As a solopreneur or a small business owner, the best way and perhaps the most affordable way to hire help is to outsource it to the Philippines.
The Philippines is where you’ll find the best online freelancers to help you with your business with pretty much just about everything.
I myself just came back from the Philippines and found that most international employers have challenges when it comes to sending money to the Philippines to pay for their freelancers or remote employees.
As an online entrepreneur, you may likely be using Paypal and settled with it when it comes to sending money to the Philippines. While it foots the bill, the problem with Paypal is that it offers such a low exchange rate which in a way diminishes your exchange leverage.
Your other option of course is to hit the road and find a Western Union or a Ria branch, which is the old school way.
Being someone who was born in the Philippines who have parents and siblings back home, I virtually tried all sorts of money remittance services including brick and mortar outlets like Western and Ria.
Fact of the matter is, we actually launched a money remittance agency ourselves but as a busy entrepreneur, sending money online makes more sense, only problem is that most online remittance service providers have such low exchange rate.
I share the same sentiments before until I found out about Remitly.
Remitly actually has a slightly higher exchange rate than most offline remitance branches.
As of today, there are hundreds of thousands of Filipinos who send money to the Philippines using Remitly and they give you a bonus rate on your first transaction.
Say for example, you’re sending money to your virtual assistant in the Philippines and you’re based out of Canada. The average exchange rate for CAD to PHP hovers around $1 CAD to $38Php.
If it’s your first time sending, your exchange rate will be $1 Cad to 41 Php. Keep in mind though that this is just a bonus. Your succeeding transfers will be lower but compare it to the exchange rate at your local money remittance branch, theirs is still higher plus their average sending fee is only $6.99.
I’ve been personally using their remittance services since 2018 to pay for services I outsource to the Philippines.
Signing up through my link won’t cost you anything in addition to their normal fees and I won’t make a lot of money either.
This just a plain referral link were we’re both going to be entitled for a $15 discount on their sending fees and just a fun way for me to introducing you to a money transfer service that’s fast and would probably help you save money whenever you’re sending salaries to the Philippines.