| Tips On How To Send Money Within The Philippines For Free |
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| Written by Gil Tenorio |
| Sunday, 31 October 2010 11:19 |
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Sending money or transferring money to your loved ones to and within the Philippines is most of the time costly since you need to pay for a transfer fee. Because of this scenario, many companies take that advantages to do business of money transfer and sending money.
Sending money or transferring money to your loved ones to and within the Philippines is most of the time costly since you need to pay for a transfer fee. Because of this scenario, many companies take that advantages to do business of money transfer and sending money. In sending or transferring money to or within the Philippines, you can use the service of Western Union, Cebuana Lhuilier, M.Lhuilier or any money transfer companies. By sending money through these companies, they make a profit from the fee they charge to their clients. When sending money, choose a company which is trusted and reliable. It should be safe and fast in sending your money to your relatives even anywhere in the Philippines. Any transactions for transferring or sending money to or within the Philippines will be charged with a transaction fee, it is not free. The fee depends on the amount of money you will send, fee will be higher for higher amount of money you will send. It is not really good for the customers since you will pay money. There are other way to send money within the Philippines without paying for a fee, it is totally free. The only requirement is you need a BPI savings account. Once you have an account, you can apply for a Express Money Order card or Express Cash card. These two cards are like an ATM card but they are not a savings account. You can only have that cards if you have a BPI bank account and you will apply for that cards. If you regularly send money to your relatives, BPI Express Money Order card is a good choice. You must apply a card for your relatives with their names embedded on the card. This card is only for sending or transferring money from your bank account to the card. You cannot use it to buy something in the mall or supermarket. On the other hand, BPI Express Cash Card can be used to send money and to purchase items in the mall or supermarket provided it has enough balance. There is a P100 application fee if you want to have these cards. They have two or four years expiration from the date of issue. If you want to send money to your relatives for free, you should consider applying for BPI bank acount and then apply your relatives BPI Express Cash card or BPI Express Money Order card. As far as I know, you will be allowed to apply for up to 10 EMO or EC cards. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Bert Tenorio likes writing on personal finance, saving and investing. He resides in Korea with his family. For more information on how to Send Money to Philippines, please visit Financial Management site, for more financial management articles on saving, investing and make money online. |