Every year, billions of dollars are sent back home from overseas Filipinos to support their families and loved ones. The process usually includes a cash transfer service that may entail high fees and long wait periods.
Pomelo, a charge card platform, has emerged as a more cost-effective and convenient alternative for sending money overseas.
Below, we’ll explore the key features of the Pomelo system, examine some of the benefits you can expect, and explain how to set up cards for your family in under ten days.
Let’s dive in!
Key Features of Pomelo
Tired of paying annoying fees or waiting for days just to send money back home? Pomelo offers several impressive features:
No Transfer Fees
Traditional remittances can come with high costs, eating into the hard-earned money sent home by overseas workers. With Pomelo, neither the sender nor the receiver will ever have to pay these fees.
This is because Pomelo earns its revenues by charging a small fee to merchants each time the card is used, similar to how traditional credit card systems operate.
No Need for a Cash-Out Network
A trip to the bank or a cash-out point can be time-consuming for many people, especially in rural areas. With Pomelo, you won’t have to travel anywhere.
Pomelo users can purchase anywhere that accepts Mastercard, Google Pay, or Apple Pay, and the sender just needs to pay the bill at the end of the month. This “spend now, pay later” model is incredibly convenient and empowers recipients by giving them instant access to their funds when they need it most.
Traditional banks operate on fixed schedules, which can be inconvenient for people who need to access their money outside these hours. Emergencies don’t adhere to bank schedules; they can happen anytime.
Pomelo’s service is available 24/7, meaning peace of mind even in emergencies. You’ll never have to wait for banks to open or worry about holidays again.
How Pomelo Works
Pomelo operates on a “charge card” model. The process begins with the sender setting up an account and authorizing a recipient (or several recipients) in the Philippines to use it. Once authorized, they can use the card just like a traditional debit or credit card to make necessary purchases.
As transactions are processed, a balance builds up on the card that the sender pays off.
One of the notable advantages of Pomelo is transparency. All transactions are tracked in real-time and can be monitored by the sender using the Pomelo app. This allows the sender to keep track of spending and set budget limits for each user.
When the month ends, the sender is responsible for paying off the balance on the card. As long as the balance is cleared on time, neither party will incur additional fees.
Quick Steps to Sign Up
Getting started with Pomelo is incredibly straightforward. Here’s how:
- Apply: The application process is open to anyone at least 18 years old with a Social Security Number (SSN). Depending on your credit standing, you may need to link a bank account or provide a security deposit.
- Invite: Once your account is set up, you can invite up to three authorized users. These users will need to provide an acceptable form of identification. Once approved, they will receive a custom Pomelo card along with you.
- Spend: The cards typically arrive within ten days. As soon as they arrive, the users can immediately start spending. This means that your loved ones back home can receive financial assistance in under two weeks, a significantly quicker turnaround than most traditional remittance methods.
These easy steps make Pomelo a user-friendly platform both for those wishing to send money and those on the receiving end.
Benefits of Using Pomelo
There are numerous benefits to using Pomelo, making it a popular choice among those looking to send money internationally. Here are some key advantages:
Cost-Effective Money Transfer Solution
One of the key benefits of using Pomelo is its affordability. Unlike traditional remittance services, which involve transfer fees and often hidden charges, Pomelo requires no such costs.
Money can be sent without the sender or receiver paying transfer fees. It’s income-friendly for overseas Filipinos hoping to send money back home.
Fast and Reliable Service
Pomelo provides a fast, efficient service with immediate and consistent access to funds. No more waiting for bank hours or slow transfer times. This reliability is particularly vital in emergencies.
Secure Transactions and Customer Support
Pomelo prioritizes security and customer support. All transactions are secured and can be monitored in real-time, allowing for transparency and peace of mind. Customer support is always at hand to help users navigate through problems and provide speedy solutions.
Pomelo offers a cost-effective, reliable, and convenient solution for overseas money transfers. It’s the only answer if you are a Filipino working abroad and seeking a more affordable solution to overseas remittances.
With impressive features like no transfer fees, secure transactions, and quick delivery, it takes the hassle out of traditional remittance services. So, why not try Pomelo and experience the difference for yourself?
Thanks for reading! We hope this has been helpful and wish you the best of luck with your money transfer needs.