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Sending money from UAE to the Philippines is a Breeze

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Several million Filipino men and women work in several cities in the UAE, including Dubai, Abu Dhabi, Ras Al Khaima, and Sharjah. Most of the working Filipinos live and work alone and send money from the UAE to the Philippines on a very regular basis, mostly on a monthly basis. A lot of people are, thus, constantly looking for safe and low-cost ways to remit money back home to their families.

Filipinos also send money from UAE to the Philippines to other organizations and other purposes, which mostly include

  • Payment to investment schemes directly. These are periodic term deposits.
  • Payment of EMI’s (Equal monthly installments) for repayment of personal or housing loans.
  • Payment of school or college fees.
  • Donations to charitable organizations.

Modes of sending money

There are now several ways to send money from the UAE to the Philippines. These are as follows:

Direct bank to bank transfer. This is the traditional and the most trusted and timeless mode. But people using this mode of sending money need to be careful as there are hidden charges and not necessarily the lowest exchange rates between the Emirati Dirham (AED) and the Philippine Peso. People remitting the money discover the charges later when the recipient has received pesos, and the sender calculates the actual exchange rate and charges.

Transfer through money exchange agencies- This is another popular way that is on its way to becoming an emergency priority only. The sender pays the equivalent AED at the local office of the agency. Such agencies have offices and service centers in almost every town and city in the Philippines. The beneficiary or recipient needs to go to the office or service center of the agency personally and will be paid the equivalent amount in Pesos directly in cash. There are many agencies with a wide network of offices and service centers, and it is a convenient way to send money from the UAE to the Philippines in cash. This method is, however, a little expensive as the service charges are high and the exchange rate is lower.

Transfer through UPI IDs- This is one of the latest and most popular modes to send money from the UAE to the Philippines. Both the sender and the receiver or beneficiary can use their mobile phones. The sender can remit the amount directly to the UPI ID of the beneficiary, and the money will be transferred almost instantly to the beneficiary's account through the UPI ID. The problem with this mode is that the sender will need to keep track of the exchange rate between the AED and the Philippine Peso and remit the money at the time when the exchange rate is the best.

Transfer to debit or credit card- This is another convenient way to send money from the UAE to the Philippines. Some apps and sites allow their registered members to send money from the UAE to the Philippines directly to the card of the recipient. The credit or debit card of the beneficiary must be a visa card or mastercard, and the money is credited directly to the beneficiary's card account. This method is again at risk of the best exchange rate not being used all the time.

Choosing the exchange rate- There are service providers that send money from UAE to the Philippines and allow senders to select their most preferred exchange rate. Senders can select their most preferred exchange rates and deposit the equivalent AEDs to the site. The deposited money will be parked until the exchange rate selected by the sender becomes valid, and the money will be sent to the beneficiary. While this process guarantees the exchange rate, there is likely to be a delay until the preferred exchange rate comes.

Services using links- There are money transfer agencies and apps that require both the sender as well as the beneficiary to register on their site and create their individual login IDs. The sender can send from the UAE to the Philippines on the site and create a link. Once this link is created and communicated to the beneficiary, the beneficiary can key in the link and receive the money directly in Pesos. These sites offer many benefits and free transfers for the first few transactions. People, however, need to check the charges that will prevail after the free transactions are over and ensure that they are not overcharged to make up for the free transfers.

Sending money is indeed a breeze nowadays.

These modes of sending money from the UAE to the Philippines have made the whole process very transparent and comfortable. People need to verify the authenticity of the different money transfer sites and agencies and use only the certified ones to be safe.