Overseas Filipino workers are constantly worried about the service fees that come with sending money home to their loved ones.

 

In the past, there have been reports of remittance centers adding hidden fees for transactions, prompting some to use courier services instead of sending money through banks or wire transfer centers. The downside to this is that these courier services don’t provide protection for your money.

 

This year, Bitcoin exchange and wallet service Coins.ph launched their new cash payout option, providing a cheaper and more convenient alternative.

 

Using the remittance system, Coins.ph wallet users can transfer any amount of money between P500 and P10,000. Recipients can pick up the money by going to a partner ATM, selecting the eGiveCash cashout option, and then entering the eGiveCash number they received via text message, the passcode they received via e-mail, and the amount.

According to the Coins.ph website, the ATM payout service is currently avaible through Security Bank machines.

 

source: gmanetwork