Sending money to the Philippines

[HappyHardcore 0]

I'm having trouble finding a decent way to send money to the Philippines. I've tried a few different ways already.

1. My first attempt years ago was Western Union, way too expensive.
2. Then I been using Lucky Money until one day they decided to stop using my checking account, or it was my Citizens Bank that started to refuse, so I had to start using a credit card, which gets me the cash advance fee, again too expensive.
3. Finally I went to my 2nd bank at Wells Fargo and set up an international remittance account to send money to Bank of Philippine Islands (BPI). They were retards at the bank, and didn't realize how it's done. They thought it could be done where I log into my account from the bank website. Didn't work, so then they called up customer server and realized the first transaction needs to be done at the bank. Ok, did that, but then still problems later. Finally found out need to go into the bank every time, or make a phone call to customer service every time I want to transfer money. Big hassle. Then later, for no reason, I notice my remittance account is closed. Maybe cause I wasn't using it enough? I don't know.

Going thru a local branch here seemed to be the most secure and cheapest way, but had way too much hassle and sometimes didn't work. Going thru websites was easier, but more expensive.

Limits:

Lucky Money: $1k/month

Xoom: $3k/month

Wells Fargo: $3k/day

So now I'm trying Xoom and having problems.

1. I tried Citizens bank first, with routing number and account number off my checks, but transaction canceled with no reason. So I contact them and they need to verify my ID with copy of this and that. So ok, I did that, verified my ID, but transactions still canceled. I call up Xoom again asking what the problem is and they said I need to tell my bank to authorize the withdraw. So I call up my bank customer service, and they said go into a local branch to sign authorization. So I go to a local branch, and they are unaware of any papers to sign for authorization. I explained how the websites worked, with routing/account number, etc etc, but my bank insisted that pre-auth is not required if I have the routing and account number. So I asked if there is daily limits? They said no.
2. Went back home and tried my 2nd bank Wells Fargo using checking account routing/account numbers, same problem, withdraw/transfers being rejected.
3. Tried to use Paypal, which is linked to my Citizens Bank and been using that paypal for years now with random ebay shopping. I didn't want to go this route cause its $40-60 fee to send when funds come thru Credit Card or Paypal when transfering from Xoom. But now even Paypal is is flipping out saying that Im spending too much.

I hear the post office can offer services, but only up to $2k/day and anything over $1k for single transaction needs paperwork to fill out. I'm not interested in filling out paperwork.

I am trying to send a large ($1-3k) at a time. About to start building a house over there for about $10k which might take 3-4 months to build. I assume all this paperwork stuff is ways for the government to find more ways to tax me or something, dunno. Banks and websites getting real paranoid with large amounts of cash. Just same, its not like I'm trying to transfer $100k or anything.

Yes, I have more than enough funds in my accounts. My credit cards are used each month, and paid in full, with zero balance again. My credit scores are around 815. What is the problem with using my own cash? Its not like I'm applying for a loan, or lower interest rate. Its cash!

I remember long time ago hearing about some bank that has an ATM card that can be used around the world with little or no fee for withdraw. Is that possible? What bank would let me to create an account over here, then maybe FedEx the ATM card to my Filipina so she can withdraw the amount I put in?

Are there any other websites that are easy and inexpensive? I'm tired of jumping hoops and paying big fees just for trying to send money. Worse case senario is send more money thru Lucky Money using my credit card and paying the big cash advance fee again, just to get by until I figure this out.

Who else sends money to the Philippines? (I bet everyone that is petitioning a Filipina) Whats the best way to send/rec money?

Sorry for the long read. Hope some others can relate and advise to what I'm going thru here.

[tallcoolone 102]

I used PLS Check Cashing places that had Western Union

Charge was $12 per transaction...

[Marina-Del 10]

I remember long time ago hearing about some bank that has an ATM card that can be used around the world with little or no fee for withdraw. Is that possible? What bank would let me to create an account over here, then maybe FedEx the ATM card to my Filipina so she can withdraw the amount I put in?

Sorry I can't answer your other questions, but I do know what bank you are talking about. It's HSBC. I lived in London for about 3 years and they are everywhere there -and everywhere here in Brazil as well.

I had a bit of trouble finding an HSBC branch in the US, but I think that must have just been my city as I have heard they are quite common in the US as well. Anyway, my HSBC account in London cost me 13 pounds a month (a little less than $30) and I had a credit card and a debit card. With my accont I could withdraw up to 500 pounds a day (about $1000) from any ATM anywhere in the ENTIRE world! WITH NO FEE!

You have to call customer service of course and tell them what countries you would be taking money out in, otherwise they will cancel your card (like most banks) until you assure them it is you taking out the money! Also, they do not guarentee that the card will work anywhere in the world! They say that it will most likely work in other countries, but they can't gaurentee it (that's just something you'll have to talk to them about!). From experience, I have never had my HSBC card not work. I've used it in London, USA, Italy and Brazil (not just from other HSBC ATMs either. I used the card at lots of different banks all over Italy and the USA and it worked every time).

Hope this helps! Good luck!

Edited March 20, 2009 by Marina-Del

[baron555 934]

I'm using iKobo to send Alla money in Russia. Works like a champ and fees seem decent.

[belovedbyme 0]

I used XOOM and have no problem with it. www.xoom.com.ph is the site not the www.xoom.com. You have an options to send it at any designated areas like BDO, Cebuana. Sometimes it can cause problem once you send it thru bank to bank so it will asked someone's account.

[HappyHardcore 0]

Looked for PLS and HSBC in my area, and none near by. Appreciate the help.

[belovedbyme 0]

You better open an account like ATM (visa) under your name in USA then give it to your fiancee in the Philippines. I did it too to send money to my wife so I dont need to pay anything to deposit some money.

[johndecka 0]

"I am trying to send a large ($1-3k) at a time. About to start building a house over there for about $10k which might take 3-4 months to build. I assume all this paperwork stuff is ways for the government to find more ways to tax me or something, dunno. Banks and websites getting real paranoid with large amounts of cash. Just same, its not like I'm trying to transfer $100k or anything."

U filed for K-1?

Just for some advice. Do u plan to live in Philippine? or ur building house for ur gf / her parents?

If u have plan to build the house there, ITS BETTER FOR U tO BE THERE IN PERSON TO SEE and Check MAke Sure

It's being Built.

JUST think abt ith Before u just trying to send money.

if u must , u should bring bring the TRAVELLER"S CHEQUE to philippine in person.

That way u it could get there once and u know the plan, and could talk to the ppl who will build the house.

[payxibka 10,045]

moving to PI forum

[javafox 0]

i use xoom to send money to my fiance to the philippines. i have a limit of $3k a month..but i dont send that much just $100 or $200 a month. when i do send it, i dont use my checking account with my routing number, becuz it takes 4 days to clear, so i use my debit card with a service $8 so it will be der in his account which he uses BDO in 24 hours. but of course the fee is not the same it all the depends how much u send pesos or dollar account..to me i rather use this service cuz of the convienence. i go online to do this rather have to drive to a remittance bank to send money. i did use wells fargo bank to send but dey only have BPI no charge, but when my fiance goes to pick up the money at that bank dey charge him a fee more than my service fee..so i stop using it. hope this helps..

[HappyHardcore 0]

"I am trying to send a large ($1-3k) at a time. About to start building a house over there for about $10k which might take 3-4 months to build. I assume all this paperwork stuff is ways for the government to find more ways to tax me or something, dunno. Banks and websites getting real paranoid with large amounts of cash. Just same, its not like I'm trying to transfer $100k or anything."

U filed for K-1?

Just for some advice. Do u plan to live in Philippine? or ur building house for ur gf / her parents?

If u have plan to build the house there, ITS BETTER FOR U tO BE THERE IN PERSON TO SEE and Check MAke Sure

It's being Built.

JUST think abt ith Before u just trying to send money.

if u must , u should bring bring the TRAVELLER"S CHEQUE to philippine in person.

That way u it could get there once and u know the plan, and could talk to the ppl who will build the house.

Thanks for your concern, and I absolutely understand your point of view, with the lack of information about my situation.

I filed for K1 over 3 years ago... long story.

Plans changed, and we decided to have a family in the Philippines instead. I helped her to start a small store already, but she still lives at her parents. I've visited several times already, for a month at a time each. We even tried to make a baby on my last visit, but didn't succeed, yet. We talk on the phone 5 hours a night. She emails me 10x per day. And we have video chats on the weekend. Her family, friends, and neighbors all vouch for her. I have no bad feelings in this relationship.

Usually $200/month has been enough in supporting her, which she also extends that to help feed her parents, etc. But now we're looking at building a house. Even Xoom's limit of $3k/month would be enough considering the $10k house would take 3-4 months to build anyways. I know every time I visit her, I can legally carry up to $10k cash on me, but I usually only bring $2k cash each time.

I appreciate your concern. I feel very confident in this relationship. Just trying to find a good way to send money, consistantly and cheaply, and also for the short term in large amount for a house.

I looked at ikobo, but it appears they have $1k limit, withdraw fees in addition to my deposit/send fee. Its almost what I'm looking for, and might even be a last resort.

I'll have to talk to Xoom to find out exactly why the money is refusing to come out of my checking account. My bank swears there are no limits or auth required. Maybe Xoom is comparing against some old confirmed mailing address from one of the three credit bureaus or something stupid like that.

I'm still open to some good suggestions here. Lucky money has worked for about 3 years already until I was forced to switch to using credit card (once again, problem with checking, maybe its routing or something), and credit cards get dinged for cash advance. And the $1k/month at Lucky Money isn't enough to build a house within this year.

I plan to visit again asap when the house is complete.

[Tahoma 2,292]

Here is how my fiancée and I worked it:

> I opened a joint account at Wells Fargo Bank (an account under both of our names).

> I sent my fiancée a debit card for the joint account, so she could withdraw cash from any ATM in the Philippines.

> I would transfer money online, as needed, from my Wells Fargo account to our joint account.

> My fiancée would withdraw cash from any ATM, as needed.

> The cash withdrawal fee was $5. for each withdrawal.

> The daily cash withdrawal limit on the ATM card was $310.

> ATMs in the Philippines would allow my fiancée to withdraw up to P10,000. (about $200.) per transaction.

> If my fiancée withdrew any amount over $200. (up to the $310. limit) in a single day, it would require two separate transactions. The total transaction fee for these two withdrawals would amount to $10.

The only problem we had with this system is that we were charged with three ATM withdrawals in a single day for a total of $600. (plus $15. in transaction fees), when in reality, my fiancée made only one ATM withdrawal (for $200). Wells Fargo currently is investigating this issue.

Normally, my fiancée would periodically withdraw P10,000. and deposit most of the cash into her account at BPI for her use throughout the month.

[-B&T- 1]

I have been using xoom for almost 3 years now to my mother's Bank account and had no problems at all just using my Debit card. If you just signed –up with xoom and you want to send big amount like $3000.000 they will need to collect information from you that is a Federal law requirements to any money remittance centers to verify your identity because of the so many illegal activities around like money laundering or funding a terrorist organizations .Start with small amount first like less than a thousand dollars and you will be ok.

[raquel_1208 1]

If you really want to save on transfer fees, paperwork will need to be done first. I recently used BPI Express Remittance Center here in LA and they only charged me $7 for $3000 money transfer to a BPI account in the Philippines. I also have a Citibank Account where you can apply for Citibank Money Card wherein you go to the bank and fill up forms for the person you want the atm to be sent to abroad. You can transfer money on it online for a maximum of $1000 or you go to Citibank ATM Machine if you want more than $1000 to be transferred. Each transfer will cost you $8.

Here is the the website for BPI if you want to find the Remittance Center nearest you. They only have a few here in the US so this might or might not work for you.

www.bpiexpressonline.com

[rheanick 42]

I use wire transfer.

For BPI, their US counter part is JP Morgan thus wire transfer would be faster. If another bank, wire transfer is 3 - 5 days.

You could open a joint dollar account in the philippines. Use that account to wire transfer money (from US to philippines). I wont suggest wire transfer of dollar to a peso account in the philippines coz you would loss some money on the conversion. With the dollar account in the philippines, she could withdraw in thousands of dollar. Some bank requires heads up of withdrawal, some don't.

Hope this help.