How to transfer large amounts of money to the Philippines from the UK

Need to send a large payment from the UK to the Philippines from the UK?

Perhaps you’re sending the deposit for a holiday home you’re buying, or have bills to pay for a property you already own there. Or maybe you’re moving to the Philippines soon, and want to transfer money to a local bank account ready for your arrival.

Whatever your plans, you’ll need to know the best way to make secure, cost-effective large transfers to the Philippines from the UK. We’re here to help, with a step-by-step guide on how to do it.

We’ll also look at fees, exchange rates, limits and everything else you need to know. With our help, you can set up your transfer to the Philippines in complete confidence.

If you’re looking for a reliable and cost-effective way to transfer large sums to the Philippines, consider the money services provider Wise. With low, transparent fees*, great mid-market exchange rates, and secure, trackable transfers, Wise makes international money transfers simple and stress-free. Plus, you’ll receive dedicated support when sending large amounts.

Get expert support for your large transfer 📞

You can currently send up to 9 million PHP per transfer to a bank account with Wise.

How to transfer large amounts of money to the Philippines from the UK

There are two main options for sending large payments overseas from the UK - use your bank, or use a specialist international money transfer service.

Whichever option you choose, the process is likely to be similar. Let’s run through the main steps involved.

1. Get your recipient details together

The first step is to gather the required information for your recipient. Here’s what you’re likely to need:

• The recipient’s full name and address (this can be your own name if you’re sending money to your own local bank account)
• Their International Bank Account Number (IBAN) or bank account number - this is known as a Bank Routing Symbol Transit Number (BRSTN) in the Philippines
• The name and address of the Philippines bank
• Their bank’s BIC or SWIFT number.

2. Check the fees and exchange rates

If you’re using a money transfer service, you should be able to check the details of your payment before you send. You can enter the amount, currency and destination, and instantly see what fees you’ll pay and what exchange rate you’ll get.

It can be a little more complicated, and possibly less transparent, to see the exact fees if you’re sending your transfer with a bank.

Some banks may offer a similar transfer calculator in your online banking, but you may need to check the fees list for your account - and then contact the bank to find out about exchange rates (they may also have a page on their website with the latest rates).

You can use this information to compare banks and providers, to get the best deal on your transfer.

3. Set up your payment

Once you’ve chosen a transfer method, it’s time to set up your payment. In most cases, you should be able to do it online.

If you’re sending a very large amount though, you may come up against your bank’s online transfer limits.

For example, Barclays lets you send a maximum of £50,000 online from personal accounts.¹ If you need to send more than this, you may need to visit a branch in person. Just make sure to take some photo ID, along with the details for your transfer.

If you’re sending a payment online, you’ll simply need to follow the on-screen steps and enter the details of the transfer when prompted. This includes:

• The recipient’s details, including all their bank details
• The amount you want to send
• The destination and currency.

You may also be asked about who will be paying the fees. Banks often give you three options - either the sender pays all the charges (OUR), the recipient pays/the amount will be deducted from the payment itself (BEN), or you share the charges between sender and recipient (SHA).

With a money transfer service, you’ll usually have to create an account and link it with your bank account or debit card. You may need to top your account up with funds before you can set up a payment.

Once you’ve checked all the details carefully, you can confirm and send the payment on its way.

Sending money to yourself? If you need to transfer money from your UK account to a Philippines bank account in your name, you’ll need to follow the same process as above - just like with any other recipient.

You might find it easier though if the bank is the same in both countries. For example, if you bank with HSBC in both the UK and the Philippines (it operates in both countries), you can use the bank’s online Global Transfers service to move money between your accounts for free.²

How much money can you send to the Philippines from the UK?

Your bank is likely to have daily limits on how much money you can send via online banking. If you need to send a larger sum than these limits allow, you can usually do this by visiting a branch in person.

Limits for money transfer services vary depending on the provider and the country.

For example, you can send up to 9 million PHP per transfer online from the UK with Wise, splitting larger payments into multiple transfers if you need to.³

How long does it take to send large transfers to the Philippines?

When you send money to the Philippines using your UK bank account, your transfer will be sent via the SWIFT network. This means it can take anywhere from 1 to 4 days, although it could be quicker or slower than this.

It’s usually much faster with money transfer services, often only taking a day or two.

📚 Read more: How long do international bank transfers from the UK take?

Is it safe to transfer large amounts of money to the Philippines?

If you use a registered UK bank or a regulated, reputable money transfer service, it should be safe to send money to the Philippines - even for large transfers.

It’s also a good idea to take common sense precautions to protect yourself and your money. This includes:

• Avoiding sending money to people you don’t know
• Checking recipient bank details very carefully when entering them.
• Taking time to research the transfer provider, to make sure they’re legit
• Being extra vigilant against scams, especially when you feel pressured into sending an urgent transfer or you’re dealing with someone you don’t know.

Fees and charges for transferring large amounts to the Philippines

There will nearly always be fees for sending an international transfer, whether you use a bank or a money transfer service.

Let’s take a look at the kinds of charges you can expect when making a transfer to the Philippines from the UK.

Upfront transfer fee

Both banks and specialist transfer services tend to charge international transfer fees. These may be a fixed amount (which is usually the case with banks) or vary depending on the destination, currency and amount.

You can pay this fee separately, or add it to the amount you’re sending.

Correspondent/receiving bank fees

When you send money with a bank, it will be sent via SWIFT. This is a network of worldwide banks which communicate with each other to send and receive transfers.

But SWIFT transfers don’t always go straight from A to B. In fact, it’s likely that multiple banks will be involved along the way, and they may each charge their own fee. There may also be fees from the bank receiving the transfer over in the Philippines.

You’ll need to ask your bank about these correspondent/receiving bank fees, as info may not be available upfront.

GBP- PHP exchange rate

Alongside money transfer fees, you also need to factor in the exchange rate for converting your British pounds (GBP) to Philippines pesos (PHP).

Money transfer services usually show you the rate you’ll get before you send, while with banks you may need to check in your online banking or on the bank’s website.

How do you know you’re getting a good deal? Always compare the rate you’re offered to the mid-market exchange rate, to see how much of a markup the bank or provider has added on top.

Is it a good time to transfer GBP to PHP?

Exchange rates fluctuate all the time, so timing is key to getting the best possible rate on your transfer from the UK to the Philippines.

To find the perfect time to send your transfer, you can sign up for exchange rate alerts.

Wise – A low-cost alternative for large transfers

Looking for a secure, convenient and low-cost way to send large sums of money to the Philippines? Take a look at the Wise account from the money services provider Wise. It's not a bank account but offers some similar features and your money is safeguarded.

With Wise, you can send large amount transfers worldwide to 140+ countries for low, transparent fees* and you’re guaranteed the mid-market exchange rate with no markup.

Here’s an overview of the main benefits of using Wise:

Fast and easy setup with no physical paperwork Send up to 9 million PHP per transfer from the UK Low, upfront, transparent fees* and the mid-market exchange rates Dedicated support for large transfers Sophisticated security and anti-fraud measures, with your money safeguarded under regulatory protections Trackable and fast transfers to 140+ countries Low-cost spending in 150+ countries with the Wise card Earn a return on your GBP, USD and EUR balance with Wise Interest**

Sign up with Wise today 💰

**Capital at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

Wise Interest isn’t currently available to use with a Philippines address.

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Sources used:

1. Barclays - Daily payments limits in the app
2. HSBC - Global View and Global Transfers
3. Wise - Guide to PHP transfers

Sources last checked on date: 25-Feb-2025