iKobo.com . It sounds like that 80’s cartoon strip Ikabod. But iKobo is nothing like a cartoon, it’s actually very serious about online money transfer services. Interesting how they allow senders to remit money by calling the iKobo hotline. About iKobo
iKobo was founded in 2001 to offer the market a better, faster, safer and more economical solution to international person-to-person money transfers. Leveraging modern technologies and an on-line customer interface, iKobo today offers a secure solution that is vastly superior to traditional agent-dependent companies. iKobo uses an open network of VISA merchants and ATMs numbering more than 25 million.
Sending money is done through credit card. iKobo offers two ways of initiating a money transfer.
- Online through Credit Card (Visa or MasterCard)
- Via telephone (requires Visa or MasterCard)
A sender can also use a US bank account to fund a money transfer.
- First time recipients will be sent a reloadable Visa Prepaid Card. Recipients can withdraw their remittance through ATMs worldwide wherever Visa debit cards are accepted.
- Subsequent remittances to the same recipient will just be loaded into the Visa prepaid card.
- One Time Visa Card Shipping costs from $11.95 USD (14 days or less) or $24.95USD (3-7 days)
- Subsequent remittances are transferred to the Visa Card within minutes and immediately withdrawable at nearby ATMs.
- Transfer Fee is $5USD for sending any amount up to $1000USD anywhere.
- Loading Fee of 3% of remittance amount if sending money through credit card. (Free if sending through Bank Account).
- Send money through phone. That’s a unique service that can be quite convenient for OFWs who don’t have steady access to the Internet.
- ATM Withdrawal charges. Withdrawals using the Visa Prepaid Card on Philippine ATMS will be charged $1.99. That’s almost 4-5 times the P8-12 pesos withdrawal charge when using a Philippine-issued card that’s a member of the Bancnet, Expressnet or Megalink network.
- Use iKobo if you have limited Internet connection and want to send money through the iKobo hotline. Make sure the recipient is savvy enough to activate the Visa debit card (one time activation only) and understands the applicable withdrawal charges.
iKobo – Secure money transfer service. $200.00 for $11.00
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