Sending money

[DocZ 20]

On 5/1/2018 at 4:05 PM, nick6147 said:

Hello all, I was wondering what anyone thinks is the cheapest way to transfer money to a loved one overseas. I plan on this being a regular event in the future so I want to find the best way. Any way to deposit usd to a foreign account for a fair exchange rate? Thanks 

I have sent with Western Union, Xoom, Paypal, and TransferWise, and my WellsFargo bank account. I usually send amounts of $500-$2000 at a time.

 

Transferwise, for me, was by far the best. Use a debit card, and it is transferred fast, with low transaction fees and excellent exchange rate. It is important to factor the exchange rate into the cost. When you send a $1000, a 1% change in the exchange rate is $10... so a company might have a low fee, but make up for it with a couple percent higher exchange rate.

 

Xoom was a terrible experience for me -- they kept holding my money, was demanding to have documents for my wife and brother in law before they would release my money after taking it out of my account (they were in an area that it would be hard to scan the documents, would have been time consuming and we needed to transfer the money fast), and had a high fee. 

 

Or... Bitcoin. JK!

 

Edited May 10, 2018 by DocZ

[Hank_ 9,174]

Even with the fee that is a good deal, if the exchange rate is always that good.   Impressive

[deafguy72 99]

On 5/2/2018 at 4:40 AM, Hank_ said:

Cheapest?  Hmm.

 

Of the ones I have used cheapest is REMITLY   

 

Remitly is 0 fee and the exchange is better

XOOM - their fee is $4.99 exchange rate is worse than Remitly

 

Company	Pay with Bank Account	Pay with Debit Card
Remitly	$0 Economy	$3.99 Express
Western Union	$3.99	$7.00
Xoom	$4.99	$5.99

Remitly is so awesome! Thank you Hank for this info 

[Chris Duffy 1,257]

I will be in Philippines soon, if anyone wants to send me money I will accept.

 

Don't matter if it Xoom, WU, Remitly, Money Gram...................

[deafguy72 99]

17 minutes ago, Chris Duffy said:

I will be in Philippines soon, if anyone wants to send me money I will accept.

 

Don't matter if it Xoom, WU, Remitly, Money Gram...................

   I compared with Xoom and Remitly to send. Xoom is at 49.9 rate compare to 53 and receives 500 pesos more. 

[Chris Duffy 1,257]

7 minutes ago, deafguy72 said:

   I compared with Xoom and Remitly to send. Xoom is at 49.9 rate compare to 53 and receives 500 pesos more. 

So you are saying I can expect a monthly allowance?

 

God Bless, Sige Sige

[Talako 785]

2 hours ago, Chris Duffy said:

I will be in Philippines soon, if anyone wants to send me money I will accept.

 

Don't matter if it Xoom, WU, Remitly, Money Gram...................

Go to a WU office at the beginning of the month and wait for my text...

[Chris Duffy 1,257]

27 minutes ago, Talako said:

Go to a WU office at the beginning of the month and wait for my text...

oo

 

We have a medical emergency and need to get to doctor, it is high fever and high blood and possible Wet Lung

 

 

Edited May 11, 2018 by Chris Duffy

[Milmauka 80]

Time to bring this thread back to life.  

 

I was reading through the earlier posts and everyone hates on WU, but that was 2-3 years ago.  I have used Remitly only once, as they gave a really high conversion rate just to sign up and use once.  Since then, Remitly conversion rates do not come close to WU.  WU currently does not charge any fees or service charges when sending money to and from a bank account.  I have had 1 or 2 issues with them taking forever to execute the transaction, however they did not deduct money from my account so not really an issue except for having to wait.  So my vote is currently for WU.

 

What are you folks doing in this time of Covid and sending unemployment insurance cash to the phils?

[payxibka 10,045]

6 minutes ago, Milmauka said:

Time to bring this thread back to life.  

 

I was reading through the earlier posts and everyone hates on WU, but that was 2-3 years ago.  I have used Remitly only once, as they gave a really high conversion rate just to sign up and use once.  Since then, Remitly conversion rates do not come close to WU.  WU currently does not charge any fees or service charges when sending money to and from a bank account.  I have had 1 or 2 issues with them taking forever to execute the transaction, however they did not deduct money from my account so not really an issue except for having to wait.  So my vote is currently for WU.

 

What are you folks doing in this time of Covid and sending unemployment insurance cash to the phils?

Xoom

[Milmauka 80]

Xoom = 48.76

 

Remitly = 49.15

 

WU = 50.10

[TVC 244]

I use paypal. It's only 49 to the dollar and a 4.99 fee but it's easy.

Edited May 17, 2020 by TVC

[payxibka 10,045]

8 hours ago, Milmauka said:

Xoom = 48.76

 

Remitly = 49.15

 

WU = 50.10

I'm not going to loose any sleep over a 2 to 3 cents or so

[Allovertheworld 355]

I was using paymaya in Philippines.  It was like 15 or 20 peso per transaction.  Just go to a 7-11 and send from there, it was so easy.

 

I have not checked to see if you can use paymaya in US to PI transfer, does anyone know?

 

 

[John & Rose 7,239]

6 hours ago, TVC said:

I use paypal. It's only 49 to the dollar and a 4.99 fee but it's easy.

Easy and expensive!  $4.99?