ABS-CBNNews.com Report: Remittances hit monthly record high in Oct

Taken from ABS-CBN Online News: MANILA, Philippines - Money sent home by Filipinos abroad grew 6.7% to $1.5 billion in October, the highest monthly remittance level recorded so far, the Bangko Sentral ng Pilipinas (BSP) said Tuesday. The October figure was equivalent to a 3.7% growth from the previous month's remittance level of $1.446 billion. It also brought the country's total remittance inflows to $14.3 billion for the first 10 months of the year, a 4.5% increase year-on-year. The surge in October remittance to the Philippines...

Deposit Foreign Bank Cheque to Philippine Banks

The Philippines, with its friendly people and nice tropical weather, has become one of the leading destination for retiring foreign nationals and Filipino returnees (Balikbayan). There are thriving expat communities in the suburban areas of Subic, Tagaytay, Davao, and Cebu even in the busy cities of Metro Manila. Most maintain foreign bank accounts or fund source that goes through foreign banks. Otherwise, you would have to go through popular way of sending money using money transfer services from reputable agents. If you belong...

No Bank or Credit Accounts? Use MoneyGram International.

It maybe hard to believe that an adult in this day and age does not have a bank or credit card account to his/her name, but it is possible and is perfectly understandable. A lot of people, and clever ones I think, are investing/re-investing their money instead of putting them in savings accounts. Investments provide far greater return than interests earned from regular bank savings accounts. On the other hand, credit cards, when used uncontrollably, will give more harm than good and convenience to its user. So if you are this...

Xoom.com Online Money Transfer to the Philippines

Another popular way of sending money to the Philippines online is through Xoom. You may send money online by signing up and charge your remittance to your U.S. Bank account, Paypal account or credit cards. Joining Xoom is free and safe. Recipient in the Philippines may pickup cash from Xoom's local partners; or receive through Philippine bank Peso or Dollar accounts; or receive money right at their doorsteps. Picking up Cash Xoom has one of the largest receiving network through its local partners that include 24x7 businesses,...

Sending Money Through Smart Money Padala International Remittance Service

Smart Money through its domestic agents, that may include local retail stores, barber shops, convenient stores, pharmacies and small businesses and the convenience of access to cellphone transactions provide opportunity to reach most Pinoys for remittance transactions. SMART Padala, is the world’s first international cash remittance service linked to a mobile phone. Now, sending cash from abroad to the Philippines has never been more convenient and affordable – and all at the speed of text. SMART Padala is available in select...

Withdrawing Money from Paypal in the Philippines

How do you withdraw funds from my PayPal account? In the Philippines, you only have two options: one is to transfer your Paypal funds to your local bank account; another is by requesting for Paypal to issue check in your name. Transfer Money to Your Bank Account First, you need to add your bank account in your Paypal account before you can transfer money. If you haven't done it so, here's a simple guide for you. 1. Login to your PayPal account and go to Profile > Add or Edit Bank Account. 2. Add your bank details. The...

Paypal Philippines Bank Codes

Below is a list of updated Paypal Philippine Bank Codes Philippine Bank Name with Paypal Bank Code ALLIED BANKING CORP 010320013 AUSTRALIA NEW ZEALAND 010700015 ASIA UNITED BANK 011020011 BANGKO SENTRAL NG PILIPINAS 010030015 BANGKOK BANK 010670019 BANK OF AMERICA 010120019 BANK OF CHINA 011140014 BANK OF TOKYO 010460012 BANCO DE ORO (& EQUITABLE PCI BANK) 010530667 BANK OF COMMERCE 010440016 BANK OF THE PHIL ISLANDS (BPI) 010040018 CHINA BANKING CORP 010100013 CHINA TRUST COMML BANK 010690015 CITIBANK N.A. 010070017 DEVT...

Sending Money Through Paypal Account

To send money through Paypal, the sender and the receiver must have separate Paypal accounts. As a sender, you must have the email address of the party to whom you wish to send money via PayPal to. Make sure you have the necessary funds to cover the amount you are going to send to another Paypal account. What is Paypal?  PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. PayPal serves as an electronic alternative to traditional paper methods such as checks and money...

Western Union Money Transfer to the Philippines

With the growing number of Western Union agents around the Philippines, there's no question, going through Western Union service is one of the most convenient way for a lot of Filipinos to receive money. More and more Internet Cafes, Pharmacies, Forex traders, Groceries, Post Offices, Banks and Pawnshops are becoming agents of Western Union. To receive money, one only needs to present valid identification and the MTCN (Money Transfer Control Number)...

Philippine Banks Swift Code: Sending Money to Philippine Banks

SWIFT or Bank Identifier Codes (BICs) are codes used when transferring money between banks, particularly international wire transfers. It is in the standard format ISO 9362, as approved by the International Organization for Standardization (ISO) handled by the The Society for Worldwide Interbank Financial Telecommunication (SWIFT). In sending money to the Philippines through local banks, you need the following information: (1) Recipient's Bank Account Number (2) Name of Philippine Bank (3) SWIFT Code or Bank Identifier Code. List...