5 Underrated Strategies for Sending Money to the Philippines

Table of Contents

• 5 Must Know Strategies to Send Money to the Philippines
• 1. International Money Order Service
• 2. Mobile Wallet
• 3. Prepaid Debit Card
• 4. Door-to-Door Delivery
• 5. Online Money Transfer Service
• What Is Required for Sending Money to the Philippines?
• Things to Keep In Mind When Sending Money to the Philippines
• Some Common Mistakes to Avoid Before Sending Money to the Philippines
• Sending money without first checking the exchange rate
• Using the wrong account number
• Going directly to the bank
• The Bottom Line
• Do You Need To Find the Best Remit Exchange Rate for Sending Money Internationally?

The Philippines is one of the most popular destinations for people looking to send money overseas. This is likely because there are a large number of Filipinos living in other countries, and they often need to send money back home. In addition, the Philippine economy is growing rapidly and has a lot of investment potential.

If you're looking for ways to send money to the Philippines, there are five underrated strategies you should consider! In this article, we present these options for your consideration.

5 Must Know Strategies to Send Money to the Philippines

Below are our 5 recommended strategies that we feel you must know if you want to send money to the Philippines:

1. International Money Order Service

This is one of the most underrated strategies for sending money to the Philippines. It is also one of the oldest methods used by Filipinos. There are a lot of reasons why it is still a popular choice among Filipinos.

• It is very convenient. You can send money anytime and anywhere you want. There are no time limits, and you don't need to go to the bank. All you need is a pen and paper, and you're good to go!
• It's safe. The chances of your money getting lost or stolen are very slim. This is because when you send an international money order, the recipient will be the one to pick it up from the post office. They will need to present a valid ID before they can claim the money.
• It is very affordable. The fees are very reasonable, and you can send as much money as you want. There are no limits!

This service is provided to Filipinos living abroad by the Philippine Postal Corporation (PHILPOST) in countries including the United States, Hong Kong, Thailand, the United Arab Emirates, Japan, Brunei Darussalam, Indonesia, Singapore, Korea, Qatar, and Malaysia.

An international money order is a safe and affordable way to send money to someone in the Philippines.

If you're looking for a safe, convenient, and affordable way to send money to the Philippines, then an international money order service is the way to go.

2. Mobile Wallet

The Philippines is one of the most popular countries in the world when it comes to mobile wallets. There are many different mobile wallets available, but the most popular ones are GCash and Coins.ph.

GCash is a mobile wallet that allows you to send and receive money, pay bills, and buy loads. It's one of the most popular mobile wallets in the Philippines with in excess of 5 million users.

Coins.ph is another popular mobile wallet in the Philippines that allows you to send and receive money, pay bills, and buy loads. They have more than 5 million users as well.

What's great about these two mobile wallets is that they allow you to send money to anyone in the Philippines, regardless of whether or not they have a bank account. If you're looking for a way to send money to the Philippines that is convenient and easy to use, then a mobile wallet is your best bet.

Mobile wallets like GCash and Coins.ph are an attractive choice to send money to Philippines residents.

3. Prepaid Debit Card

If you're looking for a way to send money that's both convenient and affordable, consider using a prepaid debit card. You can load money onto the card in advance and then use it to make purchases or withdraw cash from ATMs in the Philippines.

4. Door-to-Door Delivery

This is a great option if your recipient in the Philippines is not able to go pick up the money themselves. With door-to-door delivery, you can have someone else deliver the money to your overseas receiver in the Philippines. All you need to do is provide them with the recipient's information and they will take care of the rest. This is a convenient option for those who live far from the Philippines or are busy with work and other commitments.

Another advantage of door-to-door delivery is that it is usually cheaper than other methods such as wire transfers or bank transfers. This is because the fees charged by the delivery service tends to be fairly cost effective. In addition, door-to-door delivery is faster than other methods because the money is delivered directly to the recipient's home.

Cash may be delivered door to door with many money transfer companies at no or minimal additional cost. Money can be sent to Metro Manila in less than six hours if it is sent before 3 p.m. It takes one to two days for the remaining 80 provinces, including Tawi-Tawi in the south and Batanes in the far north.

Door-to-door delivery is a great option if your recipient in the Philippines is unable to pick up the funds you send to them.

5. Online Money Transfer Service

Many online money transfer services can be used to send money to the Philippines. Some popular ones include WorldRemit, Panda Remit, and Remitly. These services are convenient because they can be used from the comfort of your own home. All you need is an internet connection and you're good to go!

When using an online money transfer service, it's important to compare the different rates and fees that each one charges. Some may have higher rates than others, so it's important to find one that fits your needs. Additionally, some online money transfer services may have sent limits, so be sure to check that before sending your money.

What Is Required for Sending Money to the Philippines?

To send money to the Philippines, you will need to have a few things in order first:

• Government-issued identification: a driver's license, passport, or social security card will do if you're sending money from the US.
• The amount of money you wish to send.
• Name as it appears on official records for the recipient.
• For cash deliveries and mobile money deposits, the recipient's physical address and cellphone number are required.
• When sending to a bank account, you must include the SWIFT code, bank name, branch name, and beneficiary account number.

Depending on the amount of the payment or the region you are sending it to, you might need to supply further information. These steps are a part of the worldwide effort to combat financial crime and money laundering (AML).

Things to Keep In Mind When Sending Money to the Philippines

When sending money to the Philippines, there are a few things you should keep in mind. First, always use a reputable company. Many companies will allow you to send money to the Philippines, but not all of them are created equal.

Below are some additional tips that can help you save more when sending remittances to the Philippines.

• Do your research and only use a company that has a good reputation.
• Be aware of the fees. Some companies will charge high fees for their services, so it's important to compare rates before choosing a provider. You may also want to consider using a service that offers fee-free transfers.
• Make sure you understand the exchange rate. The exchange rate can fluctuate greatly, so it's important to know what the rate is before you send money. This way, you can be sure you're getting the best deal possible.
• Consider using a service that offers online tracking. This way, you can always check on the status of your transfer and make sure it's going through as planned.
• Remember to keep your recipient's information safe. Never give out their personal information to anyone else, as this could put them at risk of identity theft or fraud.

Using some of the above tips and best practices can help you make the most of your money transfers to the Philippines.

Some Common Mistakes to Avoid Before Sending Money to the Philippines

When sending money to the Philippines, there are a few typical mistakes that must be avoided to minimize any potential issues. When performing this, you should avoid making the following mistakes:

Sending money without first checking the exchange rate

The Philippine Peso fluctuates frequently, so it is important to check the rate before making a transaction. Another mistake is not using a reputable money transfer service. There are many services available that have high fees and poor exchange rates. It is important to do your research to find a reliable and affordable service.

Using the wrong account number

One of the most common mistakes when sending money is putting in the wrong account number. This could be because the sender doesn't know the correct number or they put in a digit wrong. If this happens, usually the bank will automatically return the money to the sender. Sometimes, it can take a few days for the money to be returned, so it's important to make sure you have all the right information before sending any funds.

Another way to avoid this mistake is by using an online service that allows you to send money directly to a mobile phone number. This way, even if you input the wrong number, as long as it's a valid mobile phone number, the person will still receive their funds.

Many banks now offer online chat services where you can talk to a customer service representative in real time. This is a great way to double-check any information before sending money, to avoid any mistakes.

Going directly to the bank

Using the bank when sending money abroad is probably one of the biggest mistakes people make. Before making a choice, it is wise to consider your other options. You must keep in mind that bank-to-bank international transactions might be very expensive.

The Bottom Line

Sending money to the Philippines is not difficult or pricey if you are aware of some strategies that could come handy. Use the information presented in this article to your advantage, and make the most of your remittances to the Philippines!

Do You Need To Find the Best Remit Exchange Rate for Sending Money Internationally?

RemitFinder is an online service that helps you track remit exchange rates. By checking and comparing the latest remit exchange rates, you can get the best exchange rate for your money transfers. RemitFinder, thus, helps you to get the best return for your hard-earned money.

Find the cheapest rate to transfer your hard-earned money - visit our site or download the app on Google Play or Apple App Store now.