Cabo Verde is an archipelagic nation off the coast of West Africa, celebrated for its unique blend of African and Portuguese cultures and its dramatic volcanic landscapes. Its capital, Praia, located on Santiago Island, is the political and financial center. With a population of approximately 600,000, the economy is primarily tourism-driven, supported by the “blue economy” and significant remittances from the vast Cabo Verdean diaspora. In 2026, the country was officially recognized as an upper-middle-income nation, with major exports including fish, fuel re-exports, and light manufactured goods.
Money Transfer Locations
Western Union
Western Union operates through a robust partnership with Caixa Económica de Cabo Verde and BCA (Banco Comercial do Atlântico), covering nearly every inhabited island.
- Praia (Santiago) – Chã de Areia, Achada Santo António, and Plateau
- Mindelo (São Vicente) – Rua Lisboa and Porto Grande area
- Santa Maria (Sal) – Rua 1 de Junho and Vila de Santa Maria
- Espargos (Sal) – Amílcar Cabral International Airport and Town Centre
- Sal Rei (Boa Vista) – Largo Santa Isabel and Chã de Boa Vista
- São Filipe (Fogo) – Town Square
- Ribeira Grande (Santo Antão) – Main Road
- Porto Novo (Santo Antão) – Near the Ferry Terminal
- Tarrafal (Santiago) – Town Centre
- Vila do Maio (Maio) – Main Market area
- Nova Sintra (Brava) – City Hub
MoneyGram
MoneyGram services are widely available through Banco BAI Cabo Verde, BCN (Banco Caboverdiano de Negócios), and select retail exchange bureaus.
- Praia – Av. Cidade de Lisboa and Palmarejo
- Mindelo – Avenida Baltazar Lopes
- Espargos – Rua 13 de Agosto
- Santa Maria – Near the pier/tourism district
- Assomada (Santiago) – Central Market area
- Pedra Badejo (Santiago) – Main Street
Ria Money Transfer
Ria is accessible through Interatlantico Bank and specialized currency exchange partners like Verdemundo and Ageps.
- Praia – Fazenda and Achada São Filipe
- Mindelo – Monte Sossego
- Sal Rei – Near the main square
- Santa Maria – C.C. Bazamore
Major Bank & Financial Partners
International remittances (SWIFT) and inward transfers are primarily processed through these leading financial institutions in Cabo Verde:
- BCA – Banco Comercial do Atlântico (Largest branch network)
- Caixa Económica de Cabo Verde (CECV)
- Banco BAI Cabo Verde
- BCN – Banco Caboverdiano de Negócios
- Ecobank Cabo Verde
- Banco Interatlântico
- International Investment Bank (iib)
- Correios de Cabo Verde (National Postal Service Payouts)
Frequently Asked Questions
How can I send money to the Philippines from Cabo Verde?
You can send money home to the Philippines from Cabo Verde through licensed remittance providers such as Western Union, MoneyGram, Ria, Wise, Remitly, and PNB Remittance. Major Philippine banks (BDO, BPI, Metrobank, Landbank) accept inbound transfers via SWIFT and partner corridors, and digital wallets like GCash and Maya support direct cash-in from many providers in Cabo Verde.
How long does a remittance from Cabo Verde to the Philippines take?
Most digital transfers from Cabo Verde to the Philippines arrive within minutes for cash pickup and 1–2 business days for bank deposit to BDO, BPI, Metrobank, Landbank and other Philippine banks. Bank-to-bank SWIFT wires can take 2–4 business days. Weekend transfers usually post on the next Philippine banking day.
What ID does my family in the Philippines need to receive the money?
Recipients in the Philippines must present a valid government-issued photo ID (PhilSys/National ID, passport, driver's licence, UMID, or PRC ID), the sender's full name in Cabo Verde, the exact amount, and the reference/MTCN number. Some providers also require the recipient's mobile number for OTP verification.
Which providers offer the best exchange rate from Cabo Verde to the Philippines?
Rates change daily, but Wise, Remitly, and Ria typically post mid-market or near-mid-market PHP rates from Cabo Verde, while Western Union and MoneyGram trade rate for wider Philippine cash-pickup networks. Always compare the all-in cost (fee + FX margin) on each provider's quote before sending — savings of 2–4% are common on OFW corridors.
Is it safe to send remittances from Cabo Verde to the Philippines in 2026?
Yes — sending money from Cabo Verde to the Philippines is safe when you use a provider licensed in Cabo Verde on the sending side and a BSP-registered receiving agent in the Philippines. Verify your recipient's full legal name as printed on their ID, share the reference number privately, and avoid social-media middlemen. Report any issues to your local financial regulator in Cabo Verde and to the BSP Consumer Affairs Group for the Philippine end.