February 3, 2017
Let’s start with – Trust me, I’m an accountant.
I’ve been wondering how to send money to the Philippines, and this is the best one yet. Why?
- Highly competitive exchange rate. They match the market (from JPY to PHP) rate, as opposed to the normal money changers where they tweak it a little bit. They are way better than BDO and Czarina, and when I did my market research a couple of years back, these two had the most competitive buy rates.
- Minimal service charge. I was prepared to shell out around JPY2,500 as it’s the JP Post rate, but the rate is actually lower (see picture below). Others may not have service charge, but the exchange rate is crap.
- Fast processing. You only need your resident’s ID to wire money. Then the money is received within the day. Voila!
I didn’t want to bore you with the details, but I can break this down for you in a couple of ways. Some deciding factors for me though are:
- I don’t speak Japanese fluently. So it is a bit difficult to go through other venues.
- I don’t have My Number, which is needed in a lot of financial transactions here.
Address and contact details in the picture below