Quick Facts
| Aspect | Details |
|---|---|
| Fees | $3.99 - $7.99 |
| Processing Time | Minutes to 3 business days |
| Minimum Withdrawal | $1 |
| Supported Banks | UnionBank, BDO, BPI, GCash, Maya |
Step-by-Step Process
Transferring money from Remitly to UnionBank is straightforward. Here’s how you can do it step-by-step:
- Create a Remitly account or log in if you already have one.
- Choose the delivery speed that suits your needs. Economy transfers are cheaper but take longer, while Express transfers cost more but are quicker.
- Enter the recipient’s details. Ensure the UnionBank account information is accurate to avoid delays.
- Select the transfer amount. Remitly will show you the exact fees and the expected delivery time.
- Confirm the transaction and make the payment using your preferred method, such as a bank account or credit/debit card.
- Track the transfer through Remitly’s app or website until the funds are deposited into the UnionBank account.
Fees Breakdown (Philippines 2026)
Understanding the fees involved in a Remitly to UnionBank transfer helps you make informed decisions:
- Economy Transfer: $3.99, usually delivered within 3 business days.
- Express Transfer: $7.99, delivered within minutes to hours.
- Exchange Rate Markup: Approximately 1-2% above the mid-market rate, which is competitive for international transfers.
To put this in perspective, a $3.99 fee is roughly equivalent to PHP 200, about the cost of a meal at a mid-range restaurant in Manila.
Best Banks to Use
When choosing a bank for your Remitly transfers, consider the following options:
BDO
BDO is one of the largest banks in the Philippines, offering extensive branch and ATM networks. However, their fees can be higher compared to others.
BPI
BPI provides reliable service with competitive fees and a user-friendly mobile app, making it a popular choice among freelancers.
UnionBank
Known for its digital banking services, UnionBank offers lower fees and seamless transactions, making it ideal for online freelancers.
GCash/Maya
For those who prefer mobile wallets, GCash and Maya offer convenient ways to receive and manage funds with UnionBank integration. GCash guide
Common Problems
Despite its efficiency, you may encounter some common issues when transferring money via Remitly:
Verification Issues
Ensure your identity is verified with Remitly to avoid any delays. Use government-issued IDs and ensure your details match perfectly.
Transfer Delays
Occasionally, transfers can take longer due to network issues or incorrect bank details. Double-check the recipient's information before confirming the transaction.
Solutions
If you experience delays, contact Remitly’s customer support for assistance. Keep your transaction reference number handy for quicker resolution.
Frequently Asked Questions
How long does it take to transfer money from Remitly to UnionBank?
It can take anywhere from a few minutes to three business days, depending on the chosen delivery speed.
Are there any hidden fees with Remitly?
Remitly is transparent about its fees, which you can see before confirming the transfer. Be aware of the exchange rate markup, though.
Can I transfer money to other banks in the Philippines?
Yes, Remitly supports transfers to major banks such as BDO, BPI, and others besides UnionBank.
What should I do if I encounter a problem with my transfer?
Contact Remitly’s customer service with your transaction details for assistance. They can help resolve issues quickly.
Is it safe to use Remitly for money transfers?
Yes, Remitly uses advanced security measures to protect your transactions and personal information.
My Recommendation
In my 6 years of freelancing, I've found Remitly to be a reliable option for receiving payments from international clients, especially when paired with a UnionBank account. The combination of low fees and fast transfer times makes it a preferred choice for many freelancers like myself.
However, if you're handling large volumes of transactions, consider using Payoneer for its seamless integration and additional services. Payoneer offers a $25 bonus on your first $1,000 received, which can be a great way to offset any fees. Payoneer guide
Start Receiving International Payments
Join 5 million freelancers using Payoneer. Get $25 bonus on your first $1000.
Open Free Payoneer AccountUsing Payoneer has been a game-changer for me, allowing me to manage my finances more efficiently and improve my cash flow. Plus, the customer service is excellent, which is crucial when dealing with international transactions.
Freelancers in the Philippines can benefit greatly from using digital wallets like GCash or Maya for added flexibility when withdrawing funds. These platforms often offer promotions and have lower fees, making them a smart choice for managing smaller, day-to-day expenses.
Overall, whether you choose Remitly, Payoneer, or a combination of services, the key is to find what works best for your specific needs. Always consider the fees, transfer times, and convenience offered by each option to maximize your earnings and minimize costs.
In conclusion, leveraging these platforms not only helps you receive payments efficiently but also ensures you have more time to focus on growing your freelance career. Every peso saved on fees is a peso that can be reinvested into your business or saved for future needs.
By understanding these payment methods, you can make informed choices that align with your financial goals, ultimately leading to a more sustainable and rewarding freelance career.