Sunday, January 20, 2008

Ikobo: The Sensible Way to Send Money to the Philippines

For most Filipinos abroad it is an undeniable fact that a big part of our earnings overseas is being sent back to our loved ones back home in the Philippines. Even for those who have migrated to places outside of the Philippines, the obligation continues. Yeah it is, in fact, weird as it sounds, an obligation.

Imagine sending $600 to your loved ones and spending $50 bucks for the transfer service? That’s a lot!

You can opt to pay less by doing bank to bank transfers but it takes a while before your recipients get hold of their cash.

In emergency cases, you have no choice but to pay the higher service fee even if it burns your pocket.

I used to do that. For the sake of speed, pay extra fees. That’s an old story.

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