International Funds Transfer To The Philippines – Some Facts You Might Not Know

The Philippines is among the top countries in the world when it comes to residents sending money back home since more than 10% of the country’s population live and work abroad. In fact, after the much larger countries of China and India, Philippines is the third country in the world in terms of remittances received. Overseas transfer of money is extremely commonplace among the Filipinos since so many of them do it on a regular basis and there are many companies both within and outside the Philippines that help the non-resident workers in a smooth money transfer to the Philippines. Let us try and understand the importance of the foreign currency remittance to the economy of Philippines and how it has helped in the dramatic economic growth story of the country. 

The historical timeline of Immigration: As per history, the first wave of immigration took place in the early 20th century when Filipinos were hired to work in the sugar plantations and the apple farms of the United States. The subsequent waves of immigration in the 1970s and later saw a lot of qualified young Filipinos such as teachers, nurses, doctors and others migrating to a slew of countries, specially in the Gulf, the middle east and to Europe. A substantial population of Filipinos also work onboard merchant and cruise vessels and is among the largest nationality represented in many sea going vessels and maritime companies. So much so, that the Philippines is the only country in the world that has institutionalised the deployment of its people to work overseas since 1995.

The importance of Remittance to the economy: The money transfer to the Philippines has been an essential part of the country’s economy and represents almost 10% of the nation’s GDP, among the highest ratios anywhere in the world.  The nation saw a record amount of remittances in 2015, which was partly a result of the decrease in Public expenses in the preceding year, but the fact is that the money transferred to the Philippines by its expatriate workforce is critical to the consumption and growth story of the country. In many ways, overseas transfers are among the most significant contributing factors that sustain growth and help to stabilise the local currency, the peso against the US dollar. 

The various money transfer to the Philippines Remittance modes: Since the is quite substantial, there is no dearth of options for the Filipinos to send their money abroad and therefore the money transfer market is quite competitive and rapidly growing. With the growing competition, more and more new services are emerging in the space with more than 250 companies that allow money transfer to the Philippines, as per a World Bank report. Within that, the online money transfer medium is among the fastest growing overseas transfer choice that more and more Filipinos are making. With companies like InstaRem, that has completely changed the way people send money to their countries, providing much higher levels of convenience, trust and speed, Filipinos are fast becoming more and more technology conscious and are using technology and the internet to good use in all fields, including the money transfer to the Philippines. With an annual growth rate close to 5%, in the overseas transfer space, the Filipinos are fast realising and using the potential of companies such as InstaRem to safely and speedily transfer money back to their families. 

Easy Ways To Send Money Online In India With Instarem

The article describes easy and trustworthy ways to send money online in India and explains how to remit money to India quickly.

Article : 
With the advent of technology the world has become a global village and one person cannot confine themselves to the borders of one nation. Where a man goes, there goes his money. With multiple nations come multiple currencies and the problems associated with sending money across borders. This article hopes to give you details about how to send money online in India. You can remit Aus dollar to INR easily and quickly without spending any major moolah..




When looking for mechanisms to transfer money online you should look for the following features:

• Security - When it comes to the matters involving online money transfer most users are skeptical because technical faults can make you lose some hard earned currency. This is the reason people look for trusted sources when wire transfer services are needed.

• Speed - No one can wait for days for the money to arrive in their bank account. The speed of everyday life is primarily why people rely on the online services for quick delivery. The source must transfer money in real time.

• Cost Effective - Customers would never want to spend half their money on transferring it to other nations. This can put their organizations in a huge loss. The fees given to the online money transfer site  must be reasonably low to be acceptable as users generally look for ways to save the maximum amount of money.  

Instarem is one of the best ways to send money online in India. You can remit money easily and quickly without spending any major moolah.

You can send money online using Instarem using these simple steps.  

• Step 1 : Fill out your registration details and ensure that all details are accurate to your knowledge. 
• Step 2 : Verify your identity using a valid proof such as Passport, Address Proof, Bank Statement, Utility Bill, Driver’s License. 
• Step 3 : Your request will be approved in a record short amount of time, which is 2 hours by Instarem professionals so that they can ensure complete security. The time required for verification is much lower than any other sites so that they can provide the speed that you desire. 
• Step 4 : Now, you can make the payment by entering the details of the recipient and the amount of money needed to be transferred online. 
• Step 5 : You can select two methods to send money. POLI is for immediate transfers and Bank transfers are for sending the money in one business day. 
• Step 6 : Initiate the payment process by sending money from banks, including reference number in the details. 
• Step 7 : Click on submit and relax! Your money will be sent dutifully and you will be notified once it has been received by the beneficiary. 

Instarem works for both individuals and services to solve the worries of online money transfer. There are no hidden bank fees or extra charges. They aim to send money transparently across international borders by matching the needs of today’s generation. You can send money in India or remit money to India from other countries to keep your business running or your family happy in the time of need. 

By and large, the search for choosing an online money transfer service that allows you to send money to India with all the factors you need ends with Instarem.