Do you wish to send money to the Philippines from your Australian bank account? Sending money from Australia to the Philippines can be achieved with much ease as there is a myriad of options to do the same. However, if you happen to be a newbie into this, then you might find the process to be slightly complicated and expensive. Therefore, it is vital to do your part of research before making any final decision upon the process of transferring money from Australia to the Philippines.
Here is the most lucrative method of transferring money from Australia to the Philippines in a convenient manner:
Direct Transfer of Money from the Australian Bank to the Philippines Account
This is a straightforward and the most convenient way to transfer money to Philippines from Australia. The best feature of this type of sending money is that it is highly secure. As the entire process of transferring money is verified properly and is regulated by the government authorities, the bank transfer of money is the most reliable amongst all other modes. As the verification process could be lengthy, it might take around 5 days for the successful transfer to happen and reflect in the recipient’s account.
Several banks in Australia are offering the ease of transferring money overseas to the Philippines with much ease. There are both online as well as offline modes of sending the desired amount of money. You just need to visit the bank’s official website and then log into the same by making use of your login credentials like username and password. In case you are using the same for the first time, you can sign up into the bank’s website for making the desired transfer.
Once you have logged in successfully, you have to fill a wire transfer form by entering the exact details in the given field. It is to be noted that all the information need to be correct and updated as it will get verified by the concerned bank. You must enter the recipient’s full name, address, contact details, account details, bank details and so more. In addition to these, you also have to present your identification proof to the bank while making the transfer. Once all of these are done, you can enter the desired amount to be transferred.
It might take around 3-5 days for the successful transfer of money through the bank. However, you can be assured of the complete privacy and security of the financial transaction taking place.
In case a particular bank is not offering the online mode of transferring money to the Philippines from your bank account in Australia, then you can visit the offline branch of the concerned bank. Here, you can fill the desired wire transfer form to make the seamless transfer of money possible.
The only disadvantage offered by the transferring of money from your Australian bank account to someone’s in the Philippines is that it is usually not the cheapest mode of sending money. This is because the exchange rates offered by the banks are usually too low in comparison to the ones offered by the various money transfer companies like the Western Union and OrbitRemit. For instance, Westpac Australia usually charges $25 for sending a TT. Depending on the particular bank that would be receiving the money in the Philippines, there are additional charges levied upon the money transfer through banks in Australia. This is the reason why several individuals prefer the private money transfer companies in Australia for sending their money overseas to the Philippines.
Make your wisest choice!