Sending money to Philippines
June 11, 2012 3:47am CST
Three years ago, I had sent money to a friend in Davao, Philippines through xoom.com; it took my money from my PayPal account and delivered this in Peso in the friend’s home for a nominal fee. But now xoom.com has stopped this as per Reserve Bank of India guidelines to stop money laundering; moreover my money in PayPal gets transferred to my bank account here in India automatically; I can’t transfer this to any other’s PayPal account too. So the only way I think left for me is to send a cheque to the friend, but this cheque will be in rupees, which the friend will submit in his bank account to get payment in Peso; I think the fees will be too much. The second option is via Western Union Money transfer; we have branches of this in post office, State bank of India; but problem is; through them one can receive money sent from abroad buy CAN’T send. A friend said Western Union does this as per RBI instruction to prevent money laundering. [b]Can anyone tell me how to send? Do you send or receive money from abroad; if so how? Please share and comment on this.[/b] Thanks in advance. Prof. Dr. Bhuwan Saraf. PhD 11th June 2012.
11 Jun 12
I never heard of such a thing before (could receive from Western Union but can't send!) what's the point of it then? Does it mean that people there don't have money to send?? Anyhow, have you tried sending it online? Friends have tried sending money through credit card through online Western Union. Perhaps it could work that way. Another is that I know that there are 'funds' transfer through banks, perhaps you could try that too. Have a great MyLot experience ahead!
11 Jun 12
can received money via western union, all you have to do is fill up then, send/call your friend and give him/her the number that western union gave you. sort of the referral number you is the only key that they can claim the amount you send.
13 Jun 12
Hi Professor2010, my husband usually received money from his brother from abroad through money wiring from bank to bank or sometimes he received his money via mail or door to door basis. Then in my case was different I usually received money via IEMS (International Express Mail Service) it quite risky but all of my package and money was delivered to me in time and safely. Hope you already found a way on how to send money here in the Philippines. :)
13 Jun 12
Probably if you can't find it where you are it won't do. But I see it is a member of the UK Money Transmitters Association, whose website lists a large number of organisations, of which http://www.philrem.net/pages/ looks rather promising - obviously, it's geared to sending from the UK, but you may be able to send money online from India (You can email them or something to find out). I'm assuming that membership of ukmta denotes a degree of reliability.
12 Jun 12
When we were younger, my grandmother was in the USA. She sent us money by putting them inside a greeting card To make it look less suspicious, she would add few pictures (developing pictures was still the only option those times) inside the card. That way, postmen would not detect and get the cash! Well, on a serious note, do you have LBC there in India? Sending money through LBC is also a good idea.
13 Jun 12
Girl What you have shared is a good idea, but risky too. I have not heard about LBC here A man from Philippines works in the steel plant with my son, they are close, so the money in rupees was given to him, his mom will give to the friend in Peso, problem solved.
21 Jun 12
hi professor, most transactions that are safe to do are the telegraphic transfer (bank to bank). another is xoom.com, or LBC courier and Lhuiller (i forgot the rest of the name of this last office). Or maybe you can send an extension credit card so that when you want to send money, your friend can just swipe the card in any of the banks in his country (could be mastercard or visa) like advancing money. then you pay it in your country later. but surely this is very risky unless you trust the person very well. is paypal still restricted to send money abroad? this one way policy is restricting your country to grow and have your money circulate. have a nice day. ann
11 Jun 12
I always receive money from my customers and husband. My husband use xoom.com and my customers are using western union and bank transfers. At xoom and western union, I received it in dollar not in peso, and I will the one to exchange it at the local money exchange.