Banks Rip Off

[Jollygoodfellow]

Yesterday I did a check on using my bank here in Australia for sending money to the Philippines,I then compared it to my usual way of using Orbit Remit.Westpac bank,Fee $20Orbit Remit,Fee $10 Exchange rate was a bit over 2 peso better with orbit than the bank. Stuff the banks :mocking:

[Dave Hounddriver]

You may want to compare leaving you money in your bank and withdrawing via an ATM card. You get a better exchange rate that way than letting the bank send money for you. But the amounts you can take each time are small so you pay more service charges.

[Jollygoodfellow]

You may want to compare leaving you money in your bank and withdrawing via an ATM card. You get a better exchange rate that way than letting the bank send money for you. But the amounts you can take each time are small so you pay more service charges.

Yes thanks Dave but I was not referring to my own use,my wife lives in the Philippines while I live in Australia so sending money is necessary. :mocking:

[Bundy]

Yesterday I did a check on using my bank here in Australia for sending money to the Philippines,I then compared it to my usual way of using Orbit Remit.Westpac bank,Fee $20Orbit Remit,Fee $10 Exchange rate was a bit over 2 peso better with orbit than the bank. Stuff the banks :no:

Always the way Boss Man! We are with ANZ and they charge $25 and give a very weak exchange rate. The only way i have found is to use a third party to actually transfer the money. Aussie ATM cards or visa debit cards etc are not a good thing to use in the Phils either as depending on what card and which bank, you'll get hit with a flat fee and also another fee proportionate to what you withdraw in the Phils.I've found over the years that a CUA card seems to be the best as far as fees goes but like you i just send money via a third party, it's cheaper all round. Commonwealth bank just announced a squillion dollar profit in these uncertain times and they still gotta whinge!I'm with you brother.........stuff em!

[Candyman]

Try MMBB at : https://www.mmbbservices.com/15/ We used to use them all the time from Oz to the Philippines. Door to door if you want it. One day to Manila, two days to Cebu and all provences. The exchange rates are good, and from memory, the fee was about $7.00 AUD for any amount.

[Jollygoodfellow]

Try MMBB at : https://www.mmbbservices.com/15/ We used to use them all the time from Oz to the Philippines. Door to door if you want it. One day to Manila, two days to Cebu and all provences. The exchange rates are good, and from memory, the fee was about $7.00 AUD for any amount.

HowdyJust had a quick look at their site and their fees are $13 per transaction which is $ 5.00 more than Orbit so at this stage I will stay with them, also Orbit give you every 10th transaction free.No I dont have any affiliation with them except being a customer and the service is spot on. From Their site

How much is the service fee for a bank transfer? All bank transfers are AUD$13.

[CebuAndy]

HSBC Thailand cash withdrawal overseas :with HSBC ATM machine: fee US$ 2,50with other ATM machine: fee US$ 3.45 cash withdrawal limit US$ 1.380 per day.Only drawback minimum deposit for opening account is TBH 100.000 (US$3.450) HSBC Thailand:http://www.hsbc.co.th/1/PA_1_2_S5/content/thailand/thailand-pws/01-home/tariff/tariff_pfs.pdf HSBC Australia (other tariff):http://www.hsbc.com.au/1/PA_1_2_S5/content/australia/common/pdf/personal/fees-charges.pdf Overseas Transaction Fee - Cash Withdrawals from other countries Fee $4,50

[roy2cebu]

MFF has a money sending facility....can be delivered direct or into bank here... fairly good exchange rate and fee $8

[Steve & Myrlita]

Xoom is fair but not the best. $5.99 per send plus about P1 off the exchange rate.

Edited September 30, 2011 by Steve & Myrlita

[Genius]

Those 200 peso fees onto of the normally charges for international withdrawals from ATMs irritate me, especially as 20k or more likely 10k is the max you can get out.