Yo Manila | The Best Domestic Money Transfer in the Philippines | Filipino is well-known for being a hardworking citizen. Nowadays, the innovation of sending money are more convenient among Filipino workers. Some of the business owners are sending money to their remote team or work from home team through money transfer platform or remittance center. Having a domestic money transfer is one of the best solutions to lessen the traffic jam in metro manila because people will only work at home and go to the office for reporting only. The compensation will transfer to them through banks, remittance centers, or money transfer applications. If you are looking for the best domestic money transfer in the Philippines, you are in the right place.
The Money Transfer
Money transfer is a method of transferring money from one place to another. For example, transferring money from Luzon to the Visayas with real-time transferring. Money transferring has different methods, it can be done electronically and physically. Here are the four major methods for transferring money in the Philippines:
- Electronic Fund Transfer
- Transferring money from a mobile bank or Money transfer app to a bank account or money transfer account.
- Money Order
- Using Paper documents to transfer money. This is one of the safe transfers of money because you should get the information about the sender and show your identification before the money order released.
Factors When Sending Money within the Philippines
Here are the factors you should consider when sending money within the Philippines:
- The authenticity of the Company
– You should search if the remittance company is reliable. Check the company’s license and track record.
- Speed of Transaction
– Consider the quick transfer of funds to your recipient.
- Cost of Transaction
– Check if the price of transferring money, some of the money transfer money application is applying a free transfer fee for the first year of the account. Also, check the transparency of the charges in your transfer fee.
- Accessibility
– The location or means of transfer be accessible to the recipient?
- Customer Support
– Lastly, the most important is customer support. A remittance company or money transfer application with good customer support is trustworthy for your money.
6 Best Domestic Money Transfer
1. Western Union
Western Union is an American worldwide financial service and company which is well-known in the remittance center in the Philippines. The type of transfer is traditional and it the delivery speed is instant. With the “Sulit Padala” money transfer of Western Union, you can send money anywhere in the Philippines with a lower transfer fee. They became one of the best domestic money transfer company in the Philippines in 2020. See below the “Sulit Padala” transfer fee:
2. M Lhuillier Kwarta Padala
The ML Kwarta Padala is a leading remittance service provider here in the Philippines and also abroad and has served millions of Filipinos in sending and receiving their money to meet all their family’s financial needs. They also known to be one of the best domestic money transfer service providers in the Philippines they have over 2,500 branches nationwide. Sending and receiving money through M Lhuiller also convenient for the people who live in rural areas. Below is the list of ML Kwarta Padala Rates.
3. Cebuana Lhuillier Pera Padala
Cebuana Lhuillier is a financial service company that provides services such as pawning, remittance, microinsurance, micro-savings, and business to business microloan. In the early years, Cebuana Lhuillier is known as one of the biggest pawnshops in the Philippines. But now, they are one of the best domestic money transfers in the Philippines. Pera Padala, Cebuana Lhuillier’s Remittance Service, is an easy, quick, and safe way to send and receive the money within and outside the Philippines. It is the traditional way of remittance wherein the sender must complete the information form provided before sending the money. After sending it, the receiver may claim it on 2,500 branches nationwide. Below are domestic rates of money transfer of Cebuana Lhuillier.
4. Palawan Express Padala
Palawan Pawnshop is one of the most reliable, fastest-growing, and leading pawnshops in the Philippines. After 30 years since they opened their first branch in Puerto Princesa on 1985, they are now expanded their business to money remittance, known as Palawan Express Padala. Palawan Express Pera Padala is Palawan Pawnshop’s fast and simple domestic remittance service with the most affordable rate of only a P2.00 minimum. In addition to the growing number of branches and remittance outlets, they partner with SM Malls, Robinsons Department Stores, 7-Eleven, and LBC to add more accessible locations and make remittance transactions more convenient to the remitting public. They are now one of the best domestic money transfers in the Philippines. Below are the rate cards of Palawan Express Padala.
5. LBC Instant Peso Padala
LBC is the one the leader in terms of payment and money transfer, mail, documents, parcel, cargo, and logistic in the Philippines. With a growing network of over 6,400 locations, partners, and agents in over 30 countries. LBC gives smiles around the world by committing to helping to move live, businesses, and communities, this is why they are one of the best domestic money transfers in the Philippines. LBC Instant Peso Padala is a service that is useful for sending money allowance, money for groceries, or for payment of medication. Instant Peso Padala is LBC Express’ fastest way of remitting the money in local remittance partners nationwide. Below is the rate card for LBC Instant Peso Padala.
6. EON Ph
EON Ph is the first fully digital, award-winning neo banking platform in the Philippines. Through its focus on users’ security and convenience, EON has become the partner of choice to communities requiring innovative banking solutions. In EON you will surely secure your money transfer because it is the best NEO banking in the Philippines, perhaps also in the world, and it is accessible anywhere in the Philippines. You can download it on the App Store or Google Play for free. EON Ph is the pioneer of selfie banking in the Philippines. EON’s Selfie Banking uses state-of-the-art facial recognition technology to let customers log in to their accounts simply by posing in front of a smartphone. It’s as easy as opening the EON app and taking a selfie. EON Ph is one of the online platforms for the best domestic money transfer in the Philippines. The rate of sending money is might vary on the bank of the receiver.
