How To Send Money To The Philippines

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How To Send & Transfer Money to Philippines

Whatever your reasons for sending money to Philippines and whatever the amount, ‘Send Money Home’ can help. There are thousands of Filipinos aournd the globe that are looking ot send money to the Philippines every day. With the low valuse of the php, and the strong dollar, working in the United States and sending money to the philippines is smart. Over the past few years, we have compared all aspects of money transfers for Chinese communities living and working in the UK and other countries who send money to Philippines.

We continue to find you the lowest fees, the best exchange rate and the quickest service. We do this by continuing to look around the internet and focusing on the best places to send money to the Philippines. That being said, the internet is always changing and services provided are alos changing at a rapid pace. You really neeed to keep up with changes in the marketplace to make sure the cost you spend on sending money to the Philippine Islands isn’t too expensive. We have been able to showcase what’s on offer and compare side-by-side the different services available – making it easier for you to choose the different options and the most suitable service for your needs and the needs of those receiving the money. Simply enter the amount you wish to send and click SEARCH.

Sending Money to Philippines Online

‘Send Money Home’ is also starting to add and compare money transfer services available to Filipino communities living and working in other countries. So, do alot of searches and look at different websites to find the best places to send money. Some of the top service providers are Western Union, and also Xoom. You can find more information at their websites.

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Send money to Philippines via Western Union. This can be done by filling out a form at any Western Union-approved agency in your area, or using the phone and online options at the Western Union website (see Resources). This is the fastest method. The thing is, it can be costly. When you look at the rate that Western Union actually charges, you may be surprised to find out how much you actually pay them.

Mail a check to the Philippines. Be aware that this is risky and will take longer to reach its destination. This is very insecure. There are many scammers anc people that would steal the check and try to cash it.

Open a bank account in the United States. Send a check card with money on it through the mail to the Philippines. This will also take a while to ship and there will be transaction fees at foreign ATMs. Not bad is you don’t need to get the money right away to your family in the Philippines.

Open a bank account in the Philippines and the United States. Write a check to the Filipino bank account and mail it to the bank. The money will be deposited in the Filipino account. Good idea, but same risk as sending a check to the Philippines.

Send money through the Remit Home website (see resources). The first transaction is free, with a $10 fee for subsequent transactions. This service supports all major banks in the Philippines and offers a high exchange rate. Good idea.

Payment System

Be sure to double check the Western Union rates / charges and amount specified, charges incurred for the services you need. Enter payment information in the form. Double check again the form and make the necessary changes if needed. Enter your credit card or debit card information.

Make Sure you Get the Receipt

Don’t forget to take your receipt as you might need it as necessary when problems are encountered. Demand for a receipt. If you are doing online transaction, upon your payment information confirmation you will receive a transaction receipt. Take that.

Note of your Money Transfer Control Number (MTCN) confirming the transaction and send it to the receiving party. He or she will present the MTCN when claimingthe money you sent. Sign in to your account as necessary to check if your funds were received by the other end.

Always make sure you get receipts and documents for all your transactions. Becasue if you don’t you won’t be able to follow up and get any help from anyone. Make sure that when you are learning how to send money to the Philippines, you take the time to make sure you are doing things right.

Originally posted 2009-11-20 19:39:42. Republished by Old Post Promoter

Filed under: how to send money to philippines, send money to philippines, transfer money to philippines, western union, wire money to philippines, wire transfer money to philippines, xoom by philippines | No Comments »
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Transfer Money to Philippines Using Your Preferred Method



One of the safest ways known to transfer money to Philippines is to make a wire transfer through your bank. Many banks in the United States also exist in other countries, which makes the process easy and affordable in most cases. One example is Wells Fargo. As long as you and your relative have an account with this bank, transferring money is simple. Enrolling in the ExpressSend service and then providing your relative’s name and Philippine account number are the best first steps to make. Your transfer will usually cost about $5, and you can make regular transactions this way. Your United States dollar will be automatically changed to the Philippine peso, which equals about .02074 U.S. dollars. This means that for every U.S. dollar you send, your recipient will receive 48 Philippine pesos, which you should keep in mind. Expect your relative to receive the money within about three business days.

If you decide to use HSBC to transfer money to Philippines from your account to your relative’s HSBC account, it will cost $30. If you transfer to another bank, it will cost $45. No matter which one applies to you, the transfer will take three to five business days. If your bank does not exist in the Philippines, you can also go through a company that sends money from your account to a place where your relative can pick up cash. You can also designate an account for the money to be placed in. This type of service costs less than $4 to transfer money to Philippines, and takes anywhere from one hour to three business days.

If you and your family both have an account at Philippine National Bank, it costs $6 to transfer money by the next business day through their special remittance program. If your recipient does not have an account there, it will cost them $9 to pick it up at a branch in the Philippines using two forms of identification. There is a Philippine National Bank at New York’s 5th Avenue in Manhattan, which is convenient for those on the East Coast. There are hundreds of branches on the Philippine islands of Luzon, Visayas, and Mindanao, as well as in the country’s capital, Manila.

If your family has an account at LandBank,  Metropolitan Bank, Union Bank of the Philippines, United Coconut Planters Bank, or Bank of the Philippine Islands, to name a few, you can send up to $20 for a fee of just over $6. To send $625, there is a $31 fee. The money will be sent in Philippine pesos.

Another way to transfer funds quickly back home is to send your family member a prepaid debit card and add money to it whenever you need to. This creates convenience for your family member, as they either use their prepaid debit card to purchase items or get out cash at an ATM. Expect to pay a few dollars each time you add money to the card, but it is often better than paying upwards of $30 to transfer money to Philippines through other methods. This route also charges a flat fee rather than a percentage of what you transfer, so it is cheaper if you need to transfer a lot of money at once.

Before you decide on the best way for you to transfer money to Philippines, consider your relatives. Decide if you want them to get money instantly in their bank account, receive a debit card, or pick up cash at one of many locations near Manila, Bacolod, Davao, or other large areas. Ultimately, before you select a method to transfer money to Philippines, choose the route that is fastest, cheapest, and most convenient for you and your family member.



Originally posted 2009-11-19 00:00:00. Republished by Old Post Promoter

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Get the Facts About Overseas Workers Who Send Money to The Philippines



According to The Wall Street Journal, in June 2009, about $1.5 billion USD was sent to the Philippines, which is an increase of just over three percent compared to 2008. This includes money sent from the U.S., U.K., Japan, Korea, Canada, Italy, Qatar, Germany, and more. Considering that about eight million Filipinos live overseas, it should come as no surprise that remittances to the country make up about ten percent of its gross domestic total.

One of the reasons for this increase is likely the high demand of Filipinos in the workplace in several countries, despite the higher unemployment rate due to the current state of the economy. In fact, many predicted that the amount remitted would fall by at least double digits, but remittances are higher than ever. The easy access that Filipinos have to banks, both overseas and in their home country, has helped drive the increase, as well.

Banks have much to do with those that choose to send money to Philippines, since many expatriates use financial institutions to transfer their money home. Money transfer fees vary greatly, as HSBC charges $30 to $45 to send money to Philippines, while Wells Fargo charges $5 to $7. The prices vary depending on whether the sender is a bank member and whether they choose to send cash or make a transfer from their account. Money transfer companies that are separate from the bank are also an option, and typically charge $4 to $8 per transfer. Money is typically available anywhere from instantly to five business days.

However, banks are not the only option to send money to Philippines. With the popularity of technology, other methods have been developed to send money cheaply and quickly. The prepaid debit card takes advantage of the fact that nearly every developed city has several ATM’s, and most shops accept credit and debit cards. Sending a debit card to family in the Philippines and adding money to it at any time has become one way to get funds to family fast. The transfer is instant, and no matter how much money is sent, it costs $5 to $8. Many families can use such a card to survive, either using it to buy necessities or withdraw cash from ATM’s.

The slow economy makes it somewhat surprising that remittance to the Philippines has actually increased. If the numbers haven’t decreased yet, it is likely they won’t anytime soon, especially as worldwide economies gradually recover. Therefore, knowing remittance options will be increasingly important when it comes time for overseas workers to send money home, whether from the United States or myriad other countries.



Originally posted 2009-11-19 00:00:00. Republished by Old Post Promoter

Filed under: Personal Finance by philippines | No Comments »
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