Send Money from Canada to Philippines
Businesses in Canada paying Philippines suppliers for Electronics. Send CAD from Canada, receive PHP in Philippines with t+0 (2.3s avg within unicorn network).
Save £2,220 per £100k Payment
Canada to Philippines corridor savings
- ❌ 2-3 day settlement
- ❌ Multiple correspondent banks
- ❌ Hidden FX margins
- ❌ High SWIFT fees
- ✓ T+0 (2.3s avg within Unicorn network)
- ✓ Local CAD collection
- ✓ Transparent 0.5% spread
- ✓ InstaPay
Sending from Canada: What You Need to Know
CAD Origin Specifics
- CAD commodity currency (tracks oil/resources)
- Interac e-Transfer for fast payments
- FINTRAC oversight
Your Local Advantages
- Local CAD account available
- EFT (Electronic Funds Transfer) instant collection
- No correspondent bank fees on origin side
Paying Suppliers in Philippines: Compliance & Requirements
Regulatory Considerations
- Bangko Sentral ng Pilipinas FX regulations
- Bureau of Customs documentation
- VAT (12%) on imports
- BSP reporting requirements
Payment Best Practices
- Philippines = Electronics manufacturing, BPO hub
- InstaPay fastest for PHP payments under ₱50k
- Metro Manila + Cebu = Main business centers
- English widely spoken - easy communication
Canada → Philippines Corridor Insights
Popular Industries
- Electronics
- Garments
- BPO Services
Peak Trading Hours
EST/PST (GMT-5/-8) to GMT time zone consideration
Typical Volume
£50k-£250k
Frequently Asked Questions: CAD-PHP Payments
How fast are CAD-PHP payments?
CAD-PHP payments settle in an average of 2.3 seconds wallet-to-wallet when using Unicorn Currencies' local rails, or 1-3 days via traditional SWIFT depending on the route and correspondent banks involved.
What does a CAD-PHP transfer cost?
Unicorn Currencies charges a 0.5% FX spread plus a flat fee of £5 per payment for CAD-PHP transfers. This is significantly cheaper than traditional banks which typically charge 2-4% in hidden FX margins plus high SWIFT fees.
What exchange rate do I get for CAD-PHP?
You get real-time wholesale CAD-PHP exchange rates with 15-second rate locks. Our rates are sourced from institutional FX markets, giving you the same pricing that banks use for their own trades.
Can I lock the CAD-PHP rate in advance?
Yes, forward contracts are available for CAD-PHP payments. You can lock in today's rate for future payments, protecting your business from currency fluctuations for up to 12 months.
What details do I need for CAD-PHP payments?
Beneficiary details vary by destination. For Philippines payments, you typically need the recipient's local account details (InstaPay), account number, and beneficiary name. Some destinations may also require local clearing codes.
Ready to Send CAD from Canada to Philippines?
Save 81% on every payment with t+0 (2.3s avg within unicorn network). Local CAD collection available.
Bank of Canada registered PSP | FINTRAC licensed MSB