Currency Converter Philippines (PHP, USD, SGD, AED, JPY +)
Convert between Philippine Peso and 12 major OFW currencies. Compare Wise, GCash, Western Union, and bank SWIFT rates to find the cheapest way to send money home.
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Default rate is the typical 2026 mid-market rate.
Check current rates at xe.com or Google “USD to PHP” and update this if needed. The mid-market rate is the “true” rate banks see — every method below adds a margin on top.
Tip: Wise typically gives 95–98% of the mid-market rate. Banks and Western Union take 3–6% in hidden margins on top of any visible fee. Always compare total amount received, not just the headline rate or fee.
How much you receive
How currency conversion works for OFWs
When you send money from abroad to the Philippines (or vice versa), the money goes through three layers of cost:
- The mid-market rate — the “true” exchange rate banks see on Bloomberg. Example: 1 USD = ₱56.50 today.
- The provider’s margin (FX spread) — the difference between the rate they give you and the mid-market rate. This is where most providers make their money. Banks: 3–5%. Western Union: 2–4%. Wise: 0.5–1%.
- Transaction fees — a flat or percentage charge per transfer. Wise: ~₱100–500 fee but lowest spread. WU: variable. Bank SWIFT: ₱500–2,500 plus correspondent bank fees.
The cheapest method depends on the amount: for under $500 sends, Wise almost always wins. For $5,000+ sends, banks sometimes become competitive because their flat fee gets spread over a larger amount.
Comparing remittance methods
| Method | FX margin | Speed | Best for |
|---|---|---|---|
| Wise | 0.5–1% | Hours–1 day | $50 to $5,000 sends. Cheapest most of the time. |
| GCash International (FX) | 1–2% | Instant | Small frequent sends ($50–$500), recipients with GCash |
| Remitly | 1–3% | Minutes–1 day | Quick PH sends; choose “Express” for speed, “Economy” for lower fee |
| Western Union | 2–4% | Minutes | Cash pickup at agent locations. Recipients without bank accounts. |
| Bank SWIFT | 3–5% | 1–3 days | Large amounts ($5,000+) where flat fees spread thin. Documentation purposes. |
| PayPal | 3–4% | Instant–1 day | Online sellers, freelancers receiving from clients. Convenient but expensive. |
2026 typical exchange rates against PHP
Reference rates as of early 2026. These move daily — check current rates before transacting:
| Currency | Mid-market rate | Common OFW destinations |
|---|---|---|
| USD 🇺🇸 | 1 USD = ₱56.50 | USA, Canada (parts), Saudi Arabia (in practice) |
| AED 🇦🇪 | 1 AED = ₱15.40 | Dubai, Abu Dhabi, UAE |
| SGD 🇸🇬 | 1 SGD = ₱41.80 | Singapore |
| HKD 🇭🇰 | 1 HKD = ₱7.24 | Hong Kong |
| JPY 🇯🇵 | 1 JPY = ₱0.38 | Japan |
| GBP 🇬🇧 | 1 GBP = ₱72.30 | UK |
| EUR 🇪🇺 | 1 EUR = ₱61.50 | Italy, Spain, Germany |
| CAD 🇨🇦 | 1 CAD = ₱41.70 | Canada |
| AUD 🇦🇺 | 1 AUD = ₱37.50 | Australia |
| MYR 🇲🇾 | 1 MYR = ₱12.10 | Malaysia |
| KRW 🇰🇷 | 1 KRW = ₱0.041 | South Korea |
| THB 🇹🇭 | 1 THB = ₱1.62 | Thailand |
| CNY 🇨🇳 | 1 CNY = ₱7.85 | China, Taiwan (parts) |
Tips to maximize what your family receives
- Compare the receiver amount, not the fee. A “₱0 fee” transfer with a 5% hidden margin is worse than a “₱500 fee” transfer at the true rate. Always look at what arrives in PHP.
- Avoid airport money changers. They take 5–8% spread because they prey on travelers with no other option.
- Send larger amounts less often. Most providers have flat fees + percentage. Consolidating 3 small sends into 1 big send saves 60–70% on flat fees.
- Use Wise for amounts $200+. Below $200, GCash International or Remitly Express may be cheaper because Wise has a minimum fee.
- Time your sends. PHP weakens slightly during US Federal Reserve rate hike announcements. If you can wait 24-48 hours during rate decision days, you may get 0.5–1% more.
- Check the actual mid-market rate on xe.com or Google before deciding. Do not trust the provider’s “great rate” claim — verify against the real rate.
- Beware “instant” pickup at WU/MoneyGram. The instant option often costs 1–2% more than the 24-hour option. If you can wait a day, you save money.
- Bank-to-bank SWIFT only makes sense for sends over $5,000 to $10,000. Below that, fees plus correspondent bank charges eat the savings.
Frequently asked questions
Why is the rate I see on Google different from what I get at the bank?
Google shows the mid-market rate — the wholesale rate that banks pay each other. When you transact at a bank, ATM, or Western Union, they add a markup of 2–5% to the mid-market rate. That markup is their profit. Wise is one of the few providers that actually gives you the mid-market rate, then charges a small visible fee instead. The “exchange rate” you are quoted by most providers already includes their hidden margin.
Is GCash International better than Wise?
For small frequent sends ($50–$200), GCash International (the in-app FX feature) is competitive with Wise because it has lower minimum fees and instant transfers. For amounts above $200, Wise typically gives a slightly better rate — sometimes 0.3–0.7% more PHP received. Both work directly to the recipient GCash wallet. Try both with a small test transfer to see which gives more.
Is Western Union still worth using in 2026?
WU is more expensive than digital options (Wise, Remitly) for online-to-bank transfers. It still wins in two scenarios: (1) when your recipient has no bank account or GCash and needs cash pickup, (2) when you need money to arrive in minutes and your only digital option is bank wire which takes 1–3 days. For everything else, switch to Wise or Remitly to save 1.5–3% per transfer.
Do I have to pay tax on money I send to the Philippines?
No. Money sent to family members in the Philippines as remittance is not taxable in the Philippines under current BIR rules. The recipient does not declare it as income. The sender pays tax in the country they earn the money in (US, Saudi, etc.) before sending. There is no PH “remittance tax” — those rumors are fake news. For very large amounts ($10,000+ from US), the sender bank may file an FBAR/CTR with their country authorities but this is reporting, not taxation.
What is the cheapest way to send $500 from the US to the Philippines?
In 2026 the cheapest options for $500 USD → PHP are: (1) Wise at ~0.5% margin + ~₱200 fee = ~99% efficiency, recipient gets about ₱27,700–₱28,000 from $500. (2) GCash International ~98.5% efficiency, recipient gets ₱27,500–₱27,700. (3) Remitly Economy ~98% efficiency, ₱27,300–₱27,500. (4) Western Union online ~96% efficiency, ₱27,000–₱27,300. (5) Bank wire ~94–95% efficiency, ₱26,500–₱27,000. The difference between best and worst on $500 is about ₱1,500 per transfer.
Can I lock in today exchange rate for a future transfer?
Yes, with two providers: (1) Wise offers “rate alerts” plus 48-hour rate lock for the rate you saw when you initiated. (2) Some banks offer “forward contracts” for larger amounts ($10,000+) that lock the rate for up to 12 months — useful for OFWs sending fixed monthly amounts. For smaller amounts, the simplest approach is just to send the moment you see a rate you like.
Why does the peso keep weakening against the dollar?
The PHP-USD rate reflects supply and demand for each currency. Factors pushing peso weaker: BSP keeping rates lower than the US Federal Reserve, large PH trade deficit, strong US economy. Factors pushing peso stronger: OFW remittances, strong tourism, foreign direct investment. Long-term trend since 2020 has been peso weakening from ₱48/USD to ₱56–57/USD as of 2026. Most economists expect the peso to stabilize around ₱55–60/USD over the next 2–3 years.
How do I check if a remittance provider is legitimate and safe?
For Philippines: verify the provider is registered with the BSP (Bangko Sentral ng Pilipinas) as a Money Service Business (MSB). Check the BSP public list at bsp.gov.ph. Legitimate providers always show: (a) regulatory license number on their website footer, (b) physical address, (c) customer service phone with response, (d) transparent fee structure shown BEFORE you commit. Red flags for scams: anyone asking for upfront fees to “release” a transfer, “lottery winnings” requiring you to pay tax to receive, unsolicited messages offering “below market rate” deals. When in doubt, stick to Wise, Remitly, WU, MoneyGram, or established PH banks (BDO, BPI, Metrobank).
Estimates only. Exchange rates change every minute. The default rate is a 2026 reference — always check current rates at xe.com or your provider before transacting. Method margins (Wise, GCash, WU, SWIFT) are typical industry averages and vary by amount, destination, and promotional offers. Fees may differ by region and account type. This calculator does not constitute financial advice — consult your bank or licensed financial advisor for large transfers or complex situations.