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Payout options to choose from when sending money to the Philippines

One of the most significant components of the Philippines’ economy is remittances, as statistics indicate it’s consistently among the top five countries Filipinos send money to every year.

Because remittances are so vital to the country and its people, Xoom has tried to make it as easy as possible for you to send a money transfer to one of several financial institutions that operate there.

1. Banco De Oro. As with the previous banks, BDO also offers cash pickup, and because you’ll find it in many of the country’s malls, your friends and loved ones may be able to stop there to pick up their money while shopping.

2. M. Lhullier. If you’re from the Philippines, you’re likely very familiar with this financial institution, as there are over 1,000 branches located throughout the country. And because most locations are open on nights and weekends, choosing M. Lhullier as a pickup destination is a great idea.

3. Cebuana Lhuillier. Xoom also partnets with Cebuana Lhuillier. The pawnshop chain offers convenient 24-hour pickup locations across the country. Its many branches services more than 30,000 clients daily.

4. Philippine National Bank. While Filipinos have a variety of remittance service providers to choose from, PNB recommends Xoom, as online transfer transactions are completed in minutes. PNB’s endorsement of Xoom is significant, as it’s one of the country’s largest banks and boasts a variety of banking products. You can also send money for cash pickup.

5. Bank of the Philippine Islands. This bank has stood the test of time, as it was established more than 150 years ago and was the first one located in all of Southeast Asia. Xoom customers will understand why it’s lasted so long, as deposits are ready in just a few hours, or you can choose cash pickup.

6. Metrobank. Xoom users can also send money to their relatives via Metrobank. Deposits can be made in hours, without you needing to leave the comfort of your own home.

7. SM Malls – You also have the option to send money to one of 30 SM Forex locations at SM Malls. Xoom has a complete list of these locations across the country.

These are just some of the 9,751 branches that serve the Philippines. You can also send money through door-to-door delivery to most provinces in one to two business days.

Regardless of the method, Xoom is confident you’ll find the one that best fits you and your family’s needs.

Read more from E. Asia, Money Transfer

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