We're still trying to figure out how to transfer your fund from your Philippine Bank Account (regular savings account) to your designated Australian Bank.
Naginquire ako recently kay BDO regarding wire transfer and they have advised that a Dollar account must be created first prior to wire transfer. Additionally, may holding period din daw yung dollar account prior to withdrawing all the content.
I have inquired also with I-Remit earlier today. According to them you need government issued ID for initial registration at their office in Ortigas. Upon registration they will be giving you a quotation of the intended transaction. So the process will be: Deposit Money to their bank account based on the amount on the quotation then they will transfer it to your Australian bank in one to two working days.
Note: Based on inquiry I have made with BDO, dahil malaki din yun iwiwithdraw kong amount from the account and I want to avoid holding cash, they recommended to have it withdrawn through manager's cheque which you can request from your branch of account. Accordingly, I-remit confirmed that they accept manager's cheque in depositing to their bank account.
Has anyone compared I-remit's exchange rates against other means of transferring money? Is it competitive against wire transferring from the PH bank? Or may iba pang efficient way of transferring your PH savings to your AU bank dito sa Pinas?