Living out of your home country makes you think more about your loved ones. The Philippines out of the country want to send money online. Send money to the Philippines is now at the doorstep with the advent of the internet. Send money online is the quickest, faster and reliable source.
The World Bank shows that the remittances ratio for the low and middle countries is reached to the high record in 2018. The bank estimates the officially annual recorded remittance flows to low and middle-income countries is $529 billion in 2018 which is a great increase of 9.6 percent more than in 2017.
Among countries, the top listed remittance countries are India with $79 billion, followed by China with $67 billion, Mexico with $36 billion, and the Philippines with $34 billion and Egypt with $29 billion.
Challenges and Hidden Factors
The rapid rollout of mobile services and online money transfer sending increases the subscribers near to 128 percent in Philippine. The factors that affect the AUD to PHP exchange rate shows that one should know about the remittance. There is a vast change in the exchange rate of Australia to the Philippine.
Geopolitical activity is another factor that sometimes influences the exchange rate. The political activities directly give rise or fall to the currency rate. When President Duterte was negotiating a trade deal with China and Russia in 2017, the Philippine peso became less valuable against all the major currencies.
Best ways to send money to Philippines online
The best possible ways to send money are:
Send money to the Philippines through Banks
The recipient can easily use the bank service. If he has a bank account with Automated Teller Machine (ATM) card conveniently withdraw the cash any time. The banks can either deliver the money to your home or from the pick-up locations. Many banks facilitate their customers to send money online from anywhere to the Philippines. The popular banks that are providing the transaction exchange money are:
- BPI Remittance.
- Citi Bank
- Equitable PCI bank Express Padala.
- PNB Europe
- PNB Europe.
- PNB Rapid Remit.
- RCBS Tele money
- Security Bank.
Send money to the Philippines via Money transfer agents
Money sending online to the Philippines is well-founded through money transfer agents. Western Union Money Transfer, LBC pick up and MoneyGram are the most feasible transfer agents to send money. These agents have their websites to send money online, or you can simply go to the nearest outlet and send the money through their offices at very low rates.
Claiming of money is quick, secure and productive. Money transfer services are affordable and handy. They are the best solution for the people of the Philippines to send the money to their family, friends and loved ones. The service to send money online at best exchange rates all over the world is given below.
- Atlas Xpress Padala.
- FX Remit
- Ikobo Lucky Money
- MoneyGram international
- Smart Padala
- UK MoneyGram.
- Wells Fargo
Ace Money Transfer
ACE Money Transfer is the most significant sending money to all over the world including the Philippines. It offers guaranteed exchange rates.Ace A Money Transfer has facilitated its customers in multi-direction. They launched the Ace Money Transfer App to communicate all over the country with ease for online transactions.
Ace has gained the popularity and trust of Asian and Gulf communities which resulted in an increased rate of payments in Pakistan, Bangladesh, India, UAE, Romania, and the Gambia over the last couple of years.
Ace is taking the steps to introduce more features for the customer’s satisfaction. ACE vision is to provide the online community with high standard services.
Send Money Online to the Philippines from Anywhere
Coins. Ph is an amazing, affordable and secure money transfer service for sending and receiving remittance from anywhere in the world. More than 5 million Filipinos are using Coins.Ph. They offer remittance centers, banks, cardless ATM and door-to-door delivery. They have a competitive cost structure along with secure integration.
Send Money by Using Wire Transfer
Wire Transfer sends the money online with transparency. You need to create a dollar account at the bank in the Philippines and then start transferring your money to your home. Mobile app services help the consumer to easily track the transaction
The Philippines are randomly using various money transfer services to send money. The online world pushes up the business of money exchange to the level of the high zone.
Procedure to make a money transfer to the Philippines on a Budget
One of the worst conditions through which many people moving to a new country is to keep yourself under the budget. There are many ways to adopt. You need to be alive for many months without jobs. Bill needs to be paid in time. The best way to ensure your safety and financial status are to transfer the money to the Philippines before you move to the other home. You must know the cheap way to do so.
The first thing that you need to know is the use of money in this country. The Philippines currency is peso instead of U.S dollar which is equal to 0.21008 USD. The peso is divided into centavos. You must have money exchanged into the proper currency.
The first work you need to do is to open your dollar account from a bank like Philippine National Bank. This will give you direct access to easily use your currency. You have a direct deposit into a bank.
Another method to make money transfer to the Philippines is to keep the current account and open another. You can send money from the U.S account to the new one at low rates.
It is important to go through all the available options before transferring money. Compare the exchange rate; this will help you to utilize your budget more reliable. Some providers are using the state of the art technology. To understand the needs and go for the best option.
One thing that you need to ensure the record of the transaction. This will authenticate the transaction and can be used for the future.