Moving money to the Philippines is where most expats lose money—fast.
Bad exchange rates. ATM fees. Blocked cards. Delayed transfers.
Most people don’t think about this part until after they arrive—and by then, they’re already paying for it.
This guide breaks down what actually works so you don’t waste money figuring it out the hard way.
The Biggest Mistakes Expats Make with Money
Before we get into solutions, here’s where most people go wrong:
- Using their home bank for international transfers
- Exchanging money at the airport
- Relying only on credit cards
- Not having a backup payment method
- Waiting until they arrive to figure it out
None of these are catastrophic—but they all cost you money.
The Best Way to Send Money to the Philippines
If you’re moving or planning to stay long-term, you’ll need a reliable way to move money internationally.
What actually works:
Wise (formerly TransferWise)
Wise is one of the simplest and most cost-effective ways to send money to the Philippines.
- Real exchange rates (no hidden markup)
- Lower fees than most banks
- Fast transfers (often same day)
- Works with U.S., Canadian, and international accounts
👉 Most expats use something like Wise as their primary transfer method.
Backup Option for Transfers
It’s smart to have a second option in case something doesn’t go through.
Remitly
- Faster in some cases
- Good for urgent transfers
- Easy to use
👉 Not always cheaper than Wise, but useful as a backup.
How to Access Your Money After You Arrive
Once your money is in the Philippines, you’ll typically use:
- Local ATMs
- Debit cards
- Cash withdrawals
Tips:
- Use major bank ATMs (BDO, BPI, Metrobank)
- Avoid standalone or off-brand machines
- Withdraw larger amounts less frequently to reduce fees
Should You Open a Local Bank Account?
Short answer: not immediately.
You can get by for quite a while using:
- International transfers
- ATM withdrawals
- Debit/credit cards
When it makes sense:
- You’re staying long-term
- You have a visa that allows it
- You want to reduce fees further
Credit Cards vs Cash
The Philippines is still a cash-heavy country.
- Many places accept cards (especially in cities)
- Smaller businesses often do not
👉 Always have cash available.
What to Set Up Before You Move
To avoid problems when you land:
- Set up an international transfer method (Wise)
- Notify your bank you’re traveling
- Bring at least two working debit/credit cards
- Have access to backup funds
Final Thoughts
Money is one of the easiest things to get right—but also one of the easiest places to lose money if you don’t plan ahead.
Set up the basics before you go, and you’ll avoid most of the common problems expats run into.