That would be okay if sending a large amount. I used this method 12 years when I was building the house, I sent 8k GBP and I think the fees were 16 GBP .
When you guys send money through World Remit or Remitly does the data remain for the next time you send or do you have to type all the data in again from scratch.? (We had an issue today with Nationwide misspelling the mother in laws name so the transaction wouldn’t go through). We are thinking of changing the way my wife sends to World Remit or Remitly for example.
The main data remains, ie addressee details, phone, email a.s.o. There is a function for the card number to stay on file for further use, but we decided not to do that. It is easy enough to open the wallet and do it on the fly as and when. Remember that for cash collection, your nearest and dearest, is required to show two items of identity. My wife and I, both have accounts with worldremit,
That’s good as with Nationwide they do not retain any data so everything has to go back in every time. Pain in butt.
speaking of all of this, the pound is back to a very poor exchange rate again across the board the best rates are mid 61 ish..
So today Mrs Ash used World Remit instead of Nationwide’s bank to bank service. It was indeed easier and cheaper. It seems like moving out of the Stone Age but having said that my mother in laws account is still run by pass book without a card.
We used to do cash pickup before but direct to the bank has been more convenient for Mrs Ash’s mother in law.
Ok. I only mentioned it as none of our lot has a bank account, and when my wife left her ATM card with PIN, before getting to the UK, we discovered that there were bank charges by withdrawing money from the various machines. And some of those charges were different, depending on location and who owned the ATM....... Crazy. huh?? So since then, we opted for cash pick-up.
We held off from bank to bank at first as cash pickup was easier for us (or at least as we thought), but bank to bank saves the mother in law a lot of hassle. I recall sending my wife’s visa application money by Moneygram in 2011. She didn’t have an account. She wasn’t very comfortable lugging that about.
Sorry to resurrect an old thread but what is the latest consensus on sending money to the Philippines. My wife sends relatively small amounts (£200 say) every couple of months and I generally either use Metro Remittance, London (bank to bank) or Western Union (cash pick up). Western Union is generally the easiest but usually has the inferior rate. However, their transaction fee is generally lower than MetroRemit, £3.90 vs £7.50. I've recently sent £550 and for comparison MetroRemit offered P38,583 vs Western Union P38,187 I sent the money before seeing this thread. It looks like WorldRemit would have offered P39,327 but that was a 'promotional 1st time special rate'. For fairly regular smallish transfer amounts would I gain much by shopping around, or are they all pretty much of a muchness? Thanks for any brief comments or suggestions. (Or is there an upto date thread I have missed and could refer to).
Wise: the international account | Money without borders These days I use these guys, fee's have been creeping up recently but the FX rate is basically the international bank rate, I converted £1000 today, FX rate 71.386 peso to the pound fee £5.17 I now have 71,016.93 peso as a result of that transaction, that money is in my Wise Account I've not transferred it yet to my kids and I can keep the cash there as long as I want. I didn't need to convert this today but my gut feeling is that rates over 71 are probably getting close to the peak that we will get so I am just locking in some peso for future transfers. The fees are proportional smaller transfer smaller fee.
Thanks for that link, I'll keep it in mind should the wife have to send any larger amounts in the future. Any experience with changing Philippine peso back to sterling in the UK. The wife bought back P32,000 last year and it's burning a hole in my wallet. The Post Office recently offered about £400 and Marks and Spencer a little more at £415 I think. Probably best to keep hold of it until her next visit unless there is a fantastic foreign exchange service which I'm unaware of? Cheers, Simon
They'll all rob you if you change peso in the UK, if the rate she got buying the peso was half decent at the time she bought the peso then it would be better to keep it and use it later. However if the peso strenghthened significantly against the pound then it could possibly be worth converting the peso back to pounds.
It used to be Transferwise, but the very best for me now is BCremit, £4.99 to send £1200 and good with a good exchange rate.
BC Remits betters Wise on price, I've used it a half dozen times now, £4.99 to send £1200 this was 4 weeks ago, Wise will be around £14 or even more? around 6 months ago when I changed from wise this fee from BC was only £2.99 per £1000
Where did you get £14 from for £1200 it's nothing like that. XE.com was quoting 70.1776 at the moment I got this quote off Wise. BC Remit site shows:- BC Remit is taking a small amount on the FX rate it is a fraction better but only by about 100 odd peso