Filipino Abroad Remittance Corner: Fonmoney - a new way to remit to the Philippines

Fonmoney - a new way to remit to the Philippines

Today Filipinos have a wide range of methods of sending money home to the Philippines. You can use traditional ways such as Western Union or MoneyGram.

These institutions are represented around the world, but they don’t come cheap. Usually they have minimum fee for any transaction and vary from where you send money.

Fonmoney offers Filipinos an interesting alternative to send money home to their peers in the Philippines. The online service provider allows its customers to send money home by recharging a phone in the Philippines. You can either charge 300 PHP, 600 PHP and even 1000 PHP.

The advantages of Fonmoney over traditional remittance services, are that you receive the money instantly and that they charge a fee of around 10%, which is way below industry standards. Furthermore, you can load a phone without having to register or even owning a bank account or a credit card. You can pay 100% anonymously with a paysafecard, which is a online payment method that can be purchased at convenient locations around the globe. Further, you do not have to go anywhere to send money to the Philippines. All you need is an Internet connection to load a cellphone from anywhere in the world.

On Fonmoney, you can recharge the mobile operator Globe, Smart Communication and Sun Cellular.

Once the mobile load arrived the load can be shared and distributed to other cellphones or used to pay for services or goods. Smart offers a service called Pasaload that allows Smart users to send mobile load from one Smart phone to another Smart phone. Globe offers a similar service called Share-a-load for a maximum fee of 1.00 peso.

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