Sending Money to the Philippines via Remitly: A Detailed Explanation of Fees, Discounts, and Payment Options

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Did you know? Sending money to the Philippines via Remitly remittance can have a base fee as low as $3.99. Of course, the final cost varies based on your transfer amount, desired arrival speed, and chosen payment method.

New User Tip: If this is your first time using Remitly, you can typically enjoy a promotional offer on your first transfer, such as fee waivers or a more competitive exchange rate, making your initial transaction more cost-effective.

Key Points

• Remitly transfer fees include a base transfer fee, payment method fees, and an exchange rate markup. Choosing Economy service with bank account payment usually results in the lowest costs.
• New users can benefit from first-transfer promotions, while existing users can save through friend referrals and seasonal promotions.
• The transfer process is simple: create an account, enter details, and select payment and delivery methods. Recipients can choose bank deposit, cash pickup, or mobile wallet.
• Remitly has transfer limits, but users can submit additional information to increase limits for larger transfers.
• Transfers can be canceled before pickup. Remitly uses encryption to protect funds, and users can track transfer status.

Remitly Fee Structure

To fully understand the cost of sending money to the Philippines via Remitly, you need to know how its fees are calculated. Remitly’s fee structure is highly transparent and consists of three main parts: base transfer fee, payment method variations, and exchange rate markup. Below, we break them down one by one.

Base Transfer Fee

Your base transfer fee is primarily influenced by two factors: transfer speed and amount. Remitly offers two speed options, each with different fee standards.

• Express Service: Funds typically arrive within minutes. This speed advantage means slightly higher fees.
• Economy Service: Funds take 3 to 5 business days to arrive. In exchange, you pay lower fees.

For transfer amounts, fees also vary.

• When sending less than $1,000, fees typically range from $3.99 to $9.99.
• With Economy service, the range is generally $3.99 to $7.99.

Large Transfer Tip: If you need to send a large sum, such as over $20,000, fees may increase accordingly, up to $99.99.

A special perk is that when using Economy service for transfers over $1,000, Remitly usually waives the base transfer fee. But does this mean it’s completely free? That depends on the next key factor: the exchange rate.

Payment Method and Fees

The payment method you choose directly affects the total cost. Bank account payments are usually the most economical, while card payments incur additional fees.

Credit Card Payment Note When using a credit card for remittances, your credit card issuer may treat the transaction as a “cash advance.” This is a short-term loan that typically triggers two extra fees: a cash advance fee (either a fixed amount or a percentage of the transfer) and interest rates much higher than regular purchases. These fees are charged by your card issuer, not Remitly.

Exchange Rate Markup

The exchange rate determines how much the recipient ultimately receives. Like most remittance providers, Remitly adds a small markup to the standard market rate (the rate you see on Google) to generate profit.

This markup is usually very small. For example, when you enjoy the Economy service fee waiver for transfers over $1,000, Remitly may include about a 0.5% exchange rate markup.

Let’s look at a simple example:

• You send $1,000.
• A 0.5% markup means approximately $5 in cost is embedded in the rate you receive.

Therefore, even with a $0 base transfer fee, the service isn’t entirely free. When comparing services, you must consider both transfer fees and exchange rates to accurately calculate the total cost.

When benchmarking total cost, visit the BiyaPay website and use the free exchange-rate comparison to verify net received.

If you need a backup rail, set up beneficiaries via BiyaPay Remittance; fiat–crypto conversion supported, fees as low as 0.5%.

BiyaPay is a multi-asset wallet for cross-border payments and fund management, operating under US MSB and NZ FSP, with same-day remittance supported on select routes.

How to Send Money to the Philippines via Remitly

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After understanding the fees, you’ll find the actual process very intuitive. Sending money to the Philippines via Remitly has clear, simple steps—you can complete setup and initiate your first transfer in minutes.

Create and Verify Account

Before starting, you need a Remitly account.

1. Visit Remitly’s official website or download its mobile app.
2. Register using your email address.
3. Follow the prompts to complete initial setup—the process is quick.

Enter Transfer Details

After logging in, the transfer process officially begins.

• Enter amount: First, input the USD amount you wish to send. The system will automatically display the PHP amount the recipient will receive and the applicable exchange rate.
• Provide recipient details: Next, accurately fill in the recipient’s information, which usually includes their full name, address, and phone number.

Choose Payment and Delivery Methods

The final step is selecting how you’ll pay and how the recipient will receive the funds.

You can use a bank account, debit card, or credit card to pay.

Recipients in the Philippines have multiple flexible delivery options:

• Bank Deposit: Funds are deposited directly into the recipient’s bank account, supporting banks including Philippine Savings Bank and GoTyme Bank.
• Cash Pickup: Recipients can collect cash at nationwide locations, such as Cebuana Lhuillier or M Lhuillier.
• Mobile Wallet: Funds can be sent instantly to the recipient’s e-wallet, with GCash being one of the most popular choices.
• Home Delivery: In some areas, Remitly also offers cash home delivery.

Important GCash Transfer Tip If you choose GCash delivery, ensure the following to guarantee a smooth transaction:

1. The recipient must have a registered and fully verified GCash account.
2. The recipient’s full name and phone number you provide must exactly match their GCash account details. Any mismatch may cause transfer failure.
3. Before remitting, confirm the recipient’s GCash wallet receiving limit to avoid issues due to exceeding limits.

Tips to Save on Remitly Transfer Fees

While Remitly’s fees are already competitive, you can further reduce costs with smart strategies. Mastering these methods makes every transfer more cost-effective.

Leverage New User Promotions

If this is your first time using Remitly, you’ll receive a special “welcome gift.” Remitly typically offers new users a one-time promotional deal—this could be a fee waiver or a special exchange rate far better than standard.

New User Promotion Notes This offer is highly attractive, but you need to understand its specific rules to enjoy it smoothly:

• First-time only: This promotion is designed exclusively for first-time users and can be used once per person.
• One-time transaction: The special rate usually applies only to your first transfer. If your amount is below the promotion cap (e.g., $10,000), the remaining balance won’t carry over to future transfers.
• Standalone offer: Opting into the new user promotion may prevent you from using other promotions simultaneously.
• Successful transaction: You must complete the transfer successfully for the promotion to apply. If the transfer is canceled or fails, you lose eligibility.

Using the first-transfer promotion wisely is the best first step in your cost-saving remittance journey.

Watch for Seasonal Promotions

Remitly often launches promotions during specific holidays or seasons, especially around major Philippine holidays. These are excellent opportunities to save.

Pay special attention to these times:

• Christmas
• New Year
• Easter

During these periods, Remitly may offer special promo codes for fee waivers or directly provide better rates. To avoid missing limited-time offers, subscribe to Remitly’s email notifications or regularly check the app for the latest promotions.

Join the Friend Referral Program

Once you’re a satisfied Remitly user, you can earn ongoing rewards by referring friends. This is a win-win cost-saving strategy.

When you invite a friend to register and use Remitly via your exclusive referral link, once they successfully complete their first transfer, you typically receive a $15 credit as a reward. This credit is automatically added to your account and can offset fees on your next transfer.

To ensure both you and your friend receive the rewards, follow these key conditions:

This program has no referral limit. The more friends you refer, the more rewards you earn, helping you save significantly on future transfers.

Remitly Transfer Limits and Policies

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Before starting your transfer, understanding Remitly’s transfer limits and related policies is crucial. This helps plan large transfers and know how to cancel if needed.

Understand Transfer Limits

For fund security, Remitly sets transfer limits for all users. When you first register and provide only basic information, your initial limits are typically:

• Within 24 hours: Up to $2,999
• Within 30 days: Up to $10,000
• Within 180 days: Up to $18,000

These limits vary by country, but they meet most daily remittance needs. If you need to send larger amounts, the maximum can reach $30,000 or more, but this requires upgrading your account tier.

Increase Your Limit

Raising your transfer limit is a straightforward process. Remitly uses a tiered system to manage limits—you simply provide additional information as required to upgrade.

• Upgrade to Tier 2: You need to submit additional documents to verify your identity. Remitly will guide you through this step in the app or website.
• Upgrade to Tier 3: When you need higher limits (e.g., up to $60,000 within 180 days), Remitly will ask questions about your fund source and transfer purpose.

Upgrade Tip After submitting all requested information, Remitly usually reviews and responds within 48 hours. It’s recommended to complete account upgrades in advance of large transfers.

Cancellation and Refund Policy

If you notice an error or change your mind after sending, you have the opportunity to cancel the transaction.

Key Prerequisite: You can only cancel before the recipient collects or deposits the funds.

You can easily cancel by:

1. Logging into your Remitly account.
2. Finding the transaction you want to cancel in “Transfer History.”
3. Clicking “Cancel Transfer” and following the prompts.

You can also contact Remitly’s customer support team directly with your transaction reference number for assistance. Upon successful cancellation, the funds will be refunded to your original payment method.

Important Note on Fee Refunds Please note that in some cases, fees may not be refunded. For example, if your transaction fails due to insufficient bank account funds, or you cancel a transfer that enjoyed a promotional offer, the related fee waiver or refund may be voided.

In summary, sending money to the Philippines via Remitly is an efficient and transparent option. It has earned a 4/5 rating on Trustpilot, proving its competitiveness in the market. To optimize costs, follow these core suggestions.

Cost Optimization Advice:

• New users: Be sure to use your first-transfer promotion.
• Existing users: Balance “Economy” and “Express” services based on urgency and save more through the referral program.

Now, you can use the information in this article to choose the best option for your next Remitly transfer to the Philippines.

FAQ

Is Remitly safe?

Remitly is a regulated financial service company that uses advanced encryption to protect your personal information and funds. You can rest assured that every transfer is under strict security monitoring.

How long does a transfer take?

Transfer speed depends on the chosen service.

• Express service usually arrives within minutes.
• Economy service takes 3 to 5 business days.

What if I enter wrong recipient information?

If funds haven’t been collected, you can immediately log into your account to edit details or cancel the transfer. If the transaction is complete, contact Remitly support as soon as possible—they will guide you through next steps.

How do I track my transfer?

You can track your transfer status anytime via Remitly’s website or app. After logging in, find the transaction in “Transfer History” to view progress from sending to receipt.