ACE Money Transfer - Blog

Great Savings With The Best Exchange Rates On Transferring Money To the Philippines From Canada – Learn How

Great Savings With The Best Exchange Rates On Transferring Money To the Philippines From Canada – Learn How

07 Dec 2022


Do you know how to send money to Philippines from Canada, making significant savings? The best way to send money from Canada to the Philippines is determined by how the transfer will be paid for and received, the amount being transferred, the countries involved, the transfer speed, and most importantly, the exchange rates offered for converting Canadian Dollars to the Philippines Peso.

Filipinos make up about 3% of the Canadian population. That equates to nearly a million people. Filipinos have been migrating to North America for decades to live and work.

As a result, companies that send money back to loved ones in the Philippines are in high demand. Learn how to make savings when you send money from Canada to the Philippines and what you should know about finding the best exchange rates.

How Can Filipinos Make Savings On Remittance Transfers?

When sending money to Philippines from Canada, look for a provider that charges a single, transparent, and fair transfer fee. When you send Canadian dollars to the Philippines, your loved ones will most likely receive more Philippine pesos.

Many money transfer companies and agents love to advertise low rates while failing to disclose their hidden fees. ACE Money Transfer charges a single, transparent fee on transfers from Canada to the Philippines, usually among the lowest on the market.

Where To Get The Best Exchange Rates?

By comparing mid-market exchange rates between currencies, you can ensure you're being given a fair exchange rate. A reasonable exchange rate will be as close as possible to the mid-market (or interbank) rate.

Knowing the exchange rate will also enable you to calculate how much money your loved ones will receive on the other end. Exchange rates fluctuate hourly, even in economies with strong fundamentals. When sending hundreds or thousands of Canadian dollars to your family in the Philippines, the difference may initially seem negligible, but it quickly adds up.

CAD to PHP exchange rates fluctuate, so do your research to get the best deal on your transfer. ACE always provides the best exchange rates to its customers. If you use ACE Money Transfer for your money transfers to the Philippines, you will get the highest exchange rates in the market.

Why Is Canada One Of The Best Expats' Destinations?

More and more foreigners are relocating permanently to Canada due to the country's excellent healthcare system, robust economy, and diverse culture.

Compared to many other nations, Canada offers a higher standard of living, is clean, and is friendly. However, you must first follow the correct immigration procedures. If you do your research before you leave, you'll be able to find a happy home in stunning Canada.

Several overseas Filipino workers live and work here to support their families. Every money transfer to Philippines from Canada or elsewhere is a lifeline for millions yearly.

Stats about OFWs in Canada

Overseas Filipino Workers (OFWs), also recognised as Bagong Bayani, are modern-day heroes who contribute to the Philippine economy through remittances. Many families rely on money sent to them by friends and family members who live abroad.

Filipinos now make up 2.4 per cent of Canada's population (35,151,728), up from 2 per cent in 2011. In Canada, there were 468,015 more Filipino women than men (369,105). There are more Filipino women in all 13 Canadian provinces and territories than Filipino men.

The number of registered Filipino emigrants in Canada in 2020 was about 4.58 thousand, significantly decreasing from 2019. Since 2015, there has been a gradual decrease in the number of Filipino immigrants abroad. Canada was one of the most popular locations for Filipinos who lived abroad permanently, right after the US.

Reasons Why Filipinos Move To Foreign Countries

Migration is common in the Philippines for a variety of reasons. Overseas Filipino Workers, or simply "OFW," is the common term for Filipinos who work abroad. In the 1960s and 1970s, when many Western nations started hiring foreign labourers, migration began to become a trend. Poverty is the cause.

The typical scenario in a Filipino household looks like this: One of the family members travels abroad, possibly the mother, father, son, or daughter who is the breadwinner. 

He establishes a stable life there for the next five years, with occasional vacations, and he realises that he wants to stay there forever. This is typical, especially in nations like Canada, with very welcoming immigration policies.

Other than finding their true love while working abroad, some Filipinas in the Philippines also have the opportunity to meet their future husbands online. They voluntarily leave their home country to live with their foreign partner. Besides, ensuring financial support for their loved ones back home remains the top priority for most expatriates, which they typically do by making an online money transfer to Philippines or using conventional methods whenever needed.




 

Why Choose ACE Money Transfer?

ACE Money Transfer frequently has the best exchange rates on the market, in addition to a single fair and transparent fee. It's no surprise they've received five-star reviews, given their instant delivery times to many locations.

When you use ACE to make an online money transfer to Philippines, you can select from several delivery options. You can also use pesos from the Philippines to top up a loved one's phone.

ACE Money Transfer only works with the Philippines' most trusted financial company, so you can be confident that your transfer is always secure.

ACE Money Transfer guarantees its customers will get the best exchange rates when sending money to the Philippines. For all Filipino expatriates and overseas workers, ACE ensures the best competitive advantages in money transfers to the Philippines.

Suppose you want to send Canadian dollars to a bank account in Philippine pesos in the Philippines. In that case, ACE Money Transfer is the cheapest provider right now, with no transfer fees on your first transfer and a reasonable CAD-PHP exchange rate. Use the most dependable money transfer service while letting ACE manage your cash.

Bottom Line 

Try the ACE Money Transfers apps for Android and iOS. Your smartphone now has full money transfer functionality. Your money transfers to The Philippines will be as simple as possible thanks to biometric authentication, real-time exchange rates, and enhanced functionality. 

Only ACE can offer significant savings and the best exchange rates when transferring money from Canada to the Philippines. So, choose ACE Money Transfer with complete confidence to send money to Philippines online.


Tips

PREVNEXT
Here's the Best Way to Transfer Money to Nigeria from UK
The Importance of Learning the Local Language in Europe for Filipino Expat Workers

Comments