USD TO PHP TODAY AND FORECAST FOR TOMORROW, WEEK AND MONTH ...

Withdrawing USD Funds from Philippine-Based Paypal Account Using TransferWise Borderless Account

This is a response to u/sgicruz*'s post:* Best way to receive USD payment into a USD savings account? I created a post since this is a bit long comparison.
If you are transferring large amounts of USD from Paypal (i.e. >USD 2,000 at a time), you are forced by Paypal to withdraw in PHP, since you cannot withdraw USD directly to Philippine-based USD accounts. Instead, you can use the TransferWise Borderless Account. The Borderless Account allows you to hold multiple currencies on the account, and also provides USD US Bank Account details (also GBP, Euro, AUD, NZD) which can receive funds via local ACH (automated clearing house). Paypal can withdraw USD funds via US ACH. (There is a verification step before being assigned bank account details: see footnote at the bottom of my post)*
For comparison, below are three scenarios:
  1. Paypal (USD) -> Local PHP Savings Account (PHP)
  2. Paypal (USD) -> TransferWise Borderless Account -> BDO USD Savings Account (USD)
  3. Paypal (USD) -> TransferWise Borderless Account -> Local PHP Savings Account (PHP)
---------------------------
1. Paypal -> (Withdraw to PHP Bank Account) -> Local PHP Savings Account
Associated fees (sample computation for USD 2,000):
Total fees: PHP 200 (for USD 2,000 sample computation)
(Note: if you use GCash, I think total fee is always PHP 0, subject to wallet and transaction limits)
Exchange Rate (sample for May 8, 2020): 1 USD => PHP 48.9414
Net PHP received thru bank: PHP 97,682.70 (BDO) or PHP 97,882.70 (GCash)
Paypal's PHP-USD buy/sell spread is horrendous at around ~3.0-3.5% compared to the mid-market rate. But this is still a valid option if (1) you are withdrawing small amounts, or (2) you need instant access to cash.
---------------------------
2. Paypal -> (Withdraw to US Bank Account) -> TransferWise Borderless Account -> (Send USD via SWIFT) -> BDO USD Savings Account
Associated fees (sample computation for USD 2,000):
Total fees: 59.60 USD
Net USD received thru bank: USD 1940.40
If your ultimate goal is to get the funds in PHP, we can try exchanging the USD to PHP via BDO
Exchange Rate (sample for May 8, 2020): 1 USD => PHP 50.0000 (BDO USD Buy rates)
Net PHP received thru bank: PHP 97,020.00
There are a lot of fixed fees, so this will only be economical for large amounts of USD (probably >USD 3,000). In addition, BDO's PHP-USD buy/sell spread is around ~0.5-1.0% compared to the mid-market rate.
Paypal withdrawal to US bank account takes around 1-2 banking days, while SWIFT transfers take around 1-5 banking days.
---------------------------
An alternative is to send PHP directly from TransferWise. This is cheaper than Paypal or even the USD route described above. This is because TransferWise's exchange rate uses the mid-market rate, and they have transparent fees. In addition, TransferWise -> Local PHP Savings Account settles in minutes, as opposed to the SWIFT USD transfer above (which can take anywhere from 2-5 banking days).
3. Paypal -> (Withdraw to US Bank Account) -> TransferWise Borderless Account -> (Send PHP via ACH [this means Bancnet]) -> Local PHP Savings Account
Associated fees (sample computation for USD 2,000):
Total fees: USD 47.01
Net USD for conversion: USD 1952.99
Exchange Rate (sample for May 8, 2020): 1 USD => 50.4800 PHP
Net PHP received thru bank: PHP 98,586.93
Paypal withdrawal to US bank account takes around 1-2 banking days, while TransferWise USD-PHP ACH (Bancnet) settles in minutes.
---------------------------
*To receive your own USD bank account details, you're required to "Add Money" at least GBP 20 or its equivalent (maybe USD 25). This is their verification requirement. I recommend adding money using Visa/Mastercard Debit Card: TransferWise has around 4.5% fees for the Debit Card Add Money option, so it's going to cost around ~PHP 60 in fees. I recommend using CIMB ATM card if you have, since they currently (as of May 8, 2020) do not charge forex conversion fees. If not, any Visa/Mastercard debit card will do (including BDO Visa ATM cards).
---------------------------
TLDR;
For relatively small amounts, withdraw directly from Paypal to PHP bank account. Best choice is Paypal -> GCash (no inward remittance fee).
For larger amounts, withdraw USD from Paypal to TransferWise Borderless Account, then send PHP via ACH (Bancnet) to Philippine PHP Savings account.
But if you want to keep the amount as USD: withdraw USD from Paypal to TransferWise Borderless Account, then send USD via SWIFT to Philippine USD Savings account.
submitted by wdjose to phinvest [link] [comments]

Credit Card Foreign Txn Conversion Rates (RE: Changes to Citi's Card Agreement and sane alternatives)

2 days ago, Citi Card users were greeted with changes on their agreement effective December 1, 2019. One thing that is glaring to me is the "clarification" on converting transactions charged in foreign currencies:
For transactions in foreign currencies other than US Dollar, the amount will first be converted to US Dollar before being converted to its Philippine Peso equivalent.
I'm certain that before I left the country, I knew their 3.525% fee and there was no mention of converting from other currencies to USD, then to PHP. Whether this was intentionally done to screw their users over or not, this changed my opinion of ever using Citi Cards for Forex Txns, especially that I'm out of the country and rely on cheap exchange rates.
I have another card with BDO, it says that they have a 1%+1.25% FETF. It is not certain though that they directly convert from other currencies to PHP directly, which I will clarify tomorrow. Anecdotally, BDO and Citi has lows and highs with their FETFs, but has ill-explained transparency of the exchange rates.
So what do you guys think of this? Should I dump all my expenses to BDO? or both banks are just as the same and there's no real "cheap" alternatives? Citi is supposed to be a larger bank, but they're charging 3.525% over BDO's 1%+1.25?
submitted by Apache_Longdong to phinvest [link] [comments]

Forex trading- How to do-Tagalog Foreign Currency Exchange API using PHP - YouTube How to Deposit Forex Trading Account Using GCash Forex USD Core CPIJanuary 14, 2020Live TradingMilked How to Open Forex Trading Account Philippines AUDJPY $413 Profit Trade Review - Forex Trading Philippines

BDO Exchange Rate: Curr: BDO - 10 Jun, 09:27: Real Time 13 Nov 23:00: Buy: Sell: Mid: USD: 48.0500 (-0.0500)48.5500 (-0.0500)48.3000 (-0.0500)48.1935 (-0.2755)AED: 11 ... Bank savings account options for ofws easypay convert php and usd bdo bank investment and articles bdo bdo forex us dollar rate Sgd To Php Bdo Forex HistoricalBdo Forex Today Rebellion SystemEasypay Convert Php And Usd Bdo Unibank IncRemittance Fees […] New Dollar Wallpaper HD Noeimage.Org. Menu. Foreign Exchange Rate Dollar To Peso Bdo. Posted on December 6, 2018 by Darmawan . Dollar. How ... Forex. FOREIGN EXCHANGE RATE as of 2020-11-11 14:21:37. Notes: 1. Currencies other than USD are available in selected BDO branches only. Please click here to view list of selected branches. 2. Rates are indicative only and may change without prior notice. For updated rates, please contact your BDO branch. 3. All currencies are subject to availability. 4. BDO may reject notes that will be ... Bdo personal banking bdo remit directory as of jan2 2019 amex overseas travel treats with sm forex exchange rate money in the philippines what to know Sgd To Php Bdo Forex HistoricalDollar To Philippine Peso Rate Bdo لم يسبق له […] New Dollar Wallpaper HD Noeimage.Org. Menu. Bdo Exchange Rate Us Dollar To Philippine Peso Today. Posted on November 14, 2018 by Darmawan . Dollar. Money ... BDO exchange rate dollar to philippine peso, reviews and details: logo, hotline, address, contact number. Banco de Oro exchange rate history and chart US Dollar(USD) To Philippine Peso(PHP) This is the page of currency pairs, US Dollar(USD) convert to Philippine Peso(PHP). Below shows the current exchange rate of the currency pairs updated every 1 minutes and their exchange rates history graph. Do you want to INVERT the two currencies? Visit Philippine Peso(PHP) to US Dollar(USD). BDO Exchange Rate: Curr: BDO - 28 Feb, 14:11: Real Time 29 Feb 23:00: Buy: Sell: Mid: USD: 50.6000 (+0.1500)51.1000 (+0.1500)50.8500 (+0.1500)50.9639 (-0.1457)AED: 11 ... Current USD to PHP exchange rate equal to 48.4720 Philippines Pesos per 1 US Dollar. Today's range: 48.4050-48.5370. Yesterday's rate 48.5200. Change for today -0.0480 Philippines Pesos, -0.10%. FOREX. Home » FOREX. FOREIGN EXCHANGE RATE as of 2020-12-11 09:04:54. Notes: 1. Currencies other than USD are available in selected BDO branches only. Please click here to view list of selected branches. 2. Rates are indicative only and may change without prior notice. For updated rates, please contact your BDO branch. 3. All currencies are subject to availability. 4. BDO may reject notes ...

[index] [3696] [16084] [3150] [17253] [18148] [27340] [18615] [8783] [12985] [18778]

Forex trading- How to do-Tagalog

forex exchange philippines bdo forex elite philippines philippines forex expo forex education philippines forex expert philippines ph forex exchange forex philippines exchange rate forex ... forex exchange philippines bdo forex exchange rates philippines philippines forex expo 2018 forex money exchange philippines forex exchange rate philippines philippines forex expo forex education ... forex philippines exchange rate forex exchange philippines forex exchange philippines today forex education philippines forex elite philippines forex exchange philippines bdo philippines forex ... How to fetch buying and selling rates of foreign currency using free API using PHP Forex Trading for Living Risk Disclaimer for Forex Trading Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all i... forex bdo forex foreign exchange metatrader 4 forex exchange foreign exchange market bpi forex copy trade forex investment bsp forex babypips metatrader tradersway forex news currency strength ... Tags: forex market forex dominion forex strategy forex money nfp live trading forex trading fomc how to use moving average life of a trader daily highs and lows Millions in Forex Billions in forex ...

https://binary-optiontrade.pietilgefouma.tk