![]() To set up the transfer, you’ll need the recipient’s address and bank account information. International bank transfers, alternatively, are long-standing methods for sending money overseas. Some services also allow you to add airtime to a mobile phone, which is useful if you’re helping a family member or friend with their monthly expenses. Depending on the service, you may also have the cash delivered to the relative’s home or a convenient pickup location. These popular apps let you initiate low-cost transfers at any time, and some include options to transfer funds to a loved one’s mobile wallet or bank account. Mobile apps are increasingly popular for sending money to family overseas. What’s the best method for sending money to the Philippines? Or, you can use a platform that delivers cash to their homes. In that case, you (and they) may be better served by using an app-based service where you can send money to a local shop for the recipient to pick up in cash. Even if they have a bank account, they may have to travel to an ATM or bank branch to subsequently get cash. If your family members live in a rural area, a bank transfer might be difficult to collect. How will the recipient receive the funds? Or, if you’re using a cash pickup service, consider when they need the money and when they can pick it up. This will help you decide how often to send money and how early you need to start your transfer to ensure they have the funds they need.Įven when you initiate a transfer immediately, it can take a few days to hit your family member’s account. Talk with your family members about when they need the money, especially if you’re helping out with bills. You also want to consider when to send the money. Different money transfer services provide different exchange rates, so factor that into your budget and platform choice. It also pays to investigate the exchange rate on your chosen platforms. App-based transfers usually have small fees, while banks can charge as muchĪs $65 for outgoing international transfers, explains Finder. The biggest factors to think about when sending money to the Philippines are how much it will cost, how long it will take and how convenient it will be for your loved ones to receive the money.Įvery service and money transfer method carry different fees. Fortunately, technology is helping to change that. But sending money to the Philippines isn’t always as easy or cost-effective as it could be for those involved in the transaction. sent upward of $11 billion, according to the Pew Research Center. Remittances sent to the Philippines from the U.S. ![]() Fees and rates subject to change without notice.This article was created in partnership with Western Union. Fees, foreign exchange rates and taxes may vary by brand, channel, and location based on a number of factors. When choosing a money transmitter, carefully compare both transfer fees and exchange rates. Points used will not be reversible and if amount of transfer fee is less than redeemed discount, no cash, credit or refund will be provided.ĥ Western Union also makes money from currency exchange. Excludes all other services, including without limitation, online bill payments, and money transfers via social/chat applications. (Account details may vary by country.)Ĥ Fee reductions apply only to the Western Union® transfer fee for a single Western Union Money Transfer® or Quick Collect® transaction. ![]() To avoid these fees or for reduced fees, use a debit card or check other payment methods.ģ Please make sure that the receiver’s name accurately matches the details of the bank account owner. Restrictions apply, see /gc-legalĢ If you’re using a credit card, a card-issuer cash advance fee and associated interest charges may apply. ![]()
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