How you decide to transfer money to the Philippines will depend on your individual needs and circumstances.

But whether you are looking to move money abroad to cover property payments or to keep your pension money coming through if you've already moved abroad, it is worth doing a bit of research on the options that are available.

The three main options are to use a bank, a Money Sending Bureau or a foreign exchange broker.

Using a bank will allow you to transfer money to the Philippines quickly and with confidence because you are using a regulated service. 

However, the benefits of transferring money through a bank come at a high cost. 

You will probably find that the service comes with a high per-transfer fee, in addition to poor currency exchange rates on the Philippine peso.

If you are thinking of using a Money Sending Bureau then be aware that they will also charge per-transfer fees - sometimes as high as 15 per cent!

But these bureaus can be useful services if you need to transfer money to somebody without a bank account in the Philippines.

Alternatively, you can look into the third option: foreign exchange brokers, like RationalFX.

If you transfer money to the Philippines with RationalFX you will benefit from not having to pay high transfer fees on your transaction.

On top of this brokers in general tend to offer competitive exchange rates on currencies like the peso due to the sheer volume of the currency that they handle.

But there is no need to take our word for it! Opening an online account with RationalFX is free and easy. Why not do so today? You will soon be able to view the exchange rates on offer to see when the best time to transfer money to the Philippines is.