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Western Union and DMW augment remittances for overseas Filipinos

Tuesday 13 June 2023 14:21 CET | News

US-based money transfer service Western Union and the Department of Migrant Workers (DMW) have signed a MoU to support the remittance needs of overseas Filipino workers.

 

The MoU bolsters Western Union’s relationship with the DMW, while demonstrating its commitment to the country and supporting the financial needs of Filipinos worldwide.

US-based money transfer service Western Union and the Department of Migrant Workers (DMW) have signed a MoU to support the remittance needs of overseas Filipino workers.

The MoU reaffirms Western Union’s role to enable Filipino workers send money home to their loved ones through its global money movement network. In the Philippines, the two entities will work together to enhance knowledge of – and access to - financial services for Filipino workers through joint financial literacy programmes and other campaigns. Western Union will also support the DMW in advocating anti-human trafficking and anti-illegal recruitment programmes.

Officials from Western Unions said that over 10 million Filipinos live and work abroad, contributing to global economies as well as their own. They are happy of the role they play in connecting them to their families. Western Union is confident that its collaboration with the DMW will be instrumental in their combined journey of enabling accessible financial services for all.

Seamless remittance to the Philippines

World Bank data shows that the Philippines is the fourth-largest remittance-receiving country globally, with Filipinos sending USD 38 million in remittances home in 2022 alone. One of the highest number of diaspora currently reside in the US, Canada, Singapore, UK, Japan, and the Middle East.

The Department of Migrant Workers is the exclusive home of Overseas Filipino Workers and their families in government. It is mandated to protect their rights and welfare. It is also tasked to develop and implement a full-cycle national reintegration programme which shall be embedded in all stages of migration, from pre-deployment, on-site during employment, and upon return.

Western Union, which has been operating in the country for over three decades, began its relationship with the DMW over 20 years ago. It is one of the only money transfer operators with a physical presence for Filipino workers at the Department’s main site in Manila. The MoU will also enable both entities to explore the possibility of expanding Western Union’s presence to DMW sites across the country, with the intention of further extending financial and other related services to overseas Filipino workers and their families.


Source: Link


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Keywords: remittance, money transfer, partnership, Western Union, money remittance
Categories: Payments & Commerce
Companies: Western Union
Countries: World
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