Working overseas has been the goal for many Filipinos. The main reason why Filipinos aim to work overseas is nothing but the higher wage, which allows them to give a better lifestyle to their families, whether they are in abroad or in the Philippines.
The challenges, which Filipino workers face, are unique. Apart from being away from their families and the pressures for adapting the new cultures, they have got the financial transactions to do which are specific regarding remittances, or regarding getting an OFW Loan.
But you know what the good news is? It’s that the financial processes have been made more convenient and accessible through technology. You don’t have to go to the banks anymore. You can wire money instantly from anywhere you want while being cheaper than getting it done from banks.
Want to send money back home to someone who doesn’t have a bank account? Wish to send the remittance regarding grocery vouchers? All these things and more have become possible now; thanks to the new services proposed by the Fintech companies or financial technology in the Philippines.
Want to acquire the advantages of these Fintech services committed to OFWs? Here are some of the top websites or apps that you should try out:
- Beam & Go
Ever thought you would be able to estimate the money you’ve been sending to make certain that it would cover all that your family needs? Well, Beam & Go allows you to send remittance in the form of coupons which enables the recipient to use in groceries, department stores, and pharmacies. You can now buy load or electronics for your beloveds, or maybe you can send them goods package from the Philippines to straight at your doorstep.
On the top of that, this website allows you to make the make payment on behalf of your family.
If you wish to send money right from the Philippines to the family, without needing a recipient to have the bank account, then this is the service that you’re looking for. Because the remittance you send is converted in the digital currency, the transaction has become more efficient, cheaper and faster as it is directly transferred to the digital wallet of the recipient. Your beloved one can utilize the digital money to make payment of bills or purchase goods. They can also get this digital money converted into physical cash.
Abra is the other remittance service which transfers digital currencies to the virtual wallets and abolishes the need of having a bank account for the recipient. Instead of visiting a partner or an authorized retailer, the recipients can visit ‘tellers’ to get their digital money converted into physical cash. It will be easier to convert the digital money to Philippine pesos with the Abra.
But make sure that personal lenders in the Philippines that you take a loan from are legitimate and trustworthy. Going through an adequate check is important so that you do not suffer frauds. Stay tuned for more information on financial services for the OFWs.