Your guide to sending money from Toronto with Philippines National Bank

Philippines National Bank (PNB)® is a popular option if you want to send money from Toronto to your friends and family in the Philippines.

We’ll take a look at how to send money from Toronto to the Philippines with PNB, including common alternatives for foreign transfers.

We’ll also take a look at Wise, your international money transfer alternative. Everything you need to send money overseas!

We'll look at:

How to send money to your loved ones in the Philippines with PNB Over-the-counter Email Money Transfer Remit by mail What are the fees and transfer limits when sending money with PNB? Fees and charges Transfer limits How long does it take to send money to the Philippines with PNB? Alternative ways to send money from Canada to the Philippines Sending money to the Philippines from a Canadian bank Online money transfer providers in the Philippines International money order

How to send money to your loved ones in the Philippines with PNB

There are a few different ways to send money to the Philippines with PNB, including:

• over-the-counter payments
• Email Money Transfers (EMT)
• remit by mail¹

You can also send money to the Philippines by Rapid Remit, PNB Cash Pickup, cash/cheque door-to-door remittance, Overseas Bills Payment System (OBPS) and by credit to other banks.²

Let’s take a look at how to send money with PNB over the counter, by email or by mail.

Over-the-counter

Visit a PNB branch to send funds to your recipient in person. We’ve put together a step-by-step guide to completing your transfer.

Step 1. Head to your local branch or agent location

Step 2. Choose the service you need and fill out the remittance application form. You need to present a valid form of identification

Step 3. Pay for your transfer by cash, debit card or cheque

Accepted ID documents:

• Driver’s license
• Passport
• Citizenship card
• Permanent resident card

If you’re based in Ontario, you can’t use your Ontario Health card or OHIP as identification.¹

Email Money Transfer

You can use an EMT to send money from your personal account to a PNB bank account. We’ve put together a guide to sending your money by email.

Step 1. Log into your online banking account. Select “Transfers” and “Interac e Transfer®”

Step 2. Add your recipient. Under “Name”, type “PNB Global Remit” and under “Email address”, type “EMT@pnbrcc.com”

Step 3. Enter your transfer amount and choose a security question and answer. You need to fill out your recipient’s details

Step 4. Select “Send” to submit your payment

If this is your first transfer, you need to submit a valid form of identification, as seen earlier.

Remit by mail

You can send up to 1000 CAD from Toronto to the Philippines by mail. Let’s take a look at how to complete your order.

Step 1. Download a mail remittance form from the PNB website

Step 2. Fill out your form and mail it to PNB. You need to include a copy of your government identification and a cheque payable to PNB Remittance Co. Canada

What are the fees and transfer limits when sending money with PNB?

There are a few fees and transfer limits to consider before sending your money to the Philippines. Let’s take a closer look.

Fees and charges

Your fees will depend on the type and size of your transfer.

For example, Interac or cheque payments to PNB accounts up to 3000 CAD cost 11 CAD, whereas payments to other local banks may cost 12 CAD.³

If you want to send cash, you’ll need to pay 13 CAD to credit a PNB account and 14 CAD to send money to a different local bank. It costs 12 CAD to send an EMT to a PNB account.³

You need to consider the exchange rate used for your transfer. Many banks add a markup to the mid-market exchange rate, which increases the cost of your transaction.

All listed PNB rates are in US dollars. As of 4 June 2024 at 05:01 EDT, PNB buys Canadian dollars for 0.7238 USD and sells them for 0.7382 USD.⁴

This means there’s a small difference between the buy and sell rates, with a slight margin compared to the mid-market exchange rate.

Transfer limits

You can’t send more than 2500 CAD by cash with PNB, and you can only send up to 1000 CAD by email.

You need to discuss cheque payments over 20,000 CAD with your local branch.³

How long does it take to send money to the Philippines with PNB?

The amount of time it takes to send your transfer can depend on the method you use, and when you send your payment.

If you want to send an EMT to the Philippines, for example, your recipient should receive their funds immediately.

However, if you send your transfer on the weekend , on holidays or Fridays after 6pm EST, you need to allow 1 to 2 business days.¹

Alternative ways to send money from Canada to the Philippines

There are a few other ways to send your money overseas to the Philippines. Let’s take a look.

Sending money to the Philippines from a Canadian bank

Banks like TD Bank®, RBC® and CIBC® are known for their international money services from Canada to the Philippines.

TD Bank offers currency exchange services in over 50 currencies, including CAD and Philippine pesos (PHP).⁵

However, the provider’s exchange rates can fluctuate, and you may not know how much your transaction will cost until you send it.⁵

You can also send money to the Philippines with RBC Bank, but you’ll need to be an RBC customer to access the bank’s foreign cash exchange services.⁶

CIBC lets you send CAD or USD to the Philippines, and you’ll access discounted rates when you send your first global transfer.⁷ The provider doesn’t charge transfer fees, but you still need to pay a currency conversion fee.⁸

Let’s take a look at the exchange rate used by each banking provider.

Bank	CAD-PHP exchange rate as seen on 4 June 2024 at 05:07 EDT
TD Bank	1 CAD = 41.6077 PHP⁵
RBC Bank	1 CAD = 41.25413 PHP⁶
CIBC	1 CAD = 42.54 PHP⁷

Online money transfer providers in the Philippines

Sending your money online is fast and convenient, and money transfer platforms like Wise make it much simpler to get funds to family in the Philippines.

Wise is intuitive and easy to use, whether you send your transfer through the website or via the handy Wise app.

Use your Wise account to send a range of different transfers, including:

• bank transfers
• wire transfers
• international Interac e-Transfers

Wise uses the mid-market exchange rate for all CAD to PHP transfers, with minimal fees starting at just 0.39%.

But don’t take our word for it. Wise is currently rated…

• 4.3 on Trustpilot® (221,557 reviews)
• 4.8 on Google Play® (901,000 reviews)
• 4.7 on Apple Store® (64,900 reviews)

With over 40 available currencies, try Wise for your global transactions!

Would you rather make business transfers to the Philippines? Try the Wise Business Account!

International money order

You can use international money orders to send payments overseas. This is a great option if you want to send funds to family in the Philippines, and you won’t need a bank account.

If you’re based in Canada, you can send your money order using your local credit union or providers like Canada Post®.⁹

Money orders are very secure. However, they often come with higher fees than other transactions.

Learn more about how to send an international money order from Canada.

Conclusion

If you want to send money to friends and family in the Philippines, you can use PNB Remittance Toronto to send easy payments by email, cheque or cash.

However, you pay to send your transfer, and it’s important to think about how long it’ll take for your recipient to receive their funds.

To start sending money in CAD and PHP at the mid-market rate, check out Wise.

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Sources

1. PNB
2. PNB
3. PNB
4. PNB
5. TD Bank
6. RBC
7. CIBC
8. CIBC
9. Canada Post
   Sources verified on 20 June 2024