1. Exchange Rates

It’s obvious that the first thing you consider when sending money is the RATE. All companies have fluctuating rates from time to time, and no one can predict a better rate unless you study FOREX then you might have a gist on it. But for most foreigners, the best you can do is find a trusted remittance center and observe when they change their rates in a day and then decide whether the rate benefits you or you shall wait another day for a better rate. Most companies update their rates on their websites, mobile applications, and social media platforms like Facebook and Instagram.

2. Hidden Charges

Most remittance companies market their “lowest charges” but have hidden fees once you register and try to remit. Make sure to check their website and try the simulation or calculator section where you can get the amount needed depending on the current rate like the example below.

This calculation varies on how you deposit the money, how much you will send, the current rate, and the payment method. Do not get fooled by the cheapest fees marketed because those are just remittance fees and ATM charges are not yet included. ATM charges are cheaper during daytime and on weekdays, so you better watch out for that. Also, the ATM charges vary on the amount you deposit/transfer, the bigger the amount, the higher the charges. It is recommended to contact their customer service and ask for the most favorable or cheapest way to process your remittance.

3.Promos, Discounts, and Freebies

Promos will never go out of style and it`s better not to miss that chance. Most remittance companies have promos like referrals, birthdays, or raffle draws. Take advantage of your registration or membership and you might have a zero-yen charge for your next remittance! You can also get free remittance cards and choose the best one fit for your availability in sending your remittance.