see Filipino and other Remittance Providers in Australia to be close on 24 November 2014
From my own personal research/readings, the big four Australian banks are joining many of the world's largest banks in fighting money laundering and terrorism funding and eventually will make it difficult for Asia and the Pacific's poorest people from receiving remittances from relatives in Australia.
That's basically the gist on why remittance providers will likely be closing soon.
Nevertheless, I am here to discuss about WorldRemit - which has offices in UK, US, Canada and Australia - may be here to stay.
I've been using WorldRemit for quite a few time already to send money from Australia to UK and the Philippines.
I have some relatives on both countries and there are some occasions that I need to send money to them.
Some things I like about WorldRemit are:
1. ZERO transaction fee for your 1st money transfer
3. POLi payments are accepted. This is where you seamlessly login via Worldremit online system and then you will be redirected to your own original bank site (as if you have login directly onto your bank online system like Netbank for Commonwealth Bank of Australia) and do the money transfer from there.
4. My favourite feature - the source of fund can be via credit card with maximum of 1,000AUD per transaction/money transfer. For practicality and emergency purposes, this feature is awesome!
5. Very secured.
From my own personal research/readings, the big four Australian banks are joining many of the world's largest banks in fighting money laundering and terrorism funding and eventually will make it difficult for Asia and the Pacific's poorest people from receiving remittances from relatives in Australia.
That's basically the gist on why remittance providers will likely be closing soon.
Nevertheless, I am here to discuss about WorldRemit - which has offices in UK, US, Canada and Australia - may be here to stay.I've been using WorldRemit for quite a few time already to send money from Australia to UK and the Philippines.
I have some relatives on both countries and there are some occasions that I need to send money to them.
Some things I like about WorldRemit are:
1. ZERO transaction fee for your 1st money transfer
2. 3AUD transfer fee only from Australia to UK. (For Philippines, it's different. Higher transfer fee and lower exchange rate than most of the remittance providers like iRemit)
3. POLi payments are accepted. This is where you seamlessly login via Worldremit online system and then you will be redirected to your own original bank site (as if you have login directly onto your bank online system like Netbank for Commonwealth Bank of Australia) and do the money transfer from there.
4. My favourite feature - the source of fund can be via credit card with maximum of 1,000AUD per transaction/money transfer. For practicality and emergency purposes, this feature is awesome!
5. Very secured.
- Their site is SSL-enabled (https)
- POLi payments accepted. POLi is able to provide consumers a convenient and affordable method of payment by operating a proxy. The proxy service means that the customers are simply accessing their original bank site via the POLi servers. see Overview of POLi (https://www.polipayments.com/Security)
- A One-time PIN or single-use password is sent to your mobile phone via SMS or text message (valid for 2 minutes). Most Australian banks-provided credit cards already has this feature.
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