ACE Money Transfer - Blog

Send money to Philippines online through ACE Money Transfer

The Role Of ACE Money Transfer In Facilitating Secure Remittance Transfers To The Philippines

10 Jan 2024


Of the several online money transfer service providers, including the banks, only a handful of service providers take care of all the concerns you have about online money transfers, including the safety of funds.

Security of funds in the wake of rising virtual financial frauds is one of the basic concerns of the migrants of the Philippines, who reside in different countries to earn a living and send money to Philippines to offer financial support to their families.

Almost all the migrants in the world, who were 281 million in 2020, accounting for 3.60% of the then-total global population, according to a report by the IOM UN Migration, attach due consideration to the safety of funds when it comes to online money transfers.

It is where some service providers are set apart from the rest.

These service providers, including ACE Money Transfer, not only offer safety, but their service features are so diverse that they facilitate the flow of remittances to the concerned countries in unique ways.

On realizing this, the Filipino migrants have been sending money to the Philippines from abroad back home with ACE Money Transfer and have been getting innumerable benefits alongside the safety of their funds.

This blog will shed light on how ACE Money Transfer is ensuring secure online money transfers to the Philippines from abroad.

Why Is Safety In Online Money Transfer So Important For Filipino Workers?

Well, the reasons are many, with the prime ones discussed below.

Need-Based Migration

A report by the Pilot Guides said that about 10 million Filipino migrants work abroad. It is roughly 10% of the country’s total population and is one of the largest diaspora communities worldwide.

Almost all of these migrants belonging to the Philippines travel abroad to earn a living as they cannot manage a financially decent living within the limited means they have in their native country.

Their focus during their stay abroad is on earning as much money as possible so that they can save and send more in their money transfer to Philippines, each time they intend to offer financial support back home.

It is due to their need-driven migration that they attach importance to the safety of their funds.

Online Financial Frauds

The incidence of financial fraud worldwide is rising rapidly. As technology is growing, so are the methods of crime. Criminals are finding newer ways of deceit. Their modus operandi is going beyond the conventional methods that you are mostly aware of, including identity theft, phishing, etc.

Apart from this, the margin of fraud that exists in the global remittance transfer service industry is also a big concern that makes Filipino migrant workers conscious of the safety of their funds.

Click here to learn more about ensuring safety in your online money transfers.

The Economy And Inward Remittances Of The Philippines

  • A World Bank report said that the Philippines had a nominal Gross Domestic Product (GDP) of $394.09 in 2021.
  • Another report by the World Bank said that the GDP per capita income in the Philippines in 2021 was $3,460.5.
  • A report by Statista said that the volume of inward remittances to the Philippines during the first 11 months of 2022 was $29.38 billion.

Although the economic figures may point to an economy that is faring better relatively than other countries in the region, the remittances it receives are low.

Remittances serve almost all developing economies as a lifeline. It will be a worry for any country if the volume of inward remittances is low and this is the case with the Philippines.

Despite having around 10 million migrants abroad, who send money to Philippines online, the volume of inward remittances is low in proportion to the country’s total migrants abroad.

Let’s now see how ACE Money Transfer is facilitating secure money transfers to the Philippines from abroad.

Ways In Which ACE Money Transfer Is Ensuring Safe Online Money Transfers

The following is how the company ensures safety in online money transfers to the Philippines or elsewhere, for that matter.

End-To-End Encrypted Transactions

Your transfers with ACE Money Transfers are encrypted end-to-end, like communication on different digital platforms. Due to this, scammers cannot break into the process.

Multi-Layered Security

The company uses multi-layered security, unlike many other service providers who rely heavily on a single layer of security, due to which the incidence of security breaches is high.

Liaison With Credible Financial Institutions

If you notice, many companies liaise with institutions with dubious credentials. Professional liaison is essential. Because for the processing and collection of funds, a company has to partner with other institutions to facilitate customers. But ACE Money Transfer always ensures to partner with services that are credible and reputable.

Speed In Transfers

The margin for fraud will be less in service if it delivers funds in a matter of minutes and seconds, as is the case with ACE Money Transfer. Delays or a long time to complete a transfer can give a chance to scammers to strike.

Care On Your Part

No matter how tough a company’s security parameters are, if you are careless while sending money online, the security of your funds cannot be guaranteed.

It is, therefore, essential to be aware of the following few points.

  • Never use a public and open Wi-Fi;
  • Enter details with care and check again and again;
  • Know about the modus operandi of financial scammers;
  • Know the types of financial fraud;
  • Send money to those you know only;
  • Avoid sharing your sensitive data with others, no matter what;
  • Keep your devices protected with unique and awkward passwords;
  • Never transfer funds in haste;
  • Always use reliable antivirus software and keep it updated;
  • Keep away from unreliable platforms, no matter how rosy they appear.

Following these tips will ensure the optimal security of your funds.

ACE Money Transfer – Tight Security And Innumerable Benefits Together

Online money transfer to Philippines with ACE Money Transfer will get you several benefits, including safety, speed, live and competitive currency exchange rates, wider service access in over 100 countries worldwide, and much more from just one window in exchange for low fees, which is applicable only if the amount being sent reaches a certain limit below which your transaction will likely remain free!
 

FAQs

What is ACE Money Transfer, and how does it facilitate secure remittance transfers to the Philippines?

ACE Money Transfer is a global remittance company that provides a platform for individuals to send money securely to the Philippines and other countries. They offer various transfer options, including bank deposits, cash pickups, and mobile wallet transfers, ensuring flexibility and security for their customers.
 

Are there specific security measures in place to protect remittance transfers to the Philippines through ACE Money Transfer?

Yes, ACE Money Transfer prioritizes security by employing encryption technology to safeguard customer data and financial transactions. They also comply with local and international regulations, such as anti-money laundering (AML) and know-your-customer (KYC) procedures, to prevent illicit activities.
 

What are the advantages of using ACE Money Transfer for sending remittances to the Philippines compared to other methods?

ACE Money Transfer offers competitive exchange rates and low fees for remittance transfers, ensuring that recipients receive more of the sent money. Their extensive network of payout locations and partners in the Philippines makes it convenient for beneficiaries to access funds.
 

How can customers initiate a remittance transfer to the Philippines through ACE Money Transfer?

Customers can initiate a transfer by visiting the ACE Money Transfer website or using their mobile app. They need to provide the necessary details, including the recipient's information and the desired payout method. Verification steps, including identity confirmation, may be required for security purposes.
 

What customer support and assistance options are available for users of ACE Money Transfer's services in the Philippines?

ACE Money Transfer provides customer support through various channels, including phone, email, and live chat on their website or mobile app. Customers can seek assistance with their transfers, inquire about exchange rates, or get help with any issues they may encounter during the process.


News

PREVNEXT
Which Method Should You Choose to Send Money to Zambia from Abroad?
What are the Most Growing Online Threats, and How to Avoid Them?

Comments

  • Categories
  • Country