Online remittance agencies are the safest, quickest and most cost-effective mode of transferring money from US to Philippines. Compared to banks and other mediums, online money transfer services can help you save on transfer fees and currency exchange rates. For instance, when you send money from PayPal, you will have to pay around 8% as transfer fees. But when you send money online, most agencies offer lowest transfer fees and no hidden charges.
When you transfer money from US to Philippines through an online agency, make sure you have chosen a reputed company. If you know someone who has been sending money through online remittance, ask them for recommendation. You can also find out names of the best online money transfer services on the internet and compare their fees and exchange rates to make a final decision.
There are more than 9 million people from Philippines who work abroad in different countries. They send a lot of money to their country on a monthly or yearly basis. Reportedly, Overseas Filipino Workers (OFWs) and migrants sent approximately $21 billion to Philippines in 2012 and this accounted for around 10% of the GDP of the country.
Sending money through online agencies is not just cost-effective but also quick. Your loved ones in Philippines can get the money on the same day or within one day. You can be assured of safety and security of your money because reputed online agencies are licensed to carry out money transfers. Once you register with them, you will be asked for some personal information which is kept confidential. Since the required information is saved in their database, you don’t have to spend time on filling the details every time you wish to send money to Philippines from the US.