Retirees who are thinking about expatriating could benefit from moving to the Philippines.
In a bid to tempt new residents from overseas, the islands offer the possibility for pensioners to enjoy their foreign-sources retirement income free from the impacts of income tax.
However, foreigners should think carefully about how to send money to the Philippines when they make their big move.
Using a bank-to-bank transfer is likely to eat into pension instalments due to high per-transfer fees and less-than-competitive rates of currency exchange.
But a regulated foreign exchange broker, such as RationalFX, avoids these problems by charging very low fees and offering some of the best currency exchange rates available to consumers.
Furthermore, the service is secure. RationalFX is regulated through the Financial Services Authority in the UK as a Payments Institution and the firm is careful to take precautions against fraud.
Open an online account for free today and you could be sending money to the Philippines tomorrow.
An online account allows you to pay by Debit card, iDEAL and ELV in a huge range of currencies.