Cheapest way to send money from Canada to the Philippines

FXMetrics editorial team · Updated · How we calculate

Canadian banks usually charge a fixed fee and add a markup to the rate. Below: what your recipient actually gets for 1,000 CAD, at today's mid-market rate.

Loading today's mid-market rate…

ProviderRecipient getsTotal costSpeedSite

Mid-market rates from the European Central Bank (via the Frankfurter API); currencies the ECB does not cover use ExchangeRate-API. Provider fees and markups are estimates from public pricing; always check the final quote. Methodology · Share this result

Payout options
Bank deposit, GCash, Maya and cash pickup
Typical speed
Minutes to 2 business days (digital); 2–5 business days (bank wire)
Regulation in Canada
Registered with FINTRAC
Rate benchmark
ECB reference rate

Who sends money from Canada to the Philippines

Common senders: international students, new permanent residents and temporary foreign workers.

About this corridor

Canada has a large Filipino community, many of whom arrived through the caregiver programs and now work in healthcare and services. Families in the Philippines often receive into GCash or a BDO or BPI account; if your relatives live far from a branch, e-wallet delivery is usually more convenient than cash pickup.

Worked example: sending 1,000 CAD

Using the ECB reference rate on 2026-10-07, 1 CAD = 44.0670 PHP, our estimate model gives these results for sending 1,000 CAD:

ProviderEst. feeEst. receivedTotal cost vs mid-market
Wise7.43 CAD43,739.79 PHP327.21 PHP
Revolut3.00 CAD43,715.13 PHP351.87 PHP
Remitly0.00 CAD43,538.20 PHP528.80 PHP
Western Union7.13 CAD42,877.89 PHP1,189.11 PHP
Bank wire (typical)28.51 CAD41,740.53 PHP2,326.47 PHP

In this example Wise delivers roughly 1,999.26 PHP more than a typical bank wire. Rates move daily and providers change pricing, so treat this as an illustration from our model; the live calculator above and the provider's own quote are what count. See how we estimate.

Sending to the Philippines: what to know

  • Payout options: bank deposit, GCash, Maya and cash pickup.
  • GCash and cash pickup are popular for families outside major cities.
  • Cash pickup is convenient but often carries a worse rate than bank or e-wallet delivery.

Rules and limits

In Canada: Money services businesses must be registered with FINTRAC, and providers report international electronic funds transfers of CAD 10,000 or more, including several smaller transfers by or for the same person that add up to CAD 10,000 within 24 hours.

In the Philippines: Banks and e-money issuers are supervised by the Bangko Sentral ng Pilipinas (BSP). E-wallets have balance and monthly incoming limits that rise with full verification, so large amounts are better sent to a bank account.

How to pick the cheapest option

  1. Compare the amount received, not the fee. "Zero fee" offers usually hide their cost in the rate. How markups work.
  2. Small amounts: watch fixed fees. Large amounts: watch the markup.
  3. Avoid intermediary deductions. SWIFT wires can lose $10–30 in transit. Why.

Frequently asked questions

What is the cheapest way to send money from Canada to the Philippines?

It depends on the amount and the day's pricing. This page calculates, at today's mid-market rate, how much PHP each provider delivers for 1,000 CAD; the top row is currently the cheapest by our estimate.

How much more does a bank wire cost for 1,000 CAD?

Using the reference rate on 2026-10-07, our model puts the gap at about 1,999.26 PHP versus the cheapest option. Rates and pricing change daily.

How can my recipient in the Philippines receive the money?

Common payout options are bank deposit, GCash, Maya and cash pickup. Availability differs by provider, so check before you send.

How long does it take?

Digital services usually take minutes to 1–2 business days; bank wires often take 2–5 business days.

Sources

Official pages checked on