Posted on by Victoria D.

The Philippines comprises over 7,000 islands and is the second-largest archipelago in the world. The country has also been recognized as one of the fastest growing countries in the world and a well-known tourist destination. Many vacationers and travelers alike flock to the paradise island of Boracay every year. It is easy to see why Philippines has a GDP of nearly $349 billion.

With that, the country is a major exporter of electronic products, garments, transport equipment, fruits, coconut oil, petroleum products, and copper products. It also actively trades with countries including Thailand, Taiwan, Germany, the Netherlands, Singapore, Japan, China, Hong Kong, the United States, and more.

It is pretty common for Filipinos and Filipinas to work abroad, in countries like the U.S. In addition, they regularly send money remittances back home to their loved ones. At Sharemoney, we make sending money to the Philippines easy, especially if you are sending money to a Insular Bank account.

About Insular Bank

Insular Rural Bank, Inc. was founded by the Majalco Group and is one of the fastest growing banks in the Philippines that has obtained high CAMELS ratings. This achievement often indicates that the bank is fundamentally sound and is compliant with all BSP regulations. Since the bank’s inception, it has been providing a wide range of banking products and financial services, which includes business loans, Makaguro loans, savings and time deposit accounts, and more.

Bank Swift Code: ISVBPHM1

Helping You Send Money Remittances to the Philippines

At Sharemoney, we work with a great array of banks in the Philippines, to give our customers complete peace of mind when they send money to their loved ones back home. Apart from taking advantage of our cash pickup locations, you can opt for the bank deposit method. With that in mind, one of your options includes Insular Bank, and you will be able to send up to $2,999 for a low fee that only starts from $3.99. What’s more, we offer winning USD to PHP exchange rates.

Easy and Convenient Money Remittance Procedures

Before you can begin initiating money remittance transactions, you are required to register an account with us. Do not fret as the registration procedure is simple and only takes a few minutes to complete. While signing up, always check to ensure you have given us accurate information about yourself. Once you are past this stage, future transactions will be smooth sailing and take up less time.

Choosing Your Preferred Funding Option

The main funding options that Sharemoney offers include funding by debit card or credit card. With credit card funding, your credit card company will also be charging you a fee that corresponds to the value of your transaction. If you are looking for a cheaper and more straightforward funding option, you should definitely consider paying through your debit card.

If you wish to know more about how Sharemoney services work, do not hesitate to check out our “How It Works” page for more information.

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