Jump to content
JGP

BPI bank fee(s) for Western Union US bank account to Philippines bank account money transfer?

18 posts in this topic

Recommended Posts

Hello,

 

According to the Western Union website, to transfer money (USD) from a US bank account to a Philippines bank account (BPI specifically and account in Philippine pesos) requires no fee and the exchange rate paid is a higher rate than other forms of transfer.

 

I was sondering if anyone has experience using this Western Union bank to bank method and whether or not there is a fee from BPI and what that fee may be. If anyone has any insight, I'd appreciate your reply. Thank you very much. 

Share this post


Link to post
Share on other sites
2 hours ago, JGP said:

Hello,

 

According to the Western Union website, to transfer money (USD) from a US bank account to a Philippines bank account (BPI specifically and account in Philippine pesos) requires no fee and the exchange rate paid is a higher rate than other forms of transfer.

 

I was sondering if anyone has experience using this Western Union bank to bank method and whether or not there is a fee from BPI and what that fee may be. If anyone has any insight, I'd appreciate your reply. Thank you very much. 

What bank do you use in the USA? A number of banks you can do the same thing without having to go through WU. A fair number of people like myself on here don't use WU at all because of the fees involved and how much they charge. 

Yeah you can go in person to a WU location and they charge a nominal fee but why do that when I can go online to zoom, remitly or any number of other remit places like that without having to leave the comfort of my living room. If you use WU they charge a boatload more money and the people can't get the money for 3 days.

Share this post


Link to post
Share on other sites
2 hours ago, JGP said:

Hello,

 

According to the Western Union website, to transfer money (USD) from a US bank account to a Philippines bank account (BPI specifically and account in Philippine pesos) requires no fee and the exchange rate paid is a higher rate than other forms of transfer.

 

I was sondering if anyone has experience using this Western Union bank to bank method and whether or not there is a fee from BPI and what that fee may be. If anyone has any insight, I'd appreciate your reply. Thank you very much. 

 

I tried WU years ago, there were fees and their exchange rate was one of the worst.  Never known WU to not charge a fee.  

 

This from the WU website just now, P500 = $10, OUCH!!! And their exchange rate still sucks.  :  From March 1 – December 31, 2017, enjoy a flat transfer fee1 of Php 500 on all direct to bank transactions.  

 

I tried XOOM for a time also, they charge a fee and the exchange rate was a little better.. 

 

Then I tried REMITLY, no fee and the exchange rate is even better  yet.

 

Remitly 49.81
Xoom 49.71
Western Union 48.93

Rates last updated: less than 1 hour ago

 

I keep looking for a better company, I looked at Wells Fargo they charges a fee and their exchange rate isn't that good, so I stay away from them too.

 

I am still using REMITLY, and will be until a better exchange company shows up.

 

  This link will take you to REMITLY

Share this post


Link to post
Share on other sites

I have used WU, fee was too high and poor exchange rate

 

Xoom, There customer service was horrible.

 

LBC (actually used them over 5 years)., Fee was not too bad and the exchange rate pretty good. Had the go to their office to send and fiance had to go pick up at LBC.

 

Remitly (through the advice of people here) No fee doing my bank to her bank (BDO). Exchange rate a little lower than LBC but the 0 fee more than made up the difference. I send it from my cell phone (no driving) and she can pick up at any ATM.

 

I only use Remitly now and highly recommend it. Make your first transaction count as the first time you send they give you an introductory exchange rate which is higher than their normal rate.

Share this post


Link to post
Share on other sites
4 hours ago, JGP said:

whether or not there is a fee from BPI and what that fee may be. If anyone has any insight, I'd appreciate your reply. Thank you very much. 

As for your question. It is just a deposit and I would expect that there are no fees.

Share this post


Link to post
Share on other sites
19 hours ago, Hank_ said:

 

I tried WU years ago, there were fees and their exchange rate was one of the worst.  Never known WU to not charge a fee.  

 

This from the WU website just now, P500 = $10, OUCH!!! And their exchange rate still sucks.  :  From March 1 – December 31, 2017, enjoy a flat transfer fee1 of Php 500 on all direct to bank transactions.  

 

I tried XOOM for a time also, they charge a fee and the exchange rate was a little better.. 

 

Then I tried REMITLY, no fee and the exchange rate is even better  yet.

 

Remitly 49.81
Xoom 49.71
Western Union 48.93

Rates last updated: less than 1 hour ago

 

I keep looking for a better company, I looked at Wells Fargo they charges a fee and their exchange rate isn't that good, so I stay away from them too.

 

I am still using REMITLY, and will be until a better exchange company shows up.

 

  This link will take you to REMITLY

THANKS,Im currently using WF remittance account(Express Send)? I believe. Theyre transaction fees are only $5 per transfer.. Im going to look into the suggestion of Remitly!

Share this post


Link to post
Share on other sites
35 minutes ago, j N j said:

THANKS,Im currently using WF remittance account(Express Send)? I believe. Theyre transaction fees are only $5 per transfer.. Im going to look into the suggestion of Remitly!

I too like the convenience of WF and I have looked at all of them. For sending once a month it works fine for us. We don't send large amounts and if we increased the frequency of sending or the amount to which we send I would probably look around for comparison. I just like the ease that WF offers and it's in Lolo's account within minutes. I know Hank is rich and he guards his money so any little bit that gets away causes him old age agita. :P

Share this post


Link to post
Share on other sites
2 minutes ago, Greenbaum said:

I too like the convenience of WF and I have looked at all of them. For sending once a month it works fine for us. We don't send large amounts and if we increased the frequency of sending or the amount to which we send I would probably look around for comparison. I just like the ease that WF offers and it's in Lolo's account within minutes. I know Hank is rich and he guards his money so any little bit that gets away causes him old age agita. :P

I know I looked at Remitly before, and have a login there, CRS must have set in, but I dont remember what or why I went with WF.. Im not touching that last sentence. :)

Share this post


Link to post
Share on other sites
1 hour ago, Greenbaum said:

I too like the convenience of WF and I have looked at all of them. For sending once a month it works fine for us. We don't send large amounts and if we increased the frequency of sending or the amount to which we send I would probably look around for comparison. I just like the ease that WF offers and it's in Lolo's account within minutes. I know Hank is rich and he guards his money so any little bit that gets away causes him old age agita. :P

Rich guys... ya mean those that spend $5 for a cup of coffee?   That $5 is like getting a free cup of coffee ..  ;)

 

What exchange rate does WF give ya, along with sucking an extra $5 out of ya?   

 

Convenience?  You log onto your bank account, you log onto REMITLY .. same effort, the 1st raids the cookie jar while at it.  ;)  :lol:        And they even have a phone app that makes it more convenient.  

 

I put the money into my bank account at BDO directly from REMITLY .. instant isn't necessary, I can plan my budgeting more than 3 days out.  :thumbs:

 

Once we are home I don't do as many transfers, but I don't toss $5 on the sidewalk very often just the same.

 

 

 

 

 

 

Share this post


Link to post
Share on other sites
3 hours ago, Hank_ said:

Rich guys... ya mean those that spend $5 for a cup of coffee?   That $5 is like getting a free cup of coffee ..  ;)

 

What exchange rate does WF give ya, along with sucking an extra $5 out of ya?   

 

Convenience?  You log onto your bank account, you log onto REMITLY .. same effort, the 1st raids the cookie jar while at it.  ;)  :lol:        And they even have a phone app that makes it more convenient.  

 

I put the money into my bank account at BDO directly from REMITLY .. instant isn't necessary, I can plan my budgeting more than 3 days out.  :thumbs:

 

Once we are home I don't do as many transfers, but I don't toss $5 on the sidewalk very often just the same.

 

 

 

 

 

 

If I remember correctly, the exchange rate back in April was about $49  (guesstimate), no less than though. No transfer fees  for Remitly? 

Share this post


Link to post
Share on other sites

Unfortunately Remitly doesn't work for me as my Asawa and I live in Hong Kong and Remitly doesn't support withdrawal from a HK bank account.   We have had good results with WORLDREMIT which takes the funds from a Credit card.    

Share this post


Link to post
Share on other sites
8 hours ago, j N j said:

If I remember correctly, the exchange rate back in April was about $49  (guesstimate), no less than though. No transfer fees  for Remitly? 

Nope, no transfer fee on a normal transfer. 

 

I got P50,17  a week ago.

 

 

Share this post


Link to post
Share on other sites
 
Didn't find the answer you were looking for? Ask our VJ Immigration Lawyers.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
- Back to Top -


Important Disclaimer: Please read carefully the Visajourney.com Terms of Service. If you do not agree to the Terms of Service you should not access or view any page (including this page) on VisaJourney.com. Answers and comments provided on Visajourney.com Forums are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Visajourney.com does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. VisaJourney.com does not condone immigration fraud in any way, shape or manner. VisaJourney.com recommends that if any member or user knows directly of someone involved in fraudulent or illegal activity, that they report such activity directly to the Department of Homeland Security, Immigration and Customs Enforcement. You can contact ICE via email at Immigration.Reply@dhs.gov or you can telephone ICE at 1-866-347-2423. All reported threads/posts containing reference to immigration fraud or illegal activities will be removed from this board. If you feel that you have found inappropriate content, please let us know by contacting us here with a url link to that content. Thank you.
×