Compare money transfers from the Philippines to Japan

Transferring money from the Philippines to Japan

Maybe you live or work in the Philippines, but need to get your money to Japan. You might be a Japanese citizen working abroad, or a Filipino with a child attending a school in Japan. Maybe you just want to visit, or maybe you’re planning to move there. Whatever the reason, you’re in luck. The internet and countless online services, have made it easy to convert currencies and send money via an e-transfer.

This is not the answer: paying your bank hefty fees for a wire transfer. But you’re lucky. There are countless other, electronic and online options, some of which tie into your bank account, others of which use credit cards to make an e-transfer. Read on to find the best way to send money from the Philippines to Japan.

Sending money from the Philippines to Japan

The currency of the Philippines is the Philippine peso (PHP), and in Japan, it’s the Japanese yen (JPY). 1 PHP is 2.13 JPY as of writing, i.e. one Japanese yen is a little less than half a peso.

The advantage with both of these currencies is that they are major enough that some online services, such as Transferwise, allow you to convert directly from PHP to JPY. This eliminates the need for a middleman, and reduces the amount you pay in commissions, or for sub-optimal conversion rates.

While it may sound tempting to do this, another option is to convert your PHP first into a more global currency, like euros or USD. You can do this if you don’t trust keeping your money as PHP. However, the Philippine peso is a stable currency, and over the past five years it hasn’t changed much against the dollar. Against the Euro, it lost some value but then got most of it back. Decide if you want USD or dollars (which may involve extra commission fees) or if you’re okay holding onto PHP until you’re ready to convert them.

How to send the money

To send money from the Philippines to Japan, you can use a long list of online services and make an e-transfer. Transferwise allows you to directly convert PHP to JPY. Their rates are close to market, and they charge only a small commission.

Other options for an e-transfer are InstaREM or Xoom. However, you can’t convert directly from PHP to JPY with these sites. You’ll have to first change your money into something like euros, or U.S., Canadian, or Singapore dollars.

How much does it cost?

Whenever you convert, or send money, there will be fees. Often, these commissions are very small, but many services (such as Transferwise) charge it as a percent of the amount that you’re transferring. This means that if you send a lot of money, you can pay a big commission. (If you’re sending a million Philippine pesos, a 1% commission would be 10,000 pesos, or – as of writing – about 21,000 yen!)

And here’s why we’re the best option!

We can help you convert your PHP into JPY – even if a lot of online services don’t offer this option. We understand that the Philippine peso is a stable currency and we aren’t afraid to deal with it. Furthermore, we’re familiar with the Japanese yen. If you need to send money from the Philippines to Japan, we’re right here for you! Contact us and speak to our representatives today.