CHEAP WAY TO SEND $$$ MONTHLY BACK HOME

[Matt and Evieve 1]

there is a 50% off coupon: PHFIFTY

What? The transaction was just made few hours ago Where to input this code?

[roseTX 0]

You have not busted any bubbles here, you are just mis-informed regarding several things with WF. First, the fee is $2.50 only if you have a premium checking account, otherwise it is $5 per transaction. 2nd, the link you are providing is not accurate information. The link you are providing is if you want to order paper currency, and that is the rate they are providing for that only! It has nothing to do with ExpressSend. I have xferred US dollars several times over the last 3 days, all exchange rates were in the 42 peso range/dollar. I just checked again, and WF gave me a 42.45 rate at 12:15am, 10/16...US central time. WF is much cheaper than Western Union and the rate is more competitive. The US dollar is not strong currently hence the dropping rate over the last year. I was xferring 47-48 pesos/dollar through WF 9 months ago.

Bottom line, unless you actually have recent experience using WF's ExpressSend, don't put out inaccurate/misleading information. Here is the actual link to WF's ExpressSend service:

Wells Fargo Express Send

There are bubbles bursting, I hear them from a distance.

Sometimes the truth is not what we want to hear.

Here it is. See for yourself.Sorry to burst your bubble,

Dollar for Peso Converted Amount 38.17 piso (PHP) = 1.00 dollar (USD)

https://www.foreigne...erviceType=rate

[SuperDuper! 230]

You have not busted any bubbles here, you are just mis-informed regarding several things with WF. First, the fee is $2.50 only if you have a premium checking account, otherwise it is $5 per transaction. 2nd, the link you are providing is not accurate information. The link you are providing is if you want to order paper currency, and that is the rate they are providing for that only! It has nothing to do with ExpressSend. I have xferred US dollars several times over the last 3 days, all exchange rates were in the 42 peso range/dollar. I just checked again, and WF gave me a 42.45 rate at 12:15am, 10/16...US central time. WF is much cheaper than Western Union and the rate is more competitive. The US dollar is not strong currently hence the dropping rate over the last year. I was xferring 47-48 pesos/dollar through WF 9 months ago.

Bottom line, unless you actually have recent experience using WF's ExpressSend, don't put out inaccurate/misleading information. Here is the actual link to WF's ExpressSend service:

Wells Fargo Express Send

There are bubbles bursting, I hear them from a distance.

[Jimmyzr1 36]

here's what I got yesterday through Xoom. And I thought that was bad. I did use the coupon as you can see.

Xoom Tracking Number: X061832504550999

Transaction Date: October 14, 2010 10:44:23 PM PDT

Amount Received: 3,500.09 PHP

Exchange Rate: 42.338

Amount Sent: 82.67 USD

Service Fee: 3.99

Total Cost: 86.66

[TravellingNomad 12]

the exchange rate for WF today actually went up a bit to $42.50 from two days ago of $42.45 (woohoo!!...LOL). and also, the recipient don't actually need to have an account in BPI to receive the money. i just had the wife open up an account because it's just easier and more safer. i don't send a really big amount each month...but it is big enough to get attention when it is counted on the counter in front of everybody who can see. with the money being deposited to her BPI account, she can just then go ahead and take out the amount that she needs.

i didn't know that it was different the fee is different if you don't have a premium account. but to get the advantage checking, a person only needs to do a monthly automatic transfer each month of $75. which is no problem because after that amount is automatically transferred, i go in and transfer it back..LOL. also, the question about the account being in your own name...it doesn't matter if the account it is going to is in your name as long as you give them the correct account information. and you don't have to worry about any promo code.

Edited October 18, 2010 by TravellingNomad

[calibob 73]

Thanks all!!!!! Just called WF and they said with Direct Deposit the fees will be $3.50 each......at the current daily exchange rate at time of transfer.....going to open my account tomorrow as this works for me...better my wife to have the extra than the bank.....

Bob

[tallcoolone 102]

WF is a good way to send money to PI.

You can send it to an Bank Account or send it to the bank in PI and let the person pick up the money without having an account in Philippines

[J.W. 4]

Thanks for this...I'm gonna look into this.

[rlogan 2,036]

Nice to know that, thanks. My wife is spending $7.50 with BPI remittance.

Not sure what premium checking costs but we'll look into it. There is a Wells-Fargo in Fairbanks.

[Tahoma 2,291]

Note: the Wells Fargo ExpressSend Global Remittance service is free if you maintain a minimum of $25,000 with Wells Fargo.

Here is more information about the Wells Fargo ExpressSend Global Remittance service:

Link 1.

Link 2.

[TravellingNomad 12]

wish i had a maintaning balance of 25K in my account. but since i don't, i have one of their premium checking/savings account with the monthly $75 automatic transfer between savings to checking (or is it vice versa?..lol) to avoid monthly fees. and with that, i get the remittance at $2.50 per transaction.

[calibob 73]

My bad on the fees......it's $2.50 as you stated. They also partner with BDO, my wife's bank:D. Thanks VERY, VERY much as we have a church wedding in December coming up......I owe you one!!

Bob

[Armenia 18]

It's good to consider more than one remittance service options and compare exchange rates just before sending a remittance.

Today, Xoom is a better option than Wells Fargo.

Sending by WF:

Send amount = $2,000

Exchange rate = 38.39

Receiving amount = PHP 76,780

Service fee = $2.50

Sending by Xoom:

Send amount = $2,000

Exchange rate = 42.178765 (~42.1788)

Receiving amount = PHP 84,357.53

Service fee = $7.99

Difference in Service fees b/w WF and Xoom = $5.49 ( x 42.178765 = PHP 231.56)

Final Xoom receiving amount when excess $5.49 fee is factored in = PHP 84,357.53 - 231.56 = PHP 84,125.97

Difference in Final Receiving amount: PHP 84,125.97 - 76,780 = PHP 7,345.97 (or $174.16)

The less you're sending, the less it matters which one you use since the difference will be smaller:

If the sending amount is $100, the "Difference in Final receiving amount" is only PHP 147.32 ($3.49).

You could make a spreadsheet so that the only values you ever need to enter are the exchange rate and the sending amount. Your spreadsheet will then calculate everything for you so you can easily see at a glance which remittance service is best for that day.

[calibob 73]

Armenia, you may need to do some more research on the matter of WF. They have multiple exchange rates depending on how you are sending the funds and how they're received. The number to call is 800-556-0605 and follow the prompts to exchange rates. Today's rate, account to account, is 42.34 php to USD. I too was confused till I looked further into all of it and opened an account (after multiple questions for the account specialist). There are some hoops to jump thru but consistently WF's exchange rate is higher and fees smaller. I'm not on WF payroll, just thankful they offer this reasonable service. Pretty quick too if sent before 3pm!

Bob

[Armenia 18]

Armenia, you may need to do some more research on the matter of WF. They have multiple exchange rates depending on how you are sending the funds and how they're received. The number to call is 800-556-0605 and follow the prompts to exchange rates. Today's rate, account to account, is 42.34 php to USD. I too was confused till I looked further into all of it and opened an account (after multiple questions for the account specialist). There are some hoops to jump thru but consistently WF's exchange rate is higher and fees smaller. I'm not on WF payroll, just thankful they offer this reasonable service. Pretty quick too if sent before 3pm!

Bob

Wow, I didn't realize that WF has a different exchange rate for account-to-account transfers. Thank you.

Can you only get to know that "special" exchange rate by calling (I hate calling any company's CSR and having to wade through all the "Press blah blah blah") or is the "special" exchange rate viewable when you're logged in to your WF online banking account?