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Send money from South Korea to Philippines(KRW → PHP)
KRW
PHP|Updated recentlyMid-market 0.0408Cheapest todayof 2 providers
Wise
Rate 0.0408 · Fee free
You send
₩1,000,000
Recipient gets
₱40,799
₱450 more than the most expensive provider · 0.08% markup vs mid-market
Affiliate link · No extra cost to you
Quick answer: The cheapest way to send money from South Korea to Philippines in May 2026 is Wise, which delivers 40,798.98 PHP on a 1,000,000 KRW transfer with a fee of zero. According to SendMoneyCompare's comparison of 2 providers updated every 6 hours, the difference between the cheapest and most expensive provider on this corridor is 445 PHP.
Last reviewed: by Awais Imran, Reviews Editor
→
Rates are typical right now
42th percentile
Based on 54 days of data (2026-03-28 to 2026-05-20)
Today's best
₱4.08
Wise
54-day avg
1 KRW = 0.04 PHP
Best rate
0.04
2026-05-06 · Wise
Worst rate
0.04
2026-04-01 · Wise
What is the cheapest way to send KRW to PHP?
Sending ₩1,000,000 from South Korea to Philippines. Sorted by best value — most money received.
Source: SendMoneyCompare · Data updated every 6 hours from live provider APIs
#ProviderRateFeeRecipient gets
Rate 0.0408·Fee Free·0.08% markup
Best rate 54 of 54 days
↑ 2.0% over 54dAvg: 0.04 PHP (-0.1% vs avg)Range: 0.04–0.04
1
WiseBest value
Instant to 2 days0.08% markup
Best rate 54 of 54 days
↑ 2.0% over 54dAvg: 0.04 PHP (-0.1% vs avg)Range: 0.04–0.04
0.0408
Free
₱40,798.98
Potential savings: Choosing the best provider over the most expensive saves your recipient ₱445.06 on a ₩1,000,000 transfer.
Some links on this page are affiliate links. We may earn a commission at no extra cost to you. This does not affect our rankings, which are based on real transfer data. Editorial policy
South Korea is home to approximately 60,000 Filipino migrant workers, making KRW to PHP a major Asian remittance corridor. With a typical transfer of ₩1,000,000 (roughly $750 USD), choosing the right provider can save thousands of pesos for Philippine families.
The KRW to PHP corridor serves Filipino workers across South Korean manufacturing, agriculture, fisheries, and service industries. Many enter through Korea's Employment Permit System (EPS) and send money home regularly. The remittance market from South Korea has been disrupted by fintech providers like SentBe and Hanpass, which are regulated by the Financial Services Commission (FSC) and offer significantly lower costs than traditional Korean banks. Wise also covers this corridor with competitive rates. On the receiving side, GCash and bank deposits to BDO, BPI, and Metrobank are the most popular delivery methods. Korean banks (KB Kookmin, Shinhan, Hana, Woori) charge high SWIFT fees of ₩10,000–₩20,000 plus wide exchange rate spreads, making them the least cost-effective option.
Which provider offers the best KRW to PHP rate?
Wise
4.3Exchange rate
0.0408
Fee
Free
Recipient gets
₱40,798.98
Speed
Instant to 2 days
Which provider is best for each transfer type?
Different providers excel at different things. Here's who's best for each use case on the South Korea to Philippines route.
Cheapest transfer
Wise
Delivers the most PHP for your money
Fastest transfer
Wise
Delivers in Instant to 2 days
Bank transfer
Wise
Best rate for bank deposit to Philippines
How to send money to Philippines
Sending money to Philippines is straightforward with the right provider. Here's how it works in 3 simple steps.
Step 1
Enter your transfer details
Choose how much KRW you want to send, compare providers above, and pick the one offering the best PHP amount for your transfer to Philippines.
Step 2
Add your recipient
Enter your recipient's details in Philippines — you'll need their bank account number. Most providers verify details instantly.
Step 3
Send & track your transfer
Pay using bank transfer, debit card, or credit card. Track your money in real-time until it arrives — bank deposit typically takes minutes to 1 day.
What you need to send money to Philippines
Make sure you have these details from your recipient before starting your transfer.
Full name
Recipient's full legal name matching their bank account or valid ID
Bank account number
Philippine bank account number (10–12 digits for most banks)
Bank name
Name of the receiving bank (e.g. BDO, BPI, Metrobank, UnionBank)
GCash number
Optional11-digit mobile number linked to GCash wallet (for GCash transfers)
Example: 09171234567
Maya number
OptionalMobile number linked to Maya (formerly PayMaya) wallet
Note: The Philippines does not use IBAN. Bank transfers require the account number and bank name. For mobile wallet transfers, you only need the recipient's registered mobile number.
Transfer examples: KRW to PHP
See how much your recipient would get for common transfer amounts.
Send ₩500
ProviderFeeReceives
Wise
0.04 · Instant to 2 days
Skrill
0.04 · 0-1 days
ProviderFeeRateReceivesSpeed
WiseFree0.04₱20Instant to 2 days
SkrillFree0.04₱200-1 days
Send ₩1,000
ProviderFeeReceives
Wise
0.04 · Instant to 2 days
Skrill
0.04 · 0-1 days
ProviderFeeRateReceivesSpeed
WiseFree0.04₱41Instant to 2 days
SkrillFree0.04₱400-1 days
Send ₩5,000
ProviderFeeReceives
Wise
0.04 · Instant to 2 days
Skrill
0.04 · 0-1 days
ProviderFeeRateReceivesSpeed
WiseFree0.04₱204Instant to 2 days
SkrillFree0.04₱2020-1 days
How much does it cost to send money from South Korea to Philippines?
Korean bank SWIFT transfers cost ₩10,000–₩20,000 in fees plus exchange rate markups of 2–4%, making them extremely expensive on this corridor. SentBe, a Korean fintech specializing in remittances, charges around 0.5–1% with competitive exchange rates. Hanpass offers similar pricing with additional support in Filipino and Korean. Wise charges approximately 0.6–1.2% with the real mid-market rate. For a ₩1,000,000 transfer, using a digital provider over a Korean bank saves PHP 2,000–5,000 in total cost — a significant amount for Filipino families relying on regular remittances.
Understanding the total cost
The true cost of a money transfer has two components:
Transfer fee
The upfront charge — typically ₩0–₩10 with specialist providers.
Exchange rate markup
The hidden cost — the difference between the provider's rate and the mid-market rate (0.0408).
Ways to send money to Philippines
Choose how you want to pay for your transfer. Each payment method has different costs and speeds.
GCash is the dominant mobile wallet in the Philippines and is often the fastest, cheapest way to receive money. Cebuana Lhuillier and M Lhuillier have the widest cash pickup networks, reaching even remote provincial areas.
Bank Transfer
Low costSpeed: 1–3 business days
Usually the cheapest option — lowest fees and no card processing charges
Debit Card
Medium costSpeed: Minutes to hours
Fast and convenient — small card processing fee applies
Credit Card
Higher costSpeed: Minutes to hours
Fastest option but highest fees — card issuer may charge cash advance fee
Apple Pay
Medium costSpeed: Minutes to hours
Convenient mobile payment — linked card fees apply
How can my recipient receive money in Philippines?
Your recipient in Philippines can receive money through these delivery methods. The best option depends on their location and preferences.
Bank Deposit
Minutes to 1 day
Direct deposit to Philippine bank accounts including BDO, BPI, Metrobank, UnionBank, and Landbank.
WiseRemitlyWorldRemitXoom (PayPal)+1 more
GCash
Minutes
Instant transfer to GCash mobile wallet — the most popular digital wallet in the Philippines with 90M+ registered users.
RemitlyWorldRemitXoom (PayPal)
Maya (PayMaya)
Minutes
Transfer to Maya digital wallet. Popular alternative to GCash, especially for online payments.
RemitlyWorldRemit
Cash Pickup
Minutes
Recipient collects cash from Cebuana Lhuillier, M Lhuillier, or other payout partners — thousands of locations across the Philippines including provincial areas.
Western UnionMoneyGramRemitlyWorldRemit+1 more
Door-to-Door Delivery
1–2 days
Cash delivered to the recipient's home — available in Metro Manila and select provincial areas.
RemitlyWorldRemit
What are the transfer limits and regulations for Philippines?
Important rules and requirements to know before sending money to Philippines.
Regulatory body
Bangko Sentral ng Pilipinas (BSP)
Inbound transfer limits
No restriction on incoming remittances — the Philippines actively encourages OFW (Overseas Filipino Worker) remittances
Documentation you may need
- Government-issued photo ID (passport, driver's license, or state ID)
- Social Security Number or equivalent tax ID
- Reference number or MTCN (for cash pickup)
Important things to know
- The Philippines is one of the world's top remittance-receiving countries — the BSP has created a supportive regulatory environment for inbound transfers.
- Cash pickups over PHP 500,000 may require additional ID from the recipient.
- GCash wallet limits: PHP 100,000 for basic accounts, PHP 500,000 for fully verified accounts.
- OFW (Overseas Filipino Worker) remittances are exempt from documentary stamp tax.
How long does it take to send money to Philippines?
GCash delivery is near-instant and is the preferred method for many Filipino recipients. Bank deposits to BDO, BPI, Metrobank, and UnionBank typically arrive within 1–2 business days via SentBe, Hanpass, or Wise. Cash pickup through Western Union and Cebuana Lhuillier is available within minutes at thousands of locations across the Philippines. Korean bank SWIFT transfers take 3–5 business days. Most Korean fintech providers accept funding via Korean bank transfer, which clears same-day when initiated before the cutoff time.
FastExpress delivery
- WiseInstant to 2 days
Standard delivery
- Skrill0-1 days
Popular banks in Philippines
These are the most commonly used banks for receiving international transfers in Philippines.
BankSWIFT/BICNotes
BDO Unibank
ABORPHPHXXX
Bank of the Philippine Islands (BPI)
BABORPHPHXXX
Metrobank
MABORPHPHXXX
UnionBank
UBPHPHMMXXX
Landbank of the Philippines
TLBPPHPHXXX
Philippine National Bank (PNB)
PNBMPHPHXXX
KRW to PHP Exchange Rate History
Daily best exchange rates from top providers over the last 54 days. Rates shown are for sending $100.
| Date | Wise | __mid Market__ | Skrill |
|---|---|---|---|
| Trend | |||
| May 20 | 0.0408✓ | 0.0408✓ | 0.0404 |
| May 19 | 0.0411✓ | 0.0411✓ | 0.0405 |
| May 18 | 0.0410✓ | 0.0410✓ | 0.0405 |
| May 17 | 0.0411✓ | 0.0411✓ | 0.0407 |
| May 16 | 0.0411✓ | 0.0411✓ | 0.0407 |
| May 15 | 0.0412✓ | 0.0412✓ | 0.0408 |
| May 14 | 0.0413✓ | 0.0413✓ | 0.0408 |
| May 13 | 0.0411✓ | 0.0411✓ | — |
| May 12 | 0.0414✓ | 0.0414✓ | — |
| May 11 | 0.0414✓ | 0.0414✓ | — |
| May 10 | 0.0413✓ | 0.0413✓ | — |
| May 9 | 0.0413✓ | 0.0413✓ | — |
| May 8 | 0.0413✓ | 0.0413✓ | — |
| May 7 | 0.0419✓ | 0.0419✓ | — |
| May 6 | 0.0422✓ | 0.0422✓ | — |
| May 5 | 0.0418✓ | 0.0418✓ | — |
| May 4 | 0.0417✓ | 0.0417✓ | — |
| May 3 | 0.0417✓ | 0.0417✓ | — |
| May 2 | 0.0417✓ | 0.0417✓ | — |
| May 1 | 0.0416✓ | 0.0416✓ | — |
| Apr 30 | 0.0414✓ | 0.0414✓ | — |
| Apr 29 | 0.0416✓ | 0.0416✓ | — |
| Apr 28 | 0.0412✓ | 0.0412✓ | — |
| Apr 27 | 0.0411✓ | 0.0411✓ | — |
| Apr 26 | 0.0411✓ | 0.0411✓ | — |
| Apr 25 | 0.0411✓ | 0.0411✓ | — |
| Apr 24 | 0.0410✓ | 0.0410✓ | — |
| Apr 23 | 0.0408✓ | 0.0408✓ | — |
| Apr 22 | 0.0407✓ | 0.0407✓ | — |
| Apr 21 | 0.0407✓ | 0.0407✓ | — |
| Apr 20 | 0.0407✓ | 0.0407✓ | — |
| Apr 19 | 0.0407✓ | 0.0407✓ | — |
| Apr 18 | 0.0407✓ | 0.0407✓ | — |
| Apr 17 | 0.0406✓ | 0.0406✓ | — |
| Apr 16 | 0.0407✓ | 0.0407✓ | — |
| Apr 15 | 0.0406✓ | 0.0406✓ | — |
| Apr 14 | 0.0403✓ | 0.0403✓ | — |
| Apr 13 | 0.0406✓ | 0.0406✓ | — |
| Apr 12 | 0.0403✓ | 0.0403✓ | — |
| Apr 11 | 0.0403✓ | 0.0403✓ | — |
| Apr 10 | 0.0404✓ | 0.0404✓ | — |
| Apr 9 | 0.0402✓ | 0.0402✓ | — |
| Apr 8 | 0.0403✓ | 0.0403✓ | — |
| Apr 7 | 0.0399✓ | 0.0399✓ | — |
| Apr 6 | 0.0399✓ | 0.0399✓ | — |
| Apr 5 | 0.0399✓ | 0.0399✓ | — |
| Apr 4 | 0.0399✓ | 0.0399✓ | — |
| Apr 3 | 0.0399✓ | 0.0399✓ | — |
| Apr 2 | 0.0399✓ | 0.0399✓ | — |
| Apr 1 | 0.0398✓ | 0.0398✓ | — |
| Mar 31 | 0.0401✓ | 0.0401✓ | — |
| Mar 30 | 0.0400✓ | 0.0400✓ | — |
| Mar 29 | 0.0400✓ | 0.0400✓ | — |
| Mar 28 | 0.0400✓ | 0.0400✓ | — |
Common questions about sending money from South Korea to Philippines
What is the cheapest way to send money from South Korea to the Philippines?
SentBe and Wise are consistently the cheapest options for KRW to PHP transfers. SentBe, a Korean fintech company, charges around 0.5–1% with competitive exchange rates optimized for the Korean remittance market. Wise uses the real mid-market exchange rate with a transparent fee of 0.6–1.2%. Hanpass is another strong option, particularly popular among Filipino workers due to multilingual support (Korean, Filipino, English). For a ₩1,000,000 transfer, using any of these digital providers over a Korean bank (KB Kookmin, Shinhan, Hana) saves PHP 2,000–5,000. Always compare the total PHP received, as fee structures differ between providers.
What is SentBe and is it reliable for Philippines transfers?
SentBe is a South Korean fintech company specializing in international money transfers, founded in 2015 and regulated by Korea's Financial Services Commission (FSC). SentBe was one of the first Korean startups to challenge traditional bank remittance pricing, offering exchange rates close to the mid-market rate with fees of around 0.5–1%. The platform supports KRW to PHP transfers with delivery to Philippine bank accounts, GCash, and cash pickup locations. SentBe has processed millions of transfers and is widely used by migrant workers in Korea. The app is available in Korean, English, and Filipino. SentBe is considered reliable and is one of the most popular alternatives to bank transfers for Korean remittances to the Philippines.
Can I send money to GCash from South Korea?
Yes, GCash delivery is supported by several providers on the KRW to PHP corridor. SentBe, Hanpass, and WorldRemit all offer direct GCash delivery from South Korea. The recipient needs a GCash-registered Philippine mobile number, and funds arrive near-instantly once the provider processes the transfer. GCash has over 90 million registered users in the Philippines, and funds can be withdrawn at over 60,000 partner locations, used for bills, shopping, or transferred to bank accounts. For Filipino workers in Korea, GCash delivery is often the most convenient option because family members can access funds immediately without visiting a bank or cash pickup point.
How long does a transfer from South Korea to the Philippines take?
GCash and cash pickup delivery is available within minutes once the provider processes the transfer. Bank deposits to Philippine banks (BDO, BPI, Metrobank) arrive within 1–2 business days via SentBe, Hanpass, or Wise. Korean bank SWIFT transfers are the slowest option at 3–5 business days, with potential correspondent bank delays. Funding from a Korean bank account typically clears same-day if sent before the cutoff time. SentBe and Hanpass offer express processing options for faster delivery. Weekend transfers may be queued for Monday processing by some providers, so initiating transfers on weekday mornings is recommended for the fastest delivery.
What are the transfer limits from South Korea to the Philippines?
Korean regulations allow individuals to remit up to $50,000 per year without additional documentation under the Foreign Exchange Transactions Act. Transfers exceeding this annual limit require reporting to the Bank of Korea. Per-transaction limits vary by provider — SentBe allows up to ₩5,000,000 per transfer for verified accounts, Wise allows higher amounts, and Korean banks have varying limits based on account type. For Filipino workers on EPS visas, special remittance allowances may apply through designated banks. Hanpass and SentBe have streamlined the verification process for migrant workers with Korean residence cards (ARC). Always keep transfer receipts for tax filing purposes in both Korea and the Philippines.
Everything about sending money to Philippines
Recipient requirements, delivery methods, regulations, popular banks, and more.
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