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#1 2016-08-24 20:27:12

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 2,103
Trades :   38 

Sending money to Phillipines

HI I need to send two people $200 each to Philippines on a monthly basis, I bank with ANZ and I recall I should use alternatives for cheaper fees.

I was wondering, do member have suggestion?

Any suggestions for reputable online companies I should look at to send it with minimal fee but safe direct to their bank account.


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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#2 2016-08-24 20:58:15

SilverDJ
Member
From: Australia
Registered: 2014-11-01
Posts: 2,501

Re: Sending money to Phillipines

Do you mean bank fees or currency conversion as well?
I use www.currencyfair.com for conversion and international transfers, much better rate than the banks.

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#3 2016-08-24 21:12:28

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 2,103
Trades :   38 

Re: Sending money to Phillipines

Thanks just to let members, and those multiple people telling me not to send money to any dating agency or sick people I meet online smile

The two staff actually get paid for the work though the company I work for in Sydney ie its not personal payment for extra task outside of work they do for me.

Due to how the company is set up, basically unlike my Australian staff, I dont have direct control on how much they get paid.

So this is my little bonus for them for job well done.

My belief is always to treat people well and they will do well for me.

Last edited by Ipv6Ready (2016-08-24 21:16:34)


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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#4 2016-08-24 22:38:46

yennus
Silver Stacker
From: Shanghai:Sydney
Registered: 2010-10-24
Posts: 4,785
Trades :   431 
Website

Re: Sending money to Phillipines

Send Bitcoin smile

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#5 2016-08-24 22:42:39

Altima
Silver Stacker
From: Canada/Singapore
Registered: 2013-02-07
Posts: 4,088
Trades :   64 

Re: Sending money to Phillipines

yennus wrote:

Send Bitcoin smile

I'm already having difficulty finding someone to sell me BTC. Lol


"Two things define you. Your patience when you have nothing, and your attitude when you have everything."
WTB:
WTS: 2010 Fiji 1 oz Silver $2 Taku BU (First Year Issue)

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#6 2016-08-24 22:44:31

ego2spare
Member
From: Australia
Registered: 2013-06-01
Posts: 1,694
Trades :   30 

Re: Sending money to Phillipines

I send money all the time to the philippines. Its usually through a philippino shop that we go to and wire the money. Most remit services charge a fee of between $7-$12 to send any amount of money. So the exchange rate would basically stay the exact exchange rate at the time. An online one that my gf uses sometimes is iremit.com.au which alows you to use services like Cebuana Lhuillier and
MLhuillier which philipinos usually perfer


There were more millionaires created during the Great Depression than any other time in history.

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#7 2016-08-24 22:46:05

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 2,103
Trades :   38 

Re: Sending money to Phillipines

not too sure sending bitcoin is feasible to non bitcoin followers.

I might as well send them NZ dollars in an envelope lol

Not saying bitcoin is bad, but dont think it is suited for this


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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The following user says thank you for this post: Silverman99

#8 2016-08-24 23:44:09

yennus
Silver Stacker
From: Shanghai:Sydney
Registered: 2010-10-24
Posts: 4,785
Trades :   431 
Website

Re: Sending money to Phillipines

They can cash out with Localbitcoins Philippines smile

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#9 2016-08-25 01:12:23

danman49
Silver Stacker
From: Adelaide
Registered: 2012-07-19
Posts: 3,968
Trades :   483 

Re: Sending money to Phillipines

Pay Pal friends and family might be an option.  The exchange rate is less than a bank and other organisations but there should be no to very negligible fees (might be a small one for sending money over a counties border from memory).   If you are sending around $200 to separate bank accounts you will end up paying 2 lots of bank or institution fees each month which has got to be a lot higher than what you would save on getting slightly better exchange rates through a bank.

OR........ if you can set yourself up a bank account in the Philippines then send your money over in one large amount in AUD to save fees and get a better exchange rate (our banks give crap rates for conversion at this end).  Then use internet banking for your Philippine account to transfer the money each month or set up a monthly payment.  This is how I pay my bill in Thailand and it works fine.

One point is never to change the money from AUD to another currency at this end.  Banks in Asia generally give a much better exchange rate than our banks when you send the money over in AUD.

Last edited by danman49 (2016-08-25 01:15:44)

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The following user says thank you for this post: Ipv6Ready

#10 2016-08-25 04:20:57

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 2,103
Trades :   38 

Re: Sending money to Phillipines

I will need to investigate. Thank you for suggestion, please keep them coming, I will need to look at pay pal, it is convenient for me. I upload cash and send it to them in AUD, but I should discuss with my staff the implications too.

Also I cant really send to one and ask them to share.

To me it make little difference but in Philippines $30 is a sizeable amount I suspect..


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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#11 2016-08-25 07:41:42

Roswell Crash Survivor
Silver Stacker
From: Zeta Reticuli
Registered: 2011-04-11
Posts: 1,909
Trades :   31 

Re: Sending money to Phillipines

PayPal is the best low-cost option I can think of that would not require a lot of effort to set up.


The Roswell Crash Survivor

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#12 2016-08-25 08:08:43

Roswell Crash Survivor
Silver Stacker
From: Zeta Reticuli
Registered: 2011-04-11
Posts: 1,909
Trades :   31 

Re: Sending money to Phillipines

Ipv6Ready wrote:

To me it make little difference but in Philippines $30 is a sizeable amount I suspect..

Big Mac Index
US$5.04 in U.S.
US$4.30 in Australia
US$2.82 in Philippines

1.5x so your AU$30 spends like AU$45 in Manilla, not nearly as big as you may think.


The Roswell Crash Survivor

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#13 2016-08-25 09:01:49

Lord_Dudley
Silver Stacker
From: The Pilbara
Registered: 2012-12-28
Posts: 246
Trades :   33 

Re: Sending money to Phillipines

Try

Peramaxonline.com

They have an ANZ bank account. 

I have been using them for 3 yrs now. Monthly.



Ipv6Ready wrote:

HI I need to send two people $200 each to Philippines on a monthly basis, I bank with ANZ and I recall I should use alternatives for cheaper fees.

I was wondering, do member have suggestion?

Any suggestions for reputable online companies I should look at to send it with minimal fee but safe direct to their bank account.


All men dream: but not equally. Those who dream by night in the dusty recesses of their minds wake in the day to find that it was vanity: but the dreamers of the day are dangerous men, for they may act their dreams with open eyes, to make it possible.'   -  T. E. Lawrence (Lawrence of Arabia)

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#14 2016-08-26 18:05:47

ego2spare
Member
From: Australia
Registered: 2013-06-01
Posts: 1,694
Trades :   30 

Re: Sending money to Phillipines

Roswell Crash Survivor wrote:
Ipv6Ready wrote:

To me it make little difference but in Philippines $30 is a sizeable amount I suspect..

Big Mac Index
US$5.04 in U.S.
US$4.30 in Australia
US$2.82 in Philippines

1.5x so your AU$30 spends like AU$45 in Manilla, not nearly as big as you may think.

No. your $30 australian actually spends like $180+ in the philippines. Fast food there is something for the 'well offs' or a rare treat day.
That 130 peso big mac is something that the people who work in mcdonalds cant really afford. I know a guy who works at mcdonalds there and earns 280 pesos a day (on a good day)... can u imagine working a 8 hour day at maccas here and only being able to afford 2 big macs? Thats the equivalent of a $72 big mac Aud.
I think the big mac index only works for western countries

Edit: i asked him. Its 10 hour days for 290p ($8.20)

Last edited by ego2spare (2016-08-26 19:09:11)


There were more millionaires created during the Great Depression than any other time in history.

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#15 2016-08-26 18:38:32

billybob888
Member
From: Australia
Registered: 2014-01-08
Posts: 1,489
Trades :   150 

Re: Sending money to Phillipines

I use transferwise, cheaper than Paypal

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