OFW Remittance Fees, cut to P50!
On January, bank to bank remittance fees from the Filipino Overseas Foreign Workers will be cut to P50, from a P100 to P550 processing fee per transaction. This will start on January 2010, test runs. Remittances coming from US, Germany, Saudi Arabia, Singapore, Japan,UK, United Arab Emirates, Italy, and Canada are the sources of these transfers.
These are the banks that are covered by the agreement…
1. Allied Bank
2. Philippine National Bank
3. Rizal Commercial Banking Corp.
4. Asia United Bank
5. Banco de Oro
6. Land Bank of the Philippines
7. China Bank
8. Bank of the Philippine Islands
9. The Development Bank of the Philippines
10. Metropolitan Bank and Trust Co.
11. United Coconut Planters Bank.
This is such a good news for OFW families who are waiting remittances from their working family members outside the Philippines…MABUHAY!