How to send money to Nigeria from Philippines with the best PHP-NGN rate

Always compare ways to send money from the Philippines to Nigeria to get the best options for fees, speed, and reliability.

Our analysis included 5 providers that operate between Philippines and Nigeria.

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

The exchange rate determines how many PHP the recipient will get in Nigeria when you send Philippine Peso.

Today, the average exchange rate between Philippine Peso and Naira is 22.2508.

Overall, the company offering the best exchange rate is Wise. It is 0% cheaper than the next best option.

In many cases, the rate won't change based on the deposit method; however, sometimes it can:

The PHP-NGN rate fluctuates constantly, so waiting a day or two can help you get more NGN for the same amount of PHP.

A bank transfer is the most cost-effective option for sending money from the Philippines to Nigeria. The company offering the best bank transfer price is Wise.

This is 1.19% cheaper than the second-best option in the market.

Avoid using debit card deposits, as it is the most expensive deposit option.

Always choose providers that are regulated by financial authorities to ensure funds are safe when transferring from Philippines to Nigeria.

If you don’t know what the key regulatory bodies for money transfers are between the Philippines and Nigeria, please refer to our directory of financial regulators worldwide.

Some services have limits on how much you can transfer from the Philippines to Nigeria. This applies when receiving money in Nigeria as well.

Different companies will offer different rates or lower fees for different transfer amounts.

For example, we recommend using Wise if you need to send large amounts of PHP to Nigeria.

This being said, always check with the recipient and understand any declarations needed on large amounts of money leaving the Philippines, or entering Nigeria.

There are different ways to receive money in Nigeria. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account.

If you (or the recipient) want a direct transfer to your bank account, Wise is the best money transfer company for bank transfers between Philippines and Nigeria.

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

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 Wise.

When you're sending or receiving money between the Philippines and Nigeria, you have to be ready to show some ID.

The exact documents you need might vary. Usually in the Philippines this will be a government ID like a passport or driver's license. This will be similar if you need to open an account or collect cash in Nigeria.

If you're making a big transaction between the Philippines and Nigeria, a provider may ask you for proof of address or may want to know where your money comes from.

Wise is a great option for sending from the Philippines as the sign up process is pretty straightforward, even for larger transactions.

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

Some PHP-NGN transfers may need to be reported to tax authorities, particularly where inheritance or property sales are involved.

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