How Businesses Can Send Money to the Philippines
Sometimes business owners have multiple locations, and sometimes they own businesses in different countries. An owner might have a location in the United States, but run a production warehouse or second location in another country like the Philippines because it is cheap to run.
And having multiple business bank accounts can be difficult to maintain. Transferring money can be costly because of exchange rates between the countries. Unnecessary banking fees can add up.
Cheap Way to Send Money
There are various ways that you can send money from the United States to the Philippines through money transferring services. However, a lot of the services can be very different.
Your choice can depend on your personal preference between the cost, speed, and the quality of customer service the company provides. The amount of your payments can also be a factor.
There is a lot of information and questions online about sending money digitally. The last time I needed to, I used a company called Sharemoney to send money to the Philippines.
When weighing your options, you could also use a comparison tool like Moneytis: https://moneytis.com
A Few Tips to Keep in Mind
- Link a bank account instead of paying with a credit card.
- The bigger the amount that you are sending, the lower the overall cost will be.
- The cost markup can be based on a lot of different factors.
- Competition between providers is high, so you might be able to work out a great deal.
Simple Way for Sending Money
There are over 3.3 millions Filipino Americans in the United States. So a lot of Filipino Americans might have businesses opened in the Philippines.
Transferring funds to those overseas accounts can be done easily and cheaply if you do your research and choose the best company that fits your needs. Get the most bang for your buck.
Please leave a comment below with your experiences of sending money from the United States to other countries like the Philippines.