LBC Money Transfer – Remittance services and rates

LBC is one of the most popular and trusted money transfer services in the Philippines. They offer three main ways to send money – Instant Peso Padala, Remit to Account, and Door to Door. Here’s an overview of each service, fees, requirements, and partners:

1. LBC Instant Peso Padala – Same-day money remittance service- the fastest of the available LBC money transfer services
2. LBC Peso Pak (Door-to-Door) Money Delivery – Get money delivered to your recipient’s doorstep. Takes 1-2 business days.
3. LBC Remit to Account – 24-hour money remittance from your account into your recipient’s account. All without needing to visit a Bank branch.

Now, let us look at each of these services in detail, including the rates associated with each remittance service, and what could be the most cost-effective solution for you to send money.

Instant Peso Padala

LBC’s Instant Peso Padala is a quick money remittance service. It allows you to send money from one LBC branch or local remittance partner to another. Here’s how it works:

1. Fill Out the Form: To initiate an Instant Peso Padala transaction, visit an LBC branch or a local remittance partner. Fill out the required form, providing all the necessary details.
2. Payment: Once the form is complete, make the necessary payment for the transaction. LBC offers competitive fees, but the exact cost may vary depending on the amount and location. It’s always a good idea to inquire at your local LBC branch for specific details.
3. Message the Tracking Number: After completing the transaction, you’ll receive a tracking number conveniently located underneath the barcode on the receipt. This number is essential for the recipient to claim the money. Send the tracking number to the recipient to receive the money.
4. Same-Day Collection: One of the standout features of Instant Peso Padala is the speed of the service. The recipient can claim the money at any LBC branch in the Philippines on the same day. This level of convenience is ideal for sending allowances, covering groceries, medical expenses, utility payments, or addressing unexpected situations.

LBC Instant Peso Padala rates

How much does LBC Money Transfer charge for Instant Peso Padala? Here is a breakdown of the rates:

Principal amount	Instant Peso Padala fee
₱100	₱3
₱101 – ₱200	₱6
₱201 – ₱300	₱9
₱301 – ₱400	₱12
₱401 – ₱500	₱15
₱501 – ₱600	₱18
₱601 – ₱700	₱21
₱701 – ₱800	₱24
₱801 – ₱900	₱27
₱901 – ₱1000	₱30
₱1001 – ₱1500	₱45
₱1501 – ₱2000	₱60
₱2001 – ₱2500	₱75
₱2501 – ₱3000	₱90
₱3001 – ₱4000	₱120
₱4001 – ₱5000	₱125

LBC Express Peso Pak (Door-to-Door) Money Delivery.

In the case where you are not able to visit an LBC branch to receive money that is sent to you, LBC offers a door-to-door money delivery service where you need not visit a branch to receive the money in person but rather pick it up at your doorstep. This option comes with a great deal of convenience and can save a lot of time.

Given that LBC Express has a wide range of delivery networks, this service is similar to sending and receiving your package at your doorstep, but instead for money that has been sent to you.

One distinction between this service and other LBC Money Transfer services is that the rates for Peso Pak are relatively more expensive than that of Instant Peso Padala.

Step-by-step process on how to send money through LBC door-to-door money delivery

1. Visit an LBC branch and ask for a remittance form. Fill out the details indicated in the form. Make sure to choose the option ‘Pesopak’. At any point, if you need assistance, get in touch with an LBC branch employee.

2. Please double-check that all the information you have written is spelled correctly. This step is very important since any incorrect information might prevent LBC from successfully completing the delivery.

3. Sign the form in the space indicated in the form and hand it over to a customer service associate along with the amount you want to remit/transfer.

4. The customer service associate at the LBC branch will hand you a receipt of your transaction. Please keep this handy to keep track of the progress of your transaction. It will typically take between 1-2 business days for the successful completion of the transaction.

5. Now comes the fun part. In order for the recipient to get the money, please ask them to show a valid ID for verification purposes. The LBC delivery agent will check if the name in the ID matches the name you have written in the LBC remittance form (hence, step 2 is again very important).

6. Once the recipient has been verified during the door-to-door delivery, the transaction will be marked successful, and you will be notified accordingly when you track the progress of the transaction using the receipt.

LBC Express Door-to-Door delivery rates

Now that you know the detailed process of how to send money using LBC door-to-door (PesoPak) delivery, let’s see what the rates and transaction fees associated with it look like. Please refer to the table below for more information.

Principal Amount	LBC Peso Pak Rates (Door-to-Door Delivery Rates)
₱ 100	₱ 35
₱ 101-200	₱ 37
₱ 201-300	₱ 52
₱ 301-400	₱ 54
₱ 401-500	₱ 59
₱ 501-600	₱ 71
₱ 601-700	₱ 76
₱ 701-800	₱ 80
₱ 801-900
₱ 901-1000
₱ 1001-1500	₱ 119
₱ 1501-2000	₱ 140
₱ 2001-2500	₱ 179
₱ 2501-3000	₱ 200
₱ 3001-4000	₱ 260
₱ 4001-5000	₱ 320

As you can see, Peso Pak is costlier than the Instant Peso Padala. Indeed, there will be costs associated with the convenience that comes with door-to-door delivery. If you are considering using Peso Pak to send money, it is worth it to send larger amounts than smaller amounts.

For example, if you send ₱ 100, it will cost ₱ 35 to complete the transaction. That is a 35% fee, which is very expensive.

On the other hand, if you send ₱ 1,000, the fee would be ₱ 80, which is only 8%. While it is still a lot in comparison to other Money Transfer services by LBC, it brings great value for the recipient while bringing hassle-free remittance to their doorstep and saving them a lot of time.

If you send ₱ 5,000, the fee of ₱ 320 comes down to 6.4%, which is the lowest it can go.

LBC Remit to Account

LBC Remit to Account is the third way to send money using LBC Express’s money transfer services. The main advantage that comes with this service is the ability to deposit money into the recipient’s account directly without needing to go to a bank.

This service is also relatively cost-effective, and the rates are comparable to Instant Peso Padala’s. The typical processing time involved is around 24 hours, which makes it slower than LBC Instant Peso Padala but faster than LBC Peso Pak (Door-to-Door Money delivery).

How to send money using LBC Express Remit to Account

Here is a step-by-step process on how one can transfer money through the Remit to Account service:

1. First and foremost, visit your nearest LBC Branch or an official Remittance partner. (More information on remittance partners is down below).
2. Get a remittance form- which is the same form as the one you would use in Peso Pak. Make sure to tick the option for ‘remit to account.’ Fill out the form with your personal details such as name, phone number, address, etc.
3. Now, fill in the bank information where you would like to transfer the money. Mention the account number, bank name, and branch address. Once you have done this, fill in the specific amount you want to send.
4. Next, sign the form and make sure that all the information you have added is correct. Please double-check the bank account information in particular because this is where most people are likely to make mistakes.
5. Finally, hand over the form to the customer service associate along with the equivalent amount you want to send.

Once you finish these steps, please allow up to 1 banking day for the successful completion of the transaction. Please keep any receipts with you as proof of the transaction.

LBC Express Remit to Account Rates

The Remit to Account rates are structured in a tiered way. For any amount from ₱ 100 to ₱ 1,500, there is a flat fee of ₱ 100. For any amount from ₱ 1,501 to ₱ 4,000, the rate is ₱ 120. Finally, for an amount between ₱ 4,001 – ₱ 5,000 the rate is ₱ 150. Please refer to the table below for more information.

Principal Amount	LBC Remit to Account rates
₱ 100	₱ 100
₱ 101-200
₱ 201-300
₱ 301-400
₱ 401-500
₱ 501-600
₱ 601-700
₱ 701-800
₱ 801-900
₱ 901-1000
₱ 1001-1500
₱ 1501-2000	₱ 120
₱ 2001-2500
₱ 2501-3000
₱ 3001-4000
₱ 4001-5000	₱ 150

As we can see, it is more cost-effective to send ₱ 1,500 and upwards if one were to use this service. Let’s consider the rates for a couple scenarios:

1. You want to send ₱ 1,500. – the fee would be ₱ 100, which is 6.6% of the principal amount.
2. You want to send ₱ 4,000 – the fee in this case would be ₱ 120, which is 3% of the principal amount. The transaction fees have halved at this point from 6.6% in the previous tier to 3% in this tier.
3. You want to send ₱ 5,000 – the fee in this category would be ₱ 150, and still is 3% of the principal amount.
4. Fun scenario– If you want to donate some money to LBC, simply send ₱ 100 using remit to the account. The fee is ₱ 100, and you would end up with nothing!

LBC Express Remittance Partners

Here is a list of all the Remittance partners for LBC Express with the relevant links to their websites.

LBC Remittance Partners in the Philippines

These are LBC’s remittance partners that offer remit-to-account services. Please note that for overseas customers, there are more remittance partners all across the world.

1. Metrobank
2. Landbank
3. Bank of Commerce
4. Veterans Bank
5. Asia United Bank
6. BPI Remittance
7. RCBC Telemoney

Popular LBC International Remittance Partners for Money Transfer

1. World Remit
2. Xoom
3. Remitly
4. Western Union
5. Ria Money Transfer

Conclusion

Whichever service you end up choosing for LBC money transfer, please make sure to fill in the correct information and re-check the recipient’s information to ensure a safe, successful transaction. If you ever face any issues with the transaction, please contact the LBC Branch/ remittance partner whom you have transacted using. Finally, please beware of scams that exist when transferring money.