Global remittances to the Philippines are currently around 30 billion British pounds (GBP) and continue to rise. Alongside the growing freelance community with international clients, expats, international students and tourists, there is an increasing need for seamless GBP transactions. Yet, high fees, poor exchange rates, and Bangko Sentral ng Pilipinas (BSP) regulations can complicate things without the right platform.

This guide outlines key considerations and the best services for sending and receiving GBP in the Philippines, with Grey as the top choice for seamless, cost-effective transfers.

Also read: How to manage multiple currencies as an expatriate in the Philippines using Grey

What to consider before sending or receiving GBP in the Philippines

Before choosing a platform, evaluate these factors to avoid delays, high costs, or failed transfers:

• Exchange rates: Compare conversion rates across platforms and watch out for hidden markups. Grey offers competitive exchange rates to ensure you maximise your funds.
• Fees: Check for transfer, conversion, or withdrawal fees. Opt for platforms like Grey that offer transparent, low-cost transactions, especially for frequent transactions.
• Processing time: Transfer speeds range from minutes to days. Prioritise fast services for urgent needs like family emergencies, tuition or supplier payments.
• Platform accessibility: Digital payment solutions are usually available as long as there is internet access, compared to traditional banks with closing times and unavailable on weekends and holidays.

Also read: Easiest way to send USD from the Philippines to the USA

Best ways to send and receive GBP in the Philippines

Here are five reliable platforms for managing GBP transactions in the Philippines, with Grey leading the pack.

1. Grey (recommended)

Grey is a reputable digital platform offering GBP accounts for seamless GBP transitions by providing users with GBP bank accounts. Its low fees, competitive rates, and accessibility make it ideal for freelancers, expats, and businesses.

Why use Grey?

• UK GBP account with sort code and account number for receiving payments.
• Fast GBP transfers to international accounts.
• Quick signup and verification
• Easy currency conversion at the best rates.
• Multi-currency support (GBP, USD, EUR) in one dashboard.

How to use:

• Sign up on Grey’s website or app.
• Verify identity with a Philippine ID (e.g., passport, driver’s license), selfie, and proof of address.
• Request GBP account details and share with senders to receive funds.
• To send GBP, enter the recipient details in Grey’s app.
• You can hold GBP or convert to PHP and withdraw to a local bank account.

2. Wise

Wise offers GBP accounts and mid-market exchange rates, supporting bank deposits (e.g., BDO, UnionBank) and mobile wallets (GCash, Maya). It’s perfect for freelancers and small businesses needing swift and affordable transfers.

How to Use:

• Create a Wise account on their website or app and verify your identity.
• Request GBP account details (sort code, account number) to receive payments.
• To send GBP, input recipient details, choose bank or wallet delivery, and pay via card or bank transfer.
• Funds arrive in PHP, often within seconds, to banks or wallets.

3. Western Union

Western Union provides GBP transfers for cash pickup in PHP or bank deposits. Though fees may be higher, it’s ideal for urgent transfers or recipients without bank accounts.

How to use:

• Receiving money: Senders transfer GBP via Western Union’s website, app, or agent and are provided with a tracking number (MTCN). You can visit an agent with a valid ID and the MTCN to collect the cash in PHP.
• Sending money: Enter recipient details and choose cash pickup or bank deposit (e.g., via Metrobank). You can pay via card or cash.
• Cash pickups arrive in minutes. Bank deposits might take longer..

4. Remitly

Remitly supports GBP transfers to local banks in the Philippines, mobile wallets, and cash pickup points. Its competitive rates and speed make it a favourite for remittances.

How to Use:

• Sign up on Remitly’s website or app.
• Receiving money: Share bank, wallet, or pickup location details with the sender.
• Sending money: Enter the recipient’s details and choose a delivery method. You can pay via card or bank transfer.
• Funds arrive in minutes for cash pickups and wallets but can take longer with banks.

Sending and receiving GBP in the Philippines with Grey

Grey simplifies GBP transactions with a UK account tailored to your needs in the Philippines. Here’s how to get started.

• Create a Grey account: Register via Grey’s website or app.
• Verify your identity: Submit a Philippine ID (e.g., UMID, TIN ID), selfie, and proof of address (e.g., utility bill).
• Request your GBP account: Get a UK sort code and account number in the Grey platform.
• Share with senders: Provide details to UK clients, families, or institutions to receive GBP.
• Send GBP: Enter recipient details in Grey’s app to transfer GBP globally.
• Manage funds: Convert GBP to PHP or withdraw to a local bank account.

Also read: How to open US and UK bank accounts in the Philippines

Simplified GBP transfers in the Philippines with Grey

Managing GBP in the Philippines is easy with the right platform. Grey stands out with its GBP accounts, low fees, and BSP compliance, making it the top choice for freelancers, students, and businesses.

Get started with Grey today for the easiest way to send and receive British pounds in the Philippines.

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