# Best method to Send $50K from Australia



## Tiz (Jan 23, 2016)

Hi Folks,

I want to transfer AUD 50,000 to the Philippines from Australia.

Has anyone already done this and researched the best way to do it?

I have bank accounts with Commonwealth Bank in Aus and Citibank here in Philippines.


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## Asian Spirit (Mar 1, 2010)

Tiz said:


> Hi Folks,
> 
> I want to transfer AUD 50,000 to the Philippines from Australia.
> 
> ...


For sending only $50 I would simply use Western Union. They have branches on every other corner in the Philippines. Once sent, the money is available within just 15 minutes.


Jet Lag


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## Tiz (Jan 23, 2016)

It's $50,000


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## JRB__NW (Apr 8, 2015)

Probably a wire transfer from your account there to your account here. However every bank is different. My primary bank in the US refused to wire more than $3000 per day to Philippines when I was buying a car and needed cash. It sucked. That just happens to be their limit, for Philippines, whether wire transfer or express send to my gf's account. I think if you bank with one of the large international banks with branches in both locations, like HSBC, and you have an account in your name in each country, it would be a lot easier. Just do an account to account transfer.


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## Asian Spirit (Mar 1, 2010)

Tiz said:


> It's $50,000


Ah okay, Guess I misread the post. In that case it is probably best to wait for someone from Oz to reply that has done this before.
Either that or visit with your own bank and see what they offer.


Jet


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## DonAndAbby (Jan 7, 2013)

You probably have two options. In either case, you should have a AUD account in the Philippines. Otherwise, you are going to let your banks do the exchange to pesos and it probably would not be favorable to you.

1. If you have time and an AU checking account and are in PH, you can write yourself a check and deposit it in your PH AUD account. Time to clear will depend on the bank, but most are 20-30 days. Takes longer but no fees.

2. Wire transfer is more expensive but fast. Your AU bank will charge you and your PH bank will have a smaller charge. Allow a day or 2 for the new recipient to be approved and then the transfer will be fast. You can probably do this all online at your AU bank.

My U.S. bank limits my wire transfers to 25,000 per day. You might have to make more than one transfer and you will be charged the fees each time.


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## Aussie11 (Feb 15, 2016)

Tiz said:


> Hi Folks,
> 
> I want to transfer AUD 50,000 to the Philippines from Australia.
> 
> ...



Maybe Try talking to citibank here in Aus.
i think i read somewhere what you can have a citibank account in Aus and in PH and transfer between the two. i know i will be looking at that when i plan to move in my 5 yr plan


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## Danman (Mar 23, 2016)

I used to transfer money online from my bank in Australia to my bank here in the Philippines, I set it all up while I was still living in Australia. But now I transfer my money online every fortnight bank to bank with a company called "TransferWise"


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## Tiz (Jan 23, 2016)

I just compared Citibank v Transferwise exchange rates.

If I transfer AUD50,000 then TW rate gives me PHP 45805 more than Citi.

So definately a better option.... Only problem is there's a limit of PHP480,000 so I'd need to perform multiple transfers, but PHP 45K is better in my pocket than Citi's.


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## time2trvl (Apr 12, 2016)

I'm not in the Philippines yet but I was researching this a few months ago and saw many different discussions. I saw one that really looked to accomplish the goal with little or no fees and was quick.
I have monthly income deposited to my US bank. I don't want to change my check to bank to one there at this time. So I will want to transfer from my US bank to a bank there monthly (once I move and get an account). 
If some one has more/better info about this, or has found a problem with it, please let me know.
The best process I've seen was Paypal. I have paypal setup with my US account. When I get there I get a US dollar bank account, another Paypal account and just use one paypal to pay the other.
Please let me know if there is some reason this will not work. I have already checked with Paypal and being that the 2 separate Paypal accounts are in separate countries, they said it does not violate their T&C's.


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## Gary D (Oct 28, 2013)

time2trvl said:


> I'm not in the Philippines yet but I was researching this a few months ago and saw many different discussions. I saw one that really looked to accomplish the goal with little or no fees and was quick.
> I have monthly income deposited to my US bank. I don't want to change my check to bank to one there at this time. So I will want to transfer from my US bank to a bank there monthly (once I move and get an account).
> If some one has more/better info about this, or has found a problem with it, please let me know.
> The best process I've seen was Paypal. I have paypal setup with my US account. When I get there I get a US dollar bank account, another Paypal account and just use one paypal to pay the other.
> Please let me know if there is some reason this will not work. I have already checked with Paypal and being that the 2 separate Paypal accounts are in separate countries, they said it does not violate their T&C's.


Paypal fees are around 3% depending on how much you send. That is ouch.


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## DonAndAbby (Jan 7, 2013)

time2trvl said:


> I'm not in the Philippines yet but I was researching this a few months ago and saw many different discussions. I saw one that really looked to accomplish the goal with little or no fees and was quick.
> I have monthly income deposited to my US bank. I don't want to change my check to bank to one there at this time. So I will want to transfer from my US bank to a bank there monthly (once I move and get an account).
> If some one has more/better info about this, or has found a problem with it, please let me know.
> The best process I've seen was Paypal. I have paypal setup with my US account. When I get there I get a US dollar bank account, another Paypal account and just use one paypal to pay the other.
> Please let me know if there is some reason this will not work. I have already checked with Paypal and being that the 2 separate Paypal accounts are in separate countries, they said it does not violate their T&C's.


What many in your situation do is write themselves a check once a month and deposit it in their Philippines dollar account. The checks take 20-30 days to clear so you are always one month behind, but once you have the rhythm going, you should not even notice. This is the only system with no fees unless you physically transport cash.

Any business that offers a transfer service is going to take a cut, one way or another. They are not charities.


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