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Send Money/Remit to Philippines

Multi-Trade BPInoy Remittance
An Accredited  Bank of the Philippine Islands   tie-up company.  Serving Pinoys coast-to-coast in Canada


Western Union probably handles the most number of remittances from Canada to the Philippines.  

They are everywhere: In 2005, it was estimated by TIGRA (Transnational Institute for Grassroots Research and Action) that the largest company had close to 350,000 agents worldwide: More than ALL banks combined and 10x more than ALL MACDONALD’S in the world.
 
Many  Filipino stores in Canada have even dropped  tie-ups with the traditional Pinoy-owned remittance companies, in favour of being agents of Western Union.

However, a sizable segment of the Filipino community still patronize traditional Filipino-owned remittance service providers, and get the benefit of better (higher) Peso-Dollar exchange rates, and lower transaction fees.

The average Pinoy remittance back home is under $500 per transaction.  In transactions by same remitter to same beneficiary totalling $300, the recipient received almost Two Hundred Pesos more while the sender saved $8.00 in fees.  By sending the money thru BPInoy Remittance tie-up company in lieu of the client's previous favourite service provider Western Union.

It is known to the customers that Western Union makes money not only from the remittance fees but also from foreign exchange gains.  In 2007, a hundred days campaign to boycott Western didn't succeed to lower Western's effective total fees (service charge + currency conversion spread) which are, to be sure, legitimately earned.

Customers do have a choice of going to lower cost service providers such as BPInoy Remittance tie-up company Multi-Trade.  Given this option or choice, Western's customers who stay on with Western do not complain.

We even recommend Western to some friends whose beneficiaries don't have BPI or Family Bank accounts to credit for the remittance proceeds. Like, if the beneficiary could claim their money from a nearby rural bank in lieu of a BPI branch hours away by public transportation.


And though Western may cost more, they give back to the community. Like, last April 2011 Western Union Foundation provided a grant of US$250,000 to develop model to channel remittances for economic development in overseas Filipinos home communities. the funded project was jointly launched by the Government of the PhliIppines and the United Nations Development Program (UNDP).

Tuesday the 26th. Copyright 2013