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great new money transfer service

Discussion in 'Expat Section' started by filmguy, Feb 2, 2021.

  1. filmguy

    filmguy DI Member

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    just used a new money transfer service and got 49.25 per usd dollar and the first transfer was free after that 3.99 usd per transfer
    I put a link here

    http://remit.ly/13k9bn0
     
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  2. LENNY

    LENNY DI Member Showcase Reviewer

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    Hey it looks like you can not send from here to USA ???
     
  3. SkipJack

    SkipJack DI Senior Member

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    I don't know.
    Maybe there was a mistake.

    I clicked on the link and the exchange rate is only 46.54 PHP per dollar.

    More money makes it home with Remitly. Get ₱46.54 per dollar plus $15 off your first transfer. This offer won’t last, send today!

    Looking at the Thomson Reuters conversion rate for the last month has been flat at 48.10 PHP per USD.

    Are you sure you are getting 49.25 PHP per USD ? I noticed the link you posted includes a referral code. Are you getting credit for new customers?

    https://www.remitly.com/us/en/share-usa-phl?utm_campaign=usa-phl-15-15-discount-oct2020_m1&ref_code=468571fb&utm_source=referralprogram&utm_source=DI&sd=DsD0jsDjs0&utm_medium=copy&utm_medium=referral&$fallback_url=https://www.remitly.com/us/en/share-usa-phl?utm_campaign=usa-phl-15-15-discount-oct2020_m1&ref_code=468571fb&utm_source=referralprogram&sd=DsD0jsDjs0&utm_medium=copy&_branch_match_id=754065336563136831
     
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  4. jim787

    jim787 DI Forum Adept

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    A quick "google" search turns up this: "
    Is Remitly a US company?
    Registered in the U.S.A. Only Remitly, Inc. is not licensed to provide the Service outside of the United States of America. As a result, the Service may not be available for use in countries other than the United States." [I think the word "only" should not be capitalized. A common "spell check" error capitalizes it after an abbreviation with period.]
     
  5. Notmyrealname

    Notmyrealname DI Forum Luminary Highly Rated Poster Showcase Reviewer

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    I think this is the same as remitly.com and I found them a few years ago to be the most terrible of about 8 transfer services I tried. This rate you quote is a new customer offer and there does seem to be an issue as shown further below. I think they just want to grab customers (nothing wrong about that) but if they are anything like they were before then God help the customers.

    When I used them it was okay very briefly, then they started to demand masses of paperwork, including copies of receipts to prove my spending. I pointed out that the money was for future purchases and so how could I give receipts for things I have not yet purchased - it was like talking to a brick wall and they continued the same demands. Their rates were not very good either! After about 30 crazy email exchanges with them I just stopped using the 'service' (with a VERY big SIGH of relief) and now use Transferwise (often best rate and best service).

    This is a snip today from a 'mock' transfer I entered:

    Remitly.PNG

    It shows this as a new customer offer and the rate as 49.25 and zero fees - on the right side it shows the fee as zero (so means they were treating this transaction as a new customer?) but the rate was 47.89 for $1000. Therefore, either this was for new customers and the rate is not 49.25 OR (more likely) is this is the rate they will offer after the first transfer (confused as @SkipJack wrote above "I clicked on the link and the exchange rate is only 46.54 PHP per dollar.") - something not clear here and reflecting my experiences with them.

    Whatever the situation, I am very confident that Transferwise (and BCremit for UK customers) is a far better choice, unless Remitly have transformed their attitudes (and rates) amazingly. Remitly? My opinion: AVOID.
     
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    Last edited: Feb 2, 2021
  6. Always a Poppy

    Always a Poppy DI Senior Member Restricted Account

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    I had a look at GBP vs PHP today vs Transferwise. Offered 67 to the pound, which is about 1.4PHP more than market rate, and zero fees. Applicable for the first £1,000 transferred. A bargain, I though and would provide PHP1,300 more for GBP1K compared to Transferwise today.

    Then I thought I remembered somewhere in my memory banks that we had used them before and changed because of similar issues described elsewhere here, so I thought better of it, just for a potential one-off gain. The longer term rates and fees quoted were not as competitive as Transferwise.
     
  7. LENNY

    LENNY DI Member Showcase Reviewer

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    CAN YOU SEND MONEY ROM HERE TO USA WITH TRANSFERISE AND VICE VERSA ??
     
  8. SkipJack

    SkipJack DI Senior Member

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    At the moment TransferWise does not accept money from Philippine banks. So you cannot send money from the Philippines to anywhere using TransferWise.

    On the other hand you can use TransferWise to send money from most countries to a Philippine bank account. Many members on this forum recommend TransferWise for sending money from the US or Europe to the Philippines.

    From what I read online it is possible to wire transfer money from a Philippine bank to a foreign bank. This is probably the safest way with slightly higher fees.

    If you need to send small amounts to an individual you can use Western Union.

    This site shows that WorldRemit accepts money from Philippine bank accounts.

    https://www.finder.com/ph/international-money-transfers/send-money-to-usa
     
  9. Ozzyguy

    Ozzyguy DI Member

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    I use TransferWise from Aust to a few country's just about weekly, check the rates once and awhile but always the best.

    The travel card is rubbish.
     
  10. okiebound

    okiebound DI Forum Adept Showcase Reviewer

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    I have been using Remitly for several years to send money to the Philippines from the US. It is fast and reliable, and the $3-$5 USD transfer fee is nominal. No fees for the recipient.
     
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