Jump to content

Western Union.. never again!


Recommended Posts

Jester
Posted (edited)

No major issues with WU,  just little ones, exchange rate being one.

We are experimenting with Remitly,  first transfer was free.

https://www.remitly.com/us/en/philippines

Edited by Jester
Link to post
Share on other sites
Kabisay-an gid
8 hours ago, Jester said:

No major issues with WU,  just little ones, exchange rate being one.

We are experimenting with Remitly,  first transfer was free.

https://www.remitly.com/us/en/philippines

 

Are you American? If so, there's no reason you would need to bother with an exchange rate.

My wife sends money from the US to the Philippines via WU with her debit card, the fee is only $5. Her brother picks up US dollars on his end, then goes to wherever he can get the best exchange rate in his municipality and converts to pesos.

 

  • Like 1
  • Thanks 1
Link to post
Share on other sites
lamoe
2 hours ago, Kabisay-an gid said:

 

Are you American? If so, there's no reason you would need to bother with an exchange rate.

My wife sends money from the US to the Philippines via WU with her debit card, the fee is only $5. Her brother picks up US dollars on his end, then goes to wherever he can get the best exchange rate in his municipality and converts to pesos.

 

Not sure how RP banks work - have my daughter's checking account (different bank)  set up so I can directly deposit money into it. Takes a few days.

She can't directly access any of my accounts and I can't access hers.

Link to post
Share on other sites
SkyMan
1 hour ago, lamoe said:

She can't directly access any of my accounts and I can't access hers.

So then how do you get your money?

4 hours ago, Kabisay-an gid said:

Are you American? If so, there's no reason you would need to bother with an exchange rate.

My wife sends money from the US to the Philippines via WU with her debit card, the fee is only $5. Her brother picks up US dollars on his end, then goes to wherever he can get the best exchange rate in his municipality and converts to pesos.

The ATM fee for BPI (up to p20K per) is also about $5 (p250) and the exchange rate is close to the rate on XE.  USAA (up to $15) and Schwab (unlimited) both refund the bank fee.

Link to post
Share on other sites
SkyMan
13 hours ago, Jester said:

We are experimenting with Remitly,  first transfer was free.

They're all decent rates on the first transfer. After that you're better using an ATM.

Link to post
Share on other sites
lamoe
Posted (edited)
3 hours ago, SkyMan said:

So then how do you get your money?

 

Chase  has most of my accounts - direct deposit - set up transfer capability  from Chase primary checking to Schwab checking / debit - use card debit for ATM

I capped it at P50,000 per day with notification if suspect activity.

Edited by lamoe
Link to post
Share on other sites
Kabisay-an gid

USAA charges you a non-refundable 1% foreign transaction fee on all atm withdrawals and debit card purchases.

Major banks like BPI have mediocre exchange rates, my Pinoy brother-in-law can do better elsewhere. Not to mention that WU is about a 2 minute walk  from his house. The nearest BPI ATM is an hour plus round trip from his house, and fuel isn't cheap in the Phils.

WU is the best option for my particular situation. YMMV.

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy and Guidelines. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..