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Sending money to Philippines can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers to India can be especially expensive – often 5% to 10% worse than using a foreign exchange specialist to send to Philippines bank accounts or pay a Philippine peso invoice.
The above comparison table makes it easy to calculate the Total Cost you are being charged on your currency transaction by Bank of Montreal versus the below market mid-rate. It is easy to calculate any savings available from popular market-leading FX providers.
View a full list of exchange rates by selecting your Base (from) currency: