How are remittances paid out to beneficiary/recipient?
In most cases, money remittance is paid out in cash. However, depending on the amount sent for door-delivery, it will be a combination of 30,000 Pesos Cash and the rest in Cash Card. Lucky Money Cash Card works as an ATM card that can be used to withdraw funds at beneficiaries’ convenience from hundreds of BANCNET and MEGALINK ATMs nationwide. It works as VISA DEBIT card that will enable beneficiaries to purchase goods, groceries, school supplies, pay bills, pay tuition fees, etc through accredited merchants of VISA.
In most cases, money remittance is paid out in cash. However, depending on the amount sent for door-delivery, it will be a combination of 20,000 Pesos cash and the rest in check. Checks may only be encashed by the person(s) whose name is written as payee(s), and at designated banks included in the list attached to the check upon delivery. Checks may be deposited by the payee(s) in their respective bank accounts, however, the latter will require bank clearance of a number of days if the issuing bank differs from the depository bank or if regional areas of the two banks differ. Please contact the specific bank for policies.
