Wells Fargo, the fourth largest U.S. bank in assets, has entered the remittance business,
and if you’re in the U.S., you can try using this to send money to your family or recipient in the Philippines if it’s really the cheapest way for U.S.-Philippine remittance.
At the website of the WorldBank, its chart ranks Wells Fargo as charging among the lowest total remittance cost, which refer to transfer cost plus foreign exchange cost.
Wells Fargo says that its remittance fee is only:
- $7 if cash
- $5 if from a Wells Fargo bank account.
You can send money for pick-up or deposit at any branch of the following:
- Bank of the Philippine Islands (BPI)
- Banco de Oro (BDO)
- M Lhuillier — (cash pickup only)
Other advantages of using this service to send money:
- No enrollment fee or no yearly or monthly maintenance fee
- No service fee to be paid by your recipient
- Competitive exchange rate
- Maximum amount you can send is $3,000 per day for BDO and BPI remittances and $1,000 for M Lhuillier remittance.
- You can get a discount if you’re sending from a Wells Fargo checking account
Wells Fargo ExpressSend service hotline for sending: 1-800-869-3557
hotline for more information: 1–800–556–0605
BDO Correspondent Banks for Sending Money to the Philippines
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