Money Bookers

Comparison of Money Transfer Services to Philippines

Friday, August 14, 2009

Click here for global money transfer service providers.
This article presents a birds eye view of the terrain covering fund transfer agencies that cater OFWs. We have compared various service providers considering factors such as, 'transfer time', 'transfer fees', 'features and limitations' and 'countries served'.

note Please read our detailed primer on money transfer to learn about hidden charges and poor rates your transfers may incur.


Transfer fee structure
Each agency has a very distinct charge/fee structure, which makes for a difficult comparison. However, the following tables give a better idea of the charges (click 'Transfer fee' links). We recommend that you check the respective agency web site for latest information as their services and fees are subject to change.

Remittance services: Banks
Citibank Remittance services offered by Citibank
Transfer Type Description Transfer Time Transfer Fees Features & Limits Countries Served
ACH* Transfer Fund transfer with ACH network 4 business days No charges Online transfer size
and frequency are limited.
US
Citibank Global
Transfers Facility
Fund transfer from local
Citibank account to Citibank
account in Philippines
1 business day No charges Online transfer size
and frequency are limited.
Available in
Wire Transfer Electronic transfer 1 business day No charges. Available in
PNB Remittance services offered by Philippines National Bank
Transfer Type Description Transfer Time Transfer Fees Features & Limits Countries Served
PNB Branch and
Online
Transfer through PNB branch
and web site.
Transfer Time US , Canada , UK , Singapore Credit to Account or
other Local Bank,
Door-to-door,
Advise and Pay
(Over the Counter)
US, Canada, UK,
Singapore
Remit Home Remittance services offered by Remit Home
Transfer Type Description Transfer Time Transfer Fees Features & Limits Countries Served
Remit Home Online Online transfer through
Remit Home web site.
2-5 business days
Expedited delivery
(same day)
Transfer fee Cash pick-up, direct
deposit & door-step
delivery available.
US
Lucky Money Remittance services offered by Lucky Money
Transfer Type Description Transfer Time Transfer Fees Features & Limits Countries Served
Lucky Money Transfer through Lucky
Money web site & agents.
Economy: 5 business days
Deluxe: same day
Transfer fee
    Economy
    Deluxe
Cash pick-up, direct
deposit & door-step
delivery available.
US

Remittance services: Non-banking agencies
MoneyBookers A service for individuals and merchants to send and receive money online using an E-mail address or payment buttons.
Transfer Type Description Transfer Time Transfer Fees Features & Limits Countries Served
Money Bookers Online transfer through
MoneyBookers web site.
Bank transfer: 2-5 business days
Credit card: Instantly
Cheque: Upto 10 days
Transfer fee Receiver needs to have
a MoneyBookers account.
Available in
iKobo Online money transfer service offered by IKobo.
Transfer Type Description Transfer Time Transfer Fees Features & Limits Countries Served
iKobo - Convenient Money Transfer Online transfer through
iKobo web site.
4-8 business days Transfer fee ,
Additional fee
Withdrawals through
iKobo Visa card.
Tracenotes Deal +++
Anywhere Visa
is accepted
Xoom Reliable money transfers to all over the world at a great price from the convenience of your computer.
Transfer Type Description Transfer Time Transfer Fees Features & Limits Countries Served
Use Xoom to Send Money to the Philippines Online transfer through
Xoom web site.
Value service: 2-5 business days
Standard service: Instantly
Transfer fee Cash pick-up, direct
deposit & door-step
delivery available.
Available in

Learn more about SWIFT BIC, ACH, IBAN and ExpressSend.

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