22 Aug 2023
Did you know that 310,620 Filipinos are thriving in the diverse land of Australia? The journey of building a new life far away from home is marked by numerous milestones for Filipino expats. Being able to send money to Philippines from Australia holds an important meaning as it signifies your financial success. However, no matter how much you earn, it is still important to look for ways to save.
This blog explores all the mind-blowing ways to transform the way Filipino expats living in Australia send money to their loved ones. The main emphasis is on the exchange rates because the right strategy in dealing with exchange rates will help you make the most out of your money transfers.
Long gone are the days when you had to wait in long queues and wait for hours to initiate your cross-border transactions. Recent technological advancements have changed global trends and given dominance to online culture.
The remittance provider industry has revolutionised the way money is sent across borders. There is a plethora of options for ex-pats to choose from that go beyond traditional methods. One such method is online money transfer. The online service is not only swift and cost-effective, but it is also quite safe to use. This method eliminates the need for burdensome paperwork and lengthy processing times.
ACE Money Transfer takes the lead and stands out within this technological landscape. It has been operating for two decades and specialises in providing convenient and cost-effective money transfer services to expat communities. Filipino expats can utilise this service for a seamless experience. One of the best advantages of using ACE is that it provides the highest exchange rates that ensure that hard earned money of expats reaches their families with maximum value.
Exchange rates are pivotal as they can heavily impact the value of money that you send back home. These rates are the determining factors when it comes to currency exchange. It is important to understand that several factors influence these rates, which include economic indicators, geopolitical events, and market sentiments. You need to stay vigilant about these fluctuations so that you can make informed decisions regarding your money transfer.
Understanding the role of perfect timing is important to maximise the value of your money transfer. Filipino expats can benefit heavily from favourable exchange rates if they strategically plan their transfer. It is recommended that you wait for opportune moments if you want substantial savings. ACE Money Transfer can help Filipino expats living in Australia optimise their remittances through real-time exchange rate information to make well-timed transfers.
Australia to Philippines money transfer can reach its maximum value if you trade currencies with high exchange rates. Here are some valuable tips to help you score high exchange rates.
Take your time in deciding which service you want to use. Remember, exchange rates vary across different providers. That is why it is important to do your research and find the best option for you. ACE Money Transfer provides market-competitive exchange rates with no added self-profits to promote legal remittance channels and let the expat community can thrive.
Banks often offer poor exchange rates that can lower the value of your money transfer. In addition to that, banks also charge hefty fees for international transactions, so it’s usually not the best option.
Make sure to select a provider that is properly registered and regulated in both the Philippines and Australia so that you do not become a victim of scams and fraud.
You might get the best exchange rates and fees from one provider, but it may not fulfil your entire criteria. Also, consider other factors such as speed and payment options for optimum convenience.
The process of sending remittances from Australia to the Philippines has constantly evolved. Today, it is moving away from traditional methods to embrace modern technology with strategic planning to maximise the value of remittance. By keeping the extra focus on exchange rates, Filipino expats can see that their hard-earned money makes a significant impact on the lives of their loved ones back home.
ACE Money Transfer is a reliable partner that offers the highest exchange rates possible. Sign up on ACE today to enjoy the benefits of global transfers and get your first free online money transfer to Philippines from Australia or other countries via ACE’s remittance solutions.
How does ACE Money Transfer ensure security for online money transfers?
ACE Money Transfer uses advanced encryption and security measures to safeguard your transactions and protect you from scams.
Can I track exchange rate trends on ACE Money Transfer's platform?
Absolutely! ACE Money Transfer provides real-time exchange rate information to help you save money through informed decisions.
Are there any hidden fees associated with using ACE Money Transfer?
ACE Money Transfer is a firm believer in transparency. There are no hidden or receiving charges at all if you choose ACE to remit money.
How can I easily monitor exchange rate fluctuations?
It is advised to consult financial news sources and market analysis tools to stay informed about currency movements.
What happens if an exchange rate changes after I've scheduled a transfer?
ACE Money Transfer typically locks in the exchange rate at the time you initiate your transfer. Hence, your transaction is safe from subsequent rate changes.
Resources:
Australian Government - Department of Home Affairs
