By Blair Pedersen, OrbitRemit
Get money to the Philippines faster with these handy hints
There are times when speed is not a priority, like when you’re taking a Sunday stroll or eating an ice-cream, but unfortunately, these activities aren’t related to international money transfer.
Sometimes you just want to get your money to the Philippines as fast as possible. When you are trying to get money to the Philippines, speed is the key. Here are some hints that we know will make your remittances a little bit faster.
Registration: have all of your documents with you
It’s important to have your documents ready to go when you are signing up. It will speed up the registration process dramatically so that you can get to transferring. You will need:
- An official document that states your name and address, like a passport or drivers license and in New Zealand customers need to provide a proof of address document
- The name of the recipient’s bank
- The recipients bank account information; account number, bank name, address, email and phone number
Once you have these documents, you’ll be ready to tackle the online verification process.
For the sake of speed, it can be tempting to choose a company like Western Union that do not have an online verification process. However, identity fraud is a problem that is rife throughout the world, which is why it’s understandable that there could be some reservation about making money transfers with a company that you find online. This makes it necessary for any company offering financial services to provide a verification system that ensures they are dealing with a real human being that are who they say they are.
At the end of the day, the decision to choose a company that verifies their customers is up to you, but you need to remember that by making this call, you are gambling with your financial details in the wild west of foreign exchange providers, so tread carefully.
Biometric verification is usually a quick 2-step process if you are prepared. It involves taking a selfie and uploading a scan of an identity document that verifies the details you have entered during registration.
Tips to take your identification photo
Have you ever taken a good selfie before? Chances are you’ll already know how to operate a camera and have an inkling about lighting. When you take a photo for your International money transfer verification it’s as simple as taking a good selfie. Just follow these basic rules:
- Make sure the light is facing you
- Watch the screen so that it captures your whole face
- Make sure the document is laid on a flat surface when taking the photo
Make sure your recipient is set up and ready to go
There are 2 ways that you can get money to the Philippines that are both setup slightly differently.
For standard bank deposits
Once you’ve set up your OrbitRemit account you will need to enter your recipient details. Recipient details include bank account details and a shortlist of other personal information relevant to your recipient. You can be assured that you’ll only need to enter recipient details for your AUD to PHP transfers once if you are sending to the same person every time. These details are saved in the system and enable you to easily select your recipient next time you need to transfer money.
Organizing a cash pickup
One of the many benefits of OrbitRemit is a plethora of cash pickup locations around the Philippines. These include:
- PS Bank
- LBC Express
- Robinsons Department Store
- M Lhuillier Pawn Shop
- Palawan Pawnshop
- Globe GCash Outlets
- Cebuana Lhuillier Pawnshop
- RD Pawnshop
To get the fastest transfers it pays to have the cash pickup recipient loaded into your account so that they are easily selected.
Adding a cash pickup recipient is a slightly longer process than a bank deposit recipient. This is due to pickup-up outlet needing to verify the recipient. When you fill out the recipients form you will be required to enter the recipients date of birth. It’s important that you complete the recipient details accurately. On pickup, the recipient will be required to recite their date of birth and present a document with their name on it as it will be stated on your OrbitRemit recipient details. If the name and date of birth don’t match the recipient may be denied their payment. This is common with any money transfer service. So, make sure that the details you provide OrbitRemit are correct.
Fund your payment first thing in the morning
Most people transfer their money overseas at night. There are many reasons for this like being at work during the day, putting the kids to bed or waiting until the evening to do finances. If you send your money in the evening, you’re committing to a next day payment. The trick to making your payment to the Philippines arrive on the same day is to setup your payment in the morning before 11am New Zealand time. 11am is when OrbitRemit will make the payment to their overseas bank account which means that your money will show up in your recipients account that very same day.
Weighing up the competition
There are a lot of players in the money transfer market. Each company has a different benefit or feature that makes them different to the rest. They all offer different exchange rates, transfer fees and levels of security so you need to choose one based on your own personal needs. Fortunately, OrbitRemit is one of the fastest remitters to the Philippines. If you make your remittance in the morning you can expect it to be in your recipient’s bank account on the same day.
Now you know how to get your money to the Philippines faster
It’s easy to move your money overseas fast if you follow these basic rules. Setup your payment in the morning to ensure it gets there on the same day. Make sure you have already signed up to the remitter and have verified yourself with a photo and an official document. If you’re using a cash pickup service to one of our many pickup locations, ensure you’ve entered the correct details of the recipient so that they can pick up their cash without question. Now that you know how to get money to the Philippines faster you can take the time and enjoy your Sunday stroll.