No matter where you are. There are plenty of ways to remit money to the Philippines.
There is no simple answer to say what's the best or cheapest way. It depends on where you are, how much you are sending, how soon you want the recipient to get the money, and in what currency(Pesos or Foreign currencies) you want the recipient to receive.
Most common ways:
Money Transfer | Western Union
You can choose to send money online, over phone or you go to Western Union agent location in person.
You can send money to the recipient directly, or send to a certain bank account. You can choose 'Money in minutes' which would allow recipient to receive money almost instantly, or use a slower option with lower transaction fee.
It's the direct competitor of Western Union. With fewer locations for sending and receiving money but the transaction fees can be lower than Western Union.
An internet-based company where you send money online, and it is either deposited in a bank overseas where the recipient can withdraw it, or a courier delivers it, in cash, to the recipient's home. Focus is on remittances to Asia. According to the company's literature, "Remithome (Welcome to remithome) is a convenient, affordable and secure online remittance company that provides money transfer services to Asian immigrants and others from the United States to Asia. Accessible from any Internet connection, remithome offers consumers the highest value for a low flat fee. Remithome believes in creating long-term relationships with its customers, is rooted in Asian culture and is dedicated to serving the Asian community."
Pros: More affordable than wire services like Western Union and MoneyGram, and convenient for the sender.
Cons: Slower than wiring money, though for a few extra dollars you can get expedited service. Relatively new and untested company. Feedback at the ASAWA forum, however, has been generally positive.
Cash Pickup 9,101 Branches
Pick up money in minutes at Banco de Oro (BDO)
, Bank of the Philippine Islands (BPI)
, Cebuana Lhuillier
, Globe GCASH REMIT
including Globe Telecom centers, MLhuillier
, Philippine National Bank (PNB)
, SM Malls, SaveMore Supermarkets,Tambunting,Villarica, and rural banks. Cash Pickup is generally available in minutes at most locations. Many Cebuana Lhuillier and MLhuillier locations are also open 24 hours a day, 7 days a week. Bank Deposit View Banks
Fast deposits to any bank account in the Philippines. Deposits in minutes to Philippine National Bank (PNB)
and Banco de Oro (BDO)
. and deposits in just a few hours to Metrobank
, and Bank of the Philippine Islands (BPI)
. Door-to-Door Delivery Rush Delivery
in 6 hours or less to Metro Manila at no extra cost! Fast delivery within 1 to 2 days to most other provinces.
http://www.atmcash.comReceive Money at Virtually any ATM in the Philippines
- Send money online 24/7 at your convenience
- Cash available at over 1.5 million ATMs in 150 countries
- Low fees - send $1,000 for as low as $5
- Add money in less than 30 seconds
Door to Door Delivery: Cash delivered right at the doorstep of the recipient within 24 hours.
Deposit to Bank Account: Deposit-to-account is available to accounts held at major banks in the Philippines.
Pick Up Service: Recipients can claim their remittances throughout WDS or Mlhullier payment centers
Telegraphic Transfer: This transaction takes 3-5 business days.
Strangely, when I tried to send money through their website, it displays the following message:
This will exceed your maximum sending limit of $300.00 for this 90 day period. The maximum amount you can send in this transaction is $300.00. Please adjust the amount or contact support for additional options.
Wells Fargo Bank
Unknown to many OFWs in the United States, Wells Fargo Bank offers a very good option to almost instant money transfer to the Philippines. Their option is especially suitable for small amount money transfer to the Philippines as the transaction fee is only $3.5, although the exchange rate is worse than the rate you can get from a Money Changer in the Philippines.
The transfer can be done either online or at branch offices.
People in the Philippines can receive the money either through a bank account or in person (like the way of Western Union).
The best option to send small amount money to the Philippines from the United States.
There are certainly other options but above options seem most popular and most economical.