If you’ve never sent money abroad before, you may be wondering why some people choose to send money to the Philippines. The short answer is that it’s easier than ever before!
With Remitly, you can send money to dozens of banks quickly and easily. They even partner with cash pickup sites, which is perfect for people who don’t have a bank account. However, that doesn’t really answer why people are willing to send their money, no matter how easy it is.
Here are four reasons why some people use a money transfer service to send money to the Philippines.
They Have Friends and Family to Support Back Home
The most common reason people send money to the Philippines is to help support friends and family back home.
It isn’t uncommon for people to travel to the United States to find work, not only to support themselves, but also to support the friends and family they are leaving behind. If you’re working away from home, you may choose to send money every once in a while, or you may send money on a regular schedule. Many people choose to send money for special occasions as well, like birthdays and graduations.
They Want to Support a Child Studying in the Philippines
Saying goodbye to a child who is studying abroad can be difficult for parents. There are many ways to prepare for your child’s adventure, one of which is planning to send cash their way when they need it.
Parents, grandparents, and other family members send money to students studying in the Philippines to help pay for:
- Room and board
- Living expenses
- Textbooks
- Tuition
- Food
- And more
They Are Getting Married Abroad
One of the most exciting reasons to send money abroad is for a wedding! There are some stunning natural wonders in the Philippines that can provide any bride with a beautiful wedding backdrop. Others are simply returning home so family can be present at their nuptials.
There are plenty of people to send money to. You have to pay for the venue, the caterer, the photographer, and more, and transferring the cash is the easiest way to do it.
They Have Property in the Philippines
Having vacation property abroad is a dream of many, but that doesn’t mean finding the right property is easy. Maintaining it when you live in another country can be tricky too, but paying for it isn’t!
Wiring money is an easy way to pay a mortgage payment if you have a home in the Philippines. It’s also an easy way to pay cleaners, maintenance, and other professionals who live in the Philippines and work on your home.
If you’ve never sent money abroad, especially to the Philippines, hopefully, this list makes it clearer why it’s such a common practice. Given the number of requirements that the Philippines government has in place, it is important that one does enough research and only continue further. For instance, if you are looking for a business loan there, there are certain philgeps requirements that one must comply with. Perhaps, while sending money to your loved ones over there, all of these factors can be kept in mind.
And who knows! Maybe someday you’ll have a student in your family who studies in this country. Or, maybe you’re finally ready to make your dream of owning a vacation property a reality. Sending money to the Philippines might just become commonplace for you in the future!