7.22.2011

Money Transfer Rates for Japan-Philippines Remittance

By Nora
For a remittance amount of US$500, money transfer fees for Japan-to-Philippines remittance ranged from $18 to $48 on January 24, 2011, the most recent day that the World Bank conducted a survey of remittance rates for the Japan-Philippines corridor.

The money transfer rates included:
- the remittance fee
- and the foreign exchange rate margin.

Remittance fees only (without foreign exchange rate margins) ranged from $17.65 to $47.06.

The ones charging the lowest on this date were:
- SBI Remit
- MoneyGram
- Western Union
- Lloyds Remittance Service

The ones charging moderate rates on this date were:
- Metrobank
- SBI Remit
- Money Gram
- Philippine National Bank

The ones charging the highest on this date were:

- Japan Post Bank
- Citibank

* You can see that some SBI Remit and MoneyGram locations charge higher rates.

Those that transferred money on this date within one hour were:
- Moneygram
- Western Union

Those that delivered within the day were:
- Metrobank
- Philippine National Bank

Delivery the next day:
- SBI Remit

Delivery within 3 to 5 days:
- Lloyds Remittance Service
- Metrobank (deposited to account in another bank)
- Philippine National Bank (deposited to account in another bank)

Delivery within 6 days or more:
- Citibank
- Japan Post Bank

*Not all money transfer or remittance services are included in World Bank studies.

Related Articles:
Metrobank and PNB remittance locations in Japan
Western Union locations in Narita, Japan
Western Union locations in Miyagi, Japan

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