How to send money to Philippines from Malaysia with the best MYR-PHP rate

Comparing providers when sending money from Malaysia to the Philippines is the easiest way to make a transfer at the best price.

Right now, for MYR/PHP

• Wise is our recommended company for transferring Malaysian Ringgit to the Philippines. Sending 31,525 MYR to PHP will cost you RM279.4 in fees, and you will receive 462,306.77 PHP. The delivery time is next day, but it depends on the day you make the transfer.

• If you want to secure the best rates on a MYR to Philippines transfer, Wise is the cheapest way to send money and will result in the most Philippine Peso received.

• Fastest way to send money from Malaysia to the Philippines is via Xe. Based on a RM31,525 transfer, Xe transfer time for MYR-PHP transfers is minutes - 24 hours.

We’ve compared 3 providers for sending Malaysian Ringgit to Philippines. This ensures you will get the best options for your transfer to the Philippines from Malaysia.

The exchange rate determines the price you will pay when buying Philippine Peso.

A better exchange rate and lower fees means more money being sent to Philippines.

The total cost of sending money to the Philippines from Malaysia, is made-up of a combination of fees and exchange rates. Sending with a company that can offer a good deal on both ensures a good deal on your transfer.

• The Mid-Market and Exchange Rates: Currently, the mid-market for MYR-PHP is 14.8414 PHP per Malaysian Ringgit.

• Fees: Transfer fees may have to be paid alongside the transfer, either as a set fee or a percentage of the transfer. Wise has a fee of 279.4 MYR per transfer (which is the cheapest option right now for a RM31,525 transfer). Although you should search for your send amount to get live deals and lowest fees.

• Amount Received: Money transfer companies will show you the amount of Philippine Peso eventually received in the Philippines.

If you are paying for services in Philippine Peso from Malaysia, this can make a huge difference.

Understanding the averages, and then waiting a day or two can help you get more PHP for the same amount of Malaysian Ringgit.

You can also use a forward contract to lock in an agreed exchange rate between Malaysia and the Philippines.

Using a bank transfer to send via money transfer company is the payment method that will get you the best price when sending from Malaysia to the Philippines.

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

Bank transfers

Bank transfers are often the fastest and cheapest way to send money from Malaysia to the Philippines.

Using a money transfer company such as Wise for payments from Malaysia to the Philippines, means you can send via a bank transfer and benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money with a debit card from Malaysia to the Philippines is easy with .


is a leader in debit card money transfers from Malaysia to the Philippines. They are the best option of the 3 transfer companies compared.

Credit cards

Not many money transfer companies offer direct credit card deposits, because it is more expensive for everyone.

We recommend using a bank transfer or a debit card transfer if you can; otherwise, make a quick comparison to find the latest deal.

Ensuring you fully understand regulations in Malaysia and the Philippines will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for sending money between Malaysia and the Philippines.

Some companies offering money transfers between Malaysia and the Philippines have minimum or maximum thresholds on how much you can send or receive.

Rates and fees for different transfer amounts could change - that’s why it’s best to compare MYR-PHP rates for your specific transfer amount.

For regular transfers to the Philippines, shopping around each time can make a huge difference.

For sending large amounts of MYR to Philippines we'd recommend using Wise. They offer a combination of rates and fees when sending from Malaysia to the Philippines that is the most competitive, even at larger amounts.

There are different options for receiving Philippine Peso in the Philippines.

The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all companies offering transfers from Malaysia to the Philippines will offer every method for incoming Philippine Peso, so it’s best to check ahead of time.

Again, a comparison of MYR to PHP providers will tell you if the method for receiving is supported.

One of the most common ways to transfer money from Malaysia into the Philippines is by sending directly to a bank account. Wise is the best company for bank transfers between Malaysia and the Philippines.

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

P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience but are better for domestic transfers. For receiving international payments they come with more limitations and higher costs compared to money transfer options like multi-currency accounts.

If using a money transfer company to send Philippine Pesos to the Philippines, you will need to verify your ID at the sign up stage.

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

ID can be verified in Malaysia through a government issued ID such as a passport or driver's license.

If the recipient needs an ID to collect money in the Philippines, it will be similar.

Large transactions between Malaysia and Philippines, can be subject to additional checks. This includes proof of funds for anti-money laundering purposes.

One of the reasons Wise has scored so highly for transfers to the Philippines is their easy sign up process in Malaysia.

Sending regular, or larger amounts of money between Malaysia and Philippines could mean there are tax declarations 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.

The Philippines has many different tax obligations for residents and non-residents.

When in doubt, please contact a tax professional in Malaysia or the Philippines to discuss your personal circumstances. This ensures you are not missing any specific tax needs associated with your transfer.