Transfer Money Overseas
- A Review -

After scouring web reviews on money transfer services, I firmly stand on the following recommendation:

Xoom is the best known for security, reliability and low service cost if you want to transfer money overseas. From the comfort of your home, you can send or receive money within minutes or a few business days for recurring remittances to/from people worldwide. No bank account or internet connection required for the recipient.

For comparison, here are the other money transfer services. If you don't mind, I'll do away with the usual postal service, banking and credit union processes. They're just too tedious I think, for both sender and recipient. Doing online money transfers is the best, fastest, and cost-effective. It's also a given fact that these services are secure and offer dollar-to-peso remittance.

You'll see why I recommend Xoom.com. So you can tell your friends about it!

Say, I like to send $300.00 to the Philippines using the "economy" package, i.e., takes 2-5 business days to reach recipient, these online money transfer services will charge me -

• Western Union money transfer fee: $10.99
  The most common method used to transfer money overseas to the Philippines, usually by Americans. Sender gets a free 5 minute phone call to the Philippines, a short time to notify the receiver about the money. Transactions have to be made in a Western Union agent location in the Philippines. Not the cheapest.

• MoneyGram money transfer fee: $10.00
  A competitor to Western Union, almost similar benefits. Not as many pick-up outlets as Western Union though.

• Uniteller money transfer fee: $12.00
  This was the first service I used. I didn't realize I could do it much easier and cheaper with Xoom. There is a one-time registration fee. Transfer money overseas only at Uniteller sales locations. Recipient withdraws cash from an accredited bank in the Philippines. Though money is received within minutes, if you're sending money regularly on a monthly basis, this might be too expensive for you.

• Philippine National Bank money transfer fee: $6.00
  Hold your anxiety for the low $6.00, because you have to have an account with the bank (an accredited bank here in the US), $9 for pickup at a PNB branch, or $10-14.00 delivered. Slow process. Requires you to mail in your payments if there is not a PNB branch in your area. An account should be present at a local branch in the Philippines. Besides, Xoom will only charge $5.00 if you send $200 to the Philippines!

• Padala.com money transfer fee: $15.00
  Offers a flat fee $15 for bank-to-bank, and $20 for door-to-door services. Only recommended for higher dollar amounts, because the flat fee makes Padala less expensive than other services.

$7.50!

Therefore, Xoom is your best option.

Send $50 - pay $3.50 only!
Send $100 - pay $3.50 only!
Send $200 - pay $5.00 only!

Each year an estimate of $250 billion worth of money is transferred internationally. Not only Xoom is the best company for sending money to the Philippines, but a large percentage to transfer money overseas is by foreign immigrants to support friends and family and invest in their home country. To add, due to the gaining popularity of outsourcing, many small businesses use money transfers to pay foreign-based contractors.

Send money to India. Send money to Mexico. Or just anywhere globally.

Xoom (pronounced zoom) is committed to developing a global online-to-offline money transfer services. It enables its customers to leverage the power of the internet to send money 24/7 to countries around the globe. Long gone are the days to drive or wait in line.

Why Xoom money transfer services?

• Low fees – Pay only $3.50 to send $50.00! Also up to 80% cheaper than Western Union and MoneyGram’s online services.
  
• Convenience – Transfer money anywhere and anytime online 24/7.
  
• Reliability – Customers have 100% satisfaction guarantee.
  
• Expansion - Over 50% more pickup locations.
  
• Flexibility – Unlike others, Xoom offers direct deposit to a bank account, cash pick up, secure debit cards, or home delivery.

In the Philippines, cash pickups are at over 1100 Equitable PCI Bank branches, Cebuana Lhuillier and One Network Bank locations, deposits to all major banks, and delivery throughout the country.

And also get a free 5 minute phone call for every money transfer.

So, be smart. Share this information to friends and family. They'll appreciate you for it.

A dollar saved is equivalent to an extra 2 kilos of rice sent to the Philippines.

To transfer money overseas, Xoom is the way to go.