Updated April 28, 2024
If you’re sending from a US account through XOOM, the best way is to have your recipient in the Philippines receive it in US dollars at Cash Pickup, or receive it through a US dollar account.
This way, your recipient can get their dollars and exchange it at banks or money changers that give the highest exchange rates, like Eastwest Bank, Czarina, Sanry’s, or their favorite money changer in their local area.
It is not advisable to send US dollars to a Philippine peso account. Even if the remittance fee is fair, the exchange rate used by the local bank is not favorable to the recipient. The local bank will earn money from the exchange rate.
If you prefer sending to a local peso account, due to certain reasons, use WISE. The exchange rate is favorable, if not the most favorable among global remitters. See more info about WISE here.
Here’s a list of Philippine banks and remittance services that processes Xoom remittances. You can send money online through Xoom using your credit card, debit card or your U.S. bank account.
Peso remittances may be picked up at:
- BDO
- Metrobank
- M. Lhuillier
- Cebuana Lhuillier
- Customer Service Centers at SM Malls
- One Network Bank
U.S. dollar remittances may be picked up at:
- BDO
- Metrobank
You may deposit to your or your recipients’ savings accounts or checking accounts at these Philippine banks. It can be a Peso account or a U.S. dollar account.
ABN Amro Bank
Active Bank
Allied Bank
Asian Bank
AsiaTrust
Asia United Bank
Banco de Oro
Banco Filipino
Banco San Juan
Bank of Commerce
Bank of the Philippine Islands
BPI Family Savings Bank
Centennial Savings Bank
China Banking Corp
ChinaTrust
Citibank
Citibank Savings
CityState Bank
Citystate Savings Bank
Development Bank of the Philippines
East West Bank
Ecology Savings Bank
Equitable PCI Bank
Equitable Savings Bank
Export Industry Bank
First Allied Bank
First E-Bank
GSIS Family Thrifty Bank
HSBC
HSBC Savings Bank
Insular Bank
International Exchange Bank
Keppel Bank
Land Bank of the Philippines
LBC Bank
Luzon Development Bank
Malayan Bank
Manila Bank
Maybank
Merchants Bank
Metrobank
Opportunity Microfinance Bank
PBCom
Penbank
Philam Bank
Philippine Banking Corporation
Philippine National Bank
Philippine Savings Bank
Philippine Trust Company
Philippine Veterans Bank
PhilTrust Bank
Planters Bank
Postal Bank
Premiere Bank
Prudential Bank
RCBC
RCBC Savings Bank
Real Bank
Robinsons Bank
Sarangani Bank
Security Bank
Standard Chartered
Summit Bank
Traders Royal Bank
UCPB Savings
Union Bank
United Coconut Planters Bank
United Overseas Bank
Veterans Bank
Westmont Bank
World Partners Bank
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List of BDO Remittance Partners in London, England, Other Cities
Savings Accounts in the Philippines with the Lowest Maintaining Balances