Best Ways to Receive Money Internationally - 2025
If you’re waiting for a payment from overseas to the Philippines you have a few different options and payment methods. It’s a smart plan to discuss this with the person sending you money to make sure that you both get the best available service - with the lowest overall costs.
Some popular payment options include bank transfers, cash collection payments and transfers made using a multi-currency account from a provider like Wise. This guide walks through how each of these methods works, including the costs and convenience, to help you decide which suits you best.
Best ways to receive money internationally
Online multi-currency account
International money transfer specialist
Bank-to-bank international transfer
Cash pick-up
Home delivery
Mobile wallets
How do I receive money from overseas?
Before your payment is sent to you it’s worth weighing up the different transfer options to make sure both you and the sender get the best available deal.
This full guide to the best ways to receive money internationally in the Philippines covers all the different options you might consider, looking at costs, delivery times and more.
Each option has its own benefits and drawbacks - we’ll walk through key features around cost, convenience, speed and safety so you can talk to the sender about which method they prefer.
Information to give the sender
The exact information you need to give the sender will depend on the transfer method you agree on. However, it’s important to make sure you give all the details required to process the transfer, to avoid unnecessary delays or problems. Here are the key details you’re likely to need for different transfer types:
1. Online multi-currency account
If you open an online multi-currency account you’ll be able to give the sender the bank details for your account in the currency of your choice. You’ll always have to give your full name and account number - but some of the other details vary based on currency, for example if you’re getting a GBP payment you’ll need a sort code, while an AUD transfer needs a BSB number. Your multi-currency account will come with everything you need to receive your payment safely.
2. International money transfer specialist
If your sender is using an international money transfer specialist you’ll usually need to have the payment deposited into your PHP bank account - that means giving your Philippines bank account number, branch information, SWIFT code and your name as shown on your account.
3. Bank-to-bank international transfer
When your sender arranges a bank-to-bank international transfer they’ll be asked to give your Philippines bank account number, branch information, SWIFT code and your name as shown on your account. The sender’s bank will then convert the payment to PHP and deposit it to your account - usually via the SWIFT network.
4. Cash pick-up
When collecting a payment in cash your sender usually only needs to give your name. When the payment is processed they’ll be given a reference number - you’ll need to take this and your government issued photo ID to get your cash.
5. Home delivery
If you’re being sent money for home delivery you’ll need to give the sender your full name and address. You’ll then usually need to provide a government issued ID and a reference number to be handed the cash on your doorstep.
6. Mobile wallets
Payments can be sent to popular mobile wallets domestically and internationally - this would usually only need your mobile number, making it a very fast and simple way to receive money from abroad.
1. An online multi-currency account
One easy - and cheap - way to get paid from overseas is to open an online multi-currency account with a specialist provider. Depending on the account you select you may be able to access local account details for a range of currencies which your sender can use to pay you by local transfer.
Once funds are in your account you’ll be able to convert them to whichever currency you need, to withdraw, send or spend how you like.
Multi-currency account is great for: | Multi-currency account may not be for you if: |
|---|---|
✅ Receiving payments in foreign currencies without conversion ✅ Getting account information for many currencies ✅ Extra perks like card spending | ❌ You don’t want to register a new account with a provider ❌ You want a cash service |
Wise
The Wise Account allows you to hold 40+ currencies in one account and receive international payments in 20+ currencies including USD, GBP, EUR, NZD, and AUD. Whenever you need a different currency, just convert the money using the mid-market exchange rate.
Wise accounts offer local account information for select major currencies, which can be used by anyone sending money to you. You’ll be able to check the account information for the currency you need to receive in the Wise app and then easily share it with the sender so they can arrange a local payment to you.
Additionally you get SWIFT account details in 20 currencies with Wise. This gives more options for receiving payments, with small receiving fees applied that vary by currency.
2. International money transfer specialists
A specialist money transfer service is a business designed specifically to help people send money overseas. There are plenty of great money transfer providers out there, and it’s quick and easy for the sender to sign up. Providers like Wise, XE, and OFX can all be good options, depending on how much you’re receiving.
Specialist transfer is great for: | Specialist transfer may not be for you if: |
|---|---|
✅ Cheap transfers with good exchange rates ✅ Send money to a bank account internationally quickly ✅ Intuitive digital service offered by most providers | ❌ You prefer to manage your money in person ❌ You want to manage your payment in cash |
Wise - fast international payments which use the real exchange rate
Wise is a specialist in international transfers to bank accounts. You can send payments to 140+ countries online and using the Wise app, with the mid-market exchange rate and low, transparent fees. Many Wise international money transfers can arrive instantly, with the vast majority landing within 24 hours.
XE - send money almost anywhere in the world
XE is another option for international payments more or less anywhere. They’ve been around for many years and have comprehensive services for individuals and businesses. Fees vary depending on the payment details - where you’re sending from, and the currency required, can make a difference.
OFX - specialist foreign exchange provider with personalised services
If your sender wants to be talked through their options for sending you money, OFX is a good bet. OFX is known to provide superb customer service, and their currency transfers are fast and intuitive. Most transfers will be with the recipient in one to two business days.
3. Making a bank-to-bank international transfer
A common way to transfer money is with an international transfer.
Your sender goes to their bank in person, or uses the online banking service, enters your details, funds the transfer, then sends it for processing. Their bank converts the money, sends it over the banking network and it arrives in your account within two to five days after being sent.
Bank transfer is great for: | Bank transfer may not be for you if: |
|---|---|
✅ Face to face service in a branch ✅ Reliable and familiar ✅ No need to register a new account with a different provider | ❌ You want the cheapest service out there ❌ You’re in a hurry |
Unfortunately, there can be a couple of problems with international bank transfers—high fees and poor exchange rates.
Here’s a quick summary of the various fees you and the sender will pay to make and receive an international money transfer:
💡 International bank transfer fees explained: | |
|---|---|
💰 Fixed fee, payable by the sender, for making the transfer | This fee may be applied by the bank every time the sender transfers money internationally. Fees do vary a lot depending on where the sender is based and how much they’re sending over to you. |
💰 Intermediary bank fees, payable by you on the amount received | When banks transfer money internationally, it’s possible your currency exchange will be routed through one or more intermediary banks. These intermediaries can take a service fee which is deducted from the payment amount. |
💰 Receiving bank fees, payable by you | Finally, you may need to pay a fee to your own bank when you receive money into your account. Check your account fee schedule to see if this applies to you. |
💱 Poor exchange rates offered by the banks | Bank exchange rates can include a markup - that’s a fee added to the mid-market rate you’d see on Google or using a currency converter. The combination of all these charges means that you and the sender could be spending far more than you expect on your bank transfer. |
4. Cash pick-up
If you’re looking for a super quick and convenient way to receive money internationally in the Philippines, having your sender choose a provider which offers cash pick-up might work. In this case, your sender can arrange the payment online, in person, by phone or using an app - depending on the specific provider selected. They’ll be able to find an agent location close to home in the Philippines, and then you can go collect your money in cash - often instantly.
There are quite a few options for cash collection in the Philippines- however, it’s worth noting that the fees for the sender can be high, and the exchange rates offered aren’t usually the best.
Cash pick up is great for: | Cash pick up may not be for you if: |
|---|---|
✅ Getting money to someone quickly ✅ Convenient way to get cash when there’s no ATM ✅ Send from more or less anywhere in the world | ❌ You want to keep fees low ❌ You’d prefer to send to a bank |
Western Union
Western Union has a huge agent network of over 550,000 locations globally, with dozens available throughout the Philippines. Your sender will be able to set up a payment online, in person or through the Western Union app, paying by cash, card or bank transfer.
Once they’ve arranged the payment they’ll need to give you a reference number which you take - along with your government issued ID - to a local agent, to collect your money. Western Union has several different service options, including Money in Minutes - which allows for instant cash collection around the world.
Fees for cash collection services with Western Union can be high - and it’s also worth knowing that the exchange rate will vary according to the specifics of the payment, and will include a markup on the mid-market rate.
MoneyGram
With a huge network of global locations - and plenty of choice in popular spots around the Philippines- MoneyGram is another convenient pick for cash collection services. The sender can set up their payment in a variety of ways depending on their home country, and cash can be made instantly available if they’re paying by card.
As with Western Union, fees and exchange rates for MoneyGram may not be the best on the market - but this can still be a popular option if you’re looking for convenience and speed.
5. Home delivery
Many of the same providers which offer cash pick-up options for international payments can also offer home delivery of cash. This service is typically available in more isolated or rural areas where the provider doesn’t have such a strong agent network.
If your sender is able to find a provider which will arrange home delivery to, getting your money is super simple. All you’ll need to do is wait at home for a courier to arrive, and show your government issued photo ID to take delivery of your payment.
Home delivery is great for: | Home delivery may not be for you if: |
|---|---|
✅ Convenience ✅ Payments where access to transport is limited ✅ Fast services | ❌ You want a cheap option ❌ You can’t find a suitable service |
6. Mobile wallets
Many Philippines residents already use a broad range of mobile wallets for everything from paying for food to transport and more.
Sending payments with a mobile wallet is very straightforward, with most only needing a phone number to make an instant funds transfer. However, when it comes to receiving money internationally you’ll need to make sure that your preferred wallet is available overseas, and can handle cross-currency payments.
Mobile wallet is great for: | Mobile wallet may not be for you if: |
|---|---|
✅ Receiving quickly ✅ Hold a balance to spend online later ✅ Popular services are commonly used | ❌ You want the best exchange rate ❌ You don’t want to have to withdraw to your bank later |
GCash
You can receive money internationally in the Philippines through GCash. The person sending you money could transfer from their own GCash wallet, or through a GCash partner. You may then be able to receive the money automatically in PHP in your GCash wallet in some cases, or you might be asked to enter a reference number to receive your remittance. GCash remittance fees can apply depending on the method and payment partner selected.
Maya
You can receive payments to your Maya wallet if you have an upgraded and verified account. The sender can select a Maya partner to arrange their remittance, such as Western Union or MoneyGram, and your payment is delivered to your Maya walleye in PHP. You may get your money automatically once the payment has cleared, or you might have to enter the reference number your sender gives you.
Fees for receiving money internationally
The total cost paid to receive money internationally does vary by the method and provider used to process the payment. Who pays the costs - sender or recipient - can also vary. It’s useful to know that the fees involved in international payments are likely to cover 2 or 3 different types of charge:
Upfront transfer fees - usually shown to the sender before confirming the payment
Exchange rate costs - which can be the highest fee of all - more on this below
Third party fees - including bank intermediary fees and charges from your own bank to receive a payment
Third party fees are a particular problem if you’re having money sent to your bank account. In this case there are often extra costs which are associated with the SWIFT network - the network used to process most international bank payments.
Under the SWIFT system, the sender’s bank will work with up to 3 different intermediary banks to process the payment - and each intermediary can deduct a fee when they process the transfer. The full costs are not always known upfront which can make it tricky to predict how much you’ll get in the end.
Often when your sender sets up a bank to bank transfer they’ll be able to choose how to distribute the costs of the payment:
If they select a BEN payment, the beneficiary will pay all third party fees
In an OUR payment the sender covers all costs
And if they choose SHA the costs are split between sender and recipient
Talk to your sender about who will cover these third party costs to make sure there are no surprises when the payment arrives.
What exchange rate will I get?
The exchange rate used to process your international payment will make a big difference to the overall cost of the transfer, and how much you receive in the end.
Most providers add a markup or margin to the rate you’ll find on Google. That’s an extra fee which can push up the costs of the payment.
Banks in particular could add an extra 3% or so charge onto the exchange rate passed on to customers. That doesn’t sound like a lot, but it would be an extra 300 PHP charge on a payment of 10,000 PHP - probably more than the upfront transfer fee initially paid.
Before your payment is sent, talk to the sender about the exchange rate that’ll be used. Many specialist providers such as Wise can offer mid-market exchange rates which means your sender can cut their costs dramatically.
Do I have to pay taxes on money transferred from overseas to the Philippines?
If you’re receiving a payment from overseas you’ll need to check with the authorities whether or not you need to report or pay tax on it. The tax position will depend on the value of the payment, and what it relates to.
Is there a limit to receiving money from abroad?
The limits applied on international payments are usually set by the providers processing the transfer, and can vary substantially. If you’re expecting to receive a high value international transfer, have your sender check the rules set by their preferred bank or provider before you get started.
Conclusion: What is the best way to receive money internationally?
These days it’s increasingly common to need to move money across borders - and so, you’ll have a broad range of options to choose from if you need to receive money internationally in the Philippines. Whether you’re looking for a low cost transfer right into your PHP bank account, a fast payment for cash collection, or a transfer to your favourite mobile wallet you’ll be able to get your money quickly and without any hassle.
Before your sender processes your international payment it’s well worth talking through the pros and cons of the different payment options outlined in this guide. Picking a provider with a great exchange rate, low fees and no sneaky hidden costs could mean your sender pays less - and you end up with more in the end, too.
How to receive money from overseas in the Philippines FAQ
Overseas bank-to-bank transfers typically take 3 - 5 business days to arrive. However, if you send your payment with a specialist provider you could get your money faster - many specialists offer quick or even instant transfers.
If you’re having a payment sent to your local Philippines bank account you’ll often pay a receiving fee. Check the terms and conditions of your account to confirm - or pick an alternative way to get your money, like an online multi-currency account, to cut out this extra cost.
Whether or not you need to declare your payment will depend on its value and the reason for the transfer. Check with a professional tax adviser if you’re unsure.