Bank Transfer Uk To Phils

[hk blues]

Hi all...need some advice from those who have experience of transferring money from UK bank to Phils bank.

I'm going to be transferring quite a large sum from the UK (Sterling) in the near future. I'm thinking a bank transfer is the best option - to be honest, I have no experience of any other option such as money transfer through remittance and don't see how I could.

Thing is, I bank with BPI and I've checked exchange rates on the internet and, compared to such as BDO and PNB the rate is around 2.5 pesos lower - this will become significant due to the relatively large sum involved.

Am I missing something, or does BPI generally have a poorer rate?

Any help, advice, info. is much appreciated. Cheers!

[There's-a-chance.]

Hello hk blues,

Have a look at this company, 'they knock the socks' off of UK High St Banks when it comes to transferring money abroad.I use them myself and they always give a good rate of exchange coupled with reasonable charges.

 

 

https://transferwise.com/

[ironmaiden]

Why don't you open a sterling account in your BPI branch. Then you can still decide later on if you will have it exchanged at money changers or any other bank with a more favorable rate. I always send euros to my euro account at Metrobank and when I need cash, I have some exchanged at the bank at a good rate :  only 25 centavos less then the current rate at the stockmarket.