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Remitting monies to Philippines


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seankyh

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Nov 30, 2004
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#1
Does anyone know how I can help my domestic worker remit some of her pay back to an account in the Philippines?

Where would be a good place to do this? Lucky Plaza? (don't go there often).

Anyone know how much it costs and the commission involved?

Thanks!!
 

Nisa

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Aug 13, 2004
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#2
WEstern union!!
I will ask around for the best one... cause Western union is a bit more expensive .....:think:
 

hongsien

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#3
Depends on the amount, since you want to send it to an account (I assume bank account) then you have no other choice than sending it through a bank from here, costs about SGD 40 fixed per transaction......

Western Union charges by percentage, not so economical (well it is for them!)
 

vendeta

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#5
Does anyone know how I can help my domestic worker remit some of her pay back to an account in the Philippines?

Where would be a good place to do this? Lucky Plaza? (don't go there often).

Anyone know how much it costs and the commission involved?

Thanks!!
use I-remit in lucky plaza, very reliable you just need to give them the account number you want to send money to, the remittance fee is around 3sgd whatever the amount your sending to that account.
 

Hawaiisg

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#6
yup...agreed, i use metrobank (i forget) Western Union is the worst one because they take a ridiculous percentage of what you want to remit. metrobank only takes 3 or S$4 (forget again) no matter how much or how little i send.

one thing, there is a monetary limit as to how much per month you can send. i think it's
S$5,000. about 7 months back my wife and i were told we could not remit anymore because it's over the limit (S$5000 a month)...something to do with money laundering. i guess the government is too lazy to do it's job and investigate suspicious cases and would rather people suffer.
 

seankyh

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#7
Hey guys, thank you all for this. I-Remit sounds pretty good so far. Will look around in Lucky Plaza for this. Of course if you already have the details, please let me know.

Cheers,
Sean.
 

seankyh

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#8
One more thing I noticed, looks like there are 2 parameters here when remitting monies.
One is the fees and the other is the exchange rate. Looks like I should do some research to see... could be they charge low fee but bad exchange rate.
 

skf

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Jan 18, 2002
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#9
One more thing I noticed, looks like there are 2 parameters here when remitting monies.
One is the fees and the other is the exchange rate. Looks like I should do some research to see... could be they charge low fee but bad exchange rate.
Exchange rates varies everyday and are posted. Take a walk around the remittal agents and POSB and see for your self that particular day.

Service charges - not sure about the rest, but POSB charges $6/- per transaction for Philippines. Occasionally, they may have promotions which could see the service charge as low as $4/-. Competition is stiff, so chances are the differences may not be that much.

So far, I have only been using POSB; have not tried the rest before. I guess since it works, I did not bother to change. After all, can transact by NETTS also..
 

seankyh

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#10
Exchange rates varies everyday and are posted. Take a walk around the remittal agents and POSB and see for your self that particular day.

Service charges - not sure about the rest, but POSB charges $6/- per transaction for Philippines. Occasionally, they may have promotions which could see the service charge as low as $4/-. Competition is stiff, so chances are the differences may not be that much.

So far, I have only been using POSB; have not tried the rest before. I guess since it works, I did not bother to change. After all, can transact by NETTS also..
Hi skf, did you do this at any POSB or just the one at Lucky Plaza? I ask this because I just called the hotline and I was told that from the 17th April onwards, the Lucky Plaza branch is closing.
 

Nisa

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#11
Can try Post Office 's "cash home"
 

skf

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#12
Hi skf, did you do this at any POSB or just the one at Lucky Plaza? I ask this because I just called the hotline and I was told that from the 17th April onwards, the Lucky Plaza branch is closing.
The last time I did a remittal was at the Buffalo Road Branch few months back (same services and operating times as Lucky plaza branch); I was told there were closing and that remittal services would be available at all POSB branches. You may want to pop into your nearest POSB branch and ask..
 

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