How to send money to Philippines from Germany with the best EUR-PHP rate

Comparing based on your specific needs is the best way to send money from Germany to the Philippines with confidence.

For EUR/PHP

• Wise is our top pick for sending Euro to Philippines. For example, sending 7,000 EUR to PHP will cost you €51 in fees, and you will receive 486,348.7 PHP.

• We would recommend TorFx for low cost, affordable transfers from Philippine Pesos to Philippines. We found that TorFx is 0.04% cheaper than the second-best option. The cost is a combination of a fee of 0 EUR and an exchange rate for converting Euro to Philippine Peso that is 0.3% different to the mid-market rate.

• Fastest way to send money to the Philippines from Germany is with Taptap Send. For example, if you send 7,000 EUR with Taptap Send to Philippines, the transfer time is minutes based on our data.

Our analysis, and search results, include 11 providers that operate between Germany and the Philippines. These are ranked by speed, overall cost and ease of use.

Through this, you get a comprehensive view of all the options you have in Germany when you need to send money to the Philippines.

The exchange rate determines the price you’ll pay for Philippine Peso when you send Euro to the Philippines.

The current exchange rate between the Euro and Philippine Peso is 69.925, and it constantly fluctuates.

When calculating the cost of sending money from Germany to the Philippines, a combination of fees and exchange rates ensure the best deal:

• The Mid-Market and Exchange Rates: The current EUR-PHP mid-market rate is 69.925 PHP per Euro. Finding a provider as close to this number as possible will ensure more Philippine Peso for your money.

• Fees: Transfer fees are charged on top of a transfer. TorFx currently offers the lowest fees of 0 EUR per transfer (based on €7,000 transfer). Although, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The total amount received in Philippine Peso is the biggest indicator in the total cost of sending money to Germany from the Philippines. The higher the total amount received in the Philippines, the lower the cost of sending from Germany.

It’s possible that waiting a day or two can help you get more PHP for the same amount of Euro. But, the best way to lock in a price between Germany and the Philippines is by using a forward contract.

A bank transfer is our recommended option for money transfers between Germany and the Philippines. TorFx offers the best price on a bank transfer.

Here are all the ways to send money from Germany to Philippines:

Bank transfers

Bank transfers are often the best payment method for money transfers from Germany to the Philippines.

A money transfer company like TorFx offer bank transfers between Germany and the Philippines with lower fees and better exchange rates than you would get from a traditional bank.

On average, TorFx is the cheapest provider for bank transfers of the 11 we tested when sending EUR to the Philippines.

Debit and prepaid cards

Sending money from Germany to the Philippines with a debit or a prepaid card is very simple with Wise.


Wise is a leader in debit card payments for transfers from Germany to the Philippines, competing among a total of 11 active money transfer companies on this route.

Credit cards

We recommend avoiding credit cards where possible due to a lack of support and high fees.

If you have to use a credit card, we recommend comparing your options to find the company with the lowest fees.

Always choose providers that are regulated by financial authorities in both Germany and Philippines to ensure funds are protected.

Please refer to our directory of financial regulators worldwide for key regulatory bodies for money transfers between Germany and the Philippines.

Some services have minimum or maximum thresholds on how much you can transfer from Germany to the Philippines.

Companies will offer different rates and fees for different transfer amounts. Some companies will become more expensive after certain thresholds are hit.

We’d recommend using Wise if you need to send large amounts of EUR to Philippines. The combination of rates and fees when sending to the Philippines is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving Germany, or entering the Philippines. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Philippines. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account. It’s likely not all providers serving transfers from Germany to the Philippines will offer every method, so it’s best to check ahead of time.

A direct transfer to a bank account is one of the more common ways to transfer from Germany into Philippine Peso. Wise is the best company for bank transfers between Germany and Philippines.

And if you need cash right away, check if cash pickup is an option for transfers between Germany and the Philippines.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like TorFx.

When signing up to a money transfer company to send between Germany and the Philippines, you will need to verify your ID.

The exact documents you need might vary and in some cases you will need more than one.

For the most part, in Germany this will be a government ID like a passport or driver's license. In the Philippines it will be a similar set of documents, although this should only be needed if you are opening a new account in the Philippines, or collecting in cash.

Big transactions between Germany and the Philippines, are subject to additional checks. A provider may ask you for proof of address or may want to know where the money comes from.

We recommend Wise in part due to their easy sign up process in Germany.

When sending large amounts of money between Germany and the Philippines there will be tax implications to consider.

Some transfers into Philippine Peso may need to be reported to tax authorities in the Philippines, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances differ in the Philippines based on age, income and a few other elements. When in doubt, please contact a tax professional in Germany or the Philippines to discuss your personal circumstances.