Dumaguete Info Search


Best Posts in Thread: Sending money these days

Page 1 of 2
  1. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

    Messages:
    13,106
    Trophy Points:
    451
    Occupation:
    FIRE
    Location:
    Valencia
    Ratings:
    +16,069 / 3,796
    Blood Type:
    O+
    You can set it up but beware; pulling cash out of an ATM with a credit card is called a cash advance and will likely be subject to their interest rates, which are going to be very high, regardless if you pay it off in full at the end of billing cycle.
     
    • Agree Agree x 6
    • Thanks Thanks x 1
    Rye83, Apr 6, 2020
    #35
  2. Kilam63

    Kilam63 DI Member Showcase Reviewer Veteran Air Force

    Messages:
    108
    Trophy Points:
    178
    Occupation:
    Retired
    Location:
    Valencia
    Ratings:
    +140 / 6
    Blood Type:
    A+
    Transferwise! www.transferwise.com found it a better deal even if you had a dollar account since you lose a bit of peso converting.
     
    • Agree Agree x 5
    • Informative Informative x 1
    Kilam63, Mar 31, 2020
    #2
  3. Liverpool fan

    Liverpool fan DI Senior Member Showcase Reviewer

    Messages:
    827
    Trophy Points:
    321
    Location:
    Philippines
    Ratings:
    +1,094 / 279
    Blood Type:
    O+
    Taking 100 k out of Atm with Mastercard(I know max 20 k in one transaction) or send by TransferWise I save 5-6 k pesos on 100 k that's a big difference
     
    • Agree Agree x 2
    • Like Like x 1
    • Informative Informative x 1
    Liverpool fan, Apr 7, 2020
    #38
  4. Liverpool fan

    Liverpool fan DI Senior Member Showcase Reviewer

    Messages:
    827
    Trophy Points:
    321
    Location:
    Philippines
    Ratings:
    +1,094 / 279
    Blood Type:
    O+
    Using Mastercard cost a fee 450-500 pesos to split between the Philippine bank and fee to the bank who issued your card, then a bad exchange rate and then 3% on the amount you take out of ATM or that what it cost me, TransferWise is god and cheap from my point of view
     
    • Agree Agree x 3
    • Informative Informative x 1
    Liverpool fan, Apr 7, 2020
    #36
  5. Dutchjob

    Dutchjob DI Member

    Messages:
    202
    Trophy Points:
    180
    Occupation:
    Fulltime Gago, part time manager
    Location:
    Negros
    Ratings:
    +227 / 39
    Transferwise
    Best rate
    Lowest fee
    Mostly same day on my pnb account.
    Super simple site or app.

    See no reason why to look for another service
     
    • Agree Agree x 3
    • Like Like x 1
    Dutchjob, Apr 2, 2020
    #21
  6. Notmyrealname

    Notmyrealname DI Forum Luminary Highly Rated Poster Showcase Reviewer

    Messages:
    4,957
    Trophy Points:
    386
    Ratings:
    +5,632 / 2,899
    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.
     
    • Agree Agree x 3
    Notmyrealname, Apr 1, 2020
    #19
  7. Notmyrealname

    Notmyrealname DI Forum Luminary Highly Rated Poster Showcase Reviewer

    Messages:
    4,957
    Trophy Points:
    386
    Ratings:
    +5,632 / 2,899
    I have compared the amount received in pesos for a certain amount of currency (GBP in my case) - Transferwise beats everyone I checked (and I checked at the same time).

    Remitly in my experience was hopeless, totally hopeless. They asked what I wanted the money for and I told them for food and eating out. They then asked for receipts for those purchases BEFORE I HAD RECEIVED THE MONEY!

    I ended up with about 25 e-mail exchanges trying to get sense out of them. Perhaps they have now improved their service but their rate is low - I have found Transferwise to be the best rate and the most efficient service. With recipients already listed on my account it takes about 3 minutes to make a remittance and within a day (if a weekday) to receive.
     
    • Agree Agree x 3
    Notmyrealname, Apr 1, 2020
    #8
  8. Deadeye

    Deadeye DI Junior Member Blood Donor Veteran Army

    Messages:
    16
    Trophy Points:
    33
    Occupation:
    Disabled vet
    Location:
    Dumaguete
    Ratings:
    +4 / 0
    Blood Type:
    B+
    I USE BDO DOLLAR ACCOUNT DIRECT DEPOSIT NO MINIMUM NEEDED I HAVE USED IT FOR 4 YEARS AND I JUST EXCHANGE TO PHP THROUGH THE BANK WHEN I WITHDRAW.. IF YOU HAVE DOLLAR ACCOUNT YOU CAN CHOOSE DOLLAR OF PESO
     
    • Like Like x 1
    • Informative Informative x 1
    Deadeye, Feb 19, 2021
    #44
  9. mattchu5150

    mattchu5150 DI Member

    Messages:
    134
    Trophy Points:
    161
    Location:
    Dauin
    Ratings:
    +168 / 32
    This is by far the best method, Chase cards give bank rate on, and at time of purchase. Some advice I can offer for Xoom, DO NOT send USD to PHP, instead send USD to USD then pick up at location and request PHP at that time, wherever you pick up will give you their current rate. It is usually less than 1 peso bank rate.
     
    • Like Like x 1
    • Agree Agree x 1
    mattchu5150, May 22, 2020
    #42
  10. Always a Poppy

    Always a Poppy DI Senior Member Restricted Account

    Messages:
    658
    Trophy Points:
    166
    Location:
    Philippines
    Ratings:
    +828 / 142
    I just did a comparison of World Remit vs TransferWise sending £1k GBP and the receiver would get cP500 more with TransferWise, so I've signed up to them.
     
    • Agree Agree x 2
    Always a Poppy, Apr 7, 2020
    #37
Page 1 of 2