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Posts Tagged ‘remittance

Dollar Remittance Tops 7.9 Billion USD January to May 2011

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Remittances from overseas Filipinos rose 6.2 per cent to 7.9 billion dollars in the first five months of 2011, the Central Bank of the Philippines said Friday. In the month of May alone, remittances totaled 1.69 billion dollars, up 6.9 per cent from 1.58 billion dollars in the same month last year.

The major sources of remittances in the period were the United States, Canada, Saudi Arabia, Britain, Japan, Singapore, the United Arab Emirates, Italy and Germany.

Read more at Monster and Critics

1World Cash in Hong Kong Targets Filipinos

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One World Ventures, Inc., the provider of prepaid cards and 1World Cash, announced the establishment of 1World Cash Hong Kong. “Our new services are dedicated to the Filipino community at the present time,” CEO Steve Prior said. This is the first step in One World Ventures strategy to use the 1World Card and 1World Cash branded services to focus on its desire to serve the underbanked and underserved in locations like the Philippines, Indonesia, Mongolia, Mexico, United States and elsewhere.

Source from via

One World Ventures, Inc. is a holding company with management resourced in Asia and the United States that invests in technologies, communities and systems that facilitate trade, finance, communication and travel across international boundaries, cultures and languages.


Written by Raffy Pekson II

April 5, 2010 at 7:12 pm

Overseas Filipino Workers (OFW) Saving More

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Banko Sentral ng Pilipinas (Central Bank of the Philippines) says half of OFW families are saving more money remitted to them, rising 50 percent more than usual, while remittances allocated to investments decreased.

There are approximately 11 million Filipinos working in other countries or 11 percent of the population of the Philippines. In January, remittances from overseas Filipinos amounted to $1.4 billion, posting a year-on-year growth of 8.5 percent.

Read more at Manila Bulletin

Written by Raffy Pekson II

March 27, 2010 at 7:42 pm

Filipino Overseas Sailors Remit Whooping 2.5 Billion Pesos in 9 Months

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The money sent home by overseas Filipino sailors rose by $108 million or 4.51 percent to a new record of $2.501 billion in the nine months to September this year, from $2.393 billion over the same period in 2008, the Trade Union Congress of the Philippines (TUCP) said.

“A growing number of European and Asian shipping firms are disbanding their multinational crews, and replacing them wholesale with all-Filipino personnel that are younger and more able,” said Herrera, former chairman of the Senate committee on labor, employment, and human resources development.

Read more at Inquirer Global Nation

Written by Raffy Pekson II

December 9, 2009 at 11:11 am

Send Money to the Philippines for FREE

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XOOM - one of the biggest worldwide money transfer service

Remittance king has launched a new program that allows overseas and migrant Filipinos, or practically anyone for that matter, to send money to the Philippines for free. The catch includes two things:


(1) The first transfer is FREE of any fees;

(2) The coupon code will expire in seven (7) days

    When you login to the website, you have to enter the coupon code XOOM4FREE located at the bottom of the “Payments Page”.

    For more information, call XOOM in North America through 1-888-993-3966 or go to their Help Center website.

    Written by Raffy Pekson II

    November 14, 2009 at 9:59 am

    Wells Fargo Eliminates Remittance Transfer Fees To Philippines

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    Wells Fargo & Company (NYSE: WFC) —with its remittance network member Bank of the Philippine Islands (BPI) – is temporarily eliminating all remittance transfer fees (normally $5 or $7) for customers sending money using the ExpressSend® service to friends and family in the Philippines impacted by Typhoon Ketsana (also known as Typhoon Ondoy). The fee waiver is effective September 29 through October 12, 2009.

    ExpressSend customers can send up to $3,000 a day for $5 if originated from an eligible Wells Fargo account (or $7 if originated from cash). The fee will be waived September 29 through October 12, 2009. Recipients can claim their funds at more than 800 branches and 1,500 plus ATMs throughout the Philippines.

    Read more at [Wells Fargo article].

    Written by Raffy Pekson II

    September 30, 2009 at 9:56 pm

    Pag-IBIG, iRemit tie up on OFW contributions

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    From a news source: (Click Here)

    PAG-IBIG Fund members working in 25 countries where iRemit Inc. operates will soon be able to pay their monthly membership contribution and housing loan amortization at any iRemit branches. The new and improved system will be implemented on June 1. About a tenth of the Philippine population of around 90 million work abroad, but only 373,396 of them are Pag-IBIG members.

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    Written by Raffy Pekson II

    May 29, 2009 at 6:46 am