how to send money to Phillipines

[johncar54]

Just an up date on this.

On 23.11.10 I sent £13,000, converted into Pesos, from Nationwide to BPI in Phil. It took four working days to arrive.

The Swift charge was £25 and the exchange rate was 69.378. The inter-bank rate on the day was hovering around 69.73. I don't think I would have done better any where else; unless of course you know differently !!!

[Steve.r]

PNB to PNB is far better John, it goes instantly. Recently I sent over considerably more than that I waited on ther phone and they confirmed it was in Phil, it took seconds and the charge for the amount was £30

[johncar54]

The £25 was the charge for any amount.

The main thing in exchange is the rate which one gets. Even a very small difference can make a big difference on a large transfer.

In my case £13,000 the difference between the bank rate (the max anyone or bank can get) was 0.35 of one peso under. But on the transfer that amounted to £63. I am not saying you, but people often do not look at the whole picture.

[rasc00]

I can also recommend OrbitRemit (http://www.orbitremit.com/uk) as really good and great customer service also.

I would not however recommend PNB Bank- my experience with their replies and customer service was very poor and they did not seem interested in my complaint.

[Sim11UK]

I would not however recommend PNB Bank- my experience with their replies and customer service was very poor and they did not seem interested in my complaint.

I wouldn't agree with that. I couldn't log into my online remittance account a couple of days ago...a quick phone call & things were back to normal. I've had to phone them before & always thought they were polite & courteous.

If you want real bad service, I remember my time with xoom.

[Tawi2]

If you want real bad service, I remember my time with xoom.

Or worse,Farochilen Remmittance in Earls Court,bunch of cowboys and one of their staff Apple has terrible customer service skills,I went into the shop several weeks after the money was supposedly delivered and was given an immediate no quibble refund,time wasters

[gWaPito]

this is what the wife and I do. We have a PNB Europe account. We intend sending money via there global money card. The receiver does not need a PNB Account They collect there money card at any PNB Branch in the Philippines. They withdraw at there atm's. That card can be loaded by yourself anytime via there online site Each time you load the card It will cost you £5. Over £3000 the £5 fee increases. We intend using the money card next time we are there. We just send a card to ourselves Then collect it on arrival then top it up online as and when we need to without the credit debit charges. Yehey. This Christmas we intend sending each of Jane brothers and sister a card each with a certain amount but each costing us £5 per trans. They will keep there cards after they have spent so in case or when we have to send again we can without any undue expense and bother. Merry Christmas one and all !

[johncar54]

I have just asked Norwich and Peterborough BS how much they would charge to transfer £50,000 to Phil. £40. Nationwide charge £25

I pressed Nor Pete what exchange rate they would apply, 63.5 to the £ .

HIFX show 68.25P to the £. So with Nationwide it would probably be 68.05.

That means if I used Nor Pete I would loose 230,000 P or about £3,500,. That is equivalent to about a 7% charge.

As I keep saying watch the exchange rate, its that which can screw you.

[Terpe]

..... That is equivalent to about a 7% charge.

As I keep saying watch the exchange rate, its that which can screw you.

John, most specialist remittance companies do a good job.
Or
As has been mentioned before, bank to bank.( with PNB for example)
Having said that, I admit I do not know the Spanish market.
Iremit do have Spanish branch...... maybe worth a call or e-mail

[Dedworth]

I have just asked Norwich and Peterborough BS how much they would charge to transfer £50,000 to Phil. £40. Nationwide charge £25

I pressed Nor Pete what exchange rate they would apply, 63.5 to the £ .

HIFX show 68.25P to the £. So with Nationwide it would probably be 68.05.

That means if I used Nor Pete I would loose 230,000 P or about £3,500,. That is equivalent to about a 7% charge.

As I keep saying watch the exchange rate, its that which can screw you.

7% Despite the adverse weather conditions Rip Off Britain is still alive and kicking

[Terpe]

7% Despite the adverse weather conditions Rip Off Britain is still alive and kicking

[fred]

PNB to PNB is far better John, it goes instantly. Recently I sent over considerably more than that I waited on ther phone and they confirmed it was in Phil, it took seconds and the charge for the amount was £30

Why 30.00? I thought it was only 7.50?

[Chillyzizily]

Im sending my remittance through PNB Europe (London) through phone and my beneficiaries receives the money in just seconds, its already credited to their account. I think this is the fastest one... If they are using ATM they can already withdraw at the same time.
PNB also have this GFMC / Global Card, this is ATM special for OFW's beneficiaries if they don't have an account in the Philippines you can open this straight just let them know that you want to open a GFMC Card for yourbenef. This Card is 0.00 maintaining balance and account opening is for free. When you open an account for you benef. together with your remittance for them, all they need to do is to pick up the card in any PNB branch in the Philippines. I hope this can help...

[Chillyzizily]

John try to check out this one... www. pnbeurope. eu/bankinremit_Spain.htm
I think this one got cheap charges...my friend from spain used this earthport service before
and its quick.

[johncar54]

John try to check out this one... www. pnbeurope. eu/bankinremit_Spain.htm
I think this one got cheap charges...my friend from spain used this earthport service before
and its quick.

Thanks for the info.

However, sorry to keep coming back to the same line, but the charges for making a transfer are seldom the main cost. As I described above, the difference in the exchange rate used by Barclay's Bank compared with Nationwide results in an enormous difference in the value of the amount transferred. (£3,500)

I should be grateful if anyone who has used PBN , in Spain (or other MOs they have used) would show the break down of how much they transferred, on what day, what the charge was and what the exchange rate was.

It is only with that info that one can know which MO is best.

Thanks Guys.

John

[Chillyzizily]

I'm using PNB Europe (London), sending remittance through phone... I think its the fastest way of sending money to your beneficiaries in just seconds it will be credited to their PNB account and If they don't have account you can easy open a GFMC card (ATM card) under they name and all they need to do is to pick it up in any PNB branch in the Phils., this card is really convenient besides from its 0.00 maintaining balance they can quickly withdraw their money in just few seconds...I suggest, you call them...

[johncar54]

I'm using PNB Europe (London), sending remittance through phone... I think its the fastest way of sending money to your beneficiaries in just seconds it will be credited to their PNB account and If they don't have account you can easy open a GFMC card (ATM card) under they name and all they need to do is to pick it up in any PNB branch in the Phils., this card is really convenient besides from its 0.00 maintaining balance they can quickly withdraw their money in just few seconds...I suggest, you call them...

I realise this over-lapped with my post but, can you please supply the info that I requested so that we can see if one MO is better than another.

The speed of transfer is not necessarily what most people need.

With Nationwide I can go on line transfer a sum to the account I use for Phil and my wife's cousin can immediately withdraw the money. The exchange rate is always a smidgen under the interbank rate, BUT now Nationwide charge 2% plus £1 per withdrawal and if one does not use a VISA marked ATM in Phil then there is often a further 3.50 US dollars charge too.

But again that form of transfer is useless for large sums.

[Lancashirelad]

It looks like the bank of England will raise the interest base rate this year, it will have the effect of making sterling stronger against the Peso,good news for those without mortgages who visit or send money to Phils

[fred]

With Nationwide I can go on line transfer a sum to the account I use for Phil and my wife's cousin can immediately withdraw the money. The exchange rate is always a smidgen under the interbank rate, BUT now Nationwide charge 2% plus £1 per withdrawal and if one does not use a VISA marked ATM in Phil then there is often a further 3.50 US dollars charge too.

But again that form of transfer is useless for large sums.

We only ever used to send amounts over a 1000 Pounds..PNB always gave us an excellent and very competetive exchange rate and charged 7.50 per transfer..We can arrange transfers in minutes online..That`ll do for me!!
It took Nationwide 6 months and many FRUSTRATING calls just to get me a debit card!!

[les_taxi]

Just sent some money to Phills using Money gram and I thought it was quite reasonable,The fee seems to have come down (I remember paying about £18 or more last time)
I sent £180 the fee was £9.90 and the rate was 69.25 php to £
Money available in 10 mins
Don't think that's too bad as I only send occasionally and it's easy and quick

[imagine]

what would you guys recomend best in my case,
my situation,
my bank, royal bank scotland, is my mortgage credit card and savings
i will be renting my house, recieving approx £500 to£550 per month, a minimum of about £350 per month to transfer to me in phil ,from april,
is it best to change banks to suchlike as hsbc, complete with mortgage or,,,,, split banks keep mortgage with rbs, transfer what i need to hsbc or other recomended bank or transfer servie, this all seems confusing

[Farmerg]

I have not yet needed to send money to PH but I see that you can send money via PayPal to the Philippines, I don't know the commission they charge or the exchange rates.

[Farmerg]

I have just checked PayPal.
They want 3.9% of the amount sent plus £0.20 for currency conversion.
They show an example of £100 costing £4.10 to send.

[Howerd]

If you want real bad service, I remember my time with xoom.

I tried on several occasions to register various cards with XOOM and failed every time. As for customer service, it was virtually non-existent.

[jazz]

I use Peso Express to send money to the Philippines. Just check their website for more info, i guess

[imagine]

i am wanting to open account with pnb europe , i am a bit unsure of the links searches i have done i came up with 2 sites for pnb europe,both a little different to the other i was not sure if one was a fake site,one site was requiring my debit credit card numbers plus the 3 digit code is that normal ?
could someone who has pnb account please give me a reliable link, thanks in advance,

i want to be able to send money from uk to girl friends pnb account initialy, then i intend to open a second account in phill both uk and phill accounts in my name,can i do this,

when im in phillipines and open that 2nd account will i still be able to do the transfer to my phill account from my uk account just like as if im in uk?

[keithAngel]

Have a look at caxton cards and fairfax preloaded travel master cards that arnt linked to your bank account

you can load from your uk debit card free and they will call you back in the phils free to do it

money is pretty instantly available after loading

I have 3 cards one will stay here whilst im away for Jhean to draw money

I can draw £300 here per card in an atm

exchange rates are good it does cost 200 piso for atm here though that phils banks charging all forign cards

[imagine]

thanks keith, just wonder , how i would load the card while im in phill as i might not come back to uk, saying that im not sure how i will get my new uk debit card while in phill when my expiry date is up

[johncar54]

I made the transfer on 26th Jan, using CHAPS, the cost was £25 fixed charge, that worked out at 0.05% as the amount was £48,000. The money was in the account in RP within a couple of hours.

The exchange rate was 69,175 (almost the interbank rate on the day)

Incidentally Nationwide messed up and delayed the transfer by a day. The rate fell slightly in that day (0.003). After complaining I got the refund for the lower rate (£144.50) plus £150 compensation.

Nationwide Debit card is still a reasonable way of drawing cash in RP I believe, even though they now charge £1 + 1%, but the rate is just about interbank.

If you have a better/cheaper way (with the interbank exchange rate) I would be pleased to know.

[imagine]

thanks johncar