Key Factors Filipinos Need to Consider When Choosing the Right International Remittance Service

May 03, 2024

International Remittance Service

Did you know that there are 2.33 million Filipinos working overseas and around 11% of the total population of the Philippines live abroad? International money remittance has become an essential service for our kababayans sending or receiving funds to/from family members and choosing the right international remittance service is crucial. 

With an abundance of options available, it is important to understand what to look for to ensure a seamless and secure money transfer experience. Here are some key factors to consider when selecting an international money remittance service:

Exchange Rates and Fees: Compare the exchange rates offered by different remittance providers, as well as any associated fees. Even small differences in exchange rates and fees can significantly impact the amount received by the recipient. Look for transparent pricing and low transaction fees to maximize the value of your remittance.

Transfer Speed: Time is often of the essence when it comes to international money transfers. Consider the speed at which funds can be transferred to the recipient's account. Some remittance services offer instant transfers, while others may take several days to process transactions. Choose a provider that aligns with your urgency requirements.

Security and Reliability: Security should be a top priority when selecting a remittance service. Ensure that the provider employs robust security measures to protect your sensitive financial information and transactions. Look for compliance with relevant regulations and industry standards to ensure reliability and peace of mind.

Global Reach and Accessibility: Check the remittance provider's network and reach to ensure that funds can be sent to the desired destination. Consider factors such as the number of countries served, availability of pickup locations, and accessibility through online platforms or mobile apps. A provider with a broad global network can offer greater convenience and flexibility.

ML Kwarta Padala

Are you seeking a reliable solution for sending money across borders with ease? Look no further than ML Kwarta Padala International Remittance service. 

With an extensive network of almost 70 partners worldwide, Not only can customers send money abroad, but partners overseas can also facilitate the transfer of funds back to recipients in the Philippines. This two-way remittance capability ensures seamless money transfers for both senders and recipients, regardless of their location. 

Receivers abroad can claim the transferred funds in their local currency, making it convenient for them to access the money without the hassle of currency conversion. Additionally, recipients here in the Philippines can claim at any of the M Lhuillier branches nationwide and have the flexibility to receive funds in either Philippine pesos or US dollars, depending on the sender's currency preference.

M Lhuillier prioritizes the security and reliability of every transaction. With stringent security measures and compliance with regulatory standards, customers can have peace of mind knowing that their funds are in safe hands throughout the remittance process.