Want to send money to the Philippines? Thinking about a bank wire to transfer money to the Philippines? Before you ask your financial institution to do it, make sure you check the wire transfer fees. It might come as a shock how much the fees and charges will be and depending on the dollar amount, it might not be worth sending the money by bank wire transfer to forward the money another way.
What makes it more costly is in addition to your bank charging a fee for sending the money to a bank in the Philippines, the recipient getting the transfer of funds will probably incur a fee from their bank. A way to minimise the possibility of the charge is to send the international wire transfer in their designated currency.
To make a wire transfer to the Philippines, you might require a SWIFT code. These are different for each financial institution and based on references including the country and individual bank.
Bank wire details for the Philippines
- Country – Philippines
- SWIFT Country Code – PH
- Central Bank Name – Bangko Sentral ng Pilipinas
- Currency – Philippine Peso
- Currency Code – PHP