The Philippines is the second largest recipient for remittances in Asia. Contributions from Filipinos working abroad came to nearly 10 percent of the Philippine economy in the year 2012. The figure is based on remittances they send money to the Philippines. Overseas Filipino Workers (OFW) is called the “new Philippine heroes of the new century.” OFW in Australia did not mind the homesickness, long hours, and demanding employers, they make these personal sacrifices and face the daunting working conditions just to send money to the Philippines more in order to help their families back home survive in meeting the demanding daily expenses.
They are a lot of ways to send money to the Philippines. The latest and the most convenient way are through online remittance. Some Filipinos in Australia like the variety of options now available to send money to the Philippines. They can send cash online or stop by a bank or Filipino owned stores offering services for sending money to the Philippines. In deciding what services to use to send money to the Philippines for your loved ones, you need to consider some important things before choosing the best possible method for you to send your hard earned money to your loved ones.
Things to consider before you send money to the Philippines.
Safe and Security
You have to be sure that remittance company you choose is legit. Information security is critical nowadays, in sending money to the Philippines you have to be sure that your personal information is safe. Find out more about the remittance company’s reputation and track record.
The transfer and delivery method
You have to consider how your money will reach to your recipient in the Philippines. Consider if the funds are sent via direct deposit, bank to bank transfer, pick up or delivery.
Total cost in sending money to the Philippines
You have to consider the cost incurred when you choose a remittance company in sending money to the Philippines. How much cost for the service fee, exchange rates and extra charges when funds sent to your recipient’s Philippine bank account.
How fast is the service of the remittance company?
You have also consider the how fast does the funds you send to the Philippines reach your recipient. Also choose the most cost-effective way in sending money to the Philippines. Do not choose remittance company that will cost you an expensive service fee just make your sure that your money will be receive within minutes to by your recipient in the Philippines.
If the remittance company has a personalized customer service
Because you are sending your hard earned money using their services, you have to ensure that the money is in good hands and that it will be safely delivered to your loved ones in the Philippines. The remittance company’s customer service must know how to reach out just to assure that your money is safe with them.
Whatever method you will choose in sending money to the Philippines, it all boils down to what’s more convenient, reliable and less expensive for Filipinos in Australia who want to help their struggling families in meeting the daily necessities in life.