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This topic is basically addressed to OFWs and resident aliens who regularly send money back home to their families and loved ones in the Phils. Various modes of remittances are available in the host countries using the banking or non-banking channels.

 

Your thoughts/ suggestions/ recommendations are welcome. :cool:

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This topic is basically addressed to OFWs and resident aliens who regularly send money back home to their families and loved ones in the Phils.  Various modes of remittances are available in the host countries using the banking or non-banking channels. 

 

Your thoughts/ suggestions/ recommendations are welcome. :cool:

 

pag madalian, "western union" or "moneygram", bracketed ang service fees nila.

 

minsan paki suyo sa co-workers mo. nde naman sila sumablay sa pag hatid, talagang thru "word of honor" lng.

 

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Guest buru_tus

sa Middle East

 

our local banks made arrangements with Middle Eastern Bank to act as correspondent banks

 

they charge bank transfer fee usually in the range of $3 to $6 for bank to bank, door to door, bank to pick up

 

transfer time varies from 6hrs to 2days!!!

 

dun sa bank na pinapadalhan ko, I usually make the transfer at 7PM, local time (12midnight pinas time) by the time na magbukas ang branch ko at 9AM, naka credit na yung money.

 

BPI pala bank ko, they have toll free numbers practically all over the world, so you can do phone banking anytime anywhere, aside from their online site pa

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sa Middle East

 

our local banks made arrangements with Middle Eastern Bank to act as correspondent banks

 

they charge bank transfer fee usually in the range of $3 to $6 for bank to bank, door to door, bank to pick up

 

transfer time varies from 6hrs to 2days!!!

 

dun sa bank na pinapadalhan ko, I usually make the transfer at 7PM, local time (12midnight pinas time) by the time na magbukas ang branch ko at 9AM, naka credit na yung money.

 

BPI pala bank ko, they have toll free numbers practically all over the world, so you can do phone banking anytime anywhere, aside from their online site pa

 

Dami ring mga cargo companies dyan doing door-to-door deliveries. Are they still strong in your area considering the on-line services now offered by local correspondent banks?

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pag madalian, "western union" or "moneygram", bracketed ang service fees nila.

 

minsan paki suyo sa co-workers mo. nde naman sila sumablay sa pag hatid, talagang thru "word of honor" lng.

 

 

add ko lang...usually pag semen, este seaman ka, required ka na half of your salary is sent home to allotees, which can be yourself with either your wife, kid/s, immediate family, even your girlfriend, all depending on the arrangement you did on paper.

 

kaya lang, we all know how the dollar bank rates are with banks as compared to money changers, but the good part of it is they deduct sss on a designated allotee, kaya may maasahan ka someday sa sss...

 

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Guest buru_tus
Dami ring mga cargo companies dyan doing door-to-door deliveries. Are they still strong in your area considering the on-line services now offered by local correspondent banks?

 

they are trying to compete by offering a slightly higher exchange rate being used by the banks

 

but still, BANKS are more reliable, kapag nagkaroon ng problem sa transfer madaling mahabol!!!

Edited by buru_tus
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they are trying to compete by offering a slightly higher exchange rate being used by the banks

 

but still, BANKS are more reliable, kapag nagkaroon ng problem sa transfer madaling mahabol!!!

 

In Hawaii, Guam and Saipan the banking system is still the more popular way of sending money in PI. Pro lumalaban ng sabayan ang mga FX and cargo services by accepting local checks hindi pa cleared ina accomodate na depending on how well they know their clients. In effect, nagpapaluwal sila ng pera and comparably competitive din ang exchange rate and service fees vs. the local banks.

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In Hawaii, Guam and Saipan the banking system is still the more popular way of sending money in PI. Pro lumalaban ng sabayan ang mga FX and cargo services by accepting local checks hindi pa cleared ina accomodate na depending on how well they know their clients. In effect, nagpapaluwal sila ng pera and comparably competitive din ang exchange rate and service fees vs. the local banks.

 

we just help them to launder illegal money mas ok pa din banks

or western union dude :)

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sa states naman... FOREX is perhaps one of the biggest money remittance companies here... pwd sila door to door or they will deposit the money to any bank in the Phil where you're relative has an account... fee is from $10 and up... wala bang mas mura

 

If you find a foreign branch of a Phil. bank in your area, probably you can find it cheaper to remit using their on-line facilities (if any), but it is advisable to have an account with a local branch of that bank in the Phils.

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May OT question ako. How do you send medicines to the US? Pwede bang gumamit ng Fedex or DHL?

 

 

Pwede. You need to fill out a customs declaration form (available in DHL). Sometimes, it is required that you show a valid prescription for the meds.

 

Price is pretty steep thouugh - around 2K pesos. My family just sent me some meds from Pinas a few weeks ago and thats how much they paid.

 

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sa states naman... FOREX is perhaps one of the biggest money remittance companies here... pwd sila door to door or they will deposit the money to any bank in the Phil where you're relative has an account... fee is from $10 and up... wala bang mas mura

 

Thats the going rate I guess. Not unless "on sale" ang services nila - they have the sales around Christmas. Actually mura ang ten bucks. Where im at its 15.

 

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One time, my parents were here in the US on vacation. I signed a bunch of blank checks and sent it home with them so that whenever there is a need/financial obligation, they can just write the amount on a check and deposit it directly to their bank in the Philippines. With such, I avoid any wire transfer fees, etc.

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