We understand that once in a while, you may have to send large sums of money to the Philippines. We have listed down a few things to consider when you choose to send higher amounts with Asenso Remit.
As a Money Service Business, Asenso Remit is required to comply with Government legislation and regulations set out by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). As part of our obligations, we may ask you to provide additional documents to process large amounts. It’s also important to keep in mind the limits to the amount you may send for each payment option and delivery method.
On a single transaction, you can send up to $300 (exclusive of fees) through Debit Card payment and up to $3,000 (exclusive of fees) through Interac e-Transfer or POS (for face-to-face transactions) payments.
There is also a limit of $3,000 (or Philippine peso equivalent) for credit to bank account transactions and bills payment, Php 100,000 for cash collection, and Php 50,000 for door-to-door delivery.
Please note that we may require you to provide additional documents for transactions accumulating over $7,500 within 31 days. The maximum accumulated amount you can send within 31 days is $10,000.
Additional checks may be conducted. To avoid any delay with your transfers, make sure you have the requested documents available. For further assistance with larger transactions, feel free to get in touch with our 24/7 customer service representatives who can assist with your enquiries.
It’s always best to get the most value, especially when transferring large amounts. If you need to send money urgently, you can check the exchange rate at any time of the day through the calculator tool. The fees will automatically be added to show you the total amount you need to pay even before you decide to send the money. Alternatively, you may choose to monitor and wait for the exchange rate to increase before making a transaction.
You must never use Asenso Remit for illegal purposes. We follow strict compliance guidelines and conduct Know Your Customer (KYC) checks in line with FINTRAC regulations. We also continually check and monitor our system for unusual transactions, and we have the right to modify or suspend your account once unlawful use has been identified.
Today’s technological and digital developments have made it easier and more accessible for scammers to conduct fraudulent activities. Scammers nowadays have found different ways to be more compelling and convincing to get a hold of people’s money.
You can protect yourself and your loved ones from being scammed by making sure you only send money to people you know personally. To help protect our customers, we only allow transactions made by the person the account is registered with. We do not allow transactions sent on behalf of other individuals.