Send Money to Philippines

The Philippines has become an unexpected but fast-growing destination for Indians, with around 70,000 people of Indian origin now living across the archipelago. From Manila and Quezon City to Cebu, Davao, and Iloilo, the community has grown steadily over the past two decades.

For many Indian families, the Philippines is first and foremost a medical education destination. Thousands of Indian students enrol in MBBS and allied health programmes each year, drawn by English-medium teaching, NMC-recognised universities, and costs far below Indian private colleges. Beyond medicine, Indians also work in business process outsourcing, banking, shipping, and trading.

These connections make sending money to the Philippines a recurring need. Tuition instalments, hostel fees, monthly allowances, and living costs are all settled in PHP, and transfers often repeat every semester.

Even small differences in exchange rates or fees affect what finally reaches the recipient. BookMyForex helps you remit money to the Philippines with better rates, faster processing, and complete transparency at every step. 

Money transfers from India to the Philippines are concentrated around education and business hubs. Metro Manila, including Quezon City and Makati, receives the highest volume, driven by universities, corporate offices, and the largest Indian community in the country.

Cebu attracts significant transfers linked to medical students and the outsourcing sector, while Iloilo and Bacolod see steady inflows tied to medical colleges hosting Indian cohorts.

Davao and Baguio receive smaller but consistent transfers connected to students and long-settled Indian trading families, while Angeles City and Clark see modest inflows tied to outsourcing employment and aviation services. 

Accurate beneficiary details, including the recipient's account number and the bank's SWIFT code, are essential to ensure smooth processing. Most recipients hold accounts with major Philippine banks such as BDO Unibank, BPI, Metrobank, or Landbank, making bank-to-bank transfers the preferred method.

University fees are frequently paid directly into official institutional accounts rather than personal ones, and digital banking is widely used. Funds sent from India are credited in PHP, allowing recipients to use the money immediately for tuition, rent, groceries, or everyday expenses. 

As per the Union Budget 2026, Tax Collected at Source (TCS) applies to outward remittances under LRS based on the purpose and amount of transfer. Here are the applicable TCS rates:

● Education via education loan: 0% TCS (any amount)
● Self-funded education & medical treatment: Nil up to ₹10 lakh; 2% above ₹10 lakh
● All other outward remittances: Nil up to ₹10 lakh; 20% above ₹10 lakh

Note: TCS is not a final tax, it can be claimed as credit when filing your ITR. BookMyForex auto-calculates applicable TCS at checkout so there are no surprises.

 Know More About TCS →