Post
Topic
Board Pilipinas
Re: Cheapest way to send php to the Philippines via bitcoin? (normie-friendly)
by
Vaculin
on 25/05/2020, 09:47:41 UTC
I think fees would be high sa Bittrex to banks, and kasi banks do also requires huge fees lalong lalo na kapag international exchange rates ang pinaguusapan and AFAIK huge amounts lang tatanggapin neto and not good nor friendly for transactions na mabababa lang ang amount.

The fee is very minimal, you can refer to this old thread.

https://bitcointalk.org/index.php?topic=5108813.40 Alternative for BTC cash in and cash out [USD bank account]

I made another transfer again today, sent $156.21 and receive $139.71 in my BPI usd account, this means there is a charge of $16.5 for this transaction.
If I made this transaction with coins.ph, I could get a better rate as they are just 5% lower than the standard, here it's less 10% of my original amount.

Conclusion, wire transfer is not good for small transactions as the fee is your burden.
I don't know if this info is helpful in determining the fees, please help me analyze it and give your thoughts.

https://www.bpiexpressonline.com/p/1/694/international-wire-transfer


Next time I will transfer similar to the amount OP did in his example, let't see if the fee is reasonable.




As you can see, the fee was only $16.5 for a $156.21 transfer, so if you going to transfer a bigger amount, you will save a lot compared to the rate you will get from coins.ph.