Good evening everyone.
I have been sending money to the Philippines via Western Union. As an example, I sent $33 yesterday at Australia Post and was hit with a $14 fee. The friend I was sending money does not have a bank account. Is there any way to bring my costs down without my friend opening a bank account? I have an ING account, an Ozforex account, and a Paypal account. Western Union seems convenient, but very expensive.
Any ideas?
Cheers.
Sounds like a better option.
You can track it online too. For reliability and convenience WU is best.
The cheapest way I've found is to open a Citibank account next time you're there and give your family/friend the debit visa card. Top it up as needed from your Aussie account. I wouldn't recommend doing this if you don't 100% completely trust them.
Sounds like an option. As long as the Citibank card works at their local bank.
paypal
Don't you need a bank account to get money via paypal?
What is stopping your friend from opening one?
Lack of familiarity with banking I'd imagine.
I sent $33 yesterday at Australia Post and was hit with a $14 fee
Wow, that's about 50% of the amount you sent. Why not try sending larger amounts at a time? Why can't they open a bank account if you are going to constantly send them money?
I haven't tried it, but it seems good https://www.worldremit.com/en/Philippines
I only send money for birthday and Christmas. They have never had a bank account before. They live on Camiguin Island and most of the banks are small. When I was there my ATM card would not work and I actually had to send myself money via Western Union!
I'll look into it. As long as there is an agency on Camiguin.
why not send cash in an envelope? wedged within a card?
Wonder how safe and reliable that would be? I have Philippine peso notes that I brought back from my trip last year.
I used to send cash from Japan back to aus all the time. admittedly not huge amount i.e. less than $100 at a time. never had an issue.
who's going to open it? it's just another letter. and if 1 in 5 doesn't make it then think of what you'd be paying in fees any way.
in my opinion, for small amounts then I would send cash in the post.
Good idea. Wonder how long it would take though? If birthday is coming up without a lot of notice, may be too slow.
Their birthday is the same day every year. Same amount of notice every year.
Have tried sending small amounts of US notes that way before to Phils and mysteriously never arrived.
PHLPOST is one of the most corrupt organizations in the Philippines. And that is saying something. They give the police and customs a run for your money. Don't ever send anything valuable through the post - you won't see it again…
Will definitely be avoiding Philpost.
I've tried Moneygram, it was ok. $8 flat rate, currently $1 promo.
Paypal if they purchase things online (they can use the balance); not sure whether they've tightened up the requirements for joining, though. I joined way back and needed just a CC, heard something about needing a bank account. If so, wouldn't work then.
There is a Moneygram where they live. That could be an option.
Try this one-> https://iremit.com.au/
they have an option to send to the address, i have not used it though as I usually send it to the bank that my family can withdraw using atm machines.
There is also a service to send to other non bank establishment like SM, Mluillier, etc…
Hope this helps…
Absolutely use iRemit, we use it often to send money to family.
I would use a citibank account, but there are no citibank branches or ATM's within 2 hrs of the town.
I use forexworld. Decent rate, $8 fee.
Or maybe you can just buy a giftcard from a online store in the philippines and have it shipped to your friend's place?
Hi I have been using LBC to transfer small amounts, which can be collected from their branch & affiliate offices in most locations in the Philippines for $8.00 fee. Until recently when I have needed to transfer a large amount as we are buying property. I have discovered Ozforex.com.au, which has an exchange rate better than the banks & no fee, can be collected @ a bank I believe with the appropriate I.D. Minimum amount is $1000.00 & takes 3-4 business days & can be done online. They will call you to confirm your details & call again for each transaction, in my case I have given my Philippines mobile # as we are currently in the Philippines.
Doesn't have a bank account… For goodness sake - do they know no-one with a bank account then?
I don't even know where you get them, but mail one of those Visa cards loaded with the amount.
Pay something for them - a bill, etc. - using your Paypal. The money they still have in their pocket from not paying the bill counts as their gift.
Get new friends of legal age, not doing prison time, or who aren't amish.
They must be dirt poor — probably walang tirahan (homeless/squatters).
Live in a simple house on land they don't own.
I would open a citibank plus account and send the card to them.
Then tfr $ into the account as required and they can withdraw the equivalent via an ATM. Might cost $2 if no access to an ATM that is free.
I guess only works for amounts rounded to what can be withdrawn from atm.
This would be the best option, however only the international banks (HSBC,Citibank…) are free to withdraw in the Philippines. Otherwise around $5.00 fee.
Is there any advantage to Citibank Plus over ING if you can only access local ATM? Camiguin is a long way from a International ATM. I'd imagine it would be good to have both cards in case one doesn't work. When I was there in 2011 I had a Commonwealth debit card. It would not work on any ATM in Camiguin.
There is definitely an advantage to Citibank Plus as Citibank does not charge any fees for overseas withdrawals. It is an operator atm charge by the local banks in the Philippines (200 PHP). At least one more backup card would be good to have.
AFAIK there are basically 2 different atm types, Cirrus (Mastercard) and Visa (VisaPlus). I have had problems in eastern Indonesia before as I did not have a Cirrus card and could not withdraw any cash…
Never had a problem in the Philippines though. I was in Camiguin in 2011 too.
There is some information about atms in Camiguin. BPI banks should be fine to withdraw (atm fee).
http://www.camiguin-island.com/camiguin-money-banking.shtml
Western Union online charges $5 up to $50 then its $8 to $500 (as of August 2015). If you dont wish to send online you can use Moneygram at 7/11 for $8 up to $500 or $1 for the first transaction find out more here: http://pages.7elevenmoneytransfer.com.au/send-money-anytime-… (Up to 5th October 2015). Western Union also has a affliate program with Commission Junction which pays $3 commsision per transfer, if you have a friend with a website get them to sign up and add the link on their website, then click the link when you transfer money so they will get commission for the transaction.
But what are their exchange rates like? Fees are only part of the cost.
Yes. How are the exchange rates? I was under the impression Western Union has decent exchange rate. How does Moneygram compare? I know Ozforex offers the best rate for larger amounts.
Money Gram and WU are the same or very close for a small amount its not going to make a big difference to how much the receiver will get. World Remit is also about the same exchange rate and charges $3.99 up to $50 and for your first transfer use promo code FREE for free transfer.
If done online it would cost $8 for the same amount sent