A closer look at international coverage in Canadian banks
Take a look at the global coverage of some of the biggest Canadian banks, and how Wise can help with its international coverage
A closer look at international transfers with Reliable Peso Remit in Canada
If you are looking to transfer funds to the Philippines from Canada, you understand the importance of reliable money transfer services. One platform within this field is Reliable Peso Remit, a Canadian service operating since 2006 1.
In this article, we will uncover the features and benefits offered by Reliable Peso Remit, including rates, and transfer times. We will then look at Wise, another option for sending money to the Philippines, which is highly regarded for its mid-market exchange rate and low fees.
| In this guide, we can see: |
|---|
A closer look at Reliable Peso Remit in Canada
Founded to support the Filipino diaspora across Canada, Reliable Peso Remit was founded in 2006, to make remitting finances significantly simpler and more effective.1
Since then, they have developed a strong reputation for their customer service. 1
Reliable Peso Remit has multiple modes of transfer, including:
- Cash Pickup: For many, cash is king! Reliable Peso Remit offers cash pick-up, where recipients can pick up their cash from many authorized locations located in the Philippines.2
- Bill Payments: People living in Canada can easily pay off a range of bill payments for a recipient, from utility bills to tuition fees and everything in between.3 This service saves the recipient from even having to think of bill payments or reminders.
- Door-to-Door Cash Delivery: This specialized service delivers cash straight to the recipient’s doorstep, which is extremely beneficial for anyone who might have mobility issues or those who can't make it to the bank.5
- Bank-to-Bank/Credit-to-Bank Transfers: To send money directly from a bank account or credit card to the recipient’s bank account in the Philippines, opt for bank-to-bank or credit-to-bank transfers that are secure and simple.4
With diverse transfer options with many solutions, Reliable Peso Remit is versatile and an accessible choice.
Registering to use the service is easy, too.
- Users go to the website,
- Click register to open.
- Complete a registration form in full and submit it.
- Verify the account
Then you are provided with a username and password to start sending money safely to the Philippines.1
What are the fees for using Reliable Peso Remit in Canada?
For each of the modes of transfer, Reliable Peso Remit charges 10 CAD as a service fee, which is subject to change without notice.1 This is a set fee, without any hidden surcharges.
How long does it take to send money with Reliable Peso Remit from Canada to the Philippines?
With different transfer methods, Reliable Peso Remit states the following durations for completing your transfers:
| Service | Duration7 |
|---|---|
| Credit to bank | 24-48 hours, potentially longer for rural locations |
| Cash pick-up | 24 hours |
| Door-to-door cash delivery | Varies with the destination. For Metro Manila, it will take 3-5 days |
How much can be sent with Reliable Peso Remit from Canada?
| Service | Transfer Limit |
|---|---|
| Transferring to a bank in the Philippines4 | 3,000 CAD over the counter/per day and 900 CAD online transactions/ per day |
| Cash pickup2 | 50.000 PHP to send to BDO and MLhuillier - ML Kwarta Padala \ 30.000 PHP to send to CEBUANA Lhuillier |
| Door-to-door delivery5 | 50.000 PHP |
| Bill Payment3 | 3,000 CAD over the counter/ per day and 900 CAD online transactions/ per day |
Get more for your money with Wise
An alternative to sending money to the Philippines is with Wise. The platform offers a range of sending options, using either a debit card, credit card, or online banking source, directly to the recipient. This way you don’t have to worry about paying any hidden fees to intermediate banks.
Wise features pay-as-you-go pricing, meaning that you don't have to sign up for any monthly or annual fees to keep your account with all its currencies, and you only pay depending on your transfer amount.
Wise’s fees start as low as 0.33%*, saving you money on transfer costs, which can add up over time. This means you can send money to your loved ones without spending on excessive fees.
Wise uses the mid-market rate to convert your money. This is the exchange rate that banks use when trading large amounts of foreign currency with each other. Unlike the marked-up rates often provided by traditional banks and money transfer services, Wise gives you the advantage, offering mid-market rates that are fair and transparent.
Please see the Terms and Conditions for your region and visit our pricing page for the most up-to-date pricing and fee information on Wise products.
Final thoughts on using Reliable Peso Remit in Canada
Reliable Peso Remit and Wise are two fantastic and secure options for sending money from Canada to the Philippines. Reliable Peso Remit has three offices in Ontario, online services, and offers a set fee for any transfers made. Wise features a versatile, cost-effective, and transparent approach, at mid-market rates. Pick the service that best suits your needs, and consider trying Wise!
| About the author: | |
|---|---|
 |
|
Sources:
- Reliable Group
- Reliable Group - Cash Pickup
- Reliable Group - Bill Payment
- Reliable Group - Credit to Bank
- Reliable Group - Door to Door
- Reliable Group - Terms and Conditions
Sources verified on 29 August 2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Money without borders
Find out more
A closer look at the best money transfer apps in Canada
we’ll take a look at what money transfer apps such as Wise work in Canada, how they work, and what fees they charge.
What are the best banks to send money abroad from Canada?
We’ll explore what to consider when transferring money and introduce Wise, a cost-effective alternative to banks, with transparent pricing and exchange rates
What are the Wise transfer limits in Canada?
Read on to understand the limits with Wise for sending money, receiving money and using the Wise card for your personal as well as business requirements
Is Cash App unavailable in Canada? Here are some alternatives
While Cash App is unavailable in Canada, there are alternatives which can replace Cash App and do even more! These include Wise which helps you avoid high fees
Can I deposit US Dollars in my Canadian bank account? Here’s a closer look
This article helps you understand how to make the most of depositing USD to your CAD account. Wise could help with mid market exchange rates or a USD balance
