.svg)
This review looks at sending money with Pinoy First and the exchange rates, fees, speed and trust factors to consider before using this service.
Pinoy First offers low fees and competitive exchange rates for its customers. Here is a quick breakdown of what to expect in terms of both exchange rates and fees when using Pinoy First.
Exchange Rates
The provider charges a margin of 2.63% above the mid-market rate for the Australian dollar to Philippine Peso currency exchange. This is the only currency conversion you can do using Pinoy First.
Fees
Transferring funds to the Philippines will cost you AU$6 per transfer. Again, this is the only route available.
Additional Costs
The recipient may be charged landing fees by their bank when receiving funds. Pinoy First is not in control of these fees, so be sure to check with the relevant bank before making a transfer.
Pinoy First Pros and Cons
Customers enjoy lots of advantages when moving money using Pinoy First’s platform. Here is a summary of the pros and cons to consider.
- A variety of payout options: Beneficiaries can receive funds into their bank accounts, at cash pickup locations, or home delivery.
- Low fees: Pinoy First’s fees and exchange rates are reasonable, and if you’re sending larger amounts then the AU$6 fee becomes negligible.
- Faster delivery times: Cash pick up transfers are delivered within 2-3 hours while most bank transfers are delivered the same day.
- Lock in rates: You can lock in an exchange rate and transfer later.
- Limited coverage: The service is only available to customers on the Australia-Philippines remittance route.
- No mobile app: All transfers are processed through the platform. There is no mobile application available.
What Kind of Payments Can I Make With Pinoy First?
How you fund and payout your transfer is important. Here is a summary of the options available with Pinoy First.
Payment Methods Available
Customers pay for their transfers through online banking to the designated Pinoy First account. Bank transfer is the only way to fund transfers through Pinoy First.
Withdrawal Options Available
Beneficiaries can receive funds directly into their bank accounts, arrange the money to be collected from various cash pickup locations, or even have cash delivered at their doorstep.
Does Pinoy First Have a Mobile App?
No. Pinoy First has no app, all transfers are made using the web-based platform.
How Fast Are Pinoy First’s Transfer Speeds?
Transfers to cash pickup locations are delivered within 2-3 hours while bank deposits are delivered the same day or within the next business day. Home deliveries can take up to 3 days depending on the recipient’s location.
Are There Maximum and Minimum Transfer Amounts?
The minimum you can send is AU$10 while the maximum is AU$5,000. In case you want to transfer an amount exceeding AU$5,000.00, you will have to make a special request and provide additional documents for approval.
Can I Trust Pinoy First?
When looking for a money transfer provider, you need to prioritise trust. Here is a brief look at how Pinoy First scores in this regard.
History and Regulation
Pinoy First Pty Ltd is an Australian private company established in December 2012 and headquartered in North Cairns, Queensland 4870. The company registration number is ABN 58161586116.
It is registered and regulated by the Australian Securities and Investments Commission (ASIC) and reports to the Australian Transaction Reports and Analysis Centre (AUSTRAC).
Encryption
The company’s website is SSL encrypted, ensuring that your payment details remain secure when paying for transfers.
Top Destinations for Sending Money With Pinoy First
Pinoy First only allows for one-way remittances from Australia to the Philippines.
The Philippines receives 5.9% of all Australia’s outbound remittances sending an average of $1,002 million USD in 2017. In return, the Philippines sent an average of $16 million USD back to Australia.
Customer Support
If you have any query, you can reach out to Pinoy First’s customer support team, which is available through the following channels.
Telephone: You can call the support team on 07 3063 4777 anytime from 9am – 5pm
Live Chat: You can also connect with customer support on live chat during office hours
Email: Customers can email the team at support@pinoyfirst.com.au for more help
How to Send and Receive Money With Pinoy First
Pinoy First specialises in the Australia-Philippines remittance route, making it simple and straightforward for customers to send money home to their families.
How to Send Money With Pinoy First
Sending and receiving money with Pinoy First is easy and once you’ve registered for an account and had it approved, you’ll be able to make your first transfer within minutes. Follow our steps to get started.
Log-in to Pinoy First and Enter the Amount
Provide the Recipient's Details
Send Payment Through an Internet Banking Transfer
Recipient Will Receive Funds
How to Receive Money With Pinoy First
There are three different ways that recipients can receive money transfers through Pinoy First: cash pick-up, home delivery or direct to their bank accounts. In most cases, it’ll take 2-3 hours for funds to arrive.
How to receive money with Pinoy First Via Bank Transfer
Pinoy First can send money directly from any Australian bank account to any account in the Philippines. Bank account transfers usually arrive on the same business day. To get started follow these simple steps:
Inform the Person Making the Bank Transfer of Your Details
Receive Funds
How to Receive Money With Pinoy First via Cash Transfer or Home Delivery
While most cash transfers should be ready to collect within 2-3 hours, home delivery transfers can vary wildly as processing time depends on several factors from where you live to how long the deposit takes to clear. In both cases, there is little for you to do to receive a transfer. Simply follow these steps:
Inform the Person Making the Transfer of Your Details
Receive Transfer Code
Go to the Location With a Government-issued Id
Receive Funds
Summary
Pinoy First is a dedicated Australia-Philippines money transfer service. With low fees and bank-beating exchange rates, the service helps Filipinos to send money home inexpensively. The guaranteed lock-in rates mechanism can also be used by customers who want to make a future payment and know exactly how much it will cost.
However, much like any other money transfer service, Pinoy First has alternatives who may have better offerings. It is therefore important to do cross-comparisons to get the best deal in speed, rates, and fees.
Luckily, our money transfer comparison tool can help you quickly run through the alternatives available. Pinoy First, as a specialist transfer service for remittance payments from Australia to the Philippines, often ranks highly for this transfer route. But you can’t be sure you’re getting the best deal until you have compared all your options.
