In his wildest dreams, Marco Selorio never thought organising a community dance event for his brother’s crew would turn into a worldwide phenomenon. However, it was this moment that ignited an annual calendar of dance events, becoming a celebration for Filipino families to celebrate and connect with their youth.
Category: Money Remittance
Tips when choosing a remittance service
? Check that fees are displayed upfront While many remittance services may seem cheap at first, often fees will be hidden or exchange rates won’t be guaranteed until after the transaction. Avoid being stung by only using services that are completely transparent and upfront about their fees, or using a provider that can guarantee an […]
Western Union SVP meets with Filipino Australian media
Anyone would expect a person of her stature, title and responsibilities to display that Machiavellian command of respect. Well, she did look very respectable but Ms Patricia Riingen was far from being supercilious or overbearing. Having been seated very close to her, I found her to be amicable and unpretentious.
LBC Express shut down by Bureau of Internal Revenue
Cargo and courier services provider LBC Express Inc. claimed that its subsidiary covering southern Metro Manila had already paid its value-added taxes or VAT, making the closure of its 33 branches by the Bureau of Internal Revenue (BIR) last month a “surprise.”
Banks criticized for shutting out money remitters
A powerful parliamentary committee has slammed the big 4 banks for cutting off services to money remitters, leaving hundreds of legitimate businesses stranded without bank accounts. (Source: News Corp Australia)
Remittance providers want four months grace from Westpac
Alternative remittance service providers were in the Federal Court in Sydney seeking orders preventing Westpac from closing their accounts on the grounds that the bank had engaged in “misleading and deceptive conduct.”
Are banks motivated by greed?
In any kind of business, the basic principle is to maximize profit. But what is the real motive of banks in closing the accounts of remittance companies? Can banks equal the service provided? Are they even willing? Last month, St. George Bank threatened to close the accounts of remittance companies suspected of money laundering. St. […]
Remittance firms sue Australia’s Westpac as banks shun money transfer firms
SYDNEY (Reuters) – An Australian court case is set to throw a spotlight on a steady retreat by Western banks out of the $435 billion (276.5 billion pounds) global remittance business, a trend that threatens to erode the livelihoods of hundreds of millions of the world’s poor.
Terror funding crackdown to ‘kill local businesses’
The war on terrorism and money laundering is driving hundreds of local money remitters out of business after Westpac and St. George Bank confirmed that they were closing the bank accounts of various remittance companies.
Remittance firms urge dialogue with banks following Court-ordered reprieve
Sydney, 28 November 2014 –The industry body representing remittance providers, or money transfer operators (MTOs), has urged Australia’s major banks and regulators to fast-track dialogue leading to a viable operating model for the remittance industry, following the Federal Court’s granting today of an interim injunction against Westpac closing down the accounts of MTOs.
Local money transfer lifelines under threat as remitters face extinction
Hundreds of migrant communities across Australia will lose their ability to send money home to family and friends safely and securely if banks continue their plans to close the accounts of remitters. Without bank accounts in Australia, money transfer providers cannot complete the transfer of their customers’ funds to destination countries, which means that hundreds […]
Local money transfer lifelines under threat as remitters face extinction
Hundreds of migrant communities across Australia will lose their ability to send money home to family and friends safely and securely if banks continue their plans to close the accounts of remitters. Without bank accounts in Australia, money transfer providers cannot complete the transfer of their customers’ funds to destination countries, which means that hundreds […]