How to Send Money through Money Padala by TrueMoney

Sending money to loved ones is just one of the responsibilities of many Filipinos to their family.

I, for example, send money monthly to my parents who are based in the province, for their personal expenses. They don’t ask or oblige me or my other siblings to give them money, but it’s just a fulfilling and wonderful feeling to share with them even a small amount of cash for whatever purpose they may have.

Both my parents are pensioners of SSS and they both have ATM cards, but it takes more than an hour for them to go to the main town where they can withdraw money. There may not be a fee (or just a minimal fee) when withdrawing cash from the ATM machine, but going there will cost each of them P100 for a one-way fare.

This is the very reason why remittance centers are truly a huge help when sending and receiving money. They’re more accessible and receivers don’t have to pay to claim or receive their remittance.

Thanks to the many remittance centers and services that are available right now.

What is TrueMoney Money Padala?

One of them is Money Padala by TrueMoney. Launched just less than a year ago, TrueMoney is one of the newest remittance services in the Philippines that offers a fast, affordable, and secure way to send and receive money.

What’s good about TrueMoney’s Money Padala service is that there’s is NO membership required and there is NO charge to your receivers, too.

TrueMoney’s Partner Agents use POS Terminal to process transactions to ensure that your hard-earned money gets to your loved ones fastly and securely.

Here’s how it works:

• The POS Terminal of TrueMoney process your transaction (send money)
• It prints a transaction receipt
• The confirmation and the unique reference code are sent to your mobile number quickly
• Your receiver can pick-up the cash remittance real-time

What does the TrueMoney’s platform offer?

Aside from Money Padala, Bills Payment, and Mobile Reloading services, TrueMoney also offers the following:

• TrueMoney Wallet
• TrueMoney Cash Card
• TrueMoney Kiosk
• TrueMoney Express
• WeCard by MasterCard
• Payment Gateway
• TrueMoney Transfer
• Other financial services

TrueMoney has approximately 5,000 centers or partner agents now. According to Xavier Marzan, chief executive officer of TrueMoney Philippines, one of their goals is to put one TrueMoney center in each of the country’s 40,000 barangays. This way, remittance services will be more accessible and affordable to all Filipinos.

TrueMoney is Affordable

“Right now, we are focused on everyday transactions like cash remittances, bills payments, and mobile reloading but at affordable rates for the average Filipino. Unlike other remittance centers that charge as much or even higher than 10 percent of the total amount, TrueMoney’s fee is 2 percent,” Marzan said.

TrueMoney is Accessible

“We want to be located in residential areas so we’re closer to our market. This way, senders or receivers don’t have to travel so far. They can simply go to their suking tindahan or sari-sari store.’”

TrueMoney is Safe and Secured

TrueMoney has a very robust system and it is regulated by the Bangko Sentral, hence they’re run like a bank.

More about TrueMoney

TrueMoney started out in Thailand as part of the True Corp and CP Group, and it is owned by the Ascend Group from Thailand and Alipay from China.

Having been in the payments and financial services business for more than 12 years, TrueMoney is the largest and fastest-growing financial service platform in Southeast Asia. It is already present in 6 emerging markets across the region including Vietnam, Cambodia, Myanmar and Indonesia and the Philippines.

How to be a TrueMoney Partner Agent? 

TrueMoney also offers a business opportunity for Filipinos by signing up as a Partner Agent.

For just Php 7,500, you can have your very own TrueMoney Center and you will be given a TrueMoney Starter Kit so you can immediately begin transacting!

What’s included in the TrueMoney Starter Kit?

• User Manual
• A TrueMoney Tarpaulin
• 1 TrueMoney Umbrella.
• 1 TrueMoney EDC
  • This device is lent to you for just Php 2,500 (cash bond)
  • The device comes with PHP 5,000 fund so you can start your business, hassle-free.

TrueMoney is currently receiving a huge volume of applications. To speed up the process of reviewing your application, make sure you have these requirements:

• Physical Store
• Mayor’s Permit
• DTI Permit
• Valid ID

If you already have the above requirements, just go to the TrueMoney website and upload soft copies of your requirements so you can be part of their priority list.

Please take note that all submissions will go through an evaluation process. Once the review is complete, you will be receiving a call from one of their Business Development Executives for the next set of steps.

How to Contact TrueMoney?

For inquiries about TrueMoney Services, you may contact them through the following options:

• Hotline: (02) 718-9999
• Email: support@truemoney.com.ph
• SMS Hotlines: 0977 806 3773 (GLOBE) and 0998 565 9999 (SMART)
• The Customer Loyalty Department: Available Mondays to Saturdays, 9:00 AM to 9:00 PM and Sundays, 9:00 AM to 6:00 PM.

Click here to read: How to Send Money through Cebuana Lhuiller