Abra has created a simple product that provides a perfect solution for self-send money transfers. Whether you are moving money from USA to Philippines or from Philippines to USA, Abra has a brilliant solution.
Let’s say that you’re an overseas Filipino living or residing in the United States. It’s common that you have a need to send money back to the Philippines. Most remittance companies are set up for sending money to another person or a named beneficiary — like sending money to friend or family member. But, remittance companies often don’t allow you to send to your very own bank account. This is often called a “self-send” or “send to myself” in remittance jargon.
Alternatively, maybe you want to move money from your bank in the Philippines to your own bank account in the United States. Most remittance companies don’t move money from the Philippines to the United States. Abra is bi-directional, meaning that it’s just as easy to move money from Cebu to Chicago as it is the other way around.
Recognizing the market need for people to move money freely, we’ve re-framed the problem and come up with a great new solution. Since Abra isn’t a traditional remittance company, we don’t have a lot of the constraints that many other companies do. Instead, we create a digital wallet that allows you to freely move cash. It’s like holding cash in your traditional wallet with a big difference – it’s digital and fast.
With Abra, you are simply digitally moving money from your US Bank Account into your Abra wallet and then quickly withdrawing the money from your Abra Wallet to your Philippines Bank Account. Think about the old world ways where you might have taken some cash out of your leather wallet and then deposited into a bank account. Now fast forward with Abra. You are virtually doing the same thing with your very own Abra wallet.
For the free, simple and fast way to send money to your own bank account and in a bi-directional way, here’s how! Truly, it’s free, it’s fast, and it’s very cool!
Step #1: Go to your Abra Wallet, Tap “Add Money”, Select “Use Bank Account”
Step #2: Select your USA Bank Account, Enter the Amount you would like to deposit into your Abra Wallet
Step #3: Now, change your currency to PHP (don’t worry you can always change back to $-USD)
Step #4: Select “Withdraw”, Select you Filipino bank account, enter the amount. That’s it! Your money will move from your very own wallet to your bank in the Philippines.