You’re losing money on your remittance app - Let me show you why.

I send money back home to the Philippines for many reasons—property, business, and to help my family. I used to think 1 peso difference in the exchange rate didn’t matter… boy, was I wrong. I started comparing exchange rates between remittance apps as I found this one app that lists its rates vs some other ones. At the time of writing this, I was a Sendwave user (and before that, a Remitly user) and both of those apps were sending about 55 PHP per dollar, while NALA’s rate was about 57 PHP. When I calculated the total amount I was sending for the whole month, I realized that choosing the lower exchange rate would mean losing $80! That’s when I started this experiment.

I used 6 different apps and compared the exchange rates... here was the best one (by exchange rate)

Ok, $80 is a large chunk, so I started downloading the different apps to compare which had the best rates… I downloaded Remitly, Sendwave, Xoom, World Remit, and Tap Tap Send. While many don’t charge transfer fees (seems to be the norm for most digital apps but not all), their exchange rates vary widely.

As of March 19, 2025, most apps offered between 55-56 PHP per dollar, but it was NALA, which had 57.15 PHP. Sending $1,000 at 55.53 PHP gives 55,530 PHP, while NALA’s rate gives 57,150 PHP—that’s a 1,620 PHP difference just because of the exchange rate! Like… that could go a long way in the Philippines.

It doesn’t hurt to try it (it actually hurts more if you don’t)

For those who regularly send money home, switching to the app with the best exchange rates will lead to more money in your pocket and, ultimately, more for your family. That's why the switch to NALA was pretty simple for me. One of the app's standout features is the ability to directly compare exchange rates on their website or app, making it easier to ensure you're getting the best deal. 

We’ll give you $5 to try it!

If you're looking to save even more money when sending remittances, consider checking your current app's exchange rate. If you find a lower rate, it might be worth it to try NALA, and if you download with this link, we’ll send you $5 when you send $5. Just click to download and put in the promo code BALIKBAYAN.

One Down is partnering with NALA to provide educational content for the Filipino community. While this post reflects my independent research and personal experience as a remitter using NALA, I encourage everyone to explore their options. Remember, even small differences in exchange rates can lead to significant savings over time!