Sending remittance philippines is one of the most popular culture of being an OFW. However, OFWs aren't the only people sending remittances, all over the world, people working away from their countries send remittances. According to World Bank, latest estimates of remittances sent around the world have reached more than US$250 billion whereas IFAD estimates US$401 billion. Philippines is one of the top countries receiving remittances around the world. In the latest reports, as of 2007-2008, a total of $30.8 billion US dollars have been received by the Philippines.
To make it easier to send remittance philippines, or to any other countries around the world, different money transfer services have been established for easy and quick sending of remittances. The world's largest money transfer and financial services around the world today is MoneyGram and Wester Union.
MoneyGram
MoneyGram International, Inc. is a United States-based financial services company, headquartered in Minneapolis, Minnesota. It has additional facilities in Brooklyn Center, Minnesota, Lakewood, Colorado, and international offices in over 170 countries including the Philippines. Other than money transfer services, MoneyGram is also known to provide money orders, and bill payment services to consumers which is very convenient when an OFW would want to pay their family's bill in the Philippines. Another segment of MoneyGram International provides financial institutions with payment processing services, primarily of official check outsourcing services and money orders for sale to their customers.
Western Union
Other than MoneyGram, sending remittance philippines were also made easy through Western Union. Similar to MoneyGram, The Western Union Company is also a financial services and communications company based in the United States. Western Union has a number of divisions, with products such as person-to-person money transfer, money orders, and commercial services. As of September 9, 2008, the company has 350,000 Western Union agent locations in over 240 countries and territories. Reported revenues top $5 billion annually.
Remittances has always been one of the many ways for OFWs to help their families back home. But other than helping their families, remittances are also known for its contribution to economic growth and to the livelihoods of needy people worldwide. Moreover, remittance transfers can also promote access to financial services for the sender and recipient, thereby increasing financial and social inclusion. For more information visit to our site at http://www.lbcexpress.com
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