Sure. TransferWise is not the only provider in town for great transfers. If that were the case, everybody else would had packed up and gone home. That is clearly not the case. It all depends on the corridor(s) in question and what type of money transfer service is being offered. TransferWise has its fair share […]
What’s the safest and securest way to transfer money from the Philippines to the US, by wire transfer, online, or through bank, etc.?
Bank transfers are usually the safest. In your reference you cited, wire-transfer, online or through bank. All these are essentially the same. The only difference is, if the service is being provided by the bank itself (like BDO, etc.) or by an non-banking financial institution (like Xoom or TransferMate, etc.).
This is usually achieved by something called Pre-funding. It is a concept by which the Sending company, pre-funds foreign currency with the beneficiary country’s banks. For example if money has to move from UK to Philippines. Transferwise will maintain a pre-funded account with say Bank D’Oro (BDO) in the Philippines. Once TW gets a confirmation […]
The world’s P2P (person-to-person) remittance market is estimated to be over the US$ 600 Billion mark. You can also watch this video for a brief explanation