Sterling to Peso

[imagine]

Stewart, there's lots of ways and remittance organisations to send money.
It does depend on how much you want to send and how the recipient wants to receive.

For a long time now we've used iRemit simply because it suits us.

Everyone will tell you their preferred method/company is best.

I would suggest you do a quick search here on the numerous threads about sending money and find something thats best for you.
My best advice is to settle on one where the total overall costs are acceptable and the organisation is reputable.

Remember it's not just about charges etc, look to the exchange rates too

iRemit are always very very close to interbank rate.

thanks peter, quite a few times iv searched and read lots of threads ,having a phil bank here in uk such as pnb seems to be the cheapest and good rates,but seems i would need an account in phil too to benefit, also seems you cant open an account here unless you have one in phil 1st, anyway it also seems more hastle, transfer from a uk bank to uk phil bank the=n transfer again to philippinesand i dont have an account with a phil bank here or there yet,
hsbc to benefit needs a large amount tied up with them,
up to now i have used world remit,paid by card so card charge and to be picked up,would be cheaper if they do it bank to bank,then i guess a recieving charge by bank

[Steve.r]

thanks peter, quite a few times iv searched and read lots of threads ,having a phil bank here in uk such as pnb seems to be the cheapest and good rates,but seems i would need an account in phil too to benefit, also seems you cant open an account here unless you have one in phil 1st, anyway it also seems more hastle, transfer from a uk bank to uk phil bank the=n transfer again to philippinesand i dont have an account with a phil bank here or there yet,

Stewart, it doesn't work that way. My wife and I opened an account with PNB in the Philippines. That was easy. So, when I want to remit, I go to PNB Europe website and transfer the cash directly from my Nat-west account to our account in Phils. You can if you are in the UK call them and it is an instant transfer, do it online and they say it can take 24 hours to deposit. My wife then goes to the bank or ATM and can access the money. To do this through PNB Europe, you just have to register with them, just bank details of the account the money is coming from and the account it is going to. It is easy

[jonnijon]

When I setup with PNB had to send them two proof of ID verified by accountant or lawyer, but its a very good system. Used to send from the UK about 4 or 5 pm and she would get it the following am.

[Terpe]

...hsbc to benefit needs a large amount tied up with them...

Not suggesting it's worth doing, but HSBC will provide the same services 'by subscription' without having large amounts deposited with them. I'm not sure of the exact amount but something like £20 per month.

I have no idea if it's worth it or not. Other members have used HSBC in that way.

Your own bank-to-bank Xfer is usually a much safer simpler and cheaper route.

[imagine]

Not suggesting it's worth doing, but HSBC will provide the same services 'by subscription' without having large amounts deposited with them. I'm not sure of the exact amount but something like £20 per month.

I have no idea if it's worth it or not. Other members have used HSBC in that way.

Your own bank-to-bank Xfer is usually a much safer simpler and cheaper route.

20 a month i think is quite steep, unless sending money on a regular basis,which after i get the amount i want there there which i will break down into smaller sends,i will not be using it after that i hope,well at least not untill i get my pension

[imagine]

Stewart, it doesn't work that way. My wife and I opened an account with PNB in the Philippines. That was easy. So, when I want to remit, I go to PNB Europe website and transfer the cash directly from my Nat-west account to our account in Phils. You can if you are in the UK call them and it is an instant transfer, do it online and they say it can take 24 hours to deposit. My wife then goes to the bank or ATM and can access the money. To do this through PNB Europe, you just have to register with them, just bank details of the account the money is coming from and the account it is going to. It is easy

thanks i will look into that, at the end of the day im wondering if just transfering from my existing rbs account might be just as good, i can test a send out at some point see what they exchange at ect, i know the recieving bank pnb lolita has will charge me 8 dollars on recieving,which isnt such a lot at that end

[imagine]

Stewart, it doesn't work that way. My wife and I opened an account with PNB in the Philippines. That was easy. So, when I want to remit, I go to PNB Europe website and transfer the cash directly from my Nat-west account to our account in Phils. You can if you are in the UK call them and it is an instant transfer, do it online and they say it can take 24 hours to deposit. My wife then goes to the bank or ATM and can access the money. To do this through PNB Europe, you just have to register with them, just bank details of the account the money is coming from and the account it is going to. It is easy

been trying to register online but their link for sign up will not work,tried it on different browsers still the same,

[fred]

When we change pounds (Not very often) we get the best rate outside (usually an Indian) and he brings the cash to the bank where the deal is done.. Far better rate than BPI offer..
Also dont forget that PDIC only insures 500.00K per depositor for saving accounts.

[Steve.r]

been trying to register online but their link for sign up will not work,tried it on different browsers still the same,

Stewart try this link

http://www.pnbeurope.com/forms/RemRe...nFormNov11.pdf

if it opens then you print it as per instructions here:

http://www.pnbeurope.com/Remittance.htm

[jonnijon]

HSBC Advance account in the Philippines requires a minimum 100,000 peso on deposit to avoid bank charges.

[imagine]

Stewart try this link

http://www.pnbeurope.com/forms/RemRe...nFormNov11.pdf

if it opens then you print it as per instructions here:

http://www.pnbeurope.com/Remittance.htm

thanks steve, cant fill it in yet anyway untill i get the send to beneficiary bank details,
looking at their remittance charges,it says sterling to us dollar does this mean its paid into a phil bank in dollars then have to change it again to peso,?
the only downside is having to pay for 2 lots of id to be signed by doctor ect, but i guess its worth it, just need to know if scanned documents for id are ok or need to be photo copies .
feel pnb europe is pretty safe and reliable

also it asks my employment details income, in a way im early retired without income, what you think should i just put retired and leave earnings blank

[Steve.r]

thanks steve, cant fill it in yet anyway untill i get the send to beneficiary bank details,
looking at their remittance charges,it says sterling to us dollar does this mean its paid into a phil bank in dollars then have to change it again to peso,?
the only downside is having to pay for 2 lots of id to be signed by doctor ect, but i guess its worth it, just need to know if scanned documents for id are ok or need to be photo copies .
feel pnb europe is pretty safe and reliable

also it asks my employment details income, in a way im early retired without income, what you think should i just put retired and leave earnings blank

The form I think is just a formality. I remember when I registered I used our company accountant and my Boss for ID. I think it is a bit silly asking for these types of referee. As for the charges, it is only a one time charge, about £6 if you are sending £1000 (ish) You just tell them how much you want to send in £'s, they tell you how many Peso's that is at the exchange rate for that day and they ask you if that includes the charge or not, it is that simple.
I have been using this method for 4 years (monthly) and have transferred large amounts too like when we bought our house, and never a hiccup or problem, they are very reliable imo.

[imagine]

The form I think is just a formality. I remember when I registered I used our company accountant and my Boss for ID. I think it is a bit silly asking for these types of referee. As for the charges, it is only a one time charge, about £6 if you are sending £1000 (ish) You just tell them how much you want to send in £'s, they tell you how many Peso's that is at the exchange rate for that day and they ask you if that includes the charge or not, it is that simple.
I have been using this method for 4 years (monthly) and have transferred large amounts too like when we bought our house, and never a hiccup or problem, they are very reliable imo.

the form only shows payment type as cards debit/credit ect, so its not the bank details,directly like as bank to bank transfer

[Steve.r]

the form only shows payment type as cards debit/credit ect, so its not the bank details,directly like as bank to bank transfer

I only use my bank card, it is like just making a card payment. When you call them you confirm your identity with a couple of security questions, then they only ask for the last 4 digits of the card and the security number on the back and it's done. If you do it online it is similar, you have already your card set up on their system and you use a pin number for security. But this time online you have to go through the bank security screen too, so another form of pin number and it is done.
It sounds complicated, but once set up it is so easy, because I am in China I use the online way, but if I need to send money urgently I will call the uk on the phone as the transfer is instant. hth

[imagine]

thanks steve
il get this sorted the next few days,gather details i need tomorrow

[bigmarco]

It's creeping up again 67.55 at IRemit today

[Terpe]

It's creeping up again 67.55 at IRemit today

Yep, I like that.

PS: Incidently Marco, we always send via iRemit with cash at Barclays. It seems this may get stopped by Barclays.
Have you ever sent via iRemit using their Online facility?

If you have could you give me the run down ?

[bigmarco]

Sorry Terpe I've never used it although they've been promoting it recently. IDOL Iremit direct on line. https://www.myiremit-idol.com/
The thing with us is Mary Grace enjoys her monthly trip to their office in High Street Kensington because there's normally an extremely large gathering of Filipinas on a Sunday both at the IRemit office and the local church

[fred]

BPI exchange rate yesterday.. 63.60 !!

[Michael Parnham]

67.6 today Fred, good time to transfer!

[Terpe]

68.25 today

That's the best it's been since May 2012

Now the question is, does this reflect an improvement in UK economy or does it reflect a Philippine Central Bank strategy of weakening the Peso ?

In the short term I guess it makes no matter. If you're thinking of sending do it soon.

[sars_notd_virus]

Did send some money last night exchange rate is 68.20 , my mum can buy lots of rice with that cash

[Terpe]

Amazingly still creeping upwards
68.40

C'mon sterling......into the breach once more......70 is within your grasp

[Michael Parnham]

Great stuff!

[tiger31]

yep its now higher than I arrived back in feb 2011 very nice happy days

[bigmarco]

Amazingly still creeping upwards
68.40

C'mon sterling......into the breach once more......70 is within your grasp

70 would be nice.
I've just ordered a visa card from IRemit that I can load over here and use when I go in November.
It should be ready next time we visit the office so I hope this continues for a while

[Terpe]

70 would be nice.
I've just ordered a visa card from IRemit that I can load over here and use when I go in November.
It should be ready next time we visit the office so I hope this continues for a while

Ah!
I shall have to look into that. Thanks for the tip sounds a nice idea.
Only top up when the rate is good

I'll check their site later

[Terpe]

68.61 and still creeping up
I'll move some tomorrow come what may

[Terpe]

68.61 and still creeping up
I'll move some tomorrow come what may

68.90
Best rate since November 2011

[raynaputi]

68.90
Best rate since November 2011

Roll on to 100 again!!!