Top 5 Tips to Send Money Online to Philippines

If you are working overseas and need to send money to your family in Philippines, then the quickest and safest option is online remittance. Here a few tips that will facilitate a smooth process when you send money online to Philippines. Compare online money transfer providersThere is a wide spectrum of online money transfer services but only a few deliver professional services at competitive rates. Before you finalise a company, compare the currency exchange rates and transfer fees of different companies. While some companies may provide services at no extra cost to the recipient, others may levy hidden costs for converting the currency. It is important to shop around as even a slight difference in the exchange rate will directly affect the amount that the beneficiary will receive. Choose a trustworthy provider:The most crucial step is to ensure that you use a reliable money transfer service provider. The online market is inundated with remittance agencies but you should aim to find one that conducts transactions within a legal framework. One way to ensure this is to check their track records as well as their client’s reviews.Check the turnaround time:Besides making sure that your money is in safe hands, you would also want your money to reach your beloved ones as fast as possible. With the help of advanced technology, providers can transfer money within a matter of minutes to the recipient’s doorstep. Depending on the location, money transfer providers today offer convenient delivery options such as bank deposits, home delivery or cash pickup. This is works out to be a very feasible solution during emergencies. Network of partner companies: Most of the money transfer providers work in tandem with a host of partner companies including bank partners and pick-up location vendors. This means that the provider is operating by delegating the tasks to different companies, which in turn expedites the transfer process. So, be sure to check the list of partner companies.Update the recipient about the reference number:Depending on the medium used by you for transferring the money, your provider will issue a unique transaction reference number as a proof of the transaction. Remember to inform the recipient of this transaction number as they will need it for reference when claiming the transferred funds from a cash pick-up location or home delivery. You can even track the transferred funds with the help of this number, if your provider offers this facility. Also, advise the beneficiary to get along an ID proof.In case of cash pick-up or a home delivery cash service, the recipient will also need to show proof of identity. If you want to send money from Australia to China or for that matter anywhere in the world, you can either do it through a bank or use money transfer service providers. While banks only allow bank to bank transfers, overseas money transfer providers offer various benefits.