The USA to the Philippines is one of the most competitive transfer corridors where many people look for the cheapest services, so here we have bought you some of the best money remittance companies. These companies provide multiple offers to reduce the transfer fee and deliver funds at best exchange rates. But the major question arises that after seeing competitive exchange rates, which company you should pick to transfer funds from the USA to the Philippines.
A large number of banks, MTOs and startups are also offering these services to customers with multiple offers and benefits. Due to this competition, consumers now have a large number of choices and negotiating power. But again the question arises is which is the “best money transfer company” according to your needs and requirement of the recipient. So, here are few base points which you should consider before transferring the US Dollar to Philippine Piso:
- Speed: How soon you want your money to reach the recipient? If you want to transfer money faster, you can use cash pickup services of WorldRemit which provides the instant transfer. While, if you have no emergency, then you can use services of InstaReM, Placid, TransferWise and Transfast money transfer, which will deliver funds in 2-3 working days.
- Exchange Rate: The companies offer different exchange rates depending on the fees they are charging and their margin of profit. For example, InstaReM offers live mid-market exchange rates but keep it locked until it reach the recipient. Besides this, WorldRemit changes it depending on the pay-out option you choose.
- Fees and Other Taxes: There are taxes levied on every transfer depending upon the policies of both the countries which will be deducted from the amount paid. The fee is charged by companies on different types of transfers. Before transferring, first watch out that you will not end up paying more than you should.
- Transfer Convenience: If one can transfer in an easy way without any support of customer assistance, then the company is considered as highly convenient. You can make transfers online without physically visiting its office. In the era of digitalization, mobile apps are also necessary which can ease the transfers anytime anywhere. WorldRemit, Transfast, XE Money Transfer, TransferWise, and OFX Money Transfer are also providing their mobile app.