Article by MozoIf you’re wanting to send money to the Philippines from Australia, then you’ve come to the right place. Whether you’re transferring money between business, buying a house, sending money to loved ones or migrating there, then an international money transfer is the way to do it.
A successful IMT is when you transfer money from account to account. Mozo’s guide on transferring money to Philippines, will show you that it’s pretty easy to do. You can even transfer money online unassisted if your game! Here you will learn about how and when to transfer at a pace that’s right for your personal situation. Let’s take a look.
|a) need to transfer money to pay for your wedding reception?||x|
|b) have a business in Philippines?||x|
|c) need to convert dollars to pesos to holiday in the Philippines?||x|
|d) have property in Philippines?||x|
If you’ve answered yes to a, b or d, then making an IMT is what you need to do. But if you’re the lucky duck who has a ‘destination wedding’ on Boracay in the Philippines who answered yes to both a and c, then we advise you also visit Mozo’s Travel Money section for tips on converting Aussie dollars to pesos before touch down.
You can convert Australian dollars to Pesos and transfer them to anywhere in the Philippines. Make sure you have your recipient's bank ID numbers and their account details for a super smooth transfer. Will you use a bank or foreign exchange specialist? Read on to help you decide:
We use banks for nearly all money matters, but it doesn't mean it’s the only or best option. Have a look around and see what your options are. The safest alternatives are foreign exchange specialists.Pros: Familiar names that you already trust and use.
Cons: Higher transfer fees than other financial providers. Not as convenient as other methods if you can’t go to a branch during regular banking hours.
Specialists FX like CurrencyFair, TorFX, OFX are available online 24/7. These foreign exchange providers specialise in IMT, offering expert service and savings you want and expect.Pros:
Quick and safe international money transfer, less or no fees, cheaper rates than banksCons:
Since currencies change everyday, trading Australian dollars for Pesos may vary from one day to the next.
Mozo makes comparing really easy saving you lots of time. Just use our online comparisons tool and compare multiple IMT providers at one time. When comparing, look out for:
BIC - Bank Identification Code
SWIFT - Society for Worldwide Interbank Financial Telecommunication
IBAN - International bank account number Recipient - The person or party who receives the money being transferred
IMT - International money transfer
IMO - International money order.Country guides for transferring money internationally