Taking Cash into the Philippines

Closed Thread
Page 3 of 3 FirstFirst 1 2 3
  1. #21

    Join Date
    Sep 2008
    Location
    ...Wanchai, HK.
    Posts
    471

    ...Western Union is one of the better ways (percentage fees and hassle-wise) of satisfying the OP's original request...


  2. #22

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    Again, it is extremely market-specific. Here, particularly for small amounts (up to HK$10-20K), and particularly to the home markets of their primary customers (the DHs), and even more particularly to recipients who don't have a bank account in the destination market, they are very competitive.

    Last edited by PDLM; 19-01-2010 at 04:38 PM.

  3. #23

    Join Date
    Sep 2008
    Location
    ...Wanchai, HK.
    Posts
    471
    Quote Originally Posted by PDLM:
    Again, it is extremely market-specific. Here, particularly for small amounts (up to HK$10-20K), and particularly to the home markets of their primary customers (the DHs), and even more particularly to recipients who don't have a bank account in the destination market, they are very competitive.

    ...yes, and particularly between HK and the Pines...

  4. #24

    Join Date
    Jun 2006
    Posts
    833

    Agree it is market/country specific. I send money back to the UK every month by Western Union and the fees are around HKD 450 per transmission which I have to cover.


  5. #25

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    That's strange - why not send by bank transfer where the fees would only be HK$100 or so?


  6. #26

    my 2 cents:
    1. just bring it in usd. you don't have to declare it thru customs since you are carrying less than the maximum allowed.
    2. change it in SANRY'S. they have a lot of branches in the malls. since i'm staying near makati, i go to the sanry's glorietta branch. their rates are closer to the internet rates (xe currency converter). banks are lower by 20 centavos more or less
    3. don't change it at the airport unless absolutely needed. they're really low. about 50 cents difference per unit
    4. again let me just remind you that this set up (bringing usd in) is a better option if you know your way around manila and you want to make the most of your money. if you prefer convenience then use the atm method. safer since you're not carrying cash in bulk. atms have different maximum daily withdrawals. BPI allows only PhP 20k, BDO and others PhP 50k. and the iternational fee for withdrawal is about PhP75 per transaction.

    this was last november 28, 2009 when i went there for a short vacation.


  7. #27

    Join Date
    Jun 2006
    Posts
    833
    Quote Originally Posted by PDLM:
    That's strange - why not send by bank transfer where the fees would only be HK$100 or so?
    Not my choice to send by W.U. The receiver expressly wishes to receive the money by that method.

  8. #28

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    Well then they should pay the fees not you, surely?

    And it does sound slightly dodgy to say the least...


  9. #29

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    29,763
    Quote Originally Posted by fth:
    Also look at the exchange rates they impose. I had to send a wire to my brother in Latin America once (admittedly from the UK). All-in after fees and an exchange rate spread you could drive a US army convoy through, they scalped me for about 7.5%-10%.
    Ah from the UK that is (or was) completely different. I sent some from the UK a few years ago and almost died at the charges but then sent some last year and they have come down considerably (about a 10th of what they were before I think).