Using a digital money transfer provider, not only could you up to 95% in fees compared to the bank, but you'll also be able to send money more quickly to your beneficiary's account at Metrobank. At Monito, we analyzed the cost of sending money with around 50 major banks in eight countries around the world, and we can confidently say that we don't recommend using your bank to send money to the Philippines.Īdditionally, bank transfers via the SWIFT network tend to take quite long (between one and five business days on average), meaning they're not a good option if you want to make a speedy transfer.įortunately for you, much smarter alternatives exist. This is because fixed international bank transfer fees, bad exchange rates, and correspondent banking fees can stack up very quickly. ![]() If you're sending money internationally to a Metrobank account in the Philippines through your local bank, the transaction will likely be much pricier than it ought to be.
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