Rules, Regulations, and Tips
Sending Money to the Philippines
5 August 2025
In this article we take a closer look at the rules, regulations, and best practices you should know when you send money to the Philippines, especially if you’re located in the United States or Canada.
Why Regulations Matter When You Send Money to the Philippines
When you send money to the Philippines from North America, your transactions are governed by a mix of domestic financial regulations and Philippine remittance laws. These rules are designed to ensure transparency, prevent fraud, and protect both the sender and receiver.
Key Regulatory Considerations:
Transaction Limits
- In Canada, remittance services must report transactions over CAD 10,000 to FINTRAC the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
- In the United States, any amount over USD 10,000 triggers a similar report to the Financial Crimes Enforcement Network (FinCEN).
- Frequent smaller transactions may also be flagged if they appear structured to avoid reporting thresholds.
Know Your Customer (KYC) Requirements
When using services to send money to the Philippines, especially through licensed money transfer apps, you’ll be asked to verify your identity. This usually involves submitting a government-issued ID, address verification, and in some cases, the source of funds.
Exchange Rate Transparency
Philippine regulations require that the exchange rate used for remittances be made clear to the sender. Reputable providers like OTT Remit display rates in real-time, with no hidden fees.
Licensed Providers Only
The Bangko Sentral ng Pilipinas (BSP) mandates that all remittance recipients in the Philippines only accept transfers from BSP-accredited and licensed remittance partners. Always choose registered providers to avoid transaction issues or delays.
Tips for Sending Money to the Philippines More Effectively
Beyond compliance, strategy matters when choosing how and when to send money to the Philippines. Here are some tips to get the most value out of your remittance:
Time Your Transfers for Better Exchange Rates
- Exchange rates fluctuate. Use a remittance app like OTT Remit, which allows you to monitor real-time rates and choose the optimal time to transfer.
- Typically, rates are better mid-week, and you may want to avoid sending during holidays or weekends when volatility is high.
Use Digital Platforms for Convenience and Savings
- Traditional wire transfers can take several days and may charge both sender and recipient.
- Apps like OTT Remit offer faster, lower-cost options with 24/7 access and tracking.
Watch for Seasonal Promos
- Many providers run seasonal promotions, especially around Philippine holidays like Christmas, Mother’s Day, or Fiesta months.
- These promotions may offer zero fees, improved exchange rates, or bonus incentives.
Consider Recipient Preferences
- You can send money to the Philippines through bank deposits, cash pick-ups, mobile wallets, or door-to-door delivery.
- OTT Remit supports multiple disbursement options, making it easier to tailor your transfers to what’s most convenient for your family.
Why Use OTT Remit to Send Money to the Philippines
OTT Remit simplifies the entire process of sending money to the Philippines. Here’s why it stands out:
- Fully Licensed in Canada and Partnered in the Philippines
- Real-Time Exchange Rates and Transparent Fees
- User-Friendly Mobile App available on iOS and Android
- 24/7 Support and multilingual customer service
- Secure Transactions with end-to-end encryption and KYC compliance
Whether you’re sending a small amount weekly or a larger sum monthly, OTT Remit ensures peace of mind, speed, and security.
Send Money to the Philippines with Confidence
When you send money to the Philippines, it’s not just about the transaction — it’s about trust, timing, and transparency. By staying informed about the rules and choosing reliable platforms like OTT Remit, you ensure your support reaches your loved ones smoothly and securely.
For those in North America, understanding your local regulations and choosing the right sending method can save you time, money, and unnecessary stress.
Ready to Send Money to the Philippines?
Download the OTT Remit app today and experience a better, faster, and safer way to support your loved ones back home.
Disclaimer: The views and opinions expressed by the authors in this publication are their own and do not necessarily reflect the views of OTT Remit, OTT Financial Inc., and the OTT Group of Companies. This publication is provided for general information purposes only and should not be considered as exhaustive or comprehensive in covering all aspects of the discussed topics. It is not intended to replace seeking advice from a specialist or professional.
How To Send Money with OTT Remit
Follow three simple steps to send money quickly and securely to loved ones anywhere in the world.
Sign up for an account
Enter your name and phone number to create an account with OTT Remit.
Enter money transfer details
Choose your destination country and select one of three remittance methods: Cash Pickup, Mobile Wallet, or Bank Deposit. Enter your recipient's information.
Pay for your transfer
Complete your remittance by making an INTERAC e-Transfer. It's that easy!
