Compare exactly how many pesos you keep on a USD→PHP conversion across the four paths Filipino freelancers and OFWs actually use — Wise, USDT P2P, Payoneer, and the bank wire most people default to and quietly lose money on. Live mid-market rate. Real fees. We even show the option we earn nothing from.
Wise (~0.55%): Mid-market rate + transparent percentage fee, based on Wise's published fee structure (verify on wise.com). Roughly $5–8 lost per $1,000. Best for direct US-client invoicing.
USDT P2P via Binance (~2%): 1–3% effective spread above mid-market on Binance P2P for USDT→PHP, plus negligible TRC-20 network fees (~$0.50–1). We use 2% as the typical-condition midpoint. Different trade-offs: regulatory uncertainty, no deposit insurance, BIR reporting obligations. Best for $2,000+/mo where speed and low cost outweigh those.
Payoneer (~3.5%): Up to 3.5% FX spread above mid-market on direct USD→PHP conversion — roughly $35 lost per $1,000. Free for marketplace receiving (Upwork, Fiverr). Full breakdown + the cheaper workaround in our Payoneer review.
Traditional bank wire (~4% + ~$15): The default most people never question — and the most expensive. PH banks apply a poor FX markup (often 3–5% below mid-market) on top of SWIFT and receiving fees (~$10–20). We model 4% + $15 flat; actual cost varies significantly by bank. If your US client pays you by international wire, you're almost certainly leaving money on the table — see the cheaper alternatives.
All numbers from our Wise vs Payoneer comparison, USDT vs Wise vs Payoneer, and how to receive international payments guides.
Don't forget the tax side: USD income is Philippine-taxable regardless of how you receive it. See how to file your BIR taxes and the 8% option.
What this calculator does NOT include: ATM withdrawal fees · debit card fees · taxes on the income itself. Add ~₱20–100 per withdrawal depending on path. The rate is the live mid-market rate from open ECB-sourced data — your provider's rate at the exact moment of conversion may differ slightly.