6 Key Factors in Choosing a Remittance Partner for Filipinos

Sending money to support your loved ones is a deeply personal and important endeavor. Whether you’re an Overseas Filipino Worker (OFW) striving to provide a better life for your family or someone simply sending a financial lifeline across borders, choosing the right remittance partner can make all the difference.

When it’s your hard-earned money on the line, you want every dime to count. In this blog, we’ll explore the six crucial factors you should consider when selecting a remittance partner.

Exchange Rates and Fees

Some companies might offer what seems like a favorable exchange rate but make up for it with hefty fees that eat away your hard-earned money before it can even get to your family. Or maybe it’s the other way around, with seemingly low fees but a poor exchange rate that doesn’t let you maximize your remittance.

Finding a partner with competitive rates and transparent fee structures can save you money in the long run and send more to your loved ones.

Transfer Speed

Money from remittance is usually used by your family for medical expenses, tuition fees, or daily necessities. In such scenarios, any delays can be nerve-wracking and detrimental. Finding a partner with a track record of quick and reliable transfers ensures that your loved ones get the help they need when they need it.

Safety and Security

Imagine the anxiety of knowing your funds are not secure. You want to steer clear of companies where your money could be at risk due to inadequate security measures. A reputable remittance partner should have robust security protocols in place to protect your hard-earned money from potential threats. Knowing that your money is in safe hands provides peace of mind throughout the remittance process.

Accessibility

You wouldn’t want to hassle yourself or your loved ones when it comes to money transfers, right? Whether it’s due to limited physical locations or a cumbersome online platform, accessibility matters.

You shouldn’t have to deal with issues like a cash pickup outlet being too far away or having limited options for your preferred online transfer method. Your chosen partner should make it as effortless as possible, ensuring that your hard-earned money reaches your loved ones without any unnecessary stress or inconvenience.

Customer Support

Exceptional customer support isn’t just about getting help—it’s about having a trusted partner who listens to your concerns, provides prompt solutions, and offers guidance throughout your transaction.

What’s even better is that this support is available 24/7. Regardless of the time zone or the urgency of your situation, knowing that you can reach out to a responsive and friendly customer support team around the clock provides you with unmatched peace of mind.

Track Record

Imagine selecting a partner with little to no history or a questionable reputation. Not only do you subject yourself to stress and paranoia, but you could also potentially risk your hard-earned money and the future of your family.

That’s why it’s crucial to do some sleuthing and find a company with an established track record. Checking reviews and digging into their history will help you make informed decisions. You’ll know that reliability and reputation are the result of years of dedicated service and countless satisfied customers.

Finding the remittance partner

When it comes to sending your hard-earned money from the UK to the Philippines, the stakes are high, and the need for a reliable remittance partner is paramount. We’ve explored the six crucial factors to consider in a remittance partner, and BCRemit checks all the boxes.

With BCRemit, you have a trustworthy partner ready to serve your remittance needs. We’ve got you covered on all fronts, ensuring your hard-earned money reaches your loved ones efficiently and securely. Your loved ones are counting on you, and we’re here to make sure your support reaches them without a hitch!