For Japanese overseas students, workers, or simply travelers in the Philippines, the first thing that we will need to consider is money.
Specifically, what is the exchange rate from Yen to PHP and the procedure on how to conveniently convert the money?
Philippines Money Exchange
Don’t be worried; this article will make sure to provide all the essential guidelines to make sure you can make your own transferment easily.
Table of Contents
- 1 Is PHP Stronger Than JPY?
- 2 How Much Is Yen to PHP?
- 3 What Is The Cheapest Way To Send Money To The Philippines?
- 4 Can I Send Money To The Philippines Using GCash?
- 5 How To Send Money From Japan To The Philippines At The Best Rate?
- 6 How Can I Transfer Money To The Philippines Bank Account?
- 7 Which Bank Is Best For International Transfers?
- 8 How Long Does It Take To Transfer Money From Abroad To The Philippines?
- 9 Conclusion
Is PHP Stronger Than JPY?
Japan’s economy is undoubtedly one of the highest developed countries globally, and the Philippines’ living standard is also quite high.
How Strong Is The JPY?
However, the exchange rate between these two countries is surprising as the PHP is stronger than JPY which means 1 peso will be more valuable than 1 yen.
How Much Is Yen to PHP?
Up to this date, Yen can be exchanged for the amout of PHP as the table below
|Updated as of||7/1/2022|
JPY 10,000 Yen
Quick convert the Yen to PHP based on amount of money as table below
|Japan Money (Unit: JPY)||Philippines Money (Unit: PHP)|
|1 yen to php||0.41|
|1000 yen to php||410.16|
|2000 yen to php||820.32|
|3000 yen to php||1,230.48|
|5000 yen to php||2,050.80|
|10000 yen to php||4,101.60|
|50000 yen to php||20,507.99|
|100000 yen to php||41,015.98|
|Updated as of||7/1/2022|
|Exchange rate based on average selling price of local banks|
What Is The Cheapest Way To Send Money To The Philippines?
Knowing the cheapest option feasible for transferring money from Japan to the Philippines can save a lot of our transaction costs. Your receiver can receive the most money in Philippine Peso.
Concerning the transaction speed, safety, or confidentiality issues is also important, but acquiring the best approach to earn the most out of your money is to use the inexpensive methods for JPY to PHP cash transactions.
Other quick and easy second methods of sending money may not be the most cost-effective. For instance, a company can advertise to provide you with the quickest way to send money from Japan to the Philippines.
However, you could end up paying huge extra fees and receiving a sub-optimal exchange rate on your foreign currency transaction.
This is why we are here to help you know the tips and tricks that can help save you from a big loss.
The solution here is RemitFinder – a remittance comparison platform that can assist you in finding the lowest money transfer choices for getting the best Japan to Philippines exchange rate. You can also receive a lot of vouchers and discounts from the platform.
Other options include Remitly – a digital money transfer service with a mission to make money transfers faster, more transparent, and affordable.
As a digital service with no physical presence, Remitly can reduce your operating costs so that you can benefit from that. Remitly cares about protecting your hard-earned money when you send it home.
Can I Send Money To The Philippines Using GCash?
GCash is a virtual wallet service that can be used to transfer funds on Remitly via Mobile Remittance in the Philippines. Recipients need to create a GCash account to be able to receive the funds.
Send Money To The Philippines Using Gcash
The application is very useful for international customers who need to send money to the Philippines as this is very popular among Filipinos, with up to 40% of domestic users.
The good news here is we can send money from Japan to the Philippines using Gcash, and the process is also quite fast.
How To Send Money From Japan To The Philippines At The Best Rate?
We can use Western Union – a service used for the remittance payment needs of people traveling across the country. In today’s dynamic economic environment, Western Union service is the place to entrust the trust of those who want to transfer internationally.
It’s known for providing the best rate, and all information about the sender will be kept confidential. Transferring money via Western Union is very easy, but the sender must go directly to the bank to perform the necessary procedures when transferring money.
How Can I Transfer Money To The Philippines Bank Account?
Besides mobile wallets, there are also other famous banks in the Philippines, such as Metrobank Philippine National Bank (PNB), LandBank, and Banco de Oro (BDO).
In order to send the money to these banks or any bank in the Philippines, we need the following information:
- Full name.
- Account details.
- Mobile number.
- Email (optional).
- Sending reason.
You can send bank transfers to the Philippines when all the required information is provided.
Which Bank Is Best For International Transfers?
There are large domestic banks in Japan, such as Mizuho and Mitsubishi UFJ Bank.
However, the following banks, such as JP Bank, Shinsei Bank, Rakuten Bank, and MUFG Bank, are more famous to foreigners.
How Long Does It Take To Transfer Money From Abroad To The Philippines?
It varies on the platform you choose to transfer the money – wire or bank. In many cases, it only takes a few minutes for the money to be credited to the recipient’s account.
Some other quick transactions will happen in 24 hours. However, there can be some delay in the exchange of information which could take up to 2-3 days for the money to arrive.
Making payments internationally can be confusing, especially for beginners, not to mention the cost and difficult procedure involved.
This Yen to PHP review will provide you with the exchange rate between Japan and the Philippines, as well as some great methods that can help you be able to transfer money quickly, safely, and cost-effectively.