Thursday, 12 November 2009

PHILIPPINES: BDO waives remittance fee for flood donations

Diaspora Journey: A concerted effort of banks and money transfer operators in time of calamities.

MANILA, Philippines - BDO Unibank Inc., the country’s top remittance bank, has waived its remittance service fees on donations sent to institutions participating in relief efforts for victims of tropical storm Ondoy.

The bank, through its remittance offices in Hong Kong, Macau, USA, Italy and Germany, said there are no service fees charged on cash donations sent to BDO Foundation and ABS-CBN Foundation Inc.’s Sagip-Kapamilya.

A number of remittance partners of BDO all over the world have also given their commitment on this effort. In Asia, for instance, those participating are BTI Pesos Express in Singapore, Afima Express in Brunei, EEC International Phil Corp. in Taiwan and Forex World Australia Pty., Ltd. In the US and Canada, BDO’s remittance partners Chartered Forex, E-Pera Corp., Mercury Quick, New York Bay and Continental Exchange are also helping by waiving the remittance fees for the said institutions. The same goes for CBN Grupo, Global Express Money Remittance and Safe Transfer Ltd in Europe and BDO’s remittance partners in the Middle East - Leela Megh Exchange, Al Ansari Exchange and Al Ghurair Exchange. BDO has also arranged with its global money transfer company partner Xoom Corp. to waive the service fee for all remittances credited to the Philippine Red Cross account.

A day after Ondoy hit Metro Manila and some parts of Luzon, the bank started receiving queries from OFWs and Filipinos residing abroad on how they can send donations to those affected and make sure that their contribution will reach the recipients.

With the cancellation of the remittance service fees, concerned Filipinos abroad will be encouraged to send monetary help to victims of the typhoon.

No comments:

Post a Comment