Ways To Remit To The Philippines

Sending money to the Philippines sometimes hard even though there are many ways on how to remit money from abroad to the Philippines.

It is easier to send money to the Philippines today compared to ten years ago because there are many companies now offering remittance services. Almost all banks in the Philippines have remittance services that caters to Filipinos working abroad.

It is very important to make sure that the remittance company or the bank that you are transacting for sending your money to the Philippines is legitimate and reputable. Money is involved so you need to be very careful.

Where to Send Money to Philippines?

Sending money or remittance to Philippines from other countries can be done in different ways. You can send money by the following methods.

1. Bank-to-bank wire transfer

Bank-to-bank wire transfer is the most preferred and secure type of sending money to the Philippines. Many people are using this type because it is fast and reliable.

In bank-to-bank wire transfer, you need to apply for remittance of your money from your foreign bank to your bank in the Philippines. Some of the important details you must put in the remittance form are the Philippine bank information and the recipient of the money.

This kind of sending money is like commanding your foreign bank to transfer a certain amount of money to your Philippine bank. Normally, after 2-5 days the money will be added to your bank account.

2. Western Union

Western Union is one of the most convenient way to send money in any part of the world because it has numerous branches around the globe. It is also partnered with most of the banks. You can receive the money from your relatives abroad by getting it directly to the Western Union branch.

One advantage of using Western Union when sending money to the Philippines is that it does not require any bank account. Unlike bank-to-bank wire transfer, you can still send and receive money even you do not have a bank account.

3. Door-to-door money remittance

This type is a classic way of sending and money to the Philippines. In the past decades, door-to-door remittance service is the most commonly used way of remitting money to the country. Until now, many remittance companies still have this service.

Using this way, the recipient will receive the money directly from his door. That is why it is called door-to-door remittance.

4. PayPal

PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet.

It is safe to use because it is protected by many laws and advance system for anti-fraud and online phishing. You must create an account before you can use PayPal to send and receive money or use it in purchasing online.

PayPal partnered with some of the Philippine banks like BPI and Union Bank so it will no be a problem on how to withdraw real cash from your PayPal account.

5. Xoom

Xoom is an international money transfer service. You cannot make an online payment using Xoom, it only supports money transfer.

In sending money to the Philippines, you can use Xoom and your relatives can pick up the money from partner companies, withdraw money from bank or deliver the money by door-to-door service.

Sending money to the Philippines is very important to be safe and secured with lowest remittance fee because it is your hard-earned money. You may remit money to Philippines by bank to bank wire transfer, door-to-door money transfer, Western Union, PayPal or Xoom.

Gily Tenorio loves blogging on finance, saving and investing. He loves playing guitar and reading books. He resides in Korea with his wife and son. For more information on Remittance to Philippines, feel free to browse Financial Management Articles, for free financial management articles on saving, investing and make money online.