In this article, you'll discover whether Remitly works in the Philippines, explore some potential drawbacks if it is available, and consider the various possibilities for using the service.
Does Remitly Work In Philippines?
Remitly works in the Philippines, offering a variety of delivery options for sending money. Users can choose from cash pickup, bank deposit, mobile money, and even home delivery. This flexibility ensures that recipients can access their funds in the most convenient way possible.
Several trusted providers in the Philippines support Remitly's services, including Maya, BDO Unibank, LBC, Security Bank, Philippine National Bank, RCBC, GCASH, USSC, and Bank of the Philippine Islands. These partnerships enhance the reliability and reach of Remitly's money transfer services in the country.
Fees and Charges for Using Remitly in Philippines
Here are some general costs that users might encounter when using Remitly in the Philippines:
- Transaction Fees: These are charges applied for each money transfer. The amount can vary based on the transfer amount and the delivery method chosen.
- Currency Conversion Fees: When sending money internationally, a fee may be applied for converting the currency from USD to PHP. This fee is often included in the exchange rate provided by Remitly.
- Withdrawal Fees: Depending on the delivery method, there might be fees for withdrawing the money. For example, cash pickup locations or bank deposits might have associated costs.
Is Remitly the Best Option in Philippines?
Even though Remitly is available in the Philippines, it might not be the best option for all users due to certain limitations and restrictions.
- High Transaction Fees: Fees can be significant, especially for smaller transfer amounts.
- Exchange Rate Markup: The exchange rate may include a hidden markup, reducing the amount received.
- Withdrawal Costs: Additional fees may apply for cash pickups or bank deposits.
- Transfer Limits: There are limits on the amount of money that can be sent per transaction.
- Service Availability: Not all delivery methods are available in every location within the Philippines.
Alternatives to Remitly in Philippines
1) OneSafe
OneSafe stands out as a leading alternative payment solution in the Philippines. It offers ease of use, lower fees, and exceptional customer support. Key features include simple onboarding, global payments, multi-currency support, and robust security measures, making it a superior option for users.
OneSafe Reviews
Users have praised OneSafe for its comprehensive banking features, including ACH, Crypto, Wire deposits, and Virtual cards, making it the best bank they have used so far. The company is also appreciated for its support for most businesses, reflecting a strong positive sentiment among satisfied customers.
2) Wise
Wise offers a reliable alternative payment solution in the Philippines, featuring low fees, fast transfers, and transparent exchange rates. Users benefit from a multi-currency account, the Wise card for global spending, and robust security measures. These features make Wise a practical choice for international money management.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 87 reviews. Users have reported issues with money transfers being returned without notification and challenges with document approval. Check out more Wise reviews here.
3) Paypal
PayPal offers a versatile payment solution in the Philippines, featuring key benefits such as easy money transfers, secure transactions, and global reach. Users can enjoy features like PayPal Debit Card, Buy Now, Pay Later, and PayPal Credit, making it a convenient and secure option for managing finances and making payments.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5 based on user reviews. Users have reported high transaction fees, issues with customer support, and occasional account blocking. Check out more PayPal reviews here.
Frequently Asked Questions about Remitly in Philippines
How long does it take for Remitly transfers to reach the Philippines?
Transfers can take from minutes to a few hours, depending on the delivery method.
What are the available delivery methods for Remitly in the Philippines?
Delivery methods include cash pickup, bank deposit, mobile money, and home delivery.
Are there any limits on the amount I can send with Remitly?
Yes, there are limits on the amount you can send per transaction, which vary by method.
Can I track my Remitly transfer to the Philippines?
Yes, you can track your transfer in real-time through the Remitly app or website.
What fees are associated with using Remitly in the Philippines?
Fees include transaction fees, currency conversion fees, and potential withdrawal fees, depending on the method.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in the Philippines is crucial for efficient and cost-effective money transfers. While Remitly offers various services, alternatives like OneSafe provide lower fees, better customer support, and robust security. Explore OneSafe for a superior banking experience. Sign up to OneSafe today!
