Best currency transfer to RP?

[Juliet and Steve 93]

I wish that a currency transfer thread could be pinned.

Different services often have specials--there was a thread on this a while back but I cannot find it...

Any good deals going on with Xoom or another money service?

I've given up on Western Union though in past they were once good but lately their online services never works for me.

[X Factor 1,112]

You might get some tips on this thread

http://www.visajourney.com/forums/topic/422989-western-union-money-transfer/page-3

[Juliet and Steve 93]

Thanks X Factor but I wish people would include total costs. It seems that everyone focuses only on the transfer "fee," whilst ignoring the rate at which currency converts. That's often where the real costs factor in.

Doing a bit of research remitly seems the best with ~ $17/thousand US changed into peso. I suppose 1.7% is not bad.

Since about one billion US$ gets sent to RP the remittance companies gross a cool 17-25 million for their efforts.

[Juliet and Steve 93]

Oh well..remit.ly has the best rates that I can find but unfortunately it cannot do transfers from my state. Here is a list of states it can do, in case this helps others:

Alaska, Arizona, California, Florida, Georgia, Hawaii, Idaho, Illinois; Indiana, Iowa; Maryland, Montana, Nevada, New Jersey, New Mexico, North Carolina, South Carolina, Oregon, Texas, Washington and Wisconsin

[X Factor 1,112]

Western union is free right now ~ 3 day wait. Xoom is 7.99 and you don't have to worry about exchange rate fees in either of them. You can have them receive it in US dollars. .. that is what I do

[HunNee 15]

I've been using Xoom.com since 2008.. I just like the way it just deposits the money straight to their bank accounts.. $4.99 transfer fee if using checking account and delivered in peso.. that's the lowest fee they have.. it gets expensive by $2-4 I believe if using a credit card to transfer or if receiving dollars instead of pesos.. exchange rate? it's usually 1 dollar less to whatever is the current exchange rate, I think.. LoL

[Lingladyinred19 13]

Xoom get a code no fee for transfer money every month they have a code...

[DavenRoxy 1,073]

I think some are missing the point... the "fee" that is charged is nothing in the big scheme of things. The exchange rate difference is what matters. On a $1,000 transaction where the merchant gives you 1 php less exchange rate, you will lose about $23-24 on the transaction.

I've said it before, and I'll keep saying it. Use a bank that refunds ATM fees and send them an ATM card. USAA is my bank, and I love them, been with them for years.

Here's some others:

http://www.fatwallet.com/forums/finance/889383/m13221915/#m13221915%C2'>

[mztreiz 0]

dave, it helps to actually list others instead of providing a nice big blank space....

[Lingladyinred19 13]

I think some are missing the point... the "fee" that is charged is nothing in the big scheme of things. The exchange rate difference is what matters. On a $1,000 transaction where the merchant gives you 1 php less exchange rate, you will lose about $23-24 on the transaction.

I've said it before, and I'll keep saying it. Use a bank that refunds ATM fees and send them an ATM card. USAA is my bank, and I love them, been with them for years.

Here's some others:

USAA is for military right?

[Lingladyinred19 13]

Who is eligible? For USAA

Active, retired and honorably separated officers and enlisted personnel of the U.S. military.

Officer candidates in commissioning programs (Academy, ROTC, OCS/OTS).

Adult children whose eligible parents have or had a USAA auto or property insurance product.1

Widows and widowers of USAA members who have or had a USAA auto or property insurance policy.

[DavenRoxy 1,073]

dave, it helps to actually list others instead of providing a nice big blank space....

Picky, picky, picky... http://www.fatwallet.com/forums/finance/889383/m13221915/#m13221915

Not sure what happened to the link before. Sorry about that.

And USAA will take just about anyone nowadays, not just military.

[Lingladyinred19 13]

Picky, picky, picky... http://www.fatwallet.com/forums/finance/889383/m13221915/#m13221915

Not sure what happened to the link before. Sorry about that.

And USAA will take just about anyone nowadays, not just military.

That's what it says to the website..i try to reg. they ask if u are a military or one of the family..

[DavenRoxy 1,073]

So only two options? Military or family member? No "other" or "no" response allowed?

[DavenRoxy 1,073]

I read the very bottom of the page: https://www.usaa.com/inet/pages/why_choose_usaa_main?adid=icgsch61327182-VQ16-c looks like they aren't open to everyone once again. Sorry about that. But while a GREAT bank, they aren't FDIC insured, and there are others out there.