Remittance Options for Expats

Remittance Options, this concept is something that we do day in and day out in our lives as expats. This is for the reason that as workers here abroad, we try our best to earn as much as we can so that we can send something to our respective families back home. That fulfills our purpose of working abroad right?

As an expat, you might have experienced having a hard time thinking of the best way to send your hard-earned money to your family. You might be considering which remittance option you could choose to make sure that you will not spend a lot in sending, and at the same time, you relative could still get the exact amount or even a higher amount (regarding currency exchange).

I also had the same dilemma. The first time I tried it out, it is as if a trial and error process, going through from one website to another, trying to figuring out which works best, asking co-expats abroad, and still being clueless at the end of it. I just had to ask myself again and again, what is the best remittance option for me?

In this article, I will be sharing with you bits of information which you could personally use as a reference in choosing your remittance option. I hope that at the end of this article, you could in a way decide which one suits your needs.

1.    Paypal

One of the oldest and most established remittance options which you could have heard of already is Paypal. This payment gateway allows you to send money to your relatives wherever you are and whenever you want. So, how do you even begin using Paypal? Here are the steps:

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a.    Sign-up at

b.    Choose if you would like to set it up for personal account

c.    Input your email address plus your password

d.    Input your personal information (names, address, contact information)

e.    Link your Paypal account to your bank or card account

f.    Confirm the link process if prompted

Once you’ve done these steps, you are now ready to send money to anyone in the world by just using their email address! The rate would vary depending on the amount that you are sending. The receiver could transfer the money from his/her Paypal account to his/her personal bank account.

The process of sending the money is real time, while the transferring of the receiver from Paypal to the local bank would take around 3 to 4 days. Still, with its convenience and accessibility, Paypal is recommended.

2.    Transferwise

Transferwise is another payment gateway which I can say based on my experience much easy to use. Another amazing thing about this gateway is that it provides you the real-time conversion of the money you are sending to the currency that the receiver has to receive. If in case that you do not want to go through the conversion, you may just send the currency as it is and ask the receiver to be the one to convert. Note that the conversion rate here is higher than any other remittance options. This is how you do it:

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a.    Sign-up at

b.    Provide the needed information (name, address, contact number)

c.    Input your email address and your password

d.    Link your cards or bank account

e.    Confirm the link process when prompted

With steps as easy as that, you can now begin sending your loved ones the amount that they need! The sending of remittance time is real-time, while the transfer from Transferwise to the bank will take around 3 to 4 days as well. With high currency exchange and its user-friendly features, Transferwise is a good choice.

3.    Foreign Exchange Brokers

One of the newest and in-trend remittance options which you may choose to take is the use of Foreign Exchange brokers. The catch here is that you need to be knowledgeable about the foreign exchange for it could determine the actual money that your loved ones could receive. Though there is some FX that offers a fixed rate, that would only be good for a month or two since the rate of the currencies continues to change on a daily basis.

These FX Brokers are buying and selling currencies as a form of remittance. So, the rate will always depend on the actual rate of the currency on a day to day basis. Examples of these are the HiFx, Torfx, FC Exchange, OFX, and Currency Solution. Here are the advantages of each sample.


•    Compatible for mobile use

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•    Ability to track the remittance through SMS and email

•    High security


•    Compatible for online and mobile

•    You can manage your account through your dashboard

•    The transfer time is 24/7

•    Fixed rate for exchange for quite some time

•    High security

FC Exchange

•    Secured exchange rate

•    Excellent customer service and support staff

•    Available for regular remittance

•    Easy to set-up account

•    High security


•    There is an available mobile app to check on the existing currency rate

•    Accessible 24/7 customer support staff

•    Easy set-up of the account

Currency Solution

•    Real-time transfer

•    Fixed rate for future transfer

•    Accessible for both small and large amount of remittance

With all these remittance options, I can say that sending money to our loved ones has never been this easier! With the given technological advancement, everything is at the tip of our fingers.

There is no need for us to worry about sending the remittance for we have all the means to choose from. All you have to do is be sure of what you want and what you need. All it takes is for you to study these options further so that you could be aware of all their possible pros and cons.

I hope that by reading this article, you somehow had the idea of which payment option works best based on your needs and situation. Remember that you have to be always keen and observant about the way your send your remittance since there are a lot of fraudulent activities going on online nowadays. So, better be cautious about such.

Good luck and wishing you a great day ahead fellows!  

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