Jump to content

How do you send money to the Philippines With PayPal


Recommended Posts

Goetz1965

I have my german paypal account and I see they have XOOM now - but before I test it with my own money and probably loose a lot (ha ha ha) let me ask you guys.

I can send money to a philippine cellphone number - but can I also "load" my Gcash wallet via XOOM from my paypal account?
Can I directly transfer money to phillipine bank accounts and if yes how lon does that usually take?

Is there any better way transfering money from paypal to the philippines?

  • Like 1
Link to post
Share on other sites

step 1. german paypal > german bank account ( no fees )
step 2. german bank account > transferwise.com > filipino bank account

about transferwise, market rate exchange rate + very low fee, and most transfers take less than 1 hour from my experience (transfers to bdo/unionbank/bpi are all fast)
its my go to service for sending money internationally, used them for years, sent a lot of money through them

Edited by Dutch
  • Like 4
Link to post
Share on other sites
Soupeod
10 hours ago, Dutch said:

step 2. german bank account > transferwise.com > filipino bank account

about transferwise, market rate exchange rate + very low fee, and most transfers take less than 1 hour from my experience (transfers to bdo/unionbank/bpi are all fast)
its my go to service for sending money internationally, used them for years, sent a lot of money through them

Same for me:

Step 2. USA bank account > transferwise > Filipino bank account

Link to post
Share on other sites
Goetz1965

Ok thanks. So theres really no better way than transferwise or creditcard at HSBC Ayala then. 

Link to post
Share on other sites
3 hours ago, Goetz1965 said:

Ok thanks. So theres really no better way than transferwise or creditcard at HSBC Ayala then. 

transferwise is the lowest fee I could find for transfers lower than say 10k euro

if u are sending a very large amount talking to your bank is a good idea as they might help setup a transfer at market rate

Link to post
Share on other sites
East Saxon
On 9/30/2020 at 12:53 PM, Dutch said:

transferwise is the lowest fee I could find for transfers lower than say 10k euro

if u are sending a very large amount talking to your bank is a good idea as they might help setup a transfer at market rate

Plus Transferwise give a good Exchange rate compared to others.

Link to post
Share on other sites
  • 2 weeks later...
Janneo

Thanks for the TransferWise tip! It saved my day. It took almost 24 hours but think my bank in Sweden was the slow party.

 

 

 

  • Like 2
Link to post
Share on other sites
Goetz1965

Always use creditcard with transferwise. Transfer is done within MINUTES!
If you transfer from any european bank accont it always takes 1 day until its with the transferwise bank account in britain. As it always takes 1 DAY to transfer from 1 german bank to a different german bank because the bank mafia that way uses our money to make even more money and tell us it's necessary and doesn't go faster...

Luckily the philippines is 3rd world and uses OLD technology where I send money online from BPI to Metrobank and that underdeveloped technologie here does it within seconds...

Link to post
Share on other sites
Janneo

Agreed, after the transfer is approved it should just take seconds. But this time I'm very happy with the 24 hours.

I already waited 7 weeks to get my hands on that money and was about ready to start using my jar with coins.

 I sent a document on september 19 to my bank telling them to move money between 2 accounts. Used LBC for that. LBC contacted me 3 weeks later and said it's in Sweden but can't be delivered without a contact person, which I thought was strange. I tried finding such a person to no avail. Talked with LBC again and they just repeated they need a contact person. I found out that DHL was the one doing the delivery. Contacted DHL swe but they could not assist without their tracking number. Texted twice to LBC asking for the number, no reply. Went in person to LBC, still couldn't get the number. Then I figured out that maybe DHL PH could help and finally got DHL's tracking number. With that DHL swe was more responsive. I told them the delivery address and a few days later it finally arrived.

Then it took another 10 days for the bank to move the money, wtf?

Late last week it was at last on my account and I logged in and tried to send it to PH but for some reason the bank no longer allows sending to PH, wth!

Spent a few days trying to figure out how to get the money and then by accident i read this thread.

Yup, I'm happy with 24 hours. :-)

Link to post
Share on other sites
16 hours ago, Goetz1965 said:

Always use creditcard with transferwise. Transfer is done within MINUTES!
If you transfer from any european bank accont it always takes 1 day until its with the transferwise bank account in britain. As it always takes 1 DAY to transfer from 1 german bank to a different german bank because the bank mafia that way uses our money to make even more money and tell us it's necessary and doesn't go faster...

Luckily the philippines is 3rd world and uses OLD technology where I send money online from BPI to Metrobank and that underdeveloped technologie here does it within seconds...

Problem with your specific bank.
Instant SEPA lets you send money all over europe in seconds 24/7 if both sender and receiver's bank support it.
I have 3 bank accounts in the EU, one of which is german based, all of them support instant SEPA.
Payments I send to transferwise are instant for me.

The mafia part, I think you are getting at the old myth that banks hold transfers just to make some extra money from the interest.
That practice has been illegal for quite a while, and doesn't make much sense in 2020 anyways because of ECB's negative interest.

Using your CC on transferwise is actually not advisable, the fee is much bigger as you suddenly have mastercard/visa taking a cut, and they are more expensive than SEPA payments.

Edited by Dutch
  • Like 1
  • Thanks 1
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..