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.
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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