Overseas Filipino Workers (OFWs) are modern-day heroes because of their sacrifices to provide for their families. Their efforts also boost the local economy through their foreign remittances, like exports sold to other countries to earn dollars. Remittances refer to the earnings OFWs send to their home country.
Ultimately, OFWs need a reliable way to send their finances to their families here in the Philippines.
Upon recognizing the demand for trusted money transfer platforms, numerous remittance companies in the Philippines began offering the necessary services to provide OFWs and ensure that the fruits of their hard work reach their families. Several money remittance services via local brands are available in nearly every city, with variations depending on the province or region.
Here are some trusted brands that OFWs and their families can count on when it comes to remittances:
Cebuana Lhuillier
One prime example of a reliable remittance company in the Philippines is Cebuana Lhuillier. Over the years, it developed into one of the country’s most significant financial service companies nationwide. Since it opened its first branch, Agencia Cebuana, in Cebu, the brand continuously embraces breakthroughs and innovations to achieve its vision of becoming the best and providing equally top-quality service.
They take pride in their money transfer service, dubbed Cebuana Lhuillier’s Pera Padala service. It’s known for being effortless, quick, and safe, allowing customers to send and receive funds inside and outside the Philippines.
Cebuana has numerous remittance partners nationally and internationally. Each branch has the personnel and equipment to enact money remittance services to their customers. But before they can send or receive funds, Cebuana also implements strict security measures to ensure the privacy and safety of their customers, so they can send and receive money without worrying about it falling into the wrong hands.
Western Union
Another leading money transfer service company in the Philippines is Western Union. Because of its years and visibility, Filipinos inside and outside the country recognize the brand’s established credibility and performance in making financial services accessible to people everywhere. In a way, they aid in sending Filipinos affection to their loved ones from everywhere across the globe.
The brand is known for creating and offering easy-to-use products and services that bridge the digital and physical, giving customers a choice, security, and reliability. From their humble beginnings, they used advanced technology to connect with their customers and stay focused on meeting their visions. During the previous year, Western Union’s customers made 268 worldwide transfers in more than 200 countries and territories. Having been around for more than 145 years, Western Union boasts performing an average of 31 transfers per second, amounting to $80B annually.
Besides conducting prompt and efficient money transfers, Western Union also provides an anti-fraud service to avoid scams that ultimately endanger customers. This level of concern makes the brand among the trusted ones in the country.
ML Kwarta Padala
In the Philippines and overseas, ML Kwarta Padala is one of the leading remittance service providers, serving millions of Filipinos to help meet their financial needs. Among the brand’s priorities is delivering excellence and achieving total customer satisfaction. It prides itself on easy procedures, convenient locations, and available cash in all branches. Its numerous remittance partners make it effective in sending money to and from the country.
Some of its key features are the continuous expansion in the Philippines, strengthening partnerships across the globe, and embracing innovative technology-based services to ensure efficiency and security. The brand’s increased visibility makes it well-known among OFWs and their families.
They also offer a user-friendly tracking service to keep their customers updated on their transactions, ultimately establishing a sense of trust and reliability.
LBC
With various technological advancements, people look forward to getting things done in a few seconds and a touch of a few buttons. And as the most extensive express courier, cargo, and money remittance service company in the Philippines, LBC offers just that through its Instant Peso Padala program.
OFWs use their remittance funds for different purposes, often hoping that they’ll reach their loved ones immediately. LBC’s cash padala service allows families in the Philippines to receive the money and use it for allowances, bills, and emergencies without going through a lengthy and tedious process.
Customers can effortlessly fill up a form and receive a tracking number in LBC’s numerous branches to enjoy a hassle-free remittance service.
Things to consider when sending money
Since OFWs and their families depend significantly on remittance services to receive funds or finances, it’s not unusual to see customers be wary of brands. Whether remittance companies are new or old, others still have their guard up about their safety and efficiency to keep their efforts from going to waste.
Before engaging with remittance service providers, one should research to determine if it would be a beneficial transaction in the long run. One of the first things to think about is the company’s dependability. Aside from its history, customers need to know about the service provider’s track record and license to see if they accomplish their responsibilities accordingly. Moreover, customers should also inspect if companies have a responsive, courteous, and functioning customer service team they could contact when problems arise.
Next comes accessibility. Sure, customers can visit branches in prominent locations like malls, among other establishments, but some appreciate having a remittance service provider available a stone’s throw away from their homes. Companies must also consider the customer’s convenience and how they can provide new opportunities.
Lastly, there’s the cost and speed of the transaction. While most companies can accomplish their tasks at almost the same rate, they sometimes differ in the fees they require from customers. Each service varies at some point, but it’s best to engage one that makes each cent worth it.
Sending money from overseas to the Philippines and vice versa doesn’t have to be complicated. With due diligence and the right brand carrying out the service, the country’s modern-day heroes can rest easy knowing the fruits of their labor can reach their families safely with love and good intentions.
