Sending money these days

You all do know that SSA and VA will deposit directly to some Filipino banks dollar for dollar... I have been using BDO for this 3 + years now without any problems and I then choose when to convert to my peso account... I pay a 500 peso fee for this account monthly...

 

500p fee for which account monthly? The rest I know but I rather keep my money tied and secured in the US as well as it keeps my credit lines open.

 

The direct deposit dollar account which serves both the SSA and the VA, one charge of 10 dollars a month

 

MetroBank has US$ accounts. You need $500 US cash to open the account.
Funds that arrive in US$ are charged $5 for incoming money.
When US$ are converted to Pesos the conversion rate is about 0.8% below the XE.com rate.

 

Sounds similar to BDO's. I'm not a fan of the $500 minimum balance with BDO and think MetroBank is the same. This may be the cheapest way though its seeming.

 

Along these same lines are there any issues picking up money at a Western Union representative in Dumaguete? Are they open?

 

This thread appeared before (I know this one is here because of wanting an update) but the important information still is to check Rate of Exchange PLUS Fees - too many people get attracted by a low fee and don't see how a small difference in exchange rate can make it more expensive. Obviously, companies offer low fees for that reason.

 

With that in mind have to account for all fee's and not just the obvious as well. Such as fee's for withdrawing or transferring from a dollar account or dollar account maintaining fee (if there are), local bank exchange rates, and various other bits and pieces. My from checking it appears as if there is a 1-2k loss doing an average way that is very quick and simple vs the more budget minded way which is slower and a bit more complex. Just saying gotta account for all factors as well.