Why BCRemit is an Excellent Choice for Sending Money to the Philippines

The Philippines has a significant population of Overseas Filipino Workers (OFWs), with the Philippine Statistics Authority reporting 2.16 million OFWs from April to September 2023—a notable 9.8 percent increase from the previous year. This growing workforce abroad has contributed to the Philippines being one of the top five global recipients of remittances, with US$38 billion received in 2022, according to the World Bank. Moreover, in 2024, remittances from Filipinos abroad peaked at $3.08 billion in July, marking a 3.1 percent rise from the previous year, as noted by the Bangko Sentral ng Pilipinas (BSP).

 Given the crucial role of remittances in the country’s economy, ensuring safe and efficient money transfers is vital for OFWs. It is essential for Filipino workers abroad to make informed choices when it comes to remittances. With this, BCRemit emerges as an excellent choice for sending money to the Philippines, offering a range of benefits that cater to the needs of OFWs and their families.

Role of Remittance to the Philippine Economy

Remittances are crucial to the Philippine economy, influencing its growth and development in several key ways.

Help Individual Households

Remittances provide a steady stream of income that supports millions of Filipino families, helping to alleviate poverty by funding essential needs such as education, healthcare, and housing. This financial support enhances the quality of life for many, allowing families to invest in better living conditions and opportunities.

Contribute to the Country’s GDP

Beyond individual households, remittances are a driving force behind the country’s economic expansion. They contribute significantly to the nation’s Gross Domestic Product (GDP) by boosting domestic consumption and encouraging investment. Additionally, these funds help expand the financial sector by increasing access to financial services and promoting financial inclusion.

Overall, the role of remittances in the Philippines extends beyond mere financial transactions. They are integral to economic stability, poverty reduction, and the growth of the financial sector.

What is the Best Way to Send Money to the Philippines?

When choosing the best way to send money to the Philippines, consider convenience, cost, and transfer speed. The most popular method is using online money transfer services, also known as money remittance services. These services are widely used due to their reliability and ease of use.

In today’s digital age, using these online services often provides significant advantages, such as better exchange rates and lower fees compared to traditional bank transfers and international wires. By opting for an electronic transfer, you can ensure that your recipient in the Philippines receives more Philippine Pesos for every dollar you send. This is because of the competitive rates and lower fees offered by these digital platforms, making them a cost-effective choice for international remittances.

5 Benefits of Using BCRemit for Money Transfers to the Philippines

BCRemit is revolutionizing how you send money from the United States to the Philippines. Whether you are using a mobile phone, tablet, or laptop, our new application provides online money transfer services that allow you to transfer funds securely and efficiently via a Credit-to-Bank Account. As a fully online service, it offers a cost-effective solution with fast and reliable transfers, available anytime and anywhere with internet access. Discover the top benefits of using BCRemit for your international money remittance today.

Convenient and User-Friendly

As OFW or migrant workers who are always busy and on the go, BCRemit is a great partner for sending your money remittance to your family in the Philippines. With just a few taps, it allows you to transfer funds from the comfort of your home or office anytime, day or night, making sending money effortless and convenient. Through the use of your mobile phone, tablet, or laptop/PC, you can complete a transaction in just a few minutes. Here is how it works:

1. Log in: Access BCRemit through our mobile app or website.
2. Send Money: Add or select your beneficiary and specify the amount you wish to send.
3. Choose Payment: Select your preferred payment method.

For added convenience, you can pay via online bank transfer, or debit card, with each option offering different processing times. Additionally, it also features a user-friendly interface, which includes multi-language support, transaction tracking, and detailed transaction histories. With its simplicity and accessibility, BCRemit is a top choice for hassle-free cash transfers.

Low Transfer Fees and Competitive Exchange Rates

One of the issues when sending money to the Philippines is the high transfer fees and low conversion rates. As for BCRemit, aside from the convenience it provides, it also offers minimal transfer fees and competitive rates. Our transfer fees start at just $2.99 or £2.99, providing you with a cost-effective solution for your remittance needs.

To help you understand the costs we have an easy-to-use Send Money Calculator that allows you to see the transfer fee, exchange rate, and total amount based on your chosen delivery and payment methods. Whether you are sending money frequently or just occasionally, BCRemit ensures you get the best value for your money with transparent pricing and minimal fees.

Unlimited Money Transfer

Another struggle when doing money transfers is the amount limits. Especially during emergencies, these limits can sometimes be a hassle. If you are tired of waiting another day to send the remaining amount of your money transfer then, our money transfer app is the best for you.

With BCRemit, you can send as much money as you need without any amount limits. Whether you are making a small or large transfer, we accommodate your needs. For added safety, we conduct Enhanced Due Diligence (EDD) checks as part of our commitment to anti-money laundering practices. This ensures all transactions are secure. If you are planning to send a large amount, our team can provide you with personalized support and ensure a smooth transaction process.

Strong Security Measures

Digital money transfers come with multiple risks including scams, account hacking and more. As proof of credibility and trustworthiness, BCRemit is regulated by the Bank Sentral ng Pilipinas (BSP), ensuring a seamless experience for all your international money transfer needs. Moreover, our application employs advanced encryption technologies and adheres to strict regulatory standards to protect your personal information. For added security, our app features two-factor authentication (2FA), ensuring that only authorized users can access their accounts.

Additionally, our new app offers comprehensive tracking and notification features. Once your money transfer is complete, you can monitor its status in real-time and receive updates at key stages. The tracking tool provides insights into the processing, delivery, and receipt of funds, offering peace of mind. You will also get timely alerts via push notifications, SMS, or email, keeping you informed about your transfer’s progress and ensuring the recipient gets the money as expected. Above anything else, BCRemit prioritizes your security with measures to safeguard your data and transactions.

24/7 Access and Support

As OFWs who are working full-time jobs, sometimes physically going to the bank can be a hassle. Gone are the days when you always have to file leaves, rush to the bank after your shift, or wait for business days to send remittances. Anywhere and anytime you can access the BCRemit app for your financial transfer needs.

Additionally, BCRemit also ensures you have access to support around the clock with our 24/7 customer service. Our dedicated and highly trained team is always ready to assist you, making sure your remittance experience is smooth and hassle-free. Whether you need help with a transaction or have questions about our services, you can reach us through various channels, including live chat, phone, and email. This multi-channel support ensures you get timely assistance whenever you need it.

Simplify Your Money Transfers to the Philippines with BCRemit

Money transfers have never been easier with the advent of online services. If you are an OFW from the US and the UK seeking a convenient and efficient way to send remittances to your family in the Philippines, BCRemit is the ideal solution. Our user-friendly platform offers low fees, competitive exchange rates, and strong security features, making it simpler than ever to manage your transfers from anywhere, at any time.

With BCRemit, you can enjoy the peace of mind that comes with knowing your hard-earned money reaches your loved ones quickly and securely. Streamline your international money transfers or remittance process today and experience the ease of sending money with BCRemit.