Bank charges

[Jollygoodfellow]

Normally when using remittance services the only fee you pay is from the service itself. When using worldremit to deposit in the Union bank and PS bank I got the exact amount that was sent without the bank adding fees.

[RBM]

15 hours ago, Jollygoodfellow said:

Normally when using remittance services the only fee you pay is from the service itself. When using worldremit to deposit in the Union bank and PS bank I got the exact amount that was sent without the bank adding fees.

I use orbit remit and very happy, one of cost of $6 NZ and like JFC the exact amount appears same day in my account, day after if I activate transfer after lunch.

[Viking]

21 hours ago, Jollygoodfellow said:

Normally when using remittance services the only fee you pay is from the service itself. When using worldremit to deposit in the Union bank and PS bank I got the exact amount that was sent without the bank adding fees.

 

6 hours ago, RBM said:

I use orbit remit and very happy, one of cost of $6 NZ and like JFC the exact amount appears same day in my account, day after if I activate transfer after lunch.

When moving there, I suppose it will take some time before we can open a bank account. We will do some renovation in our house, buy new furnitures and things like that. Getting money from the atm with our foreign cards will quickly add on a lot of fees. I was thinking on sending money to myself  as cash pickup, using World remit or some  similar service. Anyone know if this will be a better solution than using atm:s? Fees are probably lower but I am not sure about the Exchange fee. Anyone have experience of this?

[Jollygoodfellow]

2 hours ago, Viking said:

I was thinking on sending money to myself  as cash pickup, using World remit or some  similar service.

I use worldremit and pick up in PS bank, well actually transfer to my GF account rather than take the cash. If your Filipina partner is opening an account and it does not take long and with PS bank you walk out with an ATM card on the spot. Not sure if other banks issue cards at the same time. 

[Gary D]

I used transferwise last week and the rate was about 0.4 pesos better than using my HSBC account, so including the fee marginally better.

[Viking]

2 hours ago, Jollygoodfellow said:

I use worldremit and pick up in PS bank, well actually transfer to my GF account rather than take the cash. If your Filipina partner is opening an account and it does not take long and with PS bank you walk out with an ATM card on the spot. Not sure if other banks issue cards at the same time. 

Problem is, my Filipina partner is no longer a Filipino citizen. She came to Sweden long time ago, when it was not possible to have dual citizenship. Because of this I suspect that it will take some time for us to open our own bank accounts there. When that is done, we will transfer to our account.

[Viking]

51 minutes ago, Gary D said:

I used transferwise last week and the rate was about 0.4 pesos better than using my HSBC account, so including the fee marginally better.

I dont think I can get a HSBC account from Sweden and even if I could there is no HSBC atm:s in the area where we will live. HSBC has 40k withdrawals i think and that is great, but the atm:s I tried with my cards only give 10k peso per withdraw with 250 p fee. Thats 1k pesos in fees for every 40k peso and the Exchange fee from my own bank on top of that. Thats why I thought sending money with cash pickup to my self could be a better option?

[Huggybearman]

There must be a mistake. I use BDO every month and they don't charge me anything for an inbound transfer. I use my UK bank as the source and apart from their charge to send it, there are no other charges. 

[Gary D]

10 hours ago, Viking said:

I dont think I can get a HSBC account from Sweden and even if I could there is no HSBC atm:s in the area where we will live. HSBC has 40k withdrawals i think and that is great, but the atm:s I tried with my cards only give 10k peso per withdraw with 250 p fee. Thats 1k pesos in fees for every 40k peso and the Exchange fee from my own bank on top of that. Thats why I thought sending money with cash pickup to my self could be a better option?

My HSBC Philippines account comes with a BankNet debit card so I can use it in any local atm, local fees and conditions apply. I have the account here and in the UK globally linked so any moving around of cash I just do online.

[GeoffH]

The cheapest way I've found is to send to SWMBO bank account using Western Union, it used to take 2 to 3 days but more recently it's same or next day which is quick enough for us.  World Remit used to be cheaper for me but it's flipped the other way when you include rates and fees just a little in the last few months.  Your currency and fees will probably be different so you need to do your own checks.