6 Quick Tips for Transferring Money to The Philippines
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Have you been disappointed over the times you need to pay expensive transfer fees just to make sure your money remittance can get into the hands of your loved ones in the Philippines? Adding to your disappointment is the fact that your recipients even have to pay an additional amount just to be able to claim their remittance.
Well, if you want to erase such worries, all you need to do is use Sharemoney’s money transfer services and you can be sure to pay cheap transfer fees for your transaction.
How Cheap are Sharemoney’s Services?
The money transfer services to your loved ones in the Philippines are really cheap because it will only cost you as low as $2.99 for a remittance amount up to $2,999. Despite the very small amount we charge for your transaction, you can be assured that your loved ones can enjoy competitive PHP exchange rates when converting the US dollars to its Philippine peso equivalent.
Six Tips to Help You Choose and Use Affordable Remittance Options
Tip #1 – Make sure you use a trusted money transfer service provider
Looking for a money transfer service provider is easy but working with a trustworthy one can be a challenge. You have to make sure that the money transfer provider is legit and check their track records to ensure that you will not end up with a service that fails to deliver your money in good time. Reviews from past clients can also help you choose a money transfer service.
Tip #2 – Send it through faster avenues
There is a wide spectrum of money transfer service providers online but only a few promise to send your money to your recipients fast. When we say fast, we mean your loved ones will be able to get it in a matter of minutes. What is the point of making an urgent money transfer back home when your recipient can only access the money after 2 weeks? Speed is the name of the game when it comes to online money transfers today, so if a service provider cannot deliver money fast, you can always look elsewhere for a faster remittance. Sharemoney transfers your funds within minutes and up to several hours for the door-to-door delivery option, giving you swift service for any emergency needs.
Tip #3 – Go for a service provider that offers various delivery options
The most common delivery option that most money transfer services offer is bank deposits. However, in some places in the Philippines, a trip to the bank branch or the ATM can be a tedious affair due to unfavorable physical locations. If this is the case, you should look for a money transfer service that offers alternative delivery options such as door-to-door (home) delivery or cash pickup at better and more accessible locations. Sharemoney offers bank deposits, cash pickups, and door-to-door delivery in the Philippines, so you will always find an option that’s convenient for your beneficiary.
Tip #4 – Check the list of partner companies
Partner companies can include pick-up location vendors, bank partners, etc. If you want the money transfer to reach your beneficiary easily and quickly, make sure that the money transfer service provider is working with a large number of partner companies to help your money transfer get delivered without hassle. For example, Sharemoney has a list of cash pick-up locations and bank deposit partners for reference and this is a good example of a service provider that has an extensive network of partner companies.
Tip #5 – Remember to provide the transaction reference number for your recipient
The proof of your transaction is a unique reference number given to you by your money transfer service provider. This is either sent to you through email if you do the transaction online or will instantly appear on the webpage after you have clicked on the ‘send’ button for your money transfer. It is an important piece of information that your recipient needs, especially when they are claiming the funds from a designated cash pickup location or during a home delivery cash service. Some remittance companies will even let your recipient track your transfer in real time, provided they have the reference number. Sharemoney automatically sends you your Money Transfer Reference Number (MTN) to your inbox when you place a transaction. Both you and your beneficiary can track the transfer in real time using the MTN.
Tip #6 – Advise your recipient to bring personal identification proof with them
For recipients collecting the money through a cash pickup point or home delivery, showing proof of your identity is crucial for the money-claiming process. It is essential that you inform your recipient about this so that they will not encounter any problems while receiving their money in the Philippines.
We Have Several Money Delivery Choices for Your Loved Ones in the Philippines
The money transfer delivery choices give you variety when it comes to sending money to your loved ones back home. The delivery choices include:
- Bank Transfer. This is perfect for your loved ones who have their own bank accounts in our partnering banks. We have partnered with the country’s major banks including Banco de Oro (our main bank partner in the Philippines), Metrobank, Bank of the Philippine Islands and Philippine National Bank among others.
- Cash Pickup. When your loved ones need the money urgently for a particular purpose, the cash pickup option might just be the delivery method you can make use of. We have cash pick up locations all over the Philippines.
- Door-to-Door Delivery. For your loved ones who do not have bank accounts and do not have time to go and claim the remittance you have sent, you can choose the door-to-door delivery option. If you are sending money to your loved ones in the metro areas, they will be able to receive the transfer within 6 hours. For areas other than those listed on our page, do expect a 24-hour waiting time.
How to Start Using Our Cheap Money Transfer to the Philippines
You need to either have a bank account or a credit card/debit card to facilitate your cheap money transfers to the Philippines. If it is your first time in using our services, you need to create a free account in our website. Fill up the form and wait for verification, and this can be in a matter of minutes.
When you are verified, you can choose to use funds in your bank account to fund your money transfers, but note that this will take up to 3 business days. You can use your credit card too but this can cost you more since there will be additional charges made by your credit card company for the transaction you have made. This is why we recommend that you use your debit card instead. This will cost you less money and less time to process the transaction. For most cases, once you have completed the transaction, your loved ones in the Philippines can receive the remittance in minutes.
