Diplomatic relations between the Philippines and Indonesia began in 1949. Since then, the two countries in Southeast Asia have warm bilateral relations, both in political and economic aspects. The two countries have also established embassies in their respective capitals.
Because of the close diplomatic relations between the two, many Filipinos live or work in Indonesia and vice versa. This condition will certainly make people need a lot of information related to money remittance services in Indonesia.
Send Money Fast from Indonesia to Philippines
When searching for information about money remittance services in Indonesia, you may encounter some common problems. High transfer fees make you hesitate to send funds abroad. The average cost of sending money abroad is 6.84% or around USD 20-35 per transaction for money transfer fees from Indonesia to other countries.
Not to mention, you will also be charged a high bank rate and traditional remittance. Another problem that is often complained about when sending money abroad, especially in the Philippines, is the hidden fee. In such cases, the recipient will usually bear additional fees or transfer fees as if they are free, but the exchange rate charged is super high.
On top of that, the time for receiving funds is a common problem found in remittance services. An online remittance service is an option that is widely used today to overcome all these obstacles. However, do not choose a financial product carelessly because security is still a factor to consider. So, if you want to send money fast from Indonesia to Philippines, Transfez can be extremely useful for you.
This Indonesia's online remittance service is web-based and mobile. It is easy to use and offers a faster money transfer process. Another advantage that will make you love Transfez is that this service can reduce transfer fees by up to 80 percent. Plus, your remittances can be received in real-time in certain countries.
Banking in the Philippines
Banking in the Philippines is managed by the five major retail banks: BDO Unibank, Metrobank, Land Bank, Bank of the Philippine Islands, and Philippine National Bank. As for international banks serving this country, you will find HSBC Philippines, Deutsche Bank Philippines, ING Bank Philippines, ANZ Banking Group Philippines, and Mizuho Bank.
Additionally, ATMs are easily accessible in the cities, especially in shopping centres or banks. But still, you might find it very challenging to track one down outside the urban areas. Fortunately, there are some tools you can use to track the nearest ATM location, namely with Visa ATM locator, MasterCard ATM locator, or Amex ATM locator. Are you looking for easy access to your money overseas, especially when travelling to the Philippines? Of course, using Transfez will be a good deal.
If you have a bank account in the Philippines or know someone who does, and you need to send money fast from Indonesia to Philippines, you can transfer money between accounts using the competitive exchange rate with Transfez. On top of that, Transfez allows you to access your cash abroad at a fair price with low and transparent fees. With all the perks offered, it is not wrong to consider Transfez as one of the trusted money remittance services in Indonesia.