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
World Day for Safety and Health at Work
“Safety and health at work every day!”
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!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
