Penoy Remittances

The philippines remittances have been growing at an exceptional rate in the past half-decade. This growth has not been ignored by the government, which as been operating a seperate division for ‘Overseas Filipino Workers’ and providing training and assistance for smoother immigration. The OFWs have been contributing significantly to the country’s growth and add considerablly to the foreign reserves.

The private money transfer operators have sprouted in abundance to tap into the home-bound remittance market, where the customers are not as critical of the FX rates and value the service quality more.

Some of the money transfer operators who have made significant inroads into this lucrative remittance amerket are -

• iRemit.com
• Remit2Home.com
• Philippines National Bank
• XOOM.com
• Money Gram

We shall look at the advantages of all of these services in cost, time and quality of service provided to share the latest update in our upcoming section.