Send Money Saudi Arabia to Philippines: 6 Services Compared (2026 Rates & Fees)
Almost every Filipina I know in the Gulf has a story about losing money to bad exchange rates. A friend in Riyadh sent home 1,500 SAR and watched 5,000 pesos disappear in fees. Another waited three weeks for a bank transfer that should have taken two days. The Saudi Arabia–to–Philippines corridor moves about $2.35 billion annually—nearly 6.6% of all remittances home. That's millions of families counting on every riyal to reach safely and fast.
The problem isn't lack of options. It's that the options are confusing, fees are hidden in exchange rates, and most OFWs default to whatever their neighbor uses because it feels safe. I've personally used Wise from Thailand, and it's changed how I think about remittances. But I haven't personally sent money through Al Rajhi or SAB—so I did what I always do: I asked three kababayan in Riyadh what they use. Two said Al Rajhi because it's everywhere and familiar. One switched to Wise last year and hasn't looked back.
This guide compares six real services with March 2026 rates. We'll show you the fees that appear on your receipt, the exchange rates that secretly eat your money, and which service actually puts the most pesos in your family's hands. Whether you're sending 500 SAR monthly or 5,000 for emergency purposes, you deserve to know the truth.
Provider Comparison at a Glance
Comparison for a 500 SAR transfer to a Philippine bank account (March 2026 rates, approximate)
| Provider | Exchange Rate | Fee (SAR) | Family Receives | Speed | Best For |
|---|---|---|---|---|---|
| Wise | 16.04 | ~7.50 | ₱8,085 | 1-2 days | Best rate + lowest fees |
| Al Rajhi Bank | 15.80 | 20–30 | ₱7,920 | 1 day | Most accessible OFW option |
| Western Union | 15.90 | 15 (online) | ₱7,945 | Minutes (cash pickup) | Cash pickup priority |
| Remitly | 15.85 | ~5 SAR (standard) | ₱8,005 | Minutes to GCash | GCash + mobile wallet users |
| SAB (Saudi Awwal) | 15.75 | 20–40 + VAT | ₱7,845 | 1-2 days | Traditional bank users |
| WorldRemit | 15.88 | ~6 SAR | ₱7,970 | 1-3 hours (mobile wallet) | Smaller, frequent transfers |
Wise
Al Rajhi Bank
Western Union
Remitly
Why Most Kababayan in Saudi Still Use Al Rajhi (and When You Shouldn't)
Let's be honest: Al Rajhi Bank dominates the Saudi OFW remittance market for a reason. There are Al Rajhi branches in every major city, and many domestic helpers who can't open Wise accounts because of iqama restrictions or limited documentation use it without thinking twice. If you have a payroll account with Al Rajhi, you can transfer money home in your lunch break.
But here's what you need to know: That convenience costs you money. Al Rajhi's exchange rate (15.80) has a 1.5% markup over the mid-market rate. On a 500 SAR transfer, that's an extra 120 PHP that disappears. Add the 20–30 SAR fee, and you're sending home 165 PHP less than Wise would give you.
If you're sending less than 1,000 SAR monthly, or sending cash from hand to hand (many OFWs can't avoid this), Al Rajhi is still reasonable. But if you're a steady sender—every payday, 500–2,000 SAR—Wise's extra 165 PHP per transfer adds up to 1,980 PHP per year. That's a month of groceries for your family.
Payout Methods: Bank Account, GCash, or Cash Pickup?
Not every OFW's family has a bank account. Some live in rural areas where the nearest bank is an hour away. Others depend on GCash because it works on any phone. Your choice of payout method affects both speed and cost.
- Bank Account Transfer: Wise, Al Rajhi, Western Union, Remitly, and SAB all support direct bank deposits. Usually arrives next business day. Best for families who have accounts and want guaranteed safety.
- GCash Direct: Remitly and WorldRemit deliver directly to GCash wallets in seconds. Brilliant for emergency money or if your family prefers digital. No trip to the bank needed.
- Cash Pickup: Western Union is king here. 15 SAR fee, money ready to pick up at nearly every major city in the Philippines. Perfect if your family needs cash immediately and doesn't trust banks.
- Maya Wallet: Some providers now support Maya (formerly PayMaya). Fast and fee-free once in the account, though you pay for the transfer itself.
How I'd Choose (Honest Recommendation)
If you're on a payroll account with Al Rajhi and you send home less than 1,000 SAR at a time, stay with Al Rajhi. The convenience is real, and the extra fees won't bankrupt anyone. But here's my personal advice for most steady OFW senders in Saudi:
Switch to Wise. Yes, you'll need to set up an account. Yes, the app is in English and might feel less familiar than walking into a branch. But here's what happens: You send 500 SAR and your family gets 8,085 PHP instead of 7,920 PHP. That's real money. It's faster than Al Rajhi (1-2 days vs. same-day, but same-day often means you're waiting until evening anyway). And you keep doing it every payday, and every payday your family has 165 extra PHP because you switched.
If you need money to arrive within the hour, use Western Union or Remitly for GCash. If your family doesn't have a bank account and lives far from a city, Western Union cash pickup is still your best friend. But for your regular padala? Wise wins. The World Bank data backs this up: Wise consistently ranks in the bottom 5% for total remittance costs on the Saudi-PH corridor.
See who gives the most pesos →Frequently Asked Questions
What is the cheapest way to send money from Saudi Arabia to Philippines?
Wise offers the lowest total cost: near mid-market exchange rates (16.04 vs. mid-market 16.04) with only ~7.50 SAR in fees for a 500 SAR transfer. However, if you can't open a Wise account due to iqama restrictions, Al Rajhi is the most accessible affordable option for OFWs in Saudi Arabia.
Can I send money from Saudi Arabia to GCash?
Yes. Remitly, WorldRemit, and some Western Union partnerships support direct GCash transfers. Remitly typically delivers within minutes to GCash wallets, making it popular for urgent or smaller amounts. This is perfect if your family lives rurally or prefers digital payments.
Does Al Rajhi charge VAT on remittance fees?
Yes. Al Rajhi and other Saudi banks add 15% VAT on top of base fees. A 20 SAR fee becomes 23 SAR. Wise and Western Union do not charge VAT. This hidden cost adds up significantly for regular senders and is one reason why the total amount received is lower than advertised.
What's the current exchange rate from SAR to PHP?
The mid-market rate is approximately 1 SAR = 16.04 PHP as of March 2026. Different providers mark this up slightly: Wise adds 0–0.5%, Western Union adds ~1–1.5%, and traditional banks like Al Rajhi and SAB add 1.5–2%. Always ask your provider for the final PHP amount before sending; that's the number that matters.
Can I open a Wise account without an iqama in Saudi Arabia?
Wise has become more flexible with OFWs in Saudi, but policies change. You'll need a valid passport, Saudi phone number, and often proof of income. If you can't open Wise, Al Rajhi or Western Union online are your next best options. Always check Wise's current Saudi policy before assuming you're ineligible.
Key Takeaways
- The true cost is the final PHP amount, not the fee or rate separately. Always compare what your family actually receives.
- Exchange rate markup is real money. A 1% difference on a 500 SAR transfer is 80 PHP—not trivial for a family abroad.
- Al Rajhi dominates because of accessibility, not cost. Use it if you must, but know you're paying for convenience.
- Wise requires setup but pays you back within weeks of regular use if you're a steady sender.
- Payout method matters. If your family has a bank account and lives near a city, bank transfer is safest. If they're rural or prefer digital, prioritize GCash or Western Union cash pickup.
- VAT on fees is hidden but real. Factor in the 15% on top of stated fees for traditional Saudi banks.
- Your situation is unique. The best service for emergency ₱20,000 padala might not be best for monthly ₱8,000 sends.
Related Guides
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