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Kaku

Anyone Tried Electronic Fund Transfers?

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Out of curiosity has anyone tried electronic fund transfers to a Philippine Bank Dollar account? There are a number of banks and brokerage accounts that allow free electronic fund transfers (provided you are transferring dollars only) between banks. Of course this assumes the bank you are sending the money to isn't charging you a fee to receive it.

 

Upon receipt of the funds, is it possible to remotely instruct the bank to transfer dollars to a peso account? Granted you'd have to accept the banks exchange rate, still this might be advantageous to some.

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try xbox. seriously dude....did you read what you wrote?

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try xbox. seriously dude....did you read what you wrote?

 

Yes I read what I write. Is english your second language?

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try xbox. seriously dude....did you read what you wrote?

 

:lol::twocents::dance::lol::):scratch_head:

 

EAGLE

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Yes I read what I write. Is english your second language?

:lol:

 

On the financial UK News just now was an announcement that UK Banks are about to approve electronic transfer of money by mobile phone to another mobile phone.

Barclays Bank has launched an APP. for SmartPhone users.

http://www.bbc.co.uk/news/technology-17057570

 

EAGLE

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:D

 

On the financial UK News just now was an announcement that UK Banks are about to approve electronic transfer of money by mobile phone to another mobile phone.

Barclays Bank has launched an APP. for SmartPhone users.

http://www.bbc.co.uk...nology-17057570

 

EAGLE

 

Thanks for the response. In my original post I was attempting to differentiate between traditional wire transfers and electronic bill paying type transfers. The later is what I was alluding to. Through my brokerage account I have the ability to make online transfers between banks and creditors.

Edited by Kaku

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yes i did it, to both a peso and canadian dollar nn resident account at hsbc in cebu.

 

dead easy. absolutely nothing special about it at all.

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I assume you are referring to transfering money from your bank(in whatever country) electronically to a Philippine bank.

 

I've been doing this for seven years and have had no problems. Here is how I work it.

 

My bank in the US is Citibank, I simply get online every six weeks and transfer my living expenses here. It cost $30 US to transfer up to $10,000.

 

I tranfer it to my Bank in the Phils which is Banco De Oro, the best for transfering money, MEtro bank is also a good. I know of severla other expats who transfer money thus bfrom such US banks as Wells Fargo and Bank America...the wire fees differ a bit and are more expensive with some of those entitites.

 

I know of one British Expat who uses (I beleive) RBS. There is another AUssie Fellow who is in the process of moving here permanenetly and has transfered money from Oz to the Phils easily although I am not sure which bank it is he uses.

 

You should also look into xoom, you can transfer money from your(foreign) bank account and transfer it to the Phils and pick it up at any Xoom outlet and most major malls such as Gaisano or SM. The problem is their cut is about one peso besides the $5.99 fee they advertise...this becomes signifigant when you transfer more than $500 or $600.

 

Lakan

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You should also look into xoom,

 

Definitely look into it before you use this service.

Xoom draw heavy flak on the Internet from disgruntled users.

I only ever used them one time and never again.

 

KonGC

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Definitely look into it before you use this service.

Xoom draw heavy flak on the Internet from disgruntled users.

I only ever used them one time and never again.

 

KonGC

 

I've never had a problem with them, as a matter of fact they are fast, I can get on the net and transfer money form my bank and have the wife pick it up at ANY outlet within an hour or two tops, if she is picking it up in cash...transfer to a bank is a little longer dependant on the business day etc.

 

The only problem I have is the larger the amount you are dealing with... the more you are gonna shell out due to the exchange with xoom is about one peso for every dollar in addition to the 5.99 fee.

 

lakan

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