Need to send money abroad? Know which remittance centers to visit in Cebu!
Source: Judgefloro, CC0, via Wikimedia Commons
Remittance centers offer a convenient way to send money abroad. There are many reliable establishments around the country, both physical and digital.
Unfortunately, some foreigners are not familiar with sending money abroad through remittance centers, while some live in provincial areas where physical remittance centers are scarce.
They could use digital remittance platforms instead, but even that can be a challenging process.
Sending money abroad through pera padala stations is something many foreigners in the Philippines definitely struggle with.
However, many Filipinos patronize remittance centers because they are both accessible and reliable. The money is sent instantly, with recipients getting the cash in minutes. (2020)
One must know about the process of using remittance centers to send money abroad.
That being said, here is a list of remittance companies in the Philippines that have gained the confidence and trust of Filipinos over the years.
PHYSICAL REMITTANCE CENTERS
This step-by-step guide details a general process for most remittance centers. Some may require different processes or documents, so you may need to do further research on it.
1. Identify which remittance center is the nearest.
Simply look it up and figure out their process of sending money abroad.
Popular remittance centers include:
- Cebuana Lhuillier
- LBC Express
- M Lhuillier
- Palawan Pawnshop
- RD Pawnshop
2. Fill out the Sender’s Form.
The cashier will give you a form to fill out. This is where you will provide all the information about the transaction. The Sender’s Form will ask for the following details:
- Birthdate
- Nationality
- Nature of work
- Complete Philippines address
- Employer (if any)
- Source of income
- Relationship to receiver
- Purpose
Make sure to bring a valid ID to verify your identity as the sender. Also check if it hasn’t expired to avoid any issues with your transactions.
3. Provide the total amount to be paid.
After filling out the form, you will then pay the amount of money you’ll be sending. The total cost (according to LBC) is computed through the daily exchange rate of the country you are sending to, multiplied by the amount to send in Philippine Pesos.
You can make the computation ahead of time, but always bring enough cash in case of extra fees.
4. Keep the receipt with the control number.
You will have to wait for a few minutes for them to verify the transaction. Once everything is confirmed, you will be given a receipt showing all the details, especially the control number.
Make sure to keep this with you in case you need to track the status of your transaction. The control number is also important since this will be used by the receiver to encash the money.
SImply go to the remittance center’s website to check on your transaction.
RECEIVING THE MONEY
1. Secure the control number.
After receiving the control number from the sender, write it down or take note of it as you will need this to validate the transaction. The cashier will use this number to track and verify that the money transfer is legit.
Ask the sender for a picture of the receipt with the control number in clear view to make sure all the digits are correct.
2. Go to any remittance center in your area.
Philippine remittance centers have partners all around the world. Take note of the remittance center in which the transaction was made by the sender.
Notable international partners of Philippine remittance centers include:
- Remitly
- Xoom
- Intermex (International Money Express)
- Uniteller
- Ria Money Transfer
3. Fill out the Receiver’s Form.
Just like sending money, the receiver must also fill out the form to verify the transaction. Make sure each digit of the control number is correct to avoid any complications.
The recipient should also bring their ID to verify that they are the person intended to receive the money.
4. Count your money.
Once everything is confirmed, the remittance partner will provide you with the money. Make sure to count the money before leaving.
DIGITAL REMITTANCE CENTERS
Some foreigners believe that digital banking is the most effective way for sending money abroad. This allows for a smoother and more convenient process with the use of a mobile phone or computer.
Subsequently, many remittance centers in the Philippines have mobile apps, allowing for an easier method of sending money. This will be especially important in case of emergencies, since some establishments are not open 24/7.
- Paypal
Paypal is one of the most popular digital money platforms in the world, and it is available in the Philippines. Many use Paypal to earn money from sources abroad, but they also use it to send money to their families.
You will need to add some money to your account first, which can be done at convenience stores and physical remittance centers.
With this, you will be able to send money directly to the receiver’s account without having to go through all the paperwork and queues.
- GCash and Maya
If you’ve been in the country long enough, chances are you may already have an account with either of the two biggest e-wallets in the Philippines. GCash and Maya are not just for purchasing transactions, as they now have features for remittances.
Both platforms allow you to send money abroad, with GCash Padala and Maya Center connected to remittance partners outside the Philippines.
Thanks to remittance centers, sending money abroad is not only possible, but also convenient. As a foreigner visiting the Philippines, this is something that will definitely come in handy.
REFERENCES:
- “5 Reasons Many Filipinos Patronize Remittance Centers.” Maya.ph
https://www.maya.ph/stories/5-reasons-many-filipinos-continue-to-patronize-remittance-centers
