Do you have an alternative remittance channel other than cheque deposits?
Starting April 2019, we now offer a much faster remittance of the rental proceeds to our client property owners. You can now receive your rental proceeds in an instant via Coins.ph without any transaction fees.
This is our response to the growing number of bank accounts we have encountered that do not accept deposits in cheque. Apparently, some banks allow opening of deposit accounts even when the depositor could not complete all their requirements at the time of opening the account; more particularly, the requirement of at least 2 valid ID’s.
What these banks don’t disclose to their depositors, is that if they are able to open an account with lacking requirements, the account will have some limitations. One of them being unable to accept cheque deposits. The bank will only lift the restrictions when all the requirements are satisfied by the depositor.
Our move to offer remittances via Coins.ph is also part of our continuous efforts to find ways to make things more convenient for our clients. The following are some of the reasons why we chose Coins.ph among other available online options:
It takes less than 5 minutes to create an account. This is way faster than even just calling your bank to find out why they wouldn’t accept cheque deposits to your account.
After opening your account, all you need to give us, is your Peso account address (PHP wallet address) and you’re done.
They don’t require physical submission of documentary requirements for identity verification. You only have to take a photo of your gov’t-issued ID and upload it on their website or mobile app. They do additionally need you to submit a current photo of yourself (selfie), which is yes, a bit inconvenient, but the banks are definitely more inconvenient than this.
You can open an account anytime, anywhere, as long as you have internet connection. You can do it from even your mobile phone. Banks, even up to this day, definitely don’t let us do this with them.
The transfer to your account show up almost in real time (within a minute, more or less).
You can spend the money right straight from your Coins.ph account since there are right now, already a lot of bills you can readily pay right from their platform and there’s also a growing number of merchants who accept payments through their platform – us included. Or…
You can also easily withdraw/transfer your money from your Coins.ph account, to your account, at any of their partner banks. They even let you do cardless ATM withdrawals in some of these banks in case you need to do this.
Aside from transferring directly to your bank account, you can also make withdrawals at any of their extensive network of cash-out channels, that includes money remittance centers and even door-to-door delivery of your money. Banks simply don’t do this.
What we need for this remittance option
If you don’t have a Coins.ph account yet, just signup today. And after going through their ID verification process, send us your Peso wallet address. Click here for info on where you can find your Peso wallet address.