Have you been to Lucky Plaza every end of the month to send money? Of course you do.
Kabayan, I have discovered a cheapest way to send money to the Philippines. All you'll ever need is your POSB Account or DBS Account, Internet connection for Sender and a Mastercard Debit Card for your Receiver in the Philippines. Cost only 1SGD per send of your remittance
If you knew this already.Good for you. If not , You can save 3 SGD not bad right? Its one good meal at Lucky Plaza.
Lets Start.
1. You need a POSB or DBS account or debit Card. All of us have an internet account connecting with DBS and POSB
Kabayan, I have discovered a cheapest way to send money to the Philippines. All you'll ever need is your POSB Account or DBS Account, Internet connection for Sender and a Mastercard Debit Card for your Receiver in the Philippines. Cost only 1SGD per send of your remittance
If you knew this already.Good for you. If not , You can save 3 SGD not bad right? Its one good meal at Lucky Plaza.
Lets Start.
1. You need a POSB or DBS account or debit Card. All of us have an internet account connecting with DBS and POSB
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| POSB CARD or DBS CARD |
2. Your Pin verification device.
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| Device. the new model looks like a small alculator |
3.We also need for your receiver a mastercard or maestro type of debit card..
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| Arrow. It shows and it works only if your receiver is using maestro or mastercard type of debit card. |
4. On the internet Google the POSB or DBs if you a are not sure what is the website address.
5. Log in using your verification device.
6.Select Fund Transfer and Select DBS MasterCard Money send
7. Once you clicked there will be a pop up window like this. Select Ok.
8. Register yourself. fill up the corresponding data. Make sure that the data you encode is the same data you fill up when you register your account with DBS or POSB. If the data is not the same the DBS will reject your application.
After you finished your data fill ups click proceed.
9. Register your Account as sender and the receiver details. Add as many as you want as long it has a Master Card or Maestro card.
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| Receivers details. |
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| Senders Details and funding amount
10. Now the set is finish you can send money now through DBS Moneysend. Select the funding account . Then select the receivers account. Type in the amount of money you want to send then GET ESTIMATE.
From here you can check the amount and the exchange rate plus the charge amount.
11. If it is acceptable to you click proceed.
I have been using money send 5 times now since i discovered it from my officemates. Its convenient and easy to use. I do not need to go anywhere to waste my time and effort. All I can do is open my phone and Voila! I can send money if it is emergency. I used this because its cheap and convenient to use. plus the fee is much lower than other remittance center.
I share this because for some of you who did not know yet at least you can have a choice where you want to do this.
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Very helpful and detailed. Thanks a lot..
ReplyDeleteService charge is low but exchange rate is relatively low compare to the remittance center in Lucky Plaza. In total you are paying more not less.
ReplyDeleteBasically u are not well verse in banking exchange rate. U are losing out waay more than u think. That's a stupid move.
ReplyDeleteYes, the is not as good as the remittance center. I also inquired about this last time. I will not recommend it.
ReplyDeleteYes, the *rate is not as good as the remittance center. I also inquired about this last time. I will not recommend it.
ReplyDeleteBut is it very different? Say I want to send S$200, what will that cost via remittance vs via ibanking? Cos if its not very different, I wouldn't mind spending a bit more if its saving me a lot of trouble. Thanks!
ReplyDeleteI found this post to be very educational. Thank you for broadening my knowledge of this subject. No doubt its a great piece of writing as well. Thanks
ReplyDeleteMoney Wire Services
How about FT to passbook account?
ReplyDeleteWell, if you factor in your bus/transport charges to lucky plaza and the time wasted, I think this method is cheap and good and the fastest!
ReplyDeleteGood one! :)
You should try Iremit, very dependable.
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ReplyDeleteHere's the link: https://transferwise.com/u/cfb70
BTW, for full disclosure, the link above will give me invite points which when you collect 3, they give you 50 pounds as a gift =)
Personally I've transferred over 10,000 Euros in total each time 300-500 and I never had any problems and the staff are very responsive when I email them.
I have been using transferwise to pay for my conference fee where they have a US account and I was paying in Euros for the fees (around US$500). There's no percentage commission but a small fee of 3-5 Euros per transfer . That saved me quite a lot when not using credit cards that charge me 3% + 5 Euro admin fee.
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ReplyDeleteThere are two types of fees: the declared fee and the hidden fee which is a margin that they put on the REAL exchange rate they give you. Because everything in Singapore is expensive you’ll want to know how much you will be charged for sending money. Please check below article for checking hidden fees. the tables below are comparison of services to use if you send money
ReplyDeletehi like to ask if i can send money to philippines using only my passbook? i am here only for vacation but i need to send money to PH for urgent reasons. thank you
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ReplyDeleteHi there. Moving forward in 2017. There's another way to send money online to the Philippines and that is through TransferWise. It can be used through web application or mobile app (iOS and Android).
ReplyDeleteMany people in this region have always sort for better and easier channels of transferring or sending money other than going to bank to queue or to get token from the bank for online money transfer transactions, without knowing that there is a platform that can even do much better without any stress in carrying out such transaction almost instantly.MoneySends
ReplyDeleteThis is so normal ways to deal with trade money to abroad and there is no convincing motivation to worry over sending money and after a short time days there are such enormous quantities of associations are opened for this yet acquiring any association is better however pick them keenly and unmistakably.
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