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Tips for Sending Remittances

You can follow the below mentioned tips for sending remittances. These tips allow you to manage your remittances efficiently. As a domestic helper, you should try to arrange for remittance before you leave and get to the work place.

(1) You should open up two bank accounts before you leave the country. One bank account should be used for yourself and other one for your beneficiary. Ensure that the branch of your bank is nearest to your beneficiary. Also, you can also select the bank that gives you the fastest remittance service and charges you with reasonable rates.

(2) When you are abroad, you should send money to both your beneficiary’s account and your own account. Keep your account as your savings account.

Tips for Sending Remittances (3) You should select that bank which is nearest to your location and ensure that it has branches in overseas location. You can open an account as soon as you get your salary. You can also open two accounts in the foreign country. One sho

uld be used for the sending remittances and other one for handling your personal expenses. You can select the savings account that has higher interest rate.

(4)Plan your remittance well in advance. You should try to program your remittance practice and make schedule for it. The sending of remittance via bank costs money for both the sender and receiver. Therefore you may send money quarterly in place of monthly if possible to make more savings on sending remittances. You can do so by consulting with your beneficiary as they are the ones who would be needing money to survive for the monthly or quarterly period.

(5) You should ensure that you have all the documents ready in place for sending remittances. The Identification cards accepted by banks include Passport, Driver’s License, Voter’s ID, Office ID,

SSS/GSIS ID

(6) Do research in alternative remittance technologies or methods available. You can send money today by using a wide range of options available. You should do research about it as you can now send money quickly via Electronic cash, Electronic ATM card, and Internet.

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