Money Transfer - Companies

 

 

 

Money Transfer options in the past 10 years have exploded as technology and competition have driven new ways to send money fast.  The best options are for those who send money online, taking advantage of new money transfer options and competition that have helped drive costs down and make it easier than ever - especially if you're sending money regularly.

Send Money to the Philippines - iKobo

The money transfer market has seen a number of capable providers enter the market over the past 5 years.  Many of the new providers are either competitive offerings from banks who have a strong base in the country you're sending money to or are online niche players who are focused on individual destination countries for money transfer. 

One of the super competitive low cost money transfer services who has done a solid job is iKobo - particularly if you send money to the Philippines.  Features for those who do money transfer with iKobo include:

Money Transfer Costs - Send Money to Philippines

If you transfer money regularly, you're probably aware that high costs from bank wire transfer services or traditional services like Western Union or MoneyGram are prohibitive.  Fortunately, reliable options for those who need to do money transfer transactions are driving prices down - and iKobo has ultra competitive rates starting at about $8 ($5 + 3% of amount being sent) - compared to standard money transfer fees of $16 and more for the same amount by their larger competitors. 

 

 

If you are someone who does money transfer regularly then this is a great option.  The receiver will need to have a debit card shipped to them that's reusable for receiving future transfers.  If you send money to the Philippines regularly this isn't a big obstacle - and savings are substantial.

Final Thoughts - Transfer Money Alternatives

Costs have always been high in wire transfer and money transfer services.  While convenience from being able to send money online is great, the largest traditional companies like Western Union still charge a large fee for the service.  If you rarely send money, this option probably isn't the best for you.  But if you transfer money to the Philippines more than 1-2 times per year, this is a viable alternative that can help you save as much as 75-85% off the larger traditional wire transfer company fee's.