Your favorite money transfer company may be providing excellent 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 when you need to know more about remittance centers and money transfer services. Refer to this article to find 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 throughout 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, bill payment, foreign exchange, and e-loading.
👉 How Remittance Centers in the Philippines Work
Customers can 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.
Remittance centers in the Philippines enable individuals to send money to their families and businesses to accept payments from customers with no credit card or savings accounts.
What is a Money Transfer Service?
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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 transfers funds via money order, electronic fund transfer, or wire transfer.
You can transfer money via money order, making payments using a document such as a postal check. Another option is electronic fund transfer, which transfers money from your bank account to another. Lastly, a wire transfer is done if you want to electronically transfer money from one bank to another network.
Remittance and money transfer are pretty similar as they serve the same purpose. However, remittance specifically refers to 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?
You might want to use remittance or money transfer services for many reasons. Perhaps you need to send money to family or friends who live abroad, or you may 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
After sending the money, your recipient can pick up the funds at a nearby location. This is easier than sending a traditional bank transfer, which can take days or even weeks to process.
✔️ You Can Remit or Transfer Money Faster
Your recipient can usually pick up the funds within minutes or hours, depending on the service you use. This is important if you need to send emergency funds or just want your loved ones to receive the money as soon as possible.
✔️ You Pay Low Fees
This is especially important when sending large sums of money. Some services even offer special promotions with low or no fees, so it’s worth shopping around for the best deal.
✔️ You Can Take Advantage of Additional Features
Some money remittance and transfer services 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 specific dates.
List of Remittance Centers in the Philippines
“Is there a remittance center near me that’s open today?” To know the answer, check out this list of the best money transfer and remittance services in the Philippines.
Most offer domestic transfers, international remittance, and fund transfer services. Some are also open until late or operate 24/7.
💸 Cebuana Lhuillier Pera Padala
Cebuana Lhuillier Pera Padala Rates
- Domestic remittance rates: ₱1 - ₱500 (promo rate until September 30, 2023)
- Overseas remittance rates: ₱500 - ₱1,200
Basic Facts about Cebuana Lhuillier
- Transfer speed: Real-time
- Cebuana Lhuillier operating hours: Varies, with most opening as early as 7 a.m. and closing as late as midnight
- Number of branches in the Philippines: 3,000 branches
- 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 domestic remittance fee paid with 24K virtual card, which can be exchanged for discounts, exclusive privileges, and other special offers.[1]
- Accessibility via 24/7 branches: Check the branch locator to find your nearest 24/7 branch.
💸 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, meaning no maintaining balance is required.[2]
- Globe and non-Globe users can send money.
- Remittances from your PayPal and Payoneer can be cashed in directly to GCash.
Read more: GCash Starter Guide 2023: Your Most Common Questions Answered
💸 LBC Instant Peso Padala
LBC Instant Peso Padala Rates
- Same-day remittance (up to ₱15,000 only): ₱3 – ₱125[3]
- Next-day door-to-door delivery (up to ₱15,000 only): ₱35 – ₱260
Basic Facts about LBC
- Transfer speed: Within the day and next-day delivery options
- LBC operating hours: 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.
💸 M Lhuillier Kwarta Padala
ML Kwarta Padala Rates: ₱3 – ₱350
Basic Facts about M Lhuillier
- M Lhuillier operating hours: Is there an M Lhuillier near me open today, you ask? Most branches are open from Monday to Sunday until 5 p.m. There are over 50 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
- ML Diamond Card: Enjoy faster service, big savings, and earn points for all your domestic and international Kwara Padala transactions.[4] You can exchange your points for peso credits.
💸 MoneyGram
MoneyGram Money Transfer Rates: Depends on transaction amount
Basic Facts about MoneyGram
- Transfer speed: Within 24 hours
- MoneyGram operating hours: Office hours of Moneygram remittance centers in the Philippines 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]
💸 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 discounts on remittance fees and 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.
💸 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 transfers: You can transfer any amount you want with Payoneer.[7]
- Accessible: Payoneer is available in 150 countries.
💸 PayPal
PayPal Rates: US$0.99 to US$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 with a verified PayPal account.[8]
- Accessible: PayPal is available in over 200 countries
- Mobile-friendly: The PayPal app is available for both iOS and Android users.
💸 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]
💸 Maya Center (formerly Smart Padala)
Maya Center Rates: ₱15 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
- Hassle-free: Claim your Western Union remittance.
- Cash in and out at the Maya app or at any Maya Center.[10]
💸 Wise (formerly TransferWise)
Wise Rates: Starts at 0.43%
Basic Facts about Wise
- Type: Online service
- Transfer speed: One to two days
- Wise Operating Hours: 24/7
Wise Notable Features
- Receive payments in 10 currencies.
- Hold or convert your money in over 40 currencies.
- Works anywhere in the world and links your PayPal, Amazon, and other accounts.
- Supports two-way factor authentication to protect your account.
💸 TrueMoney Padala
TrueMoney Padala Rates: ₱3 – ₱330
Basic Facts about TrueMoney
- Transfer speed: Real-time
- TrueMoney operating hours: Varies 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, karinderyas, 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 a unique reference code via cell phone.
💸 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 received and 30 points for every domestic or overseas remittance sent. Accumulated points can be used for a 10%, 25%, or 50% discount on the next money transfer fee.
💸 WorldRemit
WorldRemit Rates: 0.75% fee plus US$3 for funds up to US$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 130 countries and 70 currencies.
- Diverse payment options: You can pay using debit/credit cards, bank account transfers, and ApplePay.
- Mobile wallet-friendly: You can use WorldRemit to send money to your e-wallet.
💸 Xoom
Xoom Rates: Up to US$5.99
Basic Facts about Xoom
- Type: Online
- Transfer speed: Six hours to two days
- Xoom operating hours: 24/7
Xoom Notable Features
- Generous maximum amount: You can transfer up to US$10,000 per transaction.
- Transfer track: You can monitor your money transfer online.
- Money-back guarantee: One advantage of using Xoom remittance center in the Philippines is you can get your funds back if they don’t reach your intended receiver.
- Select bank deposit, and the money arrives in your bank account like BPI, Metrobank, and PNB in minutes.
💸 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 outlets such as GCash, GrabPay, JuanPay, Bayad, and more.
- Accessible on Android and iOS devices.
Read more: What is Coins.ph? Here’s a Quick Guide to Using the Mobile Payment Platform
💸 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 (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 with major domestic remittance services like Western Union, Palawan Pawnshop, GCash, Maya Center, and more.
- Lets you cash in and cash out funds on Abra wallet.
💸 Pera Hub
Basic Facts about Pera Hub
- Accessible via mobile app
- Partners with domestic and international remittance services
Pera Hub Notable Features
- Accessible on iOS and Android devices.
- Send money however you like: online or through a branch visit.
- Get promos if you’re a loyal customer.
💸 Ria
Ria Rates: Varies on send country, transfer destination, amount, and payment/payout methods
Basic Facts about Ria
- Transfer speed: Instant or up to five days
- Ria operating hours: 24/7
Ria Notable Features
- Convenient way to send money via the website, mobile app, or at a partner Ria remittance center in the Philippines
- Zero fees on your first transfer
- Track your transfer using your PIN or order number
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, the country from which you send the money, 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
How Much Money Can I Send to the Philippines?
The maximum amount you can send will depend on the money transfer or remittance service.
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 need to visit a branch and waste time in 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 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 and indicate the recipient's bank details overseas. Remittance rates vary, so 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 you’re availing of a money transfer service for the first time or you're planning to switch to a new provider, here are some essential tips to remember when choosing the best remittance center in the Philippines.
📌 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.
📌 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, the most convenient way to receive remittances.
📌 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?
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.
📌 Do Business Only with a Reputable Service Provider
When it comes to anything related to money, you don't want to take chances with a relatively unknown service provider or one with a shady reputation. Go with a company with a good track record.
📌 Compare Fees of Various Providers
Which remittance center lets you save money with low service fees? Keep this in mind when comparing different rates charged by remittance centers. Some service providers charge higher than others for a specific range of remittance amounts.
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, 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 for 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 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?
The best depends on the convenience, fees, and rates that each remittance center in the Philippines offers.
For example, work-from-home consultants with overseas clients prefer to use Wise, Payoneer, or PayPal to receive payments. These remittance and money transfer services are convenient and support direct withdrawal from local banks. You can also transfer funds within the day or after two to three banking days at the latest.
Meanwhile, Western Union, World Remit, Transferwise, and Xoom are great options for international remittances.
Cebuana Lhuillier, LBC, GCash, Coins, and Maya Center are household names for domestic remittances when sending money to friends, family, and relatives. They also offer bill payments, 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 send less than ₱50,000, you can 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 money and coins from one wallet to another for free and find helpful links to check today’s VIS to PHP value.
Final Thoughts
When choosing a money transfer service or remittance center in the Philippines 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 Diamond Card
- [5] MoneyGram
- [6] Palawan Express Suki Card
- [7] Payoneer
- [8] PayPal
- [9] RD Pawnshop Cash Padala
- [10] Maya Center
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