- Great if you want flexible options for sending money to the Philippines
- Not so great for sending really small amounts due to fixed fees
Kabayan Remit is a single corridor online money transfer service that solely focuses on sending money to the Philippines. In Filipino, the expression ‘kababayan’ refers to fellow Filipinos, countrymen or townmates. Kabayan Remit was set up in June 2012 to help ‘kababayan’ working in the UK to send money back home to their loved ones. It offers a variety of transfer options and has competitive exchange rates. However, transfers can be slow, and its fees mean that it’s not good value for money on smaller transfer amounts.
Why should I consider Kabayan Remit?
- Various transfer options. Recipients can choose between direct bank transfer, cash pick-up and home delivery.
- Competitive rates. Kabayan Remit looks to offer ambitious exchange rates.
- No documents required. There is no need to provide documentation. For most users, they can register and verify their identity online and then send money automatically.
- 24/7 customer support. The customer service team is bi-lingual and available to talk every day via phone or email.
What to be aware of
- Transfer fees. Transfer fees range from £2.99 to £4.99 mark, so if you’re only sending a small amount of money you might be better off with another service.
- Slow home delivery. If you opt to use the home delivery transfer option to locations out of Manila, you may find that your transfer can take between 3 and 4 working days.
- No cash or credit card. You can only pay via bank transfer or debit card.
How much are Kabayan Remit’s international transfer fees?
Kabayan Remit’s transfer fees range from £2.99 to £4.99 depending on the type of transfer you’re making and how much money you’re sending. If you are a new customer, then your first transfer is free.
You can use Kabayan Remit’s calculator tool to see how much your transfer will cost, and use this to compare against other money transfer providers.
How are Kabayan’s exchange rates?
Priding itself on its competitive exchange rate, you’ll often get a better rate with Kabayan Remit than with your bank. It’s worth keeping in mind that the service is exclusively for sending money to the Philippines, so the Philippines Peso is the only currency on offer.
Also remember that banks and money transfer providers usually add a margin on top of the mid-market exchange rate on international transfers. So it is best to compare the displayed rate on Kabayan Remit with the current interbank rate to work out the size of this margin.
What are the ways I can send money abroad with Kabayan Remit?
You can arrange your transfer online, via the free app or over the phone with the customer services team. Transfer options include:
- Direct bank transfer. The money can be sent directly to the recipient’s bank account (any bank in the Philippines).
- Cash pickup. You can opt for a cash collection at various outlets.
- Home delivery. Kabayan Remit also provides home delivery to your recipient’s address. However, this is available in certain areas of the Philippines only.
You can send up to £5,000 to any Philippine bank account. However, you’ll need to carry out online verification for single transfers over £1,000, or frequent transfers that reach £3,500 in a 31-day period. It’s also worth noting that the total amount you can send within 31 days is £10,000.
What payment methods does Kabayan Remit accept?
You can pay using your debit card or by bank transfer. Kabayan Remit does not accept cash payments or payment by credit card.
How long does an international transfer with Kabayan Remit take?
Transfer processing times depend on your transfer method.
Cash pickup and bank transfers to the bank BDO are usually complete within 24 hours. Bank transfers to all other major banks takes 1 to 2 working days. Home delivery takes between 1 and 2 working days within Manila and between 3 and 4 days outside of the city.
How to make your first international transfer with Kabayan Remit
Before making your first international transfer with Kabayan Remit, you will need to register for an account by completing the following steps:
Registering an account
Making an international money transfer with Kabayan Remit
Once you have set up your account, you can then make your first transfer:
- Log into your member account. Here you will find an account dashboard which will display your unique member ID, the day’s exchange rate and details of any transfers.
- Click on ‘Send Money’ and add the details of your recipient including their name, address, contact details, relation to you and bank details. Then click on ‘Add Beneficiary’.
- Choose the type of transfer, the amount you want to send and how you want to pay.
- Pay for your transfer either by debit card or bank transfer. Once the payment has been made you’ll get a text message and an email confirming that’s taken place.
Is Kabayan Remit safe to use?
- Regulation: Regulated by the FCA
- Security: Encryption, Verified by Visa (3D Secure), 128-bit encryption
- Established: 2012
- Reviews: Kabayan Remit scores 4.3 out of 5 on Trustpilot, but this is based on only 17 reviews. On Reviews.co.uk it scores 4.78 out of 5, out of more than 11,238 reviews.*
*According to Kabayan Remit, Trustpilot and Reviews.co.uk on 24 June 2020
For additional security Kabayan Remit claims it continually scans its systems for unusual transactions. It says that from time to time it may block a transfer and contact customers for additional security clearance, particularly when a transaction is large or unusual.
How does Kabayan Remit compare to other money transfer services?
Table: sorted by promoted deals first
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
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