This is Part 2 of the blog post Send Money Online to the Philippines from Canada on which you’ll find out the other online international money remittance services.
7. First Globay Money
The First Global Money allows customer to send money online in the Philippines through the web application or 33 agent locations in different provinces in Canada.
How to Pay: INTERAC Online from RBC, TD, Scotiabank, or BMO debit card
Service: Bank deposit, cash pickup, mobile wallet, and home delivery
Sending Limit and Fee: Pay C$8.00 transaction fee by remitting any amount between C$25.00 to C$999.00
First Global Data Corp.,
Address: 555 Richmond Street West, Suite 918 Toronto, ON M5V 3B1,
Tel No: +1(877) 793-7171
Fax: (416) 504-7092
8. Canadian Forex
Canadian Forex is the odd one in the list. It was established in 1998 and become one of the world’s largest online foreign exchange companies.
Although Canadian Forex is not categorized as money remittance company, you can still send money overseas as if you are trading forex. CanadianForex can only send money from Canada to the Philippines and not the opposite.
Fee and Sending Limit: You have to pay C$15.00 to transfer C$200.00, the minimum sending amount. The transfer fee is FREE if you send more than C$10,000.00 in the Philippines.
It’s the highest fee and transaction amount so far in the list. Canadian Forex is best for those who wants to send huge sum of money to take advantage of high competitive exchange rate.
Processing Time: Expect your funds to arrive in 3-5 days.
Service: CanadianForex can transfer funds to any bank in the Philippines in different ways.
- Basic money transfer (immediate money transfer/wire overseas)
- Limit order
- Recurring transfers
- Forward contracts
The basic money transfer is for OFWs while the rest is geared towards who use forex for huge transaction in business. Or simply, they know what they are doing. Period.
By the way forex is another way of trading/investing. It is risky and requires knowledge and self-discipline because it is more volatile than stock trading.
Address: Suite 1002 145 King Street West Toronto ON M5H 1J8
Personal: 1(800) 680-0750 (free call)
Fax: 1(416) 649-8580
9. Western Union
By far Western Union is probably the most innovative money transfer service in this list. Customers can send remittance online, go to one of the agents, or send large amount (more than C$999.00) like Canadian Forex.
How to Pay: Credit or debit card
How to Send: Web and mobile application (iOS and Android)
Fee and Processing Time: The fee varies depending on how the recipient will receive the remittance.
- Bank transfer – C$10.00 (available in 1 or 2 days)
- Cash – C$12.00 (available within minutes)
Service: Bank deposit, cash pickup, and mobile wallet
Western Union Financial Services, Inc
Address: 330 Bay Street, Suite 300,Toronto, ON, M5H 2S8
Tel No: 1-800-235-0000 (customer Service for Canada customers only)
Xendpay is similar to the majority of online money transfer services; you can remit through web and mobile application (iOS and Android).
How to Pay: Bank transfer, debit or credit card, and Sofort
Debit Card Fee
- FREE for debit cards in all European countries
- 2.6% of your payment amount for debit card in all other countries
Credit Card Fee
- 1.7% of your payment amount for credit card in all European countries
- 2.6% of your payment amount for credit card in all other countries
Processing Time: 2-3 working days
If you need help, particularly about required bank details, read more of Xendpay information.
11. Reliable Peso Remit
Reliable Peso Remit Inc. and Reliable Express Cargo Corporation are what make up the Reliable Group. Reliable Peso Remit is a money remittance service that offers competitive rate.
Spending Limit: A customer can remit online a maximum amount of C$900.00 per day with a limit of $8000.00 a month. If you are sending C$1000.00 and above you have to remit to one of the offices or agents.
Service, Fee, and Processing Time:
- Door-to-door (Manila) – pay C$8.00 and the money will arrive in 24 hours
- Door-to-door (province) – pay C$8.00 and the money will arrive in 48-72 hours
- Bank-to-bank – pay C$8.00 and the money will arrive in24 hours
- Pick Up – pay C$10.00, ready in minutes for pick-up 9am-onwards Philippine time)
- Cash card – pay C$8.00 and the money will arrive in 24 hours
- Bills payment – pay C$8.00 and the bill is paid in 24 hours
- Food delivery (Jolibee and Max’s Restaurant) – pay C$8.00 and the food will arrive in 48-72 hours
Address: 4132 Bathurst St., North York Ontario M3H 3P2
Tel No: (416) 631-7773
Mobile No: (416)631-7373 / (416) 836-6008 / (416) 658-5568
Toll Free: 1(888) 658-4361
Contact Person: Pauline Blancaflor / Jo Balancio
Remitly is my new go-to online money transfer service. From TransferWise, I switched to Remitly. You can pay either $2.99 or $6.99 for the fee. Check my review about Remitly for a comprehensive feedback; who knows you might also like its service.
Because of the act of helping loved ones even from far away, a lot of money transfer companies have flourished creating more jobs and convenience.
In the coming years, I bet more start-up will recognize the initiative of Filipino communities to give financial support not just in Canada.
I know there are so much to choose from all of these companies, and again, call my attention if I miss something, but don’t be overwhelmed. Choose and take a chance.
Don’t be afraid to try new things and share your experience whether pleasant or not. Kababayan, salamat sa pagiging magandang halimbawa.
Resource: Remittance Prices Worldwide
Photo Credit: firstglobalmoney.com