Bangko Sentral and banks yesterday signed an agreement that will reduce back-end remittance service fees to just P50 per transaction for those that use the central bank’s Philippine.Payments and Settlement System.
Bangko Sentral Gov. Amando Tetangco Jr. yesterday said Filipinos working abroad would save P75 million daily from the back-end remittance charges. He said banks charged between P100 and P550 per day on back-end processing for remittance transactions. Association of Bank Remittance Officers Inc. estimates that 5,000 remittance transactions are credited to an account daily, or 66 million transactions a year.
The agreement was signed by the central bank, ABROI, the Bankers Association of the Philippines, the Chamber of Thrift Banks and the Rural Bankers Association of the Philippines.
Bangko Sentral Deputy Gov. Diwa Guinigundo said the agreement served as a Christmas gift for Filipinos overseas and their families, adding that the signing was timely because remittances peak in December when Filipinos send more money home for holiday spending. Remittances this year are expected to total $17.1 billion.
Tetangco said the linkage between PhilPaSS and ABROI would be tried until January and should be operational by February or March next year. –Eileen A. Mencias, Manila Standard Today
Nov 16 – International Day for Tolerance
“No more toleration of corruption!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
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November
Nov 2 – Intl Day to End Impunity for
Crimes Against Journalists
Nov 9 – World Science Day for Peace
and Development
Nov 16 – International Day for Tolerance
Nov 19 – World Toilet Day
Nov 20 – World Children’s Day
Nov 25 – Intl Day for the Elimination of
Violence Against Women
Monthly Observances:
Homes Safety Month
Filipino Values Month
National Rice Awareness Month
National Consciousness Month
for Punctuality and Civility
Environmental Awareness Month
National Children’s Month
Organic Agriculture Month
Weekly Observances:
Nov 19-25: Global Warming and
Climate Change Consciousness Week
Nov 23-29: National Girls’ Week
Population and Development Week
Nov 25 – Dec 12: Social Welfare Week
18-Day Campaign to End
Violence against Women
Week 2: Week 3: Drug Abuse Prevention
and Control Week
Last Week: Safety and Accident
Prevention Week
Daily Observances:
Last Saturday: Career Executive Service
Day
Nov 19: National Child Health Day
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