Author Topic: Best Exchange Rates  (Read 11623 times)

Offline Art, just a re(tired) Fil-Am

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Re: Best Exchange Rates
« Reply #15 on: March 27, 2013, 01:25:10 AM »
First noticeable increase I've seen in a while, just the other day it was at P40.60 something to the dollar!
1.00   USD   = 41.0500   PHP (rate as of 2013-03-26 16:00:02 UTC)   
http://www.xe.com/?r=6&c=PHP
http://www.tititudorancea.com/z/usd_to_php_exchange_rates_dollar_philippine_peso.htm
« Last Edit: March 27, 2013, 01:32:40 AM by Art2ro »
"Life is what we all make it to be"!
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Offline privateeyepi

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Re: Best Exchange Rates
« Reply #16 on: March 27, 2013, 05:19:22 AM »
@Rudylazo

Where did you get your figures? I can send $2950 through Xoom (in dollars, not pesos) and the cost is only around $24. How did you get $71???? Must be new math.

I do know that if you send that money in Pesos, the terrible exchange rate that Xoom gives will make the transaction cost a lot more. But even with that, I think the total cost of transfer would only be around $60.

Now, if you send money using your credit card (sort of like, advanced cash), the fee is much higher. For $2950, using a credit card to pay, the cost would be about $65 for sending dollars. They charge extra because the credit card companies charge the merchants somewhere around 2 or 3 percent, I believe.

Offline Art, just a re(tired) Fil-Am

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Re: Best Exchange Rates
« Reply #17 on: March 27, 2013, 03:01:19 PM »
I'm not good at math either, but there are a few on here that have used xoom for 7 to 8 yrs! 
So, what does that all amount to in total for every month in the 7 to 8 years of paying those xoom money remittance transaction fees? 
Well, it's all about each to their own finances what they are comfortable with! ;)
« Last Edit: March 27, 2013, 09:13:11 PM by Art2ro »
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline bigrod

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Re: Best Exchange Rates
« Reply #18 on: March 27, 2013, 04:58:42 PM »
Just looked at Xoom rates if I send $2999 it equals 119,960 php being sent at 40 php per dollar, todays rate is 41.04 approx so I lost 2999 php minimum on the transfer plus $4.99 from a bank account or $9.99 from credit/debit card. 2999 php converts to $73.15 lost on conversion at 41 php to $1 plus either $4.99 or $9.99 added.  Sending in Dollars is $2999 plus $15.99 bank account or $65.99 credit/debit card.  You can do the math.

Chuck
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Offline privateeyepi

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Re: Best Exchange Rates
« Reply #19 on: March 28, 2013, 06:27:07 PM »
@big rod

You are correct that sending large amounts already converted to pesos is not the ideal way to send, because of the lousy exchange. However, you can't use today's rate money rate as published, to compare. No money changer or other business will give you that rate. Normally you would get something around 20 centavos less, so that is where my $60 fee came from, rather than $73.

As I stated before, if you send the money in dollars (which is the smart way), the fee is only $16, which is also what you stated. Then you can convert at your favorite money changer. The fee has actually decreased for sending dollars. It used to be $24 to send $2999, now it appears to only be $16.

Offline bigrod

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Re: Best Exchange Rates
« Reply #20 on: March 28, 2013, 07:43:42 PM »
I can not get the published rate here in General Trias but I have always got the published rate or within 1 or 2 centavos when changing in Manila.

Chuck
Life is  to short not to live it right the first time

Offline wildbill

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Re: Best Exchange Rates
« Reply #21 on: March 28, 2013, 10:17:49 PM »
Topic is  Best Exchange Rates--I always get what ever the ATM is offering all my money is tied to ATM esp because I ran out of checks here  :'(

Offline Rudylazo

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Re: Best Exchange Rates
« Reply #22 on: July 14, 2013, 02:12:58 PM »
$71 charge plus the difference between what they pay you and the actual exchange rate.
That is what u pay when you want the money to hit you Local bank in a few minutes.
I heard Metro bank have no charge when you deposit a US or EU check to your $ account
though you have to wait because they put a hold of 4 weeks before you can use the money. You are ahead 2 to 3 % if you have time to wait 4 weeks. It's your money so enjoy it how you want to.

Offline wildbill

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Re: Best Exchange Rates
« Reply #23 on: July 14, 2013, 08:47:19 PM »
I have two accounts with the same US Bank I use here and two ATM cards  they have free online Banking I can transfer money between the two accounts then you get 4 free ATMs withdrawals a month from each account so I dont need to write checks anymore I closed my philippine bank acconts maybe some one here does it better but for now im content.
« Last Edit: July 14, 2013, 08:51:41 PM by wildbill »

Offline Art, just a re(tired) Fil-Am

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Re: Best Exchange Rates
« Reply #24 on: August 13, 2013, 10:38:51 AM »
The Forex Exchange rate is looking pretty good today sitting at P43.90
The only problem I have now or it just may be a coincident that my bank's
website is down for some reason, saying "This webpage is not available" Reload"! 
Tried reloading several times to no avail! Now I'll have to go to my bank today, get the
form to convert my dollars and get in line and wait to do my transaction with the
bank teller! ???  >:(
« Last Edit: August 13, 2013, 11:38:19 AM by Art, re(tired) Fil/Am »
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline BudM

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Re: Best Exchange Rates
« Reply #25 on: August 13, 2013, 02:25:40 PM »
The Forex Exchange rate is looking pretty good today sitting at P43.90
The only problem I have now or it just may be a coincident that my bank's
website is down for some reason, saying "This webpage is not available" Reload"! 
Tried reloading several times to no avail! Now I'll have to go to my bank today, get the
form to convert my dollars and get in line and wait to do my transaction with the
bank teller! ???  >:(

Right at this moment, mine is showing 43.500 and 44 flat.  Apparently, from what I have seen, I can not do any transfers between my accounts online unless they are of the same currency so I would have to go to the bank anyway.
Whatever floats your boat.

Offline Lee2

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Re: Best Exchange Rates
« Reply #26 on: August 13, 2013, 07:39:03 PM »
BPI has online conversion from dollars to pesos and that is an important reason why we like BPI but I have only had accounts with a few different Philippine banks and none of them had online conversions, so there may be others out there who do. BPI only allows conversions during banking hours from 9:30 am to I believe 3:30 pm Philippines time and their website is overloaded at times, I think maybe they have outgrown their server.

Art when that happens, sometimes when I try a different browser, then for some crazy reason it goes through, possibly coincidence.
« Last Edit: August 13, 2013, 08:47:08 PM by Gray Wolf »
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Offline Art, just a re(tired) Fil-Am

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Re: Best Exchange Rates
« Reply #27 on: August 13, 2013, 10:13:36 PM »
Art when that happens, sometimes when I try a different browser, then for some crazy reason it goes through, possibly coincidence.
Yeah, I tried all of my other browsers, but the same thing happened, "website unavailable"! When I went to my bank, even the teller's system was off line so no transactions could be done over the counter other than their ATM outside which I was able to withdraw cash from my peso and dollar account. When we got home later in the day after 3:30pm, my bank's website was working normally, but was too late to convert my dollars to pesos on line! Will try again tomorrow! 
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline BudM

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Re: Best Exchange Rates
« Reply #28 on: August 13, 2013, 11:30:31 PM »
I am stuck with BDO for now, and so far I am happy with it and the customer service they provide is outstanding.  The only thing I seem to be missing is the peso to dollar online transfers. Everything else works fine online.  That is probably all for me as far as bank accounts unless I hit the lottery which now a days I do play three times a week.  Besides the PRA bank holding my time deposit, I have two institutions in the U.S. with four accounts and one other institution here with two accounts.  For as little money as I have, I sure spend too much time trying to keep up with where it is at with it spread out like that.  So, I just also need to find a little time in my day once in a while to squeeze in a trip to the bank for conversion.
Whatever floats your boat.

Offline wildbill

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Re: Best Exchange Rates
« Reply #29 on: August 14, 2013, 07:01:27 AM »
Budman if your play the lotto here my wife says you cant not collect on it only Philippine citizen may collect I have done no research to say its for sure me to I would love to know the answer.

 


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