Friday 27 April 2007

Hidden fees eat into income remittances from overseas

Posted: 1:04 AM | Apr. 24, 2004

Maria Salve Duplito
INQ7.net

LIKE most overseas Filipino workers, Maria Dinah Abalos used money transfer organizations when sending money to her family in the southern city of Butuan from China, where she worked as a teacher last year.

She told INQ7money she had a vague idea that the fees were steeper than those of banks or credit unions, but what the heck, she said, "It's just a small amount every time I sent money."



This lack of willingness to shop around for the best rates or refusal to understand the process of remittances and find alternative ways of sending money home at a lower cost eats into the incomes overseas Filipino workers remit to their families.[Read more]

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