Highest remittance rate for converting 1 NOK to PHP = 5.48
Many people fail when it comes to finding the best way to send money from Norway to Philippines because of one thing; poor research. At Exchange Rate IQ, we handle the research part for you by providing a well-analyzed comparison of some of the best services to use when transferring money to the Philippines. We go further to provide you with tips on how to save much on your transfer.
Many people are stuck between options when it comes to sending money from Norway to Philippines because of the many available and confusing options. Thanks to Exchange Rate IQ however, you can quickly select a suitable money transfer service and learn how services like XE Money can make life easier for you.
The relationship between Norway and the Philippines goes a long way hence money transfer between these two countries is nothing new. Today, millions of money is transferred from Norway to the Philippines by migrants who need to support their families. Nevertheless, there there are so many other reasons for sending money to the Philippines.
As stated, there are so many ways of sending money from Norway to Philippines however, no one wants to use an expensive service. There are three main ways through which you can complete your transfer without spending too much. They include;
Cash pick up services: You most probably must have heard of Western Union or MoneyGram. These are the giants in the cash delivery industry and have been around even before technology as part of money transfer. One thing for sure, cash delivery services are not cheap and that is because their services usually are instant. It is, therefore, safe to say that they are one of the fastest ways to send money from Norway to Philippines. Although the receiver goes to pick the money at a designated pick up point, the sender has the option of initiating a transfer using apps like the Western Union App.
Bank transfer: you can always make direct deposits to a bank account in the Philippines and complete your NOK to PHP exchange. Banks have for a long time been trusted for international money transfer services. Thanks to mobile banking, completing a cross-border transfer does not mean going to the bank to join a long queue. You can easily complete a bank transfer from Norway to the Philippines by performing a short scroll on your phone. When using bank transfer to send money, you will want to take note of the provided exchange rates. That way, you can avoid spending more.
Online money transfer: sending money online is one of the newest and most efficient ways to send money anywhere. The main reason why online is the best way to send money from Norway to Philippines is that it is cheaper and offers more to the user. Nevertheless, some money apps even allow you to make transactions straight from your bank account or smart cards. With so many cash transfer apps today, it is important that you be careful when choosing. On our platform, we present you with a few of these services that have received thousands of five-star ratings. Some include; Remitly, Ria, XE Money, TransferWise, and CurrencyFare.
If you want to successfully send money from Norway to Philippines, there are a couple of factors that you need to confirm. They include;
Cost of service; Knowing how much a money transfer service is charging to send money from Norway to Philippines will go a long way to ensure that you complete your transfer without breaking your budget. At ERIQ, we include this information in our analysis so that you can easily compare the service cost of different services on one page.
Service duration: knowing how long service is also important when making your decision. That is because you will know which service is the best for emergencies and which one is favorable for non-instant transfers. One thing that you will discover with most services is that the fastest way to send money from Norway to Philippines is a little expensive.
Exchange rate offered: if you understand how the exchange market works, you can take advantage if that information to help you curb unnecessary costs. Some international money transfer services are slow to update their exchange rates and this can be a disadvantage if you are not updated. You find out the updated exchange rates as offered by various providers here at Exchange Rate IQ.
Service availability in the Philippines: Always work with a service that is available in both country if you don’t want to experience problems with your transfer. This is one of the main reasons why online cash transfer services are winning.