Remithome : A Review

A few months ago, our Accounting department told me that Xoom doesn’t work for us anymore due to them asking documents from our Company. Then they found this service called Paystone. It would have been okay too since I just get them from SM Forex or BDO (but most BDO branches — except those in malls — do not know about Paystone) and it only takes a few hours or 1-2 days max. But they stopped doing remittances to the Philippines too. You can find the reason on their website www.paystone.com. So we had to find another service where I can get my weekly pay. 

 They found Remithome. Here are the pros and cons for remithome as I’ve experienced them :

PROS:

1. Fast service. Usually can be picked up on the same day. They also have an expedited service, where you can have it delivered to the beneficiary’s doorstep. Same day.

2. Trackable. Through the website of Asia United Bank (for pickup), you can track your reference number and see if its ready for pickup. Customer service hotlines are also readily available. Their agents know what they’re talking about and they’re very helpful.

3. No nonsense. When you get to the bank, they only ask for your name (they dont even need the reference number.. but it’s always better to bring it) and 2 IDs, and in a few minutes, you go out of the bank smiling.. with cash.

CONS:

1.  Pickup locations are limited. Since they’re partnered with AUB and DBP (both have very few branches), you have no other choice but to travel or have the remitter send it door-to-door. (Luckily, I’m only a few minutes away from one)

2.  Low exchange rate. Compared to the local exchange rate (based on BDO), remithome is usually lower by one peso to a dollar. If you’re getting hundreds of dollars, this will sum up to a big amount. 

So far, these are the things I found out about them. If you have an experience to share, don’t hesitate to leave me message. Cheers! =)