Highest remittance rate for converting 1 SEK to PHP = 4.87
Finding the best service to help you transfer money from Sweden to the Philippines can become a headache if you don’t know how to tackle it. At Exchange Rate IQ, we help people like you to find the most suitable option to help them send money from Sweden to Philippines. From the fastest and even cheapest option, you will get a better insight into what the ideal money transfer service is for you.
Many people are stuck between options when it comes to sending money from Sweden 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.
Sweden and the Philippines established diplomatic relations back in 1947. Ever since both countries have been playing host for each other’s migrants. According to the Swedish remittance reports, millions of money is remitted to the Philippines from Sweden. This is just proof that there are a high number of Philippine migrants in Sweden. Nevertheless, a good number of Swedish companies outsource services from the Philippines online.
If you want to send money in the 21st century, there are three main options that will prove to be convenient and they include;
Cash apps: This is the most recent money transfer option that will work for anyone with a smartphone. One of the main advantages of sending money from Sweden to Philppines is the cheap service. Using services like XE Money, for example, you should be able to complete your transfer without incurring any cost. Mark you, there are so many cash transfer apps that you will come across and without the right guidance, you can easily end up selecting the wrong service provider. According to users, some of the top choices for sending money from Sweden to the Philippines online include; Remitly, CurrencyFair, TransferGo, TransferWise, Ria, and XE Money.
Bank Transfer: You can easily deposit money in a Philippine bank account from Sweden. While this is a service that you will readily find with any bank, most of such transactions tend to take much longer. One of the main reasons why banks are still one of the best ways to send money from Sweden to Philippines is security. Bank transfers are easy to track and since it includes two banks, you will find tracking your money to be much easier. The best way to use bank transfers is for transferring large amounts of money for official transactions like the purchase of equipment and property or even paying school fees. Some banks allow high discounts for larger transfers.
Cash transfer/delivery: Before technology, the only way to receive money closer to you is through cash delivery services that were conducted by post offices and later on Western Union, MoneyGram. It is safe to say that cash delivery services are one of the fastest ways to send money from Sweden to Philippines. With technology playing a major role in the financial industry, services like the Western Union app is making it even easier for you to initiate a transfer. That is because you don’t have to visit their designated service centers to send cash as you can do it through your phone or computer.
One big mistake that many people make is failing to critically look into who is handling their money transfer. That means many people send money blindly without doing some research about the international money transfer service provider. To be on the safe side you must;
Consider the cost: If you have to send money and you can only afford to separate with a specific amount of money, you will find it a great deal to compare the cost of services. Keep in mind that many money transfer services tend to have different service costs but the quality of service can still be the same. When considering cost, check on things like the provided market exchange rate and make sure that it is the updated version to avoid inconveniences. You will also want to look out for any hidden charges.
Speed of service: Knowing how long your transaction will take is not only important for you as the sender but the receiver as well. Additionally, it makes it easy for you to track the process of your transfer. Keep in mind that it can take anything between a couple of minutes to five days for your money to be transferred from Sweden to the Philippines.
Convenience: You have o ensure that sending your money is easy and the recipient also gets to collect the cash without any complications. Some people make the mistake of sending money without checking if the service they used is available in the country where the cash is being expected. The consequences of this can mean losing more money during the transfer especially if the service provider does not refund the service cost fee.