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Managing your virtual staff

What’s the Cheapest Way to Send Money to the Philippines?

You already found an awesome Virtual Assistant in the Philippines, Everything is almost set up but there’s something missing.

Yeah, you almost forgot, you need to set up a payment gateway for compensation.

But then you wonder how?

You thought about bank transfer but WAIT. Exchange rates are way too high and might cut-cost with your labor fee. Aside from it you hesitant with its credibility

What can be an alternative option to decrease these charges and make sure it is secure?

If you are having a hard time looking for the easiest way to send money over the Philippines. This will be your walkthrough guide.

Transfer Wise

On top of the list is TransferWise - an online cash transfer, which lets you move cash to multiple times more inexpensively than with a bank.

It avoids expensive global installments in total by utilizing two nearby exchanges rather than international exchange.

Getting things this way infers that you can keep up a key good ways from standard money related charges totally and won’t lose money by moving at an off the mark rate.

For example, to send cash in GBP to The Philippines, you pay a little, level charge of 0.59 GBP + 0.48% of the sum that is changed over time. Furthermore, handling may just take around 1-2 business days.

Payoneer

Commonly used Payoneer is an online installment supplier that permits you to send and get installments to and from commercial centers and businesses in different nations around the globe.

 As their services are focused on entrepreneurs, marketplace, and organization.

They give direct installment arrangements, money transformations, incorporations and ways you’re your organization to pay your employees, contractual and contract workers.

Opening an account is free and if you are a small business owner planning to pay your Filipino staff at a competitive rate for paying this can be your go-getter.

Payoneer fees when making a payment;

  • Credit Card : 3%
  • Local Bank Transfer : 1%
  • Electronic Check: 1%

Paypal

It is not the cheapest transfer option but Paypal is considered as one of the most secure and easiest ways to send money over the Philippines.

But how will this work with your business?         

PayPal clients can immediately move cash to them with only a tick of the mouse. Set aside time and cash over expensive Western Union-style moves while getting cash to where you wish to send it quicker than at any other time.

It is highly notified with top secure features, making sure that your money transfer will not be a subject of exploitation throughout the web.

As part, PayPal has a wide range of integration to almost all commercial and finance sectors here in the Philippines. Making it the trusted money transfer so far.

Using PayPal is free, but fees are included which can take around 2.5% - 4% depending on what method you use within 3- 5 business days of remittance.

Whenever sending cash to your Filipino Virtual Staff, always take note of these few awesome services.

Additionally, don’t forget to take action and pay your VA on time as this keeps motivation and the relationship of trustworthiness in touch.

Wherever you are around the world, there is limitless ways to send money across the web, stick to what suits you best and maintain consistency when it comes to compensating.

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By: Kyle Daling

VirtualStaff.ph Contributer