funds or when you just want your loved ones to have the money as soon as possible.

Moreover, money transfer services usually have low fees. This is especially important when you’re sending large sums of money. Some services even offer special promotions with low or no fees, so it’s worth shopping around to find the best deal.

Lastly, many money remittance and transfer services offer additional features that can be useful to customers. For example, some let you schedule transfers in advance, so you don’t have to worry about forgetting to send the money on time. Others let you set up recurring transfers, so the recipients receive the money on time. 

Top Remittance Centers in the Philippines

Here’s a closer look at some of the best remittance service providers and money transfer services in the Philippines. Most of them offer domestic money transfers, while a few ones provide international remittance and fund transfer services.

1. Cebuana Lhuillier Pera Padala

Cebuana Lhuillier Pera Padala Rates

• Domestic remittance rates: ₱1 - ₱1,200
• Overseas remittance rates: ₱500 - ₱1,200

Basic Facts about Cebuana Lhuillier:

• Transfer speed: Real-time
• Cebuana Lhuillier operating hours: All Cebuana Lhuillier branches operate from Monday to Sunday, with six branches that are open 24 hours a day, seven days a week. Other branches open as early as 7 a.m. and close as late as 9 p.m.
• Number of branches in the Philippines: Nearly 2,500 branches and 4,000 Pera Padala agents
• Number of branches worldwide: Over 80 international remittance partners

Cebuana Lhuillier Pera Padala Notable Features:

• Money Savings via the 24k Rewards Program: Earn one point for every ₱30 remittance fee paid with 24K virtual card, and one point for ₱25 remittance fee paid with the 24K Gold virtual card, which can be exchanged for discounts, exclusive privileges, and other special offers.^[1]
• 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

2. GCash Padala

GCash Remit Rates: ₱5 to 1.5% of the amount (max ₱5,000)

Basic Facts about GCash Remit:

• Type: Online and traditional
• Transfer speed: Instant
• GCash operating hours: 24/7
• Number of branches in the Philippines: Over a thousand outlets nationwide

GCash Remit Notable Features:

• Zero balance. There's no maintaining balance required.^[2]

• Globe and non-Globe users can send money. 
• Cash-in via UnionBank and BPI is free of charge.
• Remittances from your PayPal and Payoneer can be cashed in directly to GCash.

Read more: How to Use GCash: A Handy Guide for New GCash App Users This 2022

3. LBC Instant Peso Padala

LBC Instant Peso Padala Rates

• Same-day remittance (up to ₱5,000 only): ₱2 – ₱125^[3]
• Next-day door-to-door delivery (up to ₱5,000 only): ₱35 – ₱260

Basic Facts about LBC:

• Transfer speed: Within the day and next-day delivery options
• LBC operating hours: LBC branches are open seven days a week. Office hours vary per location, with some opening as early as 7 a.m. and closing as late as 10 p.m.
• Number of branches: Over 6,400 branches in the Philippines and partner agents in more than 30 countries

LBC Instant Peso Padala Notable Features:

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 may have difficulty traveling to the nearest LBC branch.

4. M Lhuillier Kwarta Padala

ML Kwarta Padala Rates: ₱3 –  ₱350

Basic Facts about M Lhuillier:

• M Lhuillier operating hours: Most branches are open from Monday to Sunday until 10 p.m. Is there an M Lhuillier near me open today, you ask? There are about 150 locations that operate 24 hours a day, seven days a week. M Lhuillier branches are closed on national holidays.
• Number of branches in the Philippines: Over 3,000 ML Kwarta Padala branches
• Number of branches worldwide: Almost 100 overseas partner agents

ML Kwarta Padala Notable Features:

• Accessibility via 24/7 branches located in key cities
• Convenience via the ML Gift Card: Available in ₱500 and ₱1,000 values, this scratch card allows sending money anytime and anywhere in the country using a mobile phone^[4].

5. MoneyGram

MoneyGram Money Transfer Rates: Depends on transaction amount

Basic Facts about MoneyGram:

• Transfer speed: Within 24 hours
• MoneyGram operating hours: Office hours of partner agents vary per location, with some opening as early as 7 a.m. and closing as late as 10 p.m.
• Number of branches: Around 350,000 agent locations in over 200 countries

MoneyGram Notable Features:

• Track a Transfer: Conveniently check the status of your money transfer online. Simply enter your transaction reference number and last name on the MoneyGram website.
• Send to a Bank Account: Allows sending remittances directly to the recipient's bank account^[5].

6. Palawan Express Pera Padala

Palawan Charges for Pera Padala: ₱2 – ₱345

Basic Facts about Palawan Express:

• Transfer speed: Remittances can be claimed just a few seconds after sending from a Palawan Express branch.
• Palawan Express operating hours: Palawan Express branches are open seven days a week (including holidays) from 8 a.m. to 5:30 p.m. Some partner agents have shorter or longer business hours.
• Number of branches in the Philippines: Over 2,900 branches and Pera Padala agents

Palawan Pera Padala Notable Features:

• 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^[6].
• 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.

7. Payoneer

Payoneer Rates:  1% to 3% of the transaction amount

Basic Facts about Payoneer:

• Type: Online
• Transfer speed:  One to five days
• Payoneer operating hours: 24/7

Payoneer Notable Features:

• Unlimited transfer. You can transfer any amount you want with Payoneer^[7].
• Accessible. Available in 150 currencies.

8. PayPal

PayPal Rates:  $0.99 to $4.99 plus 2.9% of the transaction amount

Basic Facts about PayPal:

• Type: Online
• Transfer speed: Instant or two to four days to bank account
• PayPal operating hours: 24/7

PayPal Notable Features:

• Unlimited transfer. You can transfer any amount you want with a verified PayPal account^[8].
• Available in over 200 countries
• Mobile-friendly. The PayPal app is available for both iOS and Android users.

9. RD Pawnshop Cash Padala

RD Cash Padala Rates: ₱0 – ₱317

Basic Facts about RD Pawnshop:

• Transfer speed: Real-time
• RD Pawnshop 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 a.m. to 7 p.m.
• Number of branches in the Philippines: Over 1,600 branches and 400 partners and agents

RD Pawnshop Cash Padala Notable Features:

• Free money transfer service for sending ₱100 or less
• Discounts on remittances starting at ₱301
• Rebates on remittances starting at ₱901^[9]

10. Maya Center (formerly Smart Padala)

Maya Center Rates: ₱30 to ₱1,500

Basic Facts about Maya Center:

• Transfer speed: Instant
• Maya Center operating hours: Mondays to Sundays 9 a.m. to 6 p.m.
• Number of branches in the Philippines: Over 63,000 Maya Center agents nationwide

Maya Center Notable Features:

• You can claim your Western Union remittance hassle-free.
• Cash in and out at the Maya app or at any Maya Center^[10].

11. Wise (formerly TransferWise)

Wise Rates:  0.75% fee plus $3 for funds up to $135,000

Basic Facts about Wise:

• Type: Online service
• Transfer speed:  One to two days
• Wise Operating Hours:  24/7

Wise Notable Features:

• Receive payments in nine currencies.
• You can hold or convert your money in 53 currencies.
• Works anywhere in the world and links your PayPal, Amazon, and other accounts
• Supports two-way factor authentication to protect your account

12. TrueMoney Money Padala

TrueMoney Padala Rates: ₱3 – ₱330

Basic Facts about TrueMoney:

• Transfer speed: Real-time
• TrueMoney operating hours: Vary per location, with most branches open seven days a week from 9 a.m. to 6 p.m.
• Number of branches in the Philippines: Over 20,000 TrueMoney centers

TrueMoney Padala Notable Features:

• Accessibility. If you're wondering "Where's a TrueMoney near me?", then you'll be pleased to know that it can be found practically everywhere—in sari-sari stores, pawnshops, internet shops, salons, bakeries, pharmacies, carinderias, travel agencies, laundry shops, water refilling stations, and more.
• Pay only ₱3 fee for remittances of  ₱100 and below and only  ₱6 fee for remittances from ₱101 to ₱200
• 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.

13. Western Union Sulit Padala

Western Union Money Transfer Rates

• Domestic Remittance Rates:  ₱5 – ₱595
• Overseas Remittance Rates: ₱500 – ₱1,100
• Remittances above ₱50,001: 2% of the total amount

Basic Facts about Western Union:

• Transfer speed: Within minutes
• Western Union 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

Western Union Sulit Padala and Overseas Money Transfer Notable Features:

• Track a Transfer: Enables Western Union customers to check the status of their remittance online
• Mobile Money Transfer Service: Allows sending money to a Maya 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.

14. WorldRemit

WorldRemit Rates: 0.75% fee plus $3 for funds up to $135,000

Basic Facts about WorldRemit:

• Type: Online service
• Transfer speed: Instant
• WorldRemit operating hours: 24/7

WorldRemit Notable Features:

• Accessible money transfer. WorldRemit is available in over 140 countries and in 70 currencies.
• Diverse payment options. You can pay using debit/credit card, ApplePay, and Android Pay.
• Mobile wallet friendly. You can use WorldRemit to send money to your e-wallet.

15. Xoom

Xoom Rates: Up to $5.99

Basic Facts about Xoom:

• Type: Online
• Transfer speed: Six hours to two days
• Xoom operating hours:  24/7

Xoom Notable Features:

• $10,000 max amount. You can transfer up to $10,000 per transaction.
• Transfer track. You can monitor your money transfer online.
• Money-back guarantee. You can get your funds back in case it doesn’t reach your intended receiver.
• Select bank deposit and the money arrives in your bank account like Metrobank and PNB in minutes.

16. Xpress Money

Xpress Money Rates: Depends on current exchange rate and transaction amount

Basic Facts about Xpress Money:

• Type: Online
• Transfer speed: Instant
• Xpress Money operating hours: 24/7

Xpress Money Notable Features:

• Your loved ones can pick up your cash transfer to over 16,500 locations in the Philippines.
• Transfer Track. You can monitor your money transfer online.

17. Coins.PH

Coins Money Rates: ₱10 (InstaPay) 

Basic Facts about CoinsPH

• Transfer speed: Within 10 minutes to two days
• Type: Online
• Works as a mobile wallet and crypto wallet
• Lets you buy Bitcoin, Ethereum, Axie Infinity and more

Coins.PH Notable Features:

• Cash-in and cash-out money in real-time via bank deposits and other e-wallets.
• Send money to other Coins holder, GCash, GrabPay, JuanPay, Bayad, and other outlets.
• Available on Android and iOS devices

18. Tambunting Pera Padala

Tambunting Pera Padala Rates: ₱2 – ₱2,000

Basic Facts about Tambunting Pera Padala:

• Transfer speed: Remittances can be claimed in real-time.
• Tambunting operating hours: Branches are open from Mondays to Saturdays and other selected branches from Mondays to Sundays from (including holidays) from 8 a.m. to 9 p.m. Other branches have longer operating hours. 

Tambunting Pera Padala Notable Features:

• Send up to ₱100,000 maximum with ₱2,000 transaction fee. 
• Partners to major domestic remittance services like Western Union, Palawan Pawnshop, GCash, Maya Smart Padala, and more.
• Lets you cash in and cash out funds on Abra wallet.

19. Pera Hub

Basic Facts about Pera Hub:

• Accessible via mobile app 
• Partners to domestic and international remittance services

Pera Hub Notable Features:

• Available on iOS and Android devices. 
• Sending money can be online or through branch visit.
• Offers promos to loyal customers.

What's the Best Way to Send Money to the Philippines?

The best way you can send money to your loved ones in the Philippines depends on the service you use. The amount you send and the country from which you send the money from and the transfer speed also play a huge part. To find the best way to send money, consider the following factors:

• Transfer speed
• Rates
• Transfer method (online, in-person/traditional, wire, etc)
• Maximum amount you can send
• Dependability of the company
• Accessibility

What’s the Best Remittance Center in the Philippines?

When it comes to the best remittance center in the Philippines, there are a few different options to choose from. The best depends on the convenience and the fees and rates that each service provider offers as well. 

For example, freelancers and work-from-home consultants who have clients overseas prefer to use Transferwise, Payoneer, or PayPal to receive payments. These remittance and money transfer services are convenient to use and support direct withdrawal from local banks. Funds can also be transferred within the day or after two to three banking days at the latest. 

For OFWs, Western Union, World Remit, Transferwise, Xoom, and Xpress Money are great options for international remittances. Thus, it’s more convenient to send money to loved ones in the Philippines. For domestic remittances, Cebuana Lhuillier, LBC, GCash, Coins, Smart Padala are household names when sending money to friends, family, and relatives. They also offer bills payment, e-loading services, and more. 

Although pawn shops such as Cebuana Lhuillier, Palawan Express, and MLhuillier still require pick-up and on-site transactions, most pawn shops have expanded their services through their respective mobile apps. If you’re sending less than ₱50,000, you can even enjoy low remittance fees, especially for domestic transactions. 

Crypto holders, investors, and traders prefer Coins.ph for money transfers because it also functions as a crypto wallet. You can transfer not just money but also coins from one wallet to another for free. 

How Much Money Can I Send to the Philippines?

The maximum amount you can send to the Philippines, depends on the remittance center or money service you choose.

Below is the transfer/remittance limit you can send:

How Can I Send Money from the Philippines to Another Country? 

There are many ways to send money abroad if you’re in the Philippines. You don’t even need to visit a branch and waste your time on queues. Money transfer services such as PayPal, Payoneer, Transferwise, and World Remit are great options for digitally savvy people who transact with companies and individuals outside of the Philippines. 

Just make sure you have an account on these services and link your local bank account, debit card, or credit card to get started. You also have to fill out the online form, including the bank details of the recipient overseas. Remittance rates vary, so make sure you compare the fees, exchange rates, and the maximum amount you can send.

How to Choose the Best Remittance Center or Money Transfer Service

How do you know if you're doing business with the right remittance center or money transfer company? In a nutshell, its service should be affordable, quick, convenient, reliable, and secure.

Whether it will be your first time to avail of a money transfer service or you're a long-time customer planning to switch to a new provider, here are some important tips to remember when choosing the best remittance center in the Philippines.

1. Consider the Speed of Money Transfer

Of course, you want your money to get to your recipient as soon as possible. Most of the top remittance centers or money transfer services  in the Philippines can transmit cash in real-time or within minutes, so your loved ones won't have to worry and wait too long, especially if they need the money for an emergency.

2. Choose a Provider That Makes Money Transfer Convenient

Although remittance centers  and money transfer services traditionally enable transactions in person, some of them have leveled up in terms of offering convenience to their customers.

For example, there are money remittances that allow people to send money using their credit card or PayPal account, so they don't have to personally visit a branch. Likewise, money transfer recipients have other options aside from cash pickup. Some remittance centers enable direct deposit to a bank account. Others even do door-to-door delivery, which is the most convenient way to receive remittances.

3. Choose a Provider with Good Customer Service

Visit the social media accounts of the remittance and money transfer companies you're considering. Take note of what most feedback (and complaints, if any) is all about. Also, observe how each company replies to negative feedback on social media. How does it deal with disappointed customers? Does it even respond to customers?

Even better, ask your family and friends about their experience with certain service providers. It's important to know if a provider has a helpful, responsive, and friendly customer service team that can quickly assist you when an issue arises, like delays and failure to receive funds.

4. Do Business Only with a Reputable Service Provider

When it comes to anything that has to do with money, you don't want to take chances with a relatively unknown service provider, or one that has a shady reputation. Go with a company with a good track record and reputation.

5. Compare Fees of Various Providers

Which remittance center lets you save money with their low service fee? Keep this in mind when comparing different rates charged by remittance centers. Some service providers charge higher than others for a certain range of remittance amount.

While the money transfer fee seems minimal for every transaction, note that the fees add up over time as you keep sending money to your loved ones. Also, make sure to choose a service provider that doesn't charge recipients a fee for claiming remittance.

To make comparing service fees easier for you, we've created several comparison tables you can check when determining which remittance center provides the cheapest money transfer within the Philippines.

Overseas Money Transfer Fees: Cebuana Lhuillier vs. MoneyGram vs. Western Union

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

Meanwhile, MoneyGram is the most expensive option when sending ₱10,000 or less. However, its service fees are more or less the same as the other two remittance centers when sending more than ₱10,000.

Domestic Money Transfer Fee Comparison

TrueMoney is the cheapest remittance center in the country for sending cash up to ₱2,000. But those sending over ₱2,000 up to ₱50,000, RD Pawnshop offers the cheapest money transfer within the Philippines.

Meanwhile, MoneyGram has the most expensive money transfer fees regardless of the remittance amount. Western Union also charges the highest service fees for sending larger amounts, from ₱10,000 to ₱50,000.

Here are detailed tables comparing the money transfer fees of the listed remittances in the Philippines.

Pera Padala Rates in Metro Manila and North Luzon

Pera Padala Rates in South Luzon, Visayas, and Mindanao

What’s the Best Remittance Center in the Philippines?

When it comes to the best remittance center in the Philippines, there are a few different options to choose from. The best depends on the convenience and the fees and rates that each service provider offers as well. 

For example, freelancers and work-from-home consultants who have clients overseas prefer to use Transferwise, Payoneer, or PayPal to receive payments. These remittance and money transfer services are convenient to use and support direct withdrawal from local banks. Funds can also be transferred within the day or after two to three banking days at the latest. 

For OFWs, Western Union, World Remit, Transferwise, Xoom, and Xpress Money are great options for international remittances. Thus, it’s more convenient to send money to loved ones in the Philippines. For domestic remittances, Cebuana Lhuillier, LBC, GCash, Coins, Smart Padala are household names when sending money to friends, family, and relatives. They also offer bills payment, e-loading services, and more. 

Although pawn shops such as Cebuana Lhuillier, Palawan Express, and MLhuillier still require pick-up and on-site transactions, most pawn shops have expanded their services through their respective mobile apps. If you’re sending less than ₱50,000, you can even enjoy low remittance fees, especially for domestic transactions. 

Crypto holders, investors, and traders prefer Coins.ph for money transfers because it also functions as a crypto wallet. You can transfer not just money but also coins from one wallet to another for free.

Final Thoughts

To sum it up, when choosing between remittance and money transfer companies 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.

Sources:

• ^[1] 24k Rewards Program (Cebuana Lhuillier)
• ^[2] GCash Remit
• ^[3] LBC Instant Peso Padala
• ^[4] M Lhuillier Kwarta Padala
• ^[5] MoneyGram
• ^[6] Palawan Express Pera Padala
• ^[7] Payoneer
• ^[8] PayPal
• ^[9] RD Pawnshop Cash Padala
• ^[10] Maya Center