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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
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
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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