There may be times when you have to stay away from your homeland and beloved ones, whether for work or education purposes. Sometimes this may not be a temporary time; a choice or necessity may force you to decide to live in another country. In this situation where you are forced to leave your beloved ones, the bond between you and them will never be broken, on the contrary, you will feel more responsibility and longing for them. We are aware that it is very important for you to send money for the needs of your beloved ones, while you are away from them, and to execute this money transfer transaction as quickly as possible.
Do you want to send money to the Philippines but you do not know how to send it? There are many options for fast, safe and easy money transfers to the Philippines. In this article, we will talk about the points that you should consider when making the fastest and easiest international money transfer to the Philippines and how you can transfer money.
Points to be Considered
There are many methods to send money to the Philippines, but you need to consider transfer fees, exchange rates, taxes, and transfer speeds before choosing a method. Money transfer fees, exchange rates and taxes affect how much it costs you to make transfer and how much money to be received by the recipient in the Philippines. Transfer speeds are also important. Your recipient may need money urgently. In this case, you should execute the fastest money transfer process.
Bank transfer may be the method that comes to your mind first to send money to the Philippines. However, there are two problems related to this transfer method. First, according to the Worldwide Bank Transfer Expenses report published by the World Bank, we can say that bank transfer is one of the most expensive methods to send money internationally. Banks charge 10.99 % on average over the amount of transfer to the Philippines, which is well above the global average cost for sending money. The second problem related to bank transfers is that fewer number of people have a bank account in the Philippines. It is quite possible that the recipient to whom you want to send money does not have a bank account. Besides, you, as sender, may often be required to have a bank account.
You can also send money to the Philippines through intermediary companies that handle Cash Transfers. To send money with this method, you need to search for the most affordable price, the most suitable exchange rate and the safest and fastest institution, and visit the nearest service point to make your transaction. Although this method is cheaper than bank transfer, you have to make search in advance. Also, you have to obtain guarantee that the cash amount transferred by you will be paid at the nearest service point in the Philippines. In the Philippines, not every service point will be able to pay all amounts of money, and the recipient may experience delays or other difficulties in receiving the money.
The importance of digital money is increasing day by day. In fact, mobile wallets have started to replace physical wallets. Mobile wallets save time thanks to their simple interfaces and easy-to-use steps, and the only difference is an application that you download in your phone. You can store, pay and transfer money to another mobile wallet existing anywhere around the world. Ownership of smartphones is increasing in the Philippines, although the ratio of using bank accounts is lower.
PayPorter provides all alternative methods to send money to the Philippines at the most suitable conditions.
With PayPorter, you can access to the fast, safe and easy services in your transfer transactions. If you want to make Cash Transfer, all you need to do is to visit the branches or representation offices, deliver the money that you want to send to the representation office and give the recipient information; then, you should share the reference number with the recipient so that he/she can receive the money instantly. Your recipient can immediately reach the money at the nearest representation office.
If you want to transfer money to a Bank Account, it is sufficient to visit the nearest PayPorter service point, deliver the cash that you want to send and give bank account number and other information of the recipient. In this way, the money that has been sent by you very quickly will be transferred to the recipient’s bank account without the recipient being required to do anything.
If you want to make Digital Transfer, simply download the “kuikpara” as the Mobile Wallet application of PayPorter in your mobile phone. In this geography where the ratio of using mobile phones is increasing, you can transfer money to your beloved ones in the Philippines within seconds thanks to the advantages offered by kuikpara. You can immediately download kuikpara application for iOS and Android and start turning your phone into a wallet.
You can transfer all your funds to kuikpara Mobile Wallet account from banks or foreign channels and send money to your beloved ones in the Philippines as Cash Payment and Transfer to a Bank Account, in the comfort of your home, by using quite suitable prices. All you have to do for this is to download the kuikpara Mobile application in your mobile phone. Besides, your employer can even download the kuikpara application to completely digitalize their payments to you. The easiest, fastest and most suitable method to send money and receive payments is to become a kuikpara user.
Difference between a Bank and PayPorter
When you consider transferring money to your beloved ones in the Philippines, very high exchange rates may be applied to the transactions that you will make through banks. Banks are one of the most expensive and the longest methods in international money transfer transactions due to their high foreign exchange rates and transfer charges. This means that you spend half of the money that you will send to your recipient for transfer charges and foreign exchange transactions. PayPorter is the safest way to transfer money without paying high foreign exchange and money transfer charges. Besides, PayPorter offers all types of money transfer alternatives that you may not find in banks.
With PayPorter, you can make your beloved ones feel that you are with them wherever they are.