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
TD Bank - Dollar to Peso comparison table
makes it easy to compare the Total Fees (both variable and fixed) you are being charged by
TD Bank and other foreign exchange providers against the latest USD-PHP mid-rate and the possible savings of using various providers.
How do TD Bank USD-PHP rates compare between 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 60.61, -0.49% from the latest mid-market rate 60.91.
The next best is XE at 60.54, -0.61% from the mid-rate.
Then Wise at 60.23, which is -1.1% from the mid-rate.
The Western Union rate is 60 which is -1.5% from the mid-rate.
Among the banks the Chase Bank rate is 57.09 at -6.3% the Wells Fargo Bank rate is 56.91 at -6.6% and the Citibank rate is 59.7 at -2% compared to the mid-rate 60.91.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally,
banks like TD Bank 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
or platforms that offer rates closer to the mid-market rate.
