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Compare USD to PHP foreign transfers

Use our comparison table to find the best exchange rates for Philippine Peso foreign transfers versus the Banks.

When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.

 
 

Compare Best Exchange Rates for:

   
$USD
₱PHP

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Foreign Transfer Providers
Ratings & Reviews
Receive PHP(₱)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
505,200 PHP
Best Overall
50.520^2.93%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
 
TransferWise logo
517,249 PHP
12,049 PHP
51.99$510.62%Bank Transfers - Online, Foreign Currency Accounts1-2 days
Wells Fargo Bank logo
494,708 PHP
10,492 PHP
49.56184.95%Online, Branch, Bank Transfers2-3 days
HSBC logo
494,357 PHP
10,843 PHP
49.51$155.01%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
491,351 PHP
13,849 PHP
49.42155.59%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
488,169 PHP
17,031 PHP
49.31$1006.2%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
488,169 PHP
17,031 PHP
49.31$1006.2%Online, Branch, Bank Transfers2-3 days
 
OFX: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:50.52 (2.93% from mid-rate)
PHP amount:505,200 PHP
Total Cost:2.93%
Time:
Rate Fetched: Tue Apr 23 2019 16:03:59 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
TransferWise: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:$51 USD (0.5% + $1)
Exchange Rate:51.99 (0.11% from mid-rate)
PHP amount:517,249 PHP
Total Cost:0.62%
Difference:
12,049 PHP more than using OFX
Time:18:01 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:18
Exchange Rate:49.56 (4.78% from mid-rate)
PHP amount:494,708 PHP
Total Cost:4.95%
Difference:
10,492 PHP less than using OFX
Time:18:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:49.51 (4.87% from mid-rate)
PHP amount:494,357 PHP
Total Cost:5.01%
Difference:
10,843 PHP less than using OFX
Time:18:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:15
Exchange Rate:49.21 (5.45% from mid-rate)
PHP amount:491,351 PHP
Total Cost:5.59%
Difference:
13,849 PHP less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:49.31 (5.26% from mid-rate)
PHP amount:488,169 PHP
Total Cost:6.2%
Difference:
17,031 PHP less than using OFX
Time:18:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logoU.S. Bank

U.S. Bank: Foreign Transfer USD→PHP
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:49.31 (5.26% from mid-rate)
PHP amount:488,169 PHP
Total Cost:6.2%
Difference:
17,031 PHP less than using OFX
Time:18:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
3 Month Chart
Loading AUDUSD rates

This is a chart showing the change in the USD-PHP mid-market exchange rate over the last week. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market USD-PHP exchange rate.

Currency news and forecasts for United States Dollar and Philippine Peso

Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency must always be quoted in comparison to a second currency.

So it follows that if you are determining the best time to transact, in this case the USD vs PHP, you should pay attention to both United States Dollar and Philippine Peso news and forecasts.

United States Dollar (USD) - Market news and forecasts

In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.

The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.

Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at a 5-year low.

Philippine Peso (PHP) - Market news and forecasts

The peso suffered one of its sharpest falls in recent years on March-12 when it weakened by 93 centavos against the dollar (an amount nearly four times the peso’s average daily range) to 53.05. This ended a good run for the peso, which appreciated away from record lows (54.43) in four of the five months between October and February.

The mid-march weakness was driven by significant developments in Philippine monetary policy. The country’s central bank governor suggested there could be significant policy easing this year in the form of policy rate cuts and cuts to the amount of cash that banks must hold in reserve.

The developments appeared to vindicate those analysts polled by Bloomberg in January, who collectively predicted that the peso would struggle in 2019.

An ING analyst said in March that the central bank would be comfortable with the peso between 52 and 55 per dollar, beyond which there may be market intervention. ING is forecasting the peso at 54.04 at year-end.