Any ideas

shiredevon

Good day everyone

It's been a while since i posted anything, basically i'm retired (60) living in the philippines,

Lost most of my money on a failed business venture,

Question, i have two annuities i purchased which pay me 680 sterling per month, what's the best way of transferring from UK to philippines,

Of course i can do a bank transfer but i wondered if i could set up a direct debit through a money purchase company, i used to do this when i still had money transferring in dollars as i could get a dollar account here,

Not sure if a company would want to or be able to buy Peso or if my monthly budget would be worth their while,

Any advice greatly appreciated. Regards Nick

atush

Do you still have a UK bank acct that receives this money?

I would open an acct with someone such as currency direct and have it paid over monthly.

If they wont operate in pesos, but youhave a USD acct then transfer from GBP to USD and then from USD to pesos? I presume that isn't difficult there?

shiredevon

atush wrote: »

Do you still have a UK bank acct that receives this money?

I would open an acct with someone such as currency direct and have it paid over monthly.

If they wont operate in pesos, but youhave a USD acct then transfer from GBP to USD and then from USD to pesos? I presume that isn't difficult there?

Hi thanks for reply, yes still have UK account that the annuities get paid into, i can open a dollar account here with BDO, it's easy to change dollars to peso here with money changers although you have to be a bit careful of scammers with fake money etc, they do undercut the banks though.

LHW99

Could you transfer quarterly, rather than each month - might reduce transaction fees?

atush

And you could get a better rate

shiredevon

Hi yes i could could possibly do it quarterly once i've recovered financially, just found a company called Transferwise,

Don't know much about them, i've emailed them for info,

Thanks for the reply's:T