subject: Different Ways To Remit Money To The Philippines [print this page] Different Ways To Remit Money To The Philippines
These days there are kinds means to send money to the Philippines. However, it is hard to choose which one to use.
There are lots of remittance companies that are being established today than ten years ago so it is more comfortable to remit money to the Philippines from other countries. Many local banks also accept remittance from banks on other places.
In sending money to the Philippines, it requires transaction to the bank or remittance company. So it is very importantl to deal with them carefully because it is your hard-earned money.
Various Ways on How to Send Money to the Philippines
Here are some of the different means in remitting money to the Philippines.
1. Bank-to-bank wire transfer
This is the most safe, fastest and famous type of sending money to the Philippines or any country in the world. I prefer to use this kind of remitting money to the Philippines because it is fast and very secure.
In bank-to-bank wire transfer, you need to enroll for remittance of your money from your foreign bank to your bank in the Philippines. Some of the needed information you must put in the remittance form are the Philippine bank information and the recipient of the money.
Bank-to-bank wire transfer is just like instructing your foreign bank to transfer a defined amount of money to your bank in the Philippines. It may take two days before you get your money.
2. Western Union
Western Union has many branches around the world so it is one of the most accessible means to send money anywhere in the world. Normally, Western Union can be seen also in almost all banks.In order to receive the money from abroad, you need to pick up your money in Western Union branch near your place.
One advantage of using Western Union when remitting money to the Philippines is that it does not require any bank account. Unlike bank-to-bank wire transfer, you can still remit and receive money even you do not have a bank account.
3. Door-to-door money remittance
Door to door remittance is a classic meansltype of remitting money to Philippines. When I was a child, my father worked abroad and he always send money to Philippines by door-to-door remittance. At that time, there are few banks and remittance company so the preferred way is by door to door.
Using this meansltype, the recipient will receive the money directly from his home. That is why it is called door-to-door remittance.
4. PayPal
PayPal is a subsidiary of eBay Inc. Its main use in its early days is for secure online payment when you buy anything at eBay.
PayPal can be used to send and receive money online using the Internet and you can use it anywhere in the world. It is one of the most established online money transfer these days.
PayPal partnered with some of the Philippine banks like BPI and Union Bank so it will no be a problem on how to get real cash from your PayPal account.
5. Xoom
Xoom is an worldwide money transfer service. You cannot make an online payment using Xoom, it only supports money transfer.
Xoom has many partner companies in the Philippines like domestic banks, money transfer and remittance companies across the country.
It is of utmost importance that you remit money to Philippines with the safest and reliable money transfer or remittance company since it is the money that will be used by your family. You shouldlmust use Western Union, door-to-door service, PayPal, Xoom or bank-to-bank wire transfer to send money to the Philippines.
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