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Understanding the Table:
The comparison table above helps you see the total cost of your Remitly currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Remitly is an online money transfer platform that has helped immigrant communities around the world to send money to loved ones.
Sending money abroad has been the same for the past 100 years - tedious, expensive & complicated. But, this app can change that. By using modern technology to send & receive cash, it eliminates all of those issues and makes international transfers a more reliable & secure process.
By saving on a lot of the costs associated with brick & mortar operations, Remitly money transfers can be much cheaper for their customers. This helps them to have more funds to send in order to help their loved ones in those hard-to-reach parts of the world.
New: Remitly customers sending money to Mexico can now choose to send money to their mobile wallet MercadoPago, the largest mobile wallet in Mexico.
The Remitly USD to PHP exchange rate is 55.5. This is -2.5% compared to the latest USD-PHP mid-market rate 56.92.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Philippine peso (PHP) rates from different sources before making a conversion.
The above Remitly - Dollar to Peso comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Remitly and other foreign exchange providers against the latest USD-PHP mid-rate and the possible savings of using various providers.
Looking at the full USD to PHP - Send Money comparison table the provider with the best USD to PHP exchange rate is OFX at 56.64, -0.49% from the latest mid-market rate 56.92.
The next best is XE at 56.58, -0.6% from the mid-rate.
Then Wise at 56.55, which is -0.65% from the mid-rate.
The Western Union rate is 56.35 which is -1% from the mid-rate.
Among the banks the Chase Bank rate is 51.72 at -9.1% the Wells Fargo Bank rate is 51.37 at -9.8% and the Citibank rate is 53.99 at -5.1% compared to the mid-rate 56.92.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service like Remitly or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
| Best Exchange Rates.com - Compare and Save on Foreign Exchange |
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