Money Transfer Options

[Michael and Milahjean 0]

We see many suggestions and recommendations regarding money transfer to the PI. We'll add one I don't see mentioned very often.

PNB has offered money transfer services through their PNB Remittance Centers located in major cities in the US for years. It had been mostly mail in where the sender mails a personal check or money order (faster) to the US branch office, then the money is either desposited in a PNB account or can be held for pick-up by the recipient at a specified PI branch location. This transaction had previously required almost a week or more to complete.

We've signed up online for PNB's Web Remit Service. My asawa's father has opened a PNB peso account and we simply transfer direct from our checking to his account. They use an ATM card to withdraw cash as needed. The fee is only $5 per transaction and the processing time is about 4-5 days. The exchange rate is also very good. We got a rate of 44.35 when the actual exchange rate was about 44.70. The exchange rate is really bad now. It's fairly simple to open an online account. Works very well for us.

http://www.pnbrci.com/

Just a suggestion.

Michael and Milah Jean

[YuAndDan 153]

iKobo.

http://www.ikobo.com/

[Epiphany 0]

We see many suggestions and recommendations regarding money transfer to the PI. We'll add one I don't see mentioned very often.

PNB has offered money transfer services through their PNB Remittance Centers located in major cities in the US for years. It had been mostly mail in where the sender mails a personal check or money order (faster) to the US branch office, then the money is either desposited in a PNB account or can be held for pick-up by the recipient at a specified PI branch location. This transaction had previously required almost a week or more to complete.

We've signed up online for PNB's Web Remit Service. My asawa's father has opened a PNB peso account and we simply transfer direct from our checking to his account. They use an ATM card to withdraw cash as needed. The fee is only $5 per transaction and the processing time is about 4-5 days. The exchange rate is also very good. We got a rate of 44.35 when the actual exchange rate was about 44.70. The exchange rate is really bad now. It's fairly simple to open an online account. Works very well for us.

http://www.pnbrci.com/

Just a suggestion.

Michael and Milah Jean

I have a pnb center 5 miles from me. I walk in and hand them cash. My gal gets it the next day. It was 46.7 last time I was there. I also sent her a copy of my Gold credit card with her name on it just in case.

[TinTin and Samby 11]

We use BPI (www.bpi.com.ph). I either go into a bpi office here in california in person or mail them a cashiers check/money order. They deposit it into my gal's bpi account and the funds are immediately available. Cost is onyl $8 USD per transaction. No fees on the other end for access/withdrawl.

Warm Regards,

Samby

[larryandlizel 0]

Wells Fargo also has a remittance service. Once the funds are deposited into your account they are available for withdraw by the beneficiary almost immediately. The only fee is a $5 transfer fee per deposit.

https://www.wellsfargo.com/per/intl_remitta...philippines_ATM

Edit: Spelling

Edited July 29, 2007 by larryandlizel

[Jimmy and Angela 0]

I have been using XOOM the cost varies on how you want the money sent. from $5.50 to $3.95. I also gave her a paypal debit card but that takes 4 days to transfer funds and the cost is negligible.

www.xoom.com

[soulm8z0928 0]

Hi M&M, how u guys doing? nice to c u here. we r doing great, so wonderful to be together with no red tape separating us and our loved ones any longer, db? anyway, saw ur post, thought i'd add this. we opened a citibank account online, then we transfer from our other account at another bank into the citibank account fee free. then there are a few citibank atm's in the philippines now, 1 in makati and a few others around manila where the money can be withdrawn fee free, and the exchange rate is very competitive, usually within 1/2 peso of the actual rate. cheers 2 the 2 of u!

[TinTin and Samby 11]

Wells Fargo also has a remittance service. Once the funds are deposited into your account they are available for withdraw by the beneficiary almost immediately. The only fee is a $5 transfer fee per deposit.

https://www.wellsfargo.com/per/intl_remitta...philippines_ATM

Edit: Spelling

Thanks for sharing this info, larryandlizel. This is an excellent option indeed!

Warm Regards,

Samby

[chas3121 0]

I sent Marivic a debit card so she can just go to ATM once a week and the fee is only 2% which is not as much as others.

[LuzyC 0]

Wells Fargo also has a remittance service. Once the funds are deposited into your account they are available for withdraw by the beneficiary almost immediately. The only fee is a $5 transfer fee per deposit.

https://www.wellsfargo.com/per/intl_remitta...philippines_ATM

Edit: Spelling

I recommended this one..cash and packages - cheap quick and easy! :thumbs:

[Dogwood_Poet 16]

I use my PayPal business account, I requested a debit card in Kathlene's name then activated it and sent it to her. Once she got it I gave her the pin number.

The fee for withdrawals is only $1.00 a transaction, and you can transfer money into you PayPal account for free from your bank account and it shows up in about three business days.

Plus you can see all your transactions online almost as soon as she gets the money from the ATM so you can check your balance and the exchange rate is not bad at all.

[lirachadsbaby 0]

used xoom.com before and the remittance was directly deposited to my equitable PCI bank account. took days at first and a day or two on the next transactions.

[Jasman0717 9]

I tried several different ways to get money to the Philippines and have found that the best was using my credit union.

I opened up a savings account and liked it to my other account. I gave my fiancee the ATM card and she was able to withdraw up to 15,000 pesos from a Bank of the Philippine Islands ATM and they only charged us $1.00.

I also used my credit union to transfer a large sum of money to my Filipino partner when we started our chicken farm and the credit union did that with no charge.

I love my credit union.

[RonMay 1]

my husband use ikobo whenever he send me some money for our visa process and some axtra when i was still in phil. now im using it for my mom on a regular basis... i sent yesterday $100 and charged me $8 sometimes they charge $6 so it depends. but its cheaper than western union and more hasle-free... ive heard zoom/xoom is cheaper though but dont have time to look for it. maybe next time

p.s

my gosh the dollar rate drops to P45

[Michael and Milahjean 0]

Great commentary from all...forgot to mention critical info...my asawa's home is FAR out in the provinces, no where near civilization. The closest bank of any type with an ATM was PNB at Palompon Leyte, and that's an hour's ride. Ormoc is 2 hours away by bus in good weather, and there are many options there, but that's a MAJOR trip for them. In my case, money transfer has been a pain. The local pawn shop is a Western Union agent, so previously that was my only choice.

Hey Bernie and Sherwin!! Yep, we're doing great. We're celebrating 4 months in America on Sunday at a family reunion in Illinois. She's loving it here...I got my first taste of bagoong on Monday...she mixed in diced garlic, onion, pork and tomato...so, thought I'd just dig right in...grabbed a teaspoonful inspite of the forbidding odor...made a few really strange faces while I incredulously asked her if she really liked this????....she looked almost afraid waiting for my reaction...she then stated that even she doesn't eat it by the spoonful...it's to be taken in very small amounts and mixed with lots of rice...duh!!!...she says to me that I didn't wait to watch her and that I didn't ask what to do...so I got what I got....she and her Filipina friends are having a very good laugh at my expense...hehehehe....I survived though!!!

Life is VERY good!!!

Michael