One of our fundamental plans of building this blog-site is to give every information to the readers and visitors including the Pros and Cons of each service, the advantages and disadvantages and also my personal opinion and experience. This way, im giving my visitors and readers the “Authority” to choose which programs suit their needs best. Im starting off with Metrobank money transfer to the Philippines.

Personally, I have never tried to use their service to send money to Philippines but I know they are one of the biggest banks in the Philippines so I think it would be beneficial to review their service first.

The process of money remittance:

  1. The money sender must visit a MetroBank branch or any of its correspondent banks abroad .
  2. He/She must be validated for identity and address. The sender will be asked to present: a passport, a work permit and/or a driver’s license.
  3. If it is a first time transaction, the remitter fills out a remittance application form indicating information about himself and his beneficiary (i.e. complete name, address, contact number/s, account number, bank where the account is maintained)
  4. The sender choose any of the following services:
    Credit to MetroBank account - If the recipient has a Metrobank account. Over-the-Counter - The recipient receives the money from any metrobank branch.                                                                                                                       Door-to-Door - The money will be delivered to the recipient.                                           Credit to other Banks - Funds will be deposited to account from other Bank
  5. The sender specifies the amount of money for transfer to the Philippines.
  6. The remittance officer issues a transaction receipt to the sender.

The Good:

  • Filipinos trust the Bank name. Good reputation.
  • Numerous correspondent banks on certain parts of the globe.

The Bad:

  • Expensive - Different parts in the US have different rates (This I dont understand why)
  • Sender must go to a MetroBank branch or any of its correspondent banks
  • Sender have to wait in line
  • Strict requirements - You should bring all the requirements especially if its your first time.
  • Correspondent banks are not widely available. (Pretty hard if youre not working in the city limits)
  • No tracking service functionality.
  • No Guarantee - A big factor for security and safety to send money to the Philippines. (Havent seen any in their site)

Our Opinion:

Metrobank is a trusted name in the Philippines and I think they are one of the most trusted here. However, its completely a different thing if youre extending your services abroad. Online remittance to the Philippines is an industry that is increasingly on demand. In order to cope up, MetroBank has to have more functionalities, more services and more improvements to have an A rating.

Our rating:

2 stars out of 5.

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