PH Trend Watch

Sending Money Home: How OFWs Can Get More Pesos Per Remittance

By the PH Trend Watch team · Updated October 29, 2026

Short answer: compare the total pesos your family receives, not just the fee. The exchange rate a service gives you often costs more than its fee. Use services supervised by the Bangko Sentral ng Pilipinas (BSP) or regulated in the country you work in.

The two costs of every remittance

  1. The fee — a fixed amount or a percentage.
  2. The exchange rate margin — the difference between the market rate and the rate the service gives you. This is often hidden.

A worked example

You send US$500 when the market rate is about ₱64 per dollar:

  • Service A: fee US$5, rate ₱63.20 → (500 − 5) × 63.20 = ₱31,284
  • Service B: fee US$10, rate ₱64.00 → (500 − 10) × 64.00 = ₱31,360

Service B charges a higher fee but delivers more pesos. Always compare the final amount received. You can check the day's reference rates in our Markets section.

Ways to get more pesos

  • Send larger amounts less often when fees are fixed per transfer.
  • Send to a bank account or e-wallet — it is usually cheaper than cash pickup.
  • Compare two or three services before each big transfer; rates change daily.
  • Don't try to time the market. Waiting for a "better rate" can backfire when your family needs the money now.

Stay safe

  • Use banks, licensed remittance companies and e-money issuers. In the Philippines, they are supervised by the BSP.
  • Never send money to someone you've only met online, or for a "job fee", "package release" or "prize".
  • Double-check the recipient's account details; transfers to the wrong account are hard to reverse.
  • Keep receipts and reference numbers until your family confirms they received the money.

Planning what your family does with it? Our 50/30/20 budget guide and emergency fund guide can help.

Examples are for illustration; fees and rates vary by service, country and day.

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