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
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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