How To Send Money To The Philippines
I found the need to update what I’ve said in the past about my favorite way to send money to the Philippines.
I gave Xoom another try and I now recommend using Xoom to send money to the Philippines.
Since this is such a common question that I get and since it seems to need updating from time to time, I’ve now written and released a FREE E-Book called Philippine Experience: How to Send Money To The Philippines. I wrote it mostly for expats living in the Philippines that have a bank account in the USA and that wish to send money to themselves while living in the Philippines.
- Send Money To Philippines
My last transaction, using Xoom took about 1o minutes to be processed and the money was ready for me to pick up. Also, the cost is much less than that of using RemitHome. You can send up to $2999 via Xoom for $4.99. That would take three days and $30.00 to send via RemitHome. That is a huge difference.
I’m a still a fan of RemitHome and I think you’ll be happy with their service. If you have a problem, perhaps with your pickup location, they are all over it. The bank where I was picking up my funds had me wait for a couple of hours a time or two. I told RemitHome about it and officials from the main office Manila were calling me. Several of them, making sure that I was being better taken care of. They really lit a fire under that bank’s staff.
When I send money to the Philippines, they also approve my transfers before they actually get their money. I don’t know if they will do that for you but it sure helps if you follow the instructions in my eBook.
I emailed Xoom before I decided to send money to the Philippines this time The first response was fast but a bit weak. I complained about the canned answer and then I received much help. My issues was broken up into two tickets and they acted very fast and followed up to make sure I was happy.
While for customer service, I think RemitHome is still the winner, it takes me day or two to get my money but with Xoom it took only 10 minutes or so.
My Favorite Way To Send Money To The Philippines
While Xoom has become my preferred way to send money to the Philippines, I wouldn’t be surprised if that changes in the future. Still, I think Remithome provides the best customer service. Something hard to find these days.
To get a copy of my free E-Book, you’ll need to join this site or use the signup form below:
The eBook is free and it will help you send money to the Philippines.
Tagged with: Expats • Living In The Philippines • Money and Banking
Filed under: Cost of living in the Philippines • Expat Finances • Expats in the Philippines • Living In The Philippines
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Hi Rusty, You know I plan to be there in january so my question is do you think I should wait before signing up with xoom or should I go ahead and put in all my info to them ? Thanks, Jerry (soon in Bogo City)
Jerry, I would sign up now and I would send money to someone here using it NOW.
The first time I used it, there was a one week delay. Maybe because I was in n the Philippines though, that is I used an IP address from the Philippines. This time I had no problem.
PS it would really help me out too, if you click my Xoom link because I serve those ads through Commission Junction and they say they are going to close my account cause I’ve not made a sale in the last six months. Then again, maybe I should stop serving there ads. lol
OK Rusty, I’ll check it out and send money to Queenie through them on the 3rd of sept.
Okay, let me know if you do. I’m always interested to know if sponsors actually pay me. I’ve seen some play games with me. I don’t think Commission Junction would but one never knows.
They are going to cancel me on the first but I should be able to sign back up. I just hope they don’t cancel my links and make me sign backup again. If hey do, I’ll probably just drop them. I am going to try them for six more months then I’ll drop them. LOL
You do what you need to do when you need to do it.
Jerry,,
i did get credit for your transaction. $6.00
At least I know I have the code setup right. After so long, i was beginning to think something was wrong. It works with other companies. I have caught some companies playing games with me though.
Wow, they lost a dollar on that deal because they only charged me $4.99 to send $120. How can they do that ?
They are counting on you coming back.
They would likely deny it but they also make money off the exchange rate, just like RemitHome does. I’ve complained to RemitHome and they at least acknowledge but get me some trash about you have to deal in large volume to the bank rate shown on the bank websites. That’s bull. When I get money via ATM, I get thee bank rate BUT with my ATM I have to pay $5 per transaction plus 1% i think it is. And you can only withdraw P10,000 per transaction. So to get enough to pay my rent and my utilities, I’ve already spent more than $10 in transaction fees. Plus there are often long lines at the ATM.
If I was going to get a small amount, less than P10,000 then I would just use my ATM though. Some people do only that, use their ATM. If you have free ATM or low cost ATM fees then its probably the best way to go. Except….. The first time there’s a typhoon and there is no power for three days, you’ll regret that strategy.
In Bogo City, the machines go down a lot its not as bad as it use to be as at least one of the ATM’s has a generator now. My first month here, it was a pain and i was a lesson I haven’t forgot
I remember going to Jolibee’s during a brownout. An all day brownout and not having much money. The first fell on a Sunday, I think. Or perhaps on a Saturday. In any case, I had no access to cash. We had spent everything on appliances for our home and we were busted! We got something, maybe one or two orders of fries but we were so broke due to the ATMs being out we couldn’t buy very much. I was so hungry. I don’t want to do that again.
Now i’ve gone and made myself hungry..
i had look at REMITHOME u hv 2 live in USA – with US Bank
i am in LONDON
You know, I think i forgot about that. I will add it to my eBook. I’m not sure its there.
ONE good point my UK BANK NATIONWIDE, do not charge me when i use my ATM card overseas like wen i’m in Philippines
I wish that was true of mine. I did three P20,000 transactions last week via ATM and it cost me $7.00 for each one for foreign surcharges and next month the bank will add $15 for the three withdrawals on top of that!
Hey Rusty, why didn’t you just use xoom and get 60k all at once for $4.99. I’m confused buddy.
I needed to be 100% certain I had the money by a certain date. I couldn’t risk them putting a hold on it or waiting for it to clear the bank.
Last time I sent a significant amount they made me wait a couple of days, maybe three, till it cleared the bank. In this instance, I had to have the money in a couple of days.
Next time I send money with Xoom, I’m going to do it through my VPN and see if it goes faster. The VPN makes it appear that I’m in the USA.
Today, I used my VPN account to present an USA IP address when I sent instructions to send money to the Philippines.
Before I could check my email the money was ready for me to pick up. It took about 10 seconds for it to be made available to me.
When I say use a VPN to present an USA IP, I’m using a service to do that. It is fully explained in my free eBook “How to Send Money to The Philippines” so its clearly worth looking into.
Last month I sent money without using it and it took about two days to get my money.
Hey Rusty, I’m wondering if when I get there to Bogo City, would it be ok if I come to your house once a month to get my money sent from your computer thru this VPN you’re talking about ? It sounds like the way to do it. Whenever I send money to Queenie I get the same result, it seems like it’s there in about 10 seconds. But I’m afraid if I do it at a cafe when I’m there I will have problems getting my money. That’s why I was thinking if I do it on your computer it will be there in a matter of seconds since you’re set up with the VPN. So is that possible for me to come over on the 4th of every month to do that ? Please ?
Your going to live without a computer in your home?
I didn’t think it was possible any more.
I thought it was like oxygen.
I can’t comprehend that, I hope I never have to live it.
Yeah, I’m sure we can work that out.
Hey Rusty, Xoom now charges me $7.99 to send money there. I looked for the 4.99 deal but couldn’t find it anywhere. After I had sent it I checked my email and earlier today they had sent me a code for half price but guess what ? Yeah I already sent it so its too late now and it expires Oct. 31. If you need the code its PHFIFTY. I won’t be able to use it because I can’t send her anymore this month. Just thought I would let you know about that. Later, Jerry
Thanks for the code! maybe I should read my email better. i wonder if they sent that to me too. Slick of them though, they know we usually only send money once a month so they give a coupon that expires before the first.
I think you might have sent the money in USD rather than PH I sent money at $4.99 yesterday but noticed the $7.99 for sending in dollars rather than peso OR the price went up today. It was 4.99 yesterday.
They did increase their prices….
Damnit now I have to update my ebook. That sucks Xoom!
Thanks Rusty. I knew you would come through for me coz you’re such a great guy. Really, I’m not kidding. Now I know what that good looking waray waray sees in you, hehehe…
Great guy? hahaha, I’m a guy, thus I’m a dog
See, I told you they went up. I filled out a survey thay had to make a comment and at the end they ask for your comment. I just said yeah you can tell me why you charged me &.99 instead of 4.99. I don’t expect an answer though. You know I read alot of bad stuff on xoom. I just hope I never experience any bad stuff from them. They still have the best deal going that I have found even at 7.99. The only other thing would be to open an account at a bank and deposit a check there and wait 21 days for it to clear. I would have to build up some savings before I could do that though, and then 21 days to clear isn’t exactly garaunteed either I don’t think. Have you experienced any of that ? BTW, I’m a dog too, hehehe…better watch out when I’m around your girl, hehehe, just kidding, I would never do a thing like that… later Russ…
They have not updated their banners. They have sent nothing out to affiliates. The increase is not making sense to me for that reason.
RemitHome is just as cheap now but it is slower.
My next article is about opening a bank account here.
Where did you get that 21 day figure? I’m pretty sure its 30 days but I would suspect it depends on the bank. Either way, not a reasonable option.
As for dog.. this isn’t the place.
I mean, I can’t really comment further on that subject……
correction : 7.99 instead of 4.99, not &.99 instead of 4.99
I think this $7.99 might be an error. They are advertising this all over their site:
Send up to $1,000 for only $7.99. Dollar payout is conveniently available for both cash pickup and bank deposit.
That’s DOLLARS but.. fees also show as that for peso but the limit is 3000.00. I logged into their affiliate site and all the banners still show $4.99 they are too large not to update their banners first so it makes no sense to me. Time will tell. Probably just jerking their affiliates around.
Hey Rusty, Do I need to click on Xoom banner from your site for you to get credit every month or are you getting anymore credit for me using them. I didn’t think about that until after I had sent money this month as I just clicked off the google site. If you didn’t get credit for it I’m sorry. I will click it off your site from now on. Again, my apologies. Jerry
No, I wont get credit any more.
I don’t make much from the those type of ads. I wonder if I shouldn’t just pull them off the site and replace them with something else.
Thanks for asking.
BREAKING NEWS
Just read about PI Bank BDO and WELLS FARGO signing a deal to enable fast transfere of funds to PI
BDO, Wells Fargo sign deal on remittance transfers
copy
http://www.inquirer.net/specialfeatures/remittance/view.php?db=1&article=20101001-295318
Doris Dumlao
Philippine Daily Inquirer
MANILA, Philippines — Local banking giant Banco de Oro Unibank seeks to further grow its lucrative overseas Filipino remittance business via a new partnership with American financial giant Wells Fargo & Co.
San Francisco-based Wells Fargo, for its part, has effectively tripled its remittance pay-out locations in the Philippines – the fourth largest country in the globe in terms of inbound remittance – by hooking up not just with the country’s largest bank but with the leading non-bank domestic remittance retailer M.Lhuillier Financial Services Inc.
“We understand how important remittances are to the Philippines,” said Daniel Ayala, executive vice president and head of Wells Fargo’s global remittance services, during Thursday’s signing ceremonies on this partnership.
“By helping out Filipino customers reach more locations throughout the country, we hope we can stimulate the economy of their homeland by supporting their family and friends.”
BDO has 650 branches and 1,333 automated teller machines and was cited by the Bangko Sentral ng Pilipinas as the largest remittance channel in the country in 2009 based on volumes. In addition to its vast retail network, BDO has existing tie-ups with rural banks as well as the shopping mall and retailing units of its sister companies under tycoon Henry Sy’s SM group.
With this new tie-up, overseas Filipinos who are Wells Fargo customers can send up to $3,000 a day to their beneficiary through BDO or up to $1,000 a day to their beneficiary at M.Lhuiller for $5 from an eligible Wells Fargo account or for $7 if originated from cash.
Customers may also qualify for a discounted fee based on their account relationship with Wells Fargo. Remittances to the Philippines are denominated in Philippine pesos.
The tie-up is seen allowing BDO, already accounting for a hefty 30 percent of the inward remittance business, to further grow its market share.
M. Lhuillier vice president Michael Lhuillier, for his part, said his firm’s working relationship would help millions of Filipinos living and working in the US better facilitate their money transfers to local beneficiaries. M. Lhuillier has 1,300 locations across the country including remote areas such as Batanes, Tawi-tawi, Surigao and Siargao.
“Together we are offering a service that will provide a secure, convenient and competitively priced remittance services,” Lhuillier said.
I bank at Wachovia which has been bought by Wells Fargo, if they don’t throw me away, I look forward to when my account becomes a full Well’s Fargo account. They are being slow about fully absorbing us.
I had a well fargo account when I lived in texas but they’re not on the east coast yet…
My favorite bank was NetBank and they didn’t even have an office. Deposits could be a pain but most of the time, they were all electronic. I hated it when they went belly up.
i use wells fargo/bpi. it costs $2.50 per transaction. i live in infanta pangasinan. about 45 min from aliminos/100 islands. it’s very rural but i love it.this year we lost a house and gained a house in san diego. the house we lost was three bedroom one bath and we owed $550k one story 1950′s. the house we gained is two story with a large room on the roof for my solar panels when we get them on the roof. plus i will put a garden on the roof and still have an open patio for parties and a half bath plus a water tower for my weather station and wind generator. we have three bedrooms and a small living room and two baths and a large covered patio on the second floor. a large living/dinning room room and kitchen plus a half bath and a bedroom with a full bath on the first floor. the house is roughed in to the roof and most ready for finishing on the first floor. and the best part… i don’t owe anything on the new house. i just work as i get my retired pay and when we run out i just wait for the next check. it should be finished next year. the only thing i worry about is the irs, as they will count the loan i got out of as income this year. have to work that out, but a ot of other people are in that boat so something will probably turn up. i have my blood pressure under control so they just lowered the voltage and now my battery will run out in 2012. that’s the end of the world year so i won’t have to get that done either. (he he, yeh right) rose my wife is very happy there (we have two maids for $80 a month) and i met and joined a caving group that really want to save what we can of the environment. so i’m having a good time building the house and caving once every couple of weeks. could cave every week if i wasn’t building the house. plus i want to start and construct an artificial reef in the bay (dasol) i live on to help it recover. when i dived it in the 70′s it was premo now it’s wasted. keeps me busy. hope you can come visit me sometime. you can jump off to china from the pi. Taiwan, Australia, Singapore, or anywhere in the south pacific, airfare and hotel should only cost $350-500 for several days. the rest of the time i have lots to show you in the pi. some other epats have found lower prices. retired military can still fly space a out of clark. flights to singapore (which go to the staes the next day) guam kadena, austraila hickim hi go out periodically.
Hi Craig,
Well Fargo from the USA to BPI in the Philippines appears to be a good choice if you have your bank accounts with those two banks.
I may very well move mine there one day.
Glad you stopped buy and shared part of your story. I hope to see you around more!
I’ve been a little ill for the last few days. I hope you’ll forgive me for my late reply.
Wow Craig I really liked your post very interesting stuff. I am trying to learn about Pi for a month long vaction sometime in the future. I am also pursuing mt interests in green tech mostly just solar power. Trying to juggle cost vs payout for solar while managing funds properly so that I can retire and have income as soon as possible. If you have any insights on how you made alternate energie sources I would be interested in seeing that. You painted a very nice picture of it pictures would excite me greatly. Feel free to contact me or pass on your contact info if you are open to more comunication.
Craig, long shot … we might share a father ? not a joke. email [email protected]
Kenneth Rasch
semper fi
Hey Rusty, are you feeling any better yet ? I’m coming down with a bad cold here now that its just about time for my trip there, man that sux big time, My throat feels like its on fire and my ears are trying to stop up. I’m not taking any meds for it as of yet but might start to try something soon if my body can’t fight it off. Anyway, haven’t heard from you lately and just wondering if you’re still alive and well . Let me hear from you, I should be there soon. Jerry
Hi jerry,
I’m better but still not back to full speed. That virus really kicked my butt!
Relax Jerry, you’ll be fine. You seem to know you wont be living like a king on your income and Queenie will make it all okay. I guess you’ll be coming straight to Bogo when you get here? If you can stay a couple of days in Cebu City with her, that would be good. At the time you’re coming though, might be impossible to get a room. I don’t know exactly when Sinulog is though. If after that, you can get a room for around $20 at Pacific Pension.
You’re cold will be long gone by the time you get here.
Good to hear from you Rusty. Thanks for the info about Pacific Pension house. If my flight arrives early enough we’ll probably head on to Bogo but if its a late arrival we’ll stay the night there. Problem is there will be about 8 of us altogether and I will be a little short on cash until the 4th comes around again. Not sure what we’ll do but we’ll figure it out. Queenie said its too dangerous to travel the road to Bogo during the night and I won’t disagree with her on that. It’s looking like I’ll take a flight leaving here on the 18th right now because the ones for the 11th have gone up so high now. Was hoping my money would show up today but not yet. I’ll check again after 2pm to see if it has. Good to hear you’re feeling alot better. Take care, see ya soon. Jerry
I’ve never driven it only road at night on buses. I think it is safer at night, you can see the headlights coming at you. Bus drivers tend to drive crazier at night, I think for that reason but that might have changed. The bus drivers are not as bad as they use to it. It is a LOT better now.
If you have all those folks with you, they might know a good place to stay but Pacific Pension has cheaper options. Shared CR and no aircon. The price I gave you was for the nicer rooms. Not great rooms, just decent.
I don’t understand the entire family coming. Personally, I would totally hate that. Queenie can take the bus to Cebu City for P100 or less. Taxi to the airport for around P300. Pick you up and take you to the bus station. If that’s what you want to do though then enjoy
You should get a smart sim card at the airport so you can stay in touch with her once you’re on the ground. At least, that’s what I’d do.
I guess someone has a car or van. I hope you didn’t pay for a v-hire. If so, what did you pay?
do not know your email, so i post here..and C !!
Rusty & GF in Bogo City – Cebu – Leyte !!
HAPPY NEW year to you in 2011
Wish you all success in business and health
++ I try some Tagalog for your GF as itsTEAM Wallace
HAPPY NEW
taon sa inyo sa 2011 Wish mo ang lahat ng tagumpay sa negosyo at kalusugan johncare Morocco
johncare
Marakesh Morocco
Thanks john. email is [email protected] Its around the web.
Hey Rusty, As time gets nearer more people want to go with Queenie to meet me at the airport. She is saying that renting a van is better at a cost of about 1500php, but thats just an estimate. Gas has gone up alot here lately, what about there ? I paid $3.27 a gal yesterday, that sux big time. I’ll be glad to get rid of that truck. Well checks not in the bank yet so I guess it will be monday. Queenie’s mom just said she wants to go to pick me up too so so far its Queenie, her mom, brother, sis in law, niece, and a half brother. & counting me. I think I’ll suggest her taking the bus like you suggest to save money. I’ll only have about $500 when I get there and need to stretch it out until the 4th comes around. Then I’ll have to get my visa renewed too at what , $60 ? Man I’m nervous about running out of money but I’m sure we’ll manage. Any more suggestions ? See ya soon, I hope. Jerry
Five hundred for two weeks is plenty. You’ll be fine if you don’t let people drain it off of you.
Yeah, you’ll need to get your visa extended every two months. I think the first time is around that but I’m not certain. Go do that as soon as you get your cash in February so you’ll know for sure.
The second extension is the one that’s going to be painful. That is when you pay for your … my brain is failing me… I card? Whatever it is that’s when you’ll pay more. I started to say ICR card… I’ll remember later.
My main goal would be alone with Queenie but I doubt she’ll come alone. Jessie did, well kind of, our land lady did pick me up at the airport and brought Jessie. Then she hang around for a while but not too long. I had paid for the van for the day but since I had been in the air for three days, I really wasn’t up to seeing the town. I didn’t even know I had paid for it for the day.
I knew nothing when I got here. Besides, I had other things on my mind and it wasn’t about being in a crowd of people.
Jessie went to Cebu on her own but she was scared to do it. I wasn’t sure she’d do it till she planted her feet on the ground. Jessie has grown quite a bit since then. Filipina are often timid and afraid to explore. Not always but it is common.
I know an expat that left here not long ago, totally disillusioned with the country. I think most of it was his own poor outlook but the families of the girls he was with played a huge role in it. The word NO is critical but with understanding on your part. Hopefully on theirs or its gonna be a problem.
Queenie likely wont let you out of her sight and once you’re hear, you’re going to understand why.
Hey Rusty I have used xoom to send money to the Philippines for a couple years in the past and one day they cut me off and told me I “violated their policy agreement” I asked them how I violated their policy agreement and they told me they cant give me anymore details. I also talked to another gentleman who told me they did the same thing to him for no reason. I have hated xoom every since they are like snakes who are just waiting for a chance to bite the hand that feeds them. They did offer cheaper rates but I hope they go out of business and I would not use them again if their rates were free. Just be careful of them Rusty they are crooks!
i now someone else they did that too. It seems odd they wont tell people why. They have a reason, they don’t really have a reason to cancel people for “no reason” but dang it is odd they wont say what the reason is. The other person I know that it happened to threatened to write mean things about them on his website so they cut him off. They didn’t tell him that was why but it SEEMED to be connected.
I’m not discounting what you say at all. I take these kinds of reports seriously. It is good to have a backup plan. My bank will change soon to another bank. It merged… So I may very well be changing my methods within the next two months. I need to make a phone call to set that up but I hate phones.
I think they would only be crooks though if they kept your money.