Nowdays, there are a lot of ways to send and receive money from anywhere in the world. Modern facilities enabled us to transfer money from one account to another in as fast as the blink of our eyes. In the Philippines, where more or less of the population are working abroad, the need for good money transfer companies is highly in demand. Over the years, these companies have grown in number.
Receiving and sending money from or to the Philippines have been made easier ten folds. Before, the only way you can receive and send money is by means of traditional post mails. Over the years it changed and for quite a long while, the country enjoyed cheque deliveries. Though faster and easier as compared to the traditional method, it still prove to cause a lot of effort and hassle to those living in remote areas of the country.
And then the real time money transfer came. The likes of Western Union and Money Gram are now a popular means of receiving and sending money within and outside the Philippines. Actually, they are the most popular method especially to those people living rural areas. This is because companies like these were able to establish small money centers making them more visible to many, granting easier access.
Online remittance is also a popular way of transfering money to the country, which is obviously frontlined by PayPal. If you have a paypal account and have linked it to your personal bank accounts, your money will be deposited directly in 123. Some are using this to make multiple ways of transfering money in just one account. One example is Xoom.
Xoom uses PayPal to transfer money from one person/company to another person/company. It offers three ways of sending and receiving money. The first one will go directly into your bank account, the second will be a hand-picked up cash and the third one is through a door-to-door delivery method. Cash pickups can either be done a few seconds after remittance (higher fee) or by a 4 day process (lower fee).
There are still a lot of other ways to send and receive money in the Philippines though those that we mentioned above are the most famous. Different money transfer methods fit with the needs of different people, you just have to choose what's the best for you and your pocket.
