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OFW Money Transfer OptionsArticle Summary: Remittances from overseas workers have been a consistent financial resource for the Philippines. A recent World Bank report indicates that in 2011, Overseas Filipino Workers (OFW) sent a staggering $23 billion to their beneficiaries in the country. This figure accounts for money remittance sent through formal channels only.
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Remittances from overseas workers have been a consistent financial resource for the Philippines. A recent World Bank report indicates that in 2011, Overseas Filipino Workers (OFW) sent a staggering $23 billion to their beneficiaries in the country. This figure accounts for money remittance sent through formal channels only. [url=http://www13.plala.or.jp/white_roots/gwbbs/gwbbs.cgi]louboutin pas cher The Many R[/url]
Global money- movers like Western Union partner with local agents [url=http://simplifyyourday.com/41-simplifying-ways-to-happiness/#comment-277110]How to Find Affordable Camouflage Seat Covers - written by Charles & Susan Truett[/url] to facilitate OFW money transfers. These types of money transfer operators will not require an account for either sender or receiver, although proper identification is required to initiate and complete transactions. Most traditional banks offer some way to send money abroad. Fees will likely be higher than other types of money transfer, but these institutions provide more stringent security measures. OFW money transfer through banks may take a few days longer to deliver to recipients. Banks guarantee that the remittance is safe and secure in [url=http://www.corsodiesperanto.it/hoganit.html]hogan outlet[/url] their system. Banks will require OFWs and their recipients to maintain an account, ensuring their access to other financial products such as loans and investment accounts.
New financial products spurred by advances in technology and communications have made it easier to send [url=http://www.corsodiesperanto.it/moncleroutlet/]moncler outlet[/url] money abroad. Online remittance [url=http://www.burnabystorage.com/barbour.php]barbour italia[/url] systems have simplified OFW money transfers. OFWs can send money online using a secure service, provided they have a bank account or credit card, internet [url=http://www.sandvikfw.net/shopuk.php]hollister sale[/url] access and an email address. This process shortens the [url=http://www.jeremyparendt.com/Barbour-Paris.php]barbour france paris[/url] delivery period and lowers processing fees compared to bank transactions.
An improved version of online remittances involves the use of all-access debit [url=http://www.par5club.com/louboutin.php]louboutin[/url] cards. OFWs can apply for the debit card online. The card can be funded by authorizing direct deposit of wages [url=http://www.rtnagel.com/airjordan.php]nike air jordan pas cher[/url] or money transfers from a bank or PayPal. The debit card can be used for ATM withdrawals and purchases. Unlike traditional credit cards, there is zero risk of incurring over-limit fees, late charges and substantial maintenance fees. As with most bank cards, debit cards can also be used for online bill payments.
Because this financial [url=http://www.tagverts.com/barbour.php]barbour online shop[/url] product is tailored to the needs of OFWs, it is also the easiest way to send money abroad. For a fee, cardholders can send money online by making a request on the card issuer's website. This is by [url=http://www.teatrodeoro.com/hollisterde.php]hollister deutschland[/url] far the most efficient way to make a money transfer because the handling charges are low and transactions are completed quickly. Remittance fees are important to the frugal OFW because any fees saved will increase the amount of money remitted. As an added bonus, the debit card can replace traveler's checks, eliminating another expense.
OFW money transfer used to be a time-consuming errand but newer types of money transfer do not require senders to line up at a bank or agent's office. With a prepaid debit [url=http://www.mxitcms.com/abercrombie/]abercrombie milano[/url] card, a phone or online access, OFW money transfer can be accomplished conveniently anytime in the privacy of one's home. Updated financial products like OFW-targeted prepaid debit cards are expected to boost remittance numbers for the Philippines because convenience and accessibility tend to capture more money transfers that would otherwise go through informal channels.
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24/7 Card is the all-new prepaid debit card and remit card available for Filipinos and immigrants living and working in the United States. For more information on how [url=http://www.trulyislam.com/modules.php?name=coppermine&file=displayimage&album=random&cat=&pos=-206/modules.php?name=coppermine&file=displayimage&pos=-206]Key to Healthy Living - written by Monty Canning[/url] to send money remittance to the Philippines, visit [link widoczny dla zalogowanych]
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