Best way to send $2000

[Dean_De 61]

Ok, now I have re-thought my thinking. WU is the cheaper way to go!

to send WU via an agent (i.e. in person), the fee for $2,000 is only 31. On the internet, the fee is like $130. (OUCH!!) Also, if you have a friend in the military, often it is cheaper with a Military ID than for you. So I don't think I will be using XOOM anymore... ouch on the fees that XOOM makes by just changing at a 1PHP lower rate!

what about military id?

[southcalhog 43]

Ok, now I have re-thought my thinking. WU is the cheaper way to go!

to send WU via an agent (i.e. in person), the fee for $2,000 is only 31. On the internet, the fee is like $130. (OUCH!!) Also, if you have a friend in the military, often it is cheaper with a Military ID than for you. So I don't think I will be using XOOM anymore... ouch on the fees that XOOM makes by just changing at a 1PHP lower rate!

I cant say about WU, but Moneygram you bring your ID(s), 1 time.they then issue you a moneygram card for FREE! everytime my Fiancee picks up money, she just show the ID card they made and gave her, its that easy! plus Moneygram is ...hummm a couple of Dollars or MORE, cheaper than WU!

[tallcoolone 102]

Again, for some reason, the vehicle for sending $$ is VERY personal, and people take pride in the way they send, and make it a part of who they are. Xoom, WU, ATM, PayPal, bank-to-bank, and using street money changers.... Everyone has a strong opinion, but that does not mean there is ONE best way to send money. THERE IS NOT ONE BEST WAY. Each person has to find the best way for them.

Sending Money to the Philippines gets old. I had to do it for almost 2 years. I put my wife thru college, rented her an apartment, was her mommy and daddy and sole provider for a long time.

You guys who only have to send money to PI for a few months got it lucky................

[gretchen_darren 67]

actually for me, I prefer xoom. very cheap compared to the rest. Also, I can call and find out exactly where and what branch the money was picked up at, plus I know exactly when the money was picked up. But that is just me. Trust but verify.

[chrisandy 0]

try xoom.com its waayyy cheaper than moneygram and western union. u can claim the money in bdo,cebuanna lhuller etc.

[DavenRoxy 1,073]

actually for me, I prefer xoom. very cheap compared to the rest. Also, I can call and find out exactly where and what branch the money was picked up at, plus I know exactly when the money was picked up. But that is just me. Trust but verify.

try xoom.com its waayyy cheaper than moneygram and western union. u can claim the money in bdo,cebuanna lhuller etc.

Well, I used to think that way too, but WU charges $31 to send $2,000. And XOOM charges $5.99 (up front), and there is a 2,000php exchange fee loss on the back end (when the money is picked up). Currently, that 2,000php loss is equal to $46.40, so total you spend $52.39, or $21.39 more than XOOM.

[gretchen_darren 67]

I send my girl money all the time via xoom. She has not been charged once for money pickup. NADA, zilch. However, I also state it is available ion PHP funds. Not in US currency. This may be where you are getting burned. If you do not send in local currency, there is an exchange on the back-end which must be paid. To date, I have always sent in PHP and there has never been a fee assessed to her.

[DavenRoxy 1,073]

what about military id?

You can get it done cheaper with a military ID, they offer a discount. I friend of mine used to send via WU all the time, and she had a soldier do it for her cuz it was cheaper.

[DavenRoxy 1,073]

I send my girl money all the time via xoom. She has not been charged once for money pickup. NADA, zilch. However, I also state it is available ion PHP funds. Not in US currency. This may be where you are getting burned. If you do not send in local currency, there is an exchange on the back-end which must be paid. To date, I have always sent in PHP and there has never been a fee assessed to her.

But there IS a fee, you are just not seeing it, as I did not see it before. But it is plainly shown on their website... when we started talking about this, the PHP to USD rate was 43.03. Xoom's exchange rate was 42.02. So you lose 1.01php for every dollar you send; using the $2,000 for this topic, that's $46.94 lost in the transaction.

True, she won't see it as a fee, it will be invisible to her. But she won't get all the money you send. Xoom is making money on the exchange, and you are losing it. WU does not do this. You will get the bank rate using them.

[gretchen_darren 67]

hmm, never seen it. Will go back through my transactions and see if I see it. All I have noticed is the excahgne rate. Seems to be always fluctuating....

[DavenRoxy 1,073]

I noticed it... log in, and start to send some money. Near the bottom, you will see their exchange rate once you select PI. Two days ago, it was as I stated above. There is also a disclaimer on their site (I think right beside the exchange rate) that Xoom may make a profit on exchange rates.

So you send $2,000, but she only gets $1,953... hard to see the "hidden fees", but they are definitely there.

On a $600 send, you lose almost $14 in exchange rates... that makes the total cost about $20. Not sure what WU charges to send that much.

And another thing to compare... I can send via Xoom for $6 plus $46 over the internet, but WU charges $130ish for this... so it is still a better deal, unless you have a WU office close to you.

[∞♥ 17]

On a $600 send, you lose almost $14 in exchange rates... that makes the total cost about $20. Not sure what WU charges to send that much.

And another thing to compare... I can send via Xoom for $6 plus $46 over the internet, but WU charges $130ish for this... so it is still a better deal, unless you have a WU office close to you.

I have sent $700 before and WU only charged the $12 they always charge. Keep in mind that I am going to a store to send it...have never done the online thing. And I always send in USD because it seems they would burn you on the exchange if sent in pesos.

[tallcoolone 102]

I send my girl money all the time via xoom. She has not been charged once for money pickup. NADA, zilch. However, I also state it is available ion PHP funds. Not in US currency. This may be where you are getting burned. If you do not send in local currency, there is an exchange on the back-end which must be paid. To date, I have always sent in PHP and there has never been a fee assessed to her.

If you send US Dollars instead of PHP you get a better exchange rate, that probably where they are getting you.

For Western Union I only pay $12 per transaction

Thank God I am done sending money to Philippines.................

[kev_n_jena 89]

Copied from WU website:

Currency Exchange. In addition to the transfer fee, Western Union also makes money when it changes your dollars into foreign currency. Please see the Terms and Conditions portion of the web site for more information regarding currency exchange.

Payments will generally be in local currency (except that in certain countries payment may be in U.S. dollars or other alternate currency at participating locations). In addition to the transfer fees applicable to this transaction, a currency exchange rate will be applied. United States currency is converted to foreign currency at an exchange rate set by Western Union. Any difference between the rate given to Customers and the rate received by Western Union will be kept by Western Union (and its Agents in some cases) in addition to the transfer fees. Please ask a customer service representative for information concerning the currency exchange rate applicable to your transaction. You may also find out the current foreign exchange rate provided by Western Union to its customers by calling toll-free to 1-800-325-6000.

The transfer fees and the money Western Union (or its Agents) makes when it changes your dollars into foreign currency may vary based upon the payout currency that you select. Some Western Union Agents may offer receivers the choice to receive funds in a currency different from the one you selected. In such instances, Western Union (or its Agents) may make additional money when it changes your funds into the Receiver selected currency.

I called the 800 number and WU exchange rate is 41.713 compared to the actual rate of 42.92 right now. (worse than xoom and higher fee on top of that)

If I send US dollars, the recipient will need to convert them. I'm not sure what kind of rate they can get in the small province town they are in. It's basically a wash between XOOM and WU for us.

Kevin

[David-and-Mae 15]

XOOM is good. If your problem is your fiancee only having 1 ID, they have an option where you will assign a secret word for her to be able to claim her money with just 1 ID. I would suggest picking it up from BDO, and not from small town pawnshops where some remittances "accidentally disappear" or "was already claimed".