Sending money from India to the Philippines a few years back takes a lot of patience, both for the sender and the receiver.
Some banks in the Philippines can even have it processed in a week, while some can even take up to two weeks before the recipient can get hold of their money.
Nowadays, it is just as easy to send and receive money.
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Duration: Send Money from India to Philippines
There is money remittance that the recipients from the Philippines can get their money in real-time. They can withdraw their money to an ATM, they can have it picked-up in any branch of the money remittance center, or they can have the money delivered to them in 24 hours.
Banks can still process the remittance in a day up to three banking days.
It does not differ as much as sending to other countries. Fees can range anywhere between $3 to $8 and up. Again, there is a difference in remittance fee depending on how fast you want it to get to the recipient and how much money you are planning to send.
The Philippines have a vast list of independent money transfer companies. Some companies have been in the business for decades, while some are still new and just starting with money remittance.
Bank money transfers have changed throughout the years cause the processing is now quicker, and they make it simpler.
Transfer money from India to the Philippines with the bank
Some banks in the Philippines make money transfers more swiftly compared to newer banks. Those who have been in the banking business for a long time can process the money transfer in no time. Still, you need to check whether your bank can process the remittance fast.
They also sometimes charge a small fee for the recipient once they receive the money sent to them. So the recipient must know this as well.
Having an account in any bank here makes the money remittance simpler cause the sender can send the money in any bank here in the Philippines, so it is to the recipient’s advantage to have a bank account under his/her name.
The receiver can also easily access their account online, and they can check whether the money remittance is already credited to their bank account or not.
Transfer money to the Philippines with a money transfer provider
There are plenty of families in the Philippines who have a loved one in India and they are depending on the money remittance from their family abroad. This made way to the many remittance centers that keep on increasing left and right in the country.
This is a good thing if given some thought, cause this will make the processing of receiving money transfers easy, and there are many options now.
Some money transfer companies in the Philippines even have a service where they will personally deliver the money to the recipient, this will make it more convenient for the recipient and safer.
Other money transfer companies require the receiver to pick up the money from any branch, and the recipient must bring an identification card with their photos and signature on the ID. Of course, the most important thing is having the transaction number of the money transfer.
There is also another option where the money transfer company can have the money deposited to the account of the recipient in the Philippines, so there is no need for the receiver to pick up the money personally nor to have it delivered to their home.
Sending money in the Philippines is now made more affordable as well compared to the previous years where it is like spending a fortune to have the money reached the Philippines.
Fees are made affordable as well, so for those who are sending from India, they can now make use of this chance.
Technology made it possible for money remittance to be simpler cause with the technology, sending money is faster, and recipients are no longer made to wait for weeks to get hold of their money.