Send Money From India To Philippines in Just 5 Steps

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Send Money From India To Philippines in Just 5
Steps

• Advanced online remittance platforms have
  streamlined the overseas transaction process in
  recent times. Just a few simple steps with
  minimal formalities, and you can instantly send
  money from India to the Philippines at a minimum
  transaction fee and live foreign exchange rates.
• The movement of people from India to other
  foreign countries, such as Canada, the USA, the
  UK, New Zealand, Germany, and other European
  nations has remained steady for the past few
  decades. Other than traveling abroad for a fresh
  start and to pursue higher education,
  vacationing in foreign destinations has become a
  trend as well. Frequent transcending of the
  border has accelerated the movement of money
  overseas as well. While the USA and UK still
  stand as the top countries for cross-border
  remittances in India, South-Asian nations like
  the Philippines is not much behind.
• In recent years, a trend has emerged among Indian
  students to travel to the Philippines for higher
  education, especially to get an MBBS degree. The
  country is also one of the top tourist
  destinations for Indians, considering the
  affordable tour packages and flight fare. All of
  that culminates in a substantial amount of
  cross-border payments and transactions between
  India and the Philippines almost regularly for
  diverse reasons. But how does one send money from
  India to the Philippines?
• Send Money India to the Philippines Cross Border
  Remittance
• Multiple methods are being used by people to send
  money to the Philippines for personal, business,
  or travel reasons. Here are a few options to try
• Here are a few options to try
• Online Remittance Platforms

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• Online remittance platforms like the leading
  RemitOnTime, specifically process overseas
  transactions at an affordable transaction fee and
  competitive exchange rates. These platforms are
  secured by sophisticated encryptions with
  advanced mechanisms that process the payment any
  time anywhere in an instant, with minimal risk of
  transaction failure.
• Wire Transfer
• A wire transfer or SWIFT (Society for Worldwide
  Interbank Financial Telecommunication) is one of
  the most convenient ways of sending money from
  India to the Philippines or any country. Wire
  transfers might be hailed as a safe method, but
  it might take up to 24 hrs for the transaction
  to process and reflect in the recipients
  account. The downsides of SWIFT transactions are
  the imminent risk of transaction failure and the
  high charges levied against each transaction.
• Demand Draft
• One of the oldest and simplest ways to send money
  abroad is the practice of demand draft has
  somewhat lost its popularity with the increased
  use of SWIFT and remittance platforms.
  Nevertheless, it is still quite effective in
  cross-border processing funds. The sender from
  India has to fill-up a demand draft form with all
  details about the transaction. Post-receiving,
  the recipient can encash the draft or get the
  amount transferred to his/her account through
  the bank. However, it being a time taking
  process is the only downside of demand draft.
• E-Cheque
• E-Cheque can be sent to people outside of the
  country with an international bank account. One
  has to fill-up a form via the online portal of a
  bank, and the money gets transferred in 5-7
  business days.
• Considering all the options that a person
  residing in India has to transfer funds in the
  Philippines, the outward remittance platforms
  seem to be the most convenient option, owing to
  their simplicity. We will further elaborate on
  the money transfer process below, keeping
  RemitOnTime a reference to illustrate the
  mechanism.
• Funds Transfer From India To Philippines through
  Digital Remittance Platform

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Step 1 The user has to register/sign-up at
RemitOnTime, an intuitive outward remittance
platform for cross-border transactions. Step
2 Post-registration, the user has to provide the
essential details, without which the transactions
cannot be processed. Step 3 The user has to
complete the KYC and AML formalities by
furnishing ID proof and other necessary
documents. RemitOnTime requires minimal
documentation, saving the user from the hassle
of extensive KYC processes. Step 4 In this
stage, the user has to add the name and details
of the beneficiary/recipient residing in the
Philippines. Step 5 The user can initiate funds
transfer after checking the live foreign exchange
rate of INR to Peso and the transaction fee (the
lowest charges in the industry). The enhanced
security and overall architecture of the
platform ensure that the amount reaches the
beneficiary fast and safely. Digital remittance
platforms like RemitOnTime, have emerged as an
affordable and less time- consuming alternative
to traditional methods, with more people availing
the services to experience a convenient and
seamless transaction.