How to Send Money from Philippines to Qatar?

Sending money from the Philippines to Qatar can be done through various methods, including online transfer services, banks, and remittance companies. The best option depends on factors like transfer speed, fees, exchange rates, and convenience. This guide will explore the most effective ways to send money from the Philippines to Qatar.

Money Transfer Options From Philippine to Qatar

When it comes to sending money from the Philippines to Qatar, there are several options available. Each method has its own advantages and considerations. Here’s a breakdown of the most common ways to transfer funds:

Online Money Transfer Services

Online money transfer services have become increasingly popular due to their convenience and competitive rates. Some of the top providers for sending money from the Philippines to Qatar include:

1. Moneycorp
2. Western Union
3. MoneyGram
4. Remitly
5. WorldRemit
6. Wise

These services often offer lower fees and better exchange rates compared to traditional banks. They also provide the convenience of initiating transfers from your computer or smartphone.

Bank Transfers

Many banks in the Philippines offer international money transfer services to Qatar. While this method can be reliable, it often comes with higher fees and less favorable exchange rates compared to specialized money transfer services.

Remittance Companies

Remittance companies with physical locations, such as Western Union and MoneyGram, allow you to send money in person. This can be a good option for those who prefer face-to-face transactions or need to send cash.

Mobile Wallets and Payment Apps

Some mobile wallets and payment apps, like PayPal and Xoom, offer international money transfer services. However, they may have limitations and higher costs compared to dedicated money transfer providers.

Best Ways to Send Money from Philippines to Qatar

After analyzing various options, here are the top methods for sending money from the Philippines to Qatar:

1. Moneycorp

Moneycorp consistently ranks as one of the best options for transferring money from the Philippines to Qatar. Here’s why:

• Competitive exchange rates
• Low transfer fees
• Fast transfer times
• User-friendly online platform
• Excellent customer service

To use Moneycorp:

1. Sign up for an account on their website
2. Verify your identity
3. Choose Qatar as the destination country
4. Enter the amount you want to send
5. Select your payment method
6. Review and confirm the transaction

2. Western Union

Western Union is a well-established name in international money transfers and offers several advantages:

• Wide network of agent locations in both the Philippines and Qatar
• Option for cash pickup or bank account deposit
• Fast transfer times, with some transfers completed in minutes
• Online and in-person transfer options

To send money via Western Union:

1. Visit their website or a local agent
2. Choose Qatar as the destination
3. Select cash pickup or bank deposit
4. Enter the transfer amount
5. Provide sender and recipient details
6. Pay for the transfer
7. Receive a tracking number (MTCN) to share with the recipient

3. LBC Express

LBC Express is a popular option for Filipinos sending money abroad, including to Qatar. Their Instant Peso Padala International service offers:

• Competitive exchange rates
• Reasonable fees
• Option for cash pickup or bank deposit
• Extensive network of branches in the Philippines

To use LBC Express:

1. Visit an LBC branch in the Philippines
2. Fill out the Sender’s Form with required information
3. Provide necessary identification
4. Pay the transfer amount and fees
5. Receive a transaction number to share with the recipient

4. MoneyGram

MoneyGram is another reliable option for sending money from the Philippines to Qatar:

• Fast transfer times
• Multiple payout options (cash pickup, bank deposit, mobile wallet)
• Competitive exchange rates
• Online and in-person transfer options

To send money through MoneyGram:

1. Create an account on their website or visit an agent location
2. Choose Qatar as the destination
3. Select the payout method
4. Enter the transfer amount
5. Provide sender and recipient information
6. Pay for the transfer
7. Receive a reference number to track the transaction

5. Bank-to-Bank Transfer

While not always the most cost-effective option, bank-to-bank transfers can be a reliable method for sending money from the Philippines to Qatar:

• Direct transfer between bank accounts
• Suitable for larger amounts
• May offer additional security features

To make a bank-to-bank transfer:

1. Contact your bank in the Philippines
2. Provide the recipient’s bank details in Qatar
3. Fill out the necessary forms
4. Pay the transfer amount and fees
5. Receive a transaction reference number

Factors to Consider When Choosing a Money Transfer Method

When deciding how to send money from the Philippines to Qatar, consider the following factors:

Exchange Rates

The exchange rate can significantly impact the amount of Qatari Riyals (QAR) the recipient receives. Compare rates from different providers to get the best deal. Keep in mind that the mid-market rate (the rate you see on Google) is typically not available to consumers, and providers will add a markup.

Transfer Fees

Fees can vary widely between providers and methods. Some charge a flat fee, while others use a percentage of the transfer amount. Be sure to calculate the total cost, including both fees and exchange rate markup.

Transfer Speed

Transfer times can range from minutes to several business days. If speed is crucial, look for providers offering instant or same-day transfers.

Payout Options

Consider whether the recipient prefers cash pickup, bank deposit, or mobile wallet transfer. Ensure the chosen method is convenient for the recipient in Qatar.

Security and Reliability

Choose a reputable provider with strong security measures to protect your money and personal information.

Ease of Use

Consider the convenience of the transfer process, including whether you can send money online, through a mobile app, or if you need to visit a physical location.

Comparison of Top Money Transfer Services

To help you make an informed decision, here’s a comparison of the top money transfer services for sending money from the Philippines to Qatar:

Provider	Transfer Speed	Fees	Exchange Rate Markup	Payout Options
Moneycorp	1-3 business days	Low	Competitive	Bank deposit
Western Union	Minutes to 1-3 business days	Varies	Moderate	Cash pickup, Bank deposit
LBC Express	1-3 business days	Moderate	Competitive	Cash pickup, Bank deposit
MoneyGram	Minutes to 1-3 business days	Varies	Moderate	Cash pickup, Bank deposit, Mobile wallet
Bank Transfer	2-5 business days	High	High	Bank deposit

Note: Actual fees, exchange rates, and transfer speeds may vary depending on the specific transaction details and current market conditions.

Steps to Send Money from Philippines to Qatar

While the exact process may vary depending on the provider you choose, here are the general steps to send money from the Philippines to Qatar:

1. Choose a money transfer provider
2. Create an account (if using an online service)
3. Verify your identity
4. Select Qatar as the destination country
5. Enter the transfer amount in Philippine Pesos (PHP)
6. Review the exchange rate and fees
7. Provide the recipient’s information
8. Choose the payout method (cash pickup, bank deposit, etc.)
9. Select your payment method (bank transfer, debit card, credit card, cash)
10. Review and confirm the transaction details
11. Complete the payment
12. Receive a transaction or tracking number
13. Share the tracking number with the recipient (if required for pickup)

Tips for Sending Money from Philippines to Qatar

To ensure a smooth and cost-effective money transfer experience, consider these tips:

1. Compare multiple providers before making a decision
2. Be aware of any transfer limits imposed by providers or regulations
3. Keep exchange rate fluctuations in mind and consider timing your transfer accordingly
4. Double-check all recipient information to avoid transfer delays
5. Be cautious of deals that seem too good to be true, as they may be scams
6. Keep transaction receipts and tracking numbers for your records
7. Inform the recipient about the expected arrival time and any steps they need to take to receive the funds
8. Consider setting up regular transfers if you send money frequently to save time and potentially benefit from better rates

Legal Considerations and Documentation

When sending money from the Philippines to Qatar, be aware of the following legal considerations and required documentation:

Anti-Money Laundering (AML) Regulations

Both the Philippines and Qatar have strict AML regulations. For larger transfers, you may need to provide additional documentation to prove the source of funds and the purpose of the transfer.

Remember that Qatar does not allow cryptocurrency and using apps like Binanace is not allowed.

Know Your Customer (KYC) Requirements

Most money transfer providers and banks will require you to verify your identity as part of KYC procedures. This typically involves providing a government-issued ID, such as a passport or driver’s license.

Reporting Requirements

For large transfers, there may be reporting requirements to the central banks or financial intelligence units of both countries. Your chosen provider should handle this, but be prepared to provide additional information if requested.

Required Documentation

When sending money from the Philippines to Qatar, you may need to provide:

• Valid government-issued ID
• Proof of address
• Proof of income or source of funds (for larger transfers)
• Information about the recipient, including their full name and address
• Purpose of the transfer

Receiving Money in Qatar

For the recipient in Qatar, the process of receiving money will depend on the chosen payout method:

Cash Pickup

If the recipient is collecting cash, they will need to:

1. Locate a designated pickup location
2. Provide the transaction reference number
3. Present a valid ID
4. Sign for the receipt of funds

Bank Deposit

For bank deposits, the recipient should:

1. Ensure their bank account details were provided correctly
2. Check their account balance for the transferred funds
3. Allow for processing time, which can vary depending on the bank

Mobile Wallet

If receiving funds via a mobile wallet:

1. Ensure the mobile wallet is set up and verified
2. Check for a notification of received funds
3. Follow any prompts to accept or move the funds within the wallet

Frequently Asked Questions

Here are some common questions about sending money from the Philippines to Qatar:

1. What is the cheapest way to send money from the Philippines to Qatar?
   Online money transfer services like Moneycorp often offer the most competitive rates and fees.
2. How long does it take to transfer money from the Philippines to Qatar?
   Transfer times can range from minutes to 5 business days, depending on the method and provider chosen.
3. Is it safe to send money online from the Philippines to Qatar?
   Yes, when using reputable providers with proper security measures in place.
4. Can I send money to Qatar without a bank account?
   Yes, some services allow you to send money for cash pickup without a bank account.
5. Are there limits on how much money I can send from the Philippines to Qatar?
   Limits vary by provider and method. Check with your chosen service for specific limits.
6. Do I need to pay taxes on money sent from the Philippines to Qatar?
   Generally, personal remittances are not taxed, but consult with a tax professional for your specific situation.
7. What exchange rate will I get when sending money to Qatar?
   Exchange rates vary by provider and fluctuate with the market. Compare rates from different services to get the best deal.
8. Can I cancel or modify a money transfer after it’s been sent?
   This depends on the provider and the transfer status. Contact customer support immediately if you need to cancel or modify a transfer.

Sim transfer process