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Filipino Abroad Remittance Corner

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M Lhuillier Kwarta Padala How to Send Money

Thu, 20 Mar 2014 13:31:00 +0000

M Lhuillier Kwarta Padala How to Send MoneyHundreds of remittance centers around the world have a commitment to assist individuals sending their financial assistance with their families back in the country. One of the most preferred remittance centers in the country is M Lhuillier Kwarta Padala. Satisfaction of the service is their first choice.Sending money at M Lhuillier Kwarta Padala gives convenience where you can send money in a matter of minutes. This is what M Lhuillier Group of Companies like to uphold in serving Filipinos across the country as well as abroad.M Lhuillier  Kwarta Padala is aware of this need, and decided to tie up in different remittance centers abroad to make the remittance of our kababayan easy and fast.  M Lhuillier Kwarta Padala How to Send Money Photo Credit:Wikipedia Listed below are the steps provided by M LhuillIer website on how to send money from abroad back home to the Philippines:STEP 1 : Go to any M Lhuillier Remittance Partner in your area. (Please check our list of corporate remittance partners)STEP 2 : Advise operator that you are going to send money to the Philippines and should be picked up by the beneficiary at any M Lhuillier branch.STEP 3 : Although the money you send can be claimed at any M Lhuillier branch, it is best to inquire if there is an available MLhuillier branch nearest the beneficiary for the latter’s convenience. (Please check our list of branches if needed).STEP 4 : To avoid inconveniences and delay in claiming the remittance at M Lhuillier, in providing names with the operator, please be sure that the name of the beneficiary (recipient) is exactly the same name as that written on his/her identification (ID) card. Include the full name with the middle name and include such titles as Jr., Sr., II, III and the like. Avoid using nicknames.STEP 5 : You will be given a receipt with the reference/control number and the other details of your transaction.STEP 6 : Contact your beneficiary/recipient and give the following details:a) Reference/Control Numberb) Sender’s Namec) Amount Sent or net amount to be received by the beneficiary/recipientd) Password (If there is any)e) Name of remittance partner used for sending the moneyf) The need for the beneficiary/recipient to bring a valid ID to claim the moneySource: mlhuillier.comIf you have further questions  about these guidelines, you can contact any M Lhuillier Kwarta Padala affiliated centers in your nearest overseas remittance centers. [...]

Western Union Kalookan Branch

Sun, 06 Oct 2013 11:05:00 +0000

Western Union Kalookan Branch• eBusiness Services, Inc+63 2 2873922A Mabini Street 529, Sangandaan, Beside Bayad Center And Biosource DrugstoreKalookan City1408Metro Manila________________________________________• eBusiness Services, Inc+63 2 3643512Rizal Avenue 1607 Extension, VSP Condominium, Grace Park, Infront BPI Family Bank & Beside NSK BearingKalookan City1403Metro Manila________________________________________• H Lhuillier Pawnshop+63 2 2886213A Mabini St 579, Sangandaan Plaza Unit D3Kalookan City1400Metro Manila________________________________________• Petnet+63 2 2871040A. Mabini Street 513, SangandaanKalookan City1408Metro Manila________________________________________• Petnet+63 2 364410711th Avenue Cor M. H. Del Pilar Street, Unit EKalookan City1400Metro Manila________________________________________• Petnet+63 2 2888343A Mabini Street Corner JP Rizal Street, Maypajo, Beside Hardware StoreKalookan City1410Metro Manila________________________________________• RCPI (USSC)+63 2 3661916Rizal Ave Ext 1619, Grace Park, Beside Equitable PCI BankKalookan City1400Metro Manila________________________________________• RCPI (USSC)+63 2 3675230Rizal Avenue, Unit 12 Block A1 G/L 1, Inside Grand Central MallKalookan City1400Metro Manila________________________________________• RCPI (USSC)+63 2 9620427Camarine Rd. Cor. Zabarte, Basement Zabarte Town Center, North Caloocan, Fronting Metro BankKalookan City1400Metro Manila________________________________________• RCPI (USSC)+63 2 4493613Rizal Avenue, Stall 1a West Phase Lrt North Monumento, Inside LRT Monumento StationKalookan City1400Metro Manila________________________________________• RCPI (USSC)+63 2 4493613Rizal Avenue, 2/F Sc8 Araneta Square Mall, Near Bonifacio Monument CircleKalookan City1400Metro Manila________________________________________• RCPI (USSC)+63 2 4493740Benin Street Cor Maximo Street, Unit 2B Ever Grand 2 Mall, Near Back Entrance of Ever Grand CentralKalookan City1400Metro Manila________________________________________• RCPI (USSC)+63 2 4493740Mabini Street Cor J.P. Rizal Street 192, Maypajo Caloocan, Besides Video CityKalookan City1410Metro Manila________________________________________• RCPI (USSC)+63 2 4493888Rizal Avenue 717, G/F CS - 26 Victory Central Mall, Beside Victory Liner Bus TerminalKalookan City1400Metro Manila________________________________________• Robinsons Savings Bank+63 2 3634654Rizal Avenue 478, G/F Dona Lolita Bldg., Infront of May Bank Near HSBCKalookan City-Metro Manila________________________________________• Villarica Pawnshop, Inc.+63 2 3662085Rizal Avenue Extension 433-437, G/F Genato Bldg, Grace Park, Beside Ministop, Infront of JackmanKalookan City1400Metro Manila________________________________________• Villarica Pawnshop, Inc.+63 2 9610921Camarin Road, Block 1 Lot 2 Almar Subdivision, Infront of Andok's LechonKalookan City1422Metro Manila________________________________________• Villarica Pawnshop, Inc.+63 2 3622116Bonifacio Monumento Circle 274, LDC Bldg., Monumento Circle, Infront of Mercury DrugstoreKalookan City1400Metro Manila________________________________________• Villarica Pawnshop, Inc.+63 2 3618470Rizal Avenue Extension 562, Near JackmanKalookan City1400Metro Manila________________________________________• Villarica Pawnshop, Inc.+63 2 3656087EDSA, G/F Bonifacio Market, Monumento, Monumento CircleKalookan City1400Metro Manila________________________________________• Villarica Pawnshop, Inc.+63 2 9628127Phase 2 Package 1, Block 4 Lot 17, Bagong Silang, Home Along EnterpriseKalookan City1428Metro Manila________________________________________• Villarica Pawnshop, Inc.+63 2 2855019A. Mabini Street 461, Near City Hall, infront of Banco De OroKalookan City1400Metro Manila________________________________________• Villarica Pawnshop, Inc.+63 2 9372660Deparo Road 144, Barangay 168, Deparo Unit 2, Infront of Graceland AcademyKalookan City1400Metro Manila allowfullscreen="" frameborder="0" height="325" src="http://ww[...]

Organize Your Personal Finance

Wed, 10 Apr 2013 22:31:00 +0000

It is vital to organize our personal finance so that we can hurdle the pain of paying interests which can cause burden in our financial stability as a working people . There are issues that we can do to avoid financial impediment.Pay the balance of your high interest credit cards first. Come up with a plan for how much money you can put towards your credit card debt each month. In addition to making the minimum payments on all your cards, throw the rest of your allocated sum at the card with the highest balance. Then move on to the next highest balance and so on.Photo Credit: HSfundingCoffee is something that you should try to minimize in the morning as much as possible. Purchasing coffee at one of the most popular stores can set you back in your pocket per day, based on your purchasing occurrence. Rather, drink a glass of water or munch on fruit to give you the power you need.Tend not to leave your wallet or purse unmonitored. While thieves may not take your cards for a spending spree, they can capture the information from them and use it for online purchases or cash advances. You won't know it until the money is gone and it's too late. Keep your financial information close at all times.Even in a whole lot of internet banking accounts, you ought to be handling your checkbook. It is very easy for circumstances to go missing, or to definitely not understand how significantly you've put in a single four week period. Employ your internet checking details as an instrument to stay every month and accumulate all of your debits and credits the existing customary way. You can catch mistakes and errors that happen to be advantage, in addition to safeguard yourself from misleading fees and identity theft.Get a checking account that is free. Paying fees to access your money can cost you quite a bit in the long run. Many banks are doing away with free accounts, but a little leg work will help you find what you are looking for. Avoid losing hundreds of dollars to fees every year. [...]

Fonmoney - a new way to remit to the Philippines

Thu, 28 Mar 2013 23:35:00 +0000

Today Filipinos have a wide range of methods of sending money home to the Philippines. You can use traditional ways such as Western Union or MoneyGram. These institutions are represented around the world, but they don’t come cheap. Usually they have minimum fee for any transaction and vary from where you send money. Fonmoneyoffers Filipinos an interesting alternative to send money home to their peers in the Philippines. The online service provider allows its customers to send money home by recharging a phone in the Philippines. You can either charge 300 PHP, 600 PHP and even 1000 PHP. The advantages of Fonmoney over traditional remittance services, are that you receive the money instantly and that they charge a fee of around 10%, which is way below industry standards. Furthermore, you can load a phone without having to register or even owning a bank account or a credit card. You can pay 100% anonymously with a paysafecard, which is a online payment method that can be purchased at convenient locations around the globe. Further, you do not have to go anywhere to send money to the Philippines. All you need is an Internet connection to load a cellphone from anywhere in the world. On Fonmoney, you can recharge the mobile operator Globe, Smart Communication and Sun Cellular. Once the mobile load arrived the load can be shared and distributed to other cellphones or used to pay for services or goods. Smart offers a service called Pasaload that allows Smart users to send mobile load from one Smart phone to another Smart phone. Globe offers a similar service called Share-a-loadfor a maximum fee of 1.00 peso. [...]

Find Out the Essential of Financial Business for OFW

Sun, 04 Nov 2012 01:01:00 +0000

Working abroad is not easy. Many things have to sacrifice when you are a way from home just to sustain the needs of our family. Some of our fellow Kababayans want to go back and be with their love ones but they don't have enough information on how to start a business.

We are hoping that you will find time to watch this video on financial business for OFW. This will pave the way of considering this opportunity and start working out this financial opportunity.

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Five Golden Rules of Good Investing

Fri, 02 Nov 2012 15:39:00 +0000

There are things that you need to consider before putting your time and finances in the investment industry by reading the five golden rules of good investing. You need to consider basic tools and ideas in this field of financial development to avoid failure. It requires solid foundation of techniques and strategies so that your decision will lead to success and fulfillment in your finances.Listed below are common suggested golden rules of investing:1   1.    Never doubt your investment plan2   2.    Choose long-term investment method3   3.    Go for stocks investment4   4.    Personal assessment of finances is  recommended5   5.    Ask profession advice from financial adviserWhen you start your investment, do not doubt your decision to do this attempt. You choose this so let your determination be your guide to put your investment plan in action. It is a matter of pursuing things that will give you benefits on your action.While you are in the process of investing your time and money, choose long-term investment. Do not be deceived by a short term investment. All you have to remember that your investments over a long period of time will increase rapidly. Go with the long term return of your investment and be wise enough to assess your finances as you continue your attempt in the long term investment on stock market.It is practical to check your allotted capital budget on investment. Never find a budget that is beyond your present income and financial resources. Be wise and practical. Borrowing money which is not align in your resources could create another financial chaos.Now, if you have difficulties all about your long term investment on stock market, don’t hesitate to ask for help. There are investment services run by corporate or independent financial advisers that will assist investors to figure out their uncertainties.Good investment is a choice and it needs concrete guidelines to let you drive properly in your financial opportunity and gain fluid income. To become fully successful in your investment attempt is to continue applying these set of rules that is being mentioned in the five golden rules of good investing on your finances. [...]

Learn the Definition of Investment Easily

Tue, 18 Sep 2012 18:24:00 +0000

There are two basic forms to identify the correct and easy understanding of what an investment is. Below are the two form:1. Investment can be the purchase of goods, supplies, tools, or equipment to use in the production of increasing profits.  For example, a businessperson who produces shoes may purchase a machine that automatically stitches leather in the hopes that the time saved will allow for the production of more shoes and increased sale.  2. Investment can take is what most of us think of when we say we are investing our money.  That is, we use the money we have for the specific purpose of making more money from i.    Different ways of Investing Moneya.Stocks and bondsb.Exchanging currencies in the Forex market c.Annuities d.Certificates of deposit e.Mutual funds f.Buying real estate g.IRA h.Simple savings accountsIt is sad to say that the riskier the venture is, the more opportunity there is to make a higher profit. On the other hand, the less risky, the lower the proceeds.  The FDIC guarantees savings accounts and therefore, putting your money in a savings account with the idea that you will get a fantastic return on your money is not very realistic.  A savings account has little to no risk whatsoever; therefore, the return on investment is weak.  Of course, it’s always a good idea to have liquid assets, and a savings account is one way to do so.  Most middle-class Americans should have enough in their regular savings account to tide them over in the event of an emergency or job lossPurchasing stock in a company makes you part owner of that company.  The two ways to make money from owning stock are to secure dividends and/or sell the stock for a higher price than what you paid for it.  Sounds simple, right?  Well, the basic concept is quite simple; it’s the day-to-day reality of the stock market that makes this type of investment a bit more complicated.  There is no guarantee whatsoever that the stock you choose will make a profit.  In fact, you can easily lose your entire investment.  The potential for a tremendous profit exists, however, if the stock (company) hits the big time.  If you really want to make money, you need to decide which investment method that you are going to follow, the former method or the latter one. It is your choice depending on the risk but the result will be a successful effort or the opposite of what you would experience. To start investing your money and other resources and you are ready enough to venture this return on investment or ROI method, find a professional investment agency and give you a solid guide to start making yourself some money. [...]

Creating an Effective Financial Budget

Wed, 25 Apr 2012 18:52:00 +0000

For many people, even those with good spending habits, creating and sticking to a budget may seem like a significant challenge. Learning to budget wisely, however, isn’t just a tool for getting by from month to month. Good budgeting is the first step towards financial stability, both now and in the future. Before getting started, it’s important to recognize that creating a personal budget can seem overwhelming. Coming up with an effective plan requires taking a clear, serious look at your existing financial situation. Skipping or glossing over this step may be tempting, but this choice most often leads to budgets that are just ineffective. When it comes to sticking to a budget, life inevitably gets in the way, and when an unexpected expense arises budgets can quickly lose priority. This ultimately defeats the purpose of a good, workable budget; leading to overspending that lays the groundwork for future financial difficulties. Creating an effective budget doesn’t have to be difficult. The key, as in most every worthwhile endeavor, is proper planning. After putting a good budget in place, the next step is committing to reach clear, realistic budget goals. Here are a few tips for getting started Determine Where You Stand For most people, with the arrival of each month comes the arrival of expenses. Start by listing all regular, predictable monthly expenses. Examples of predictable monthly expenses include mortgages and car payments. For expenses that may vary throughout the year, like utility bills, groceries, and fuel costs, make a close estimate of the typical amount spent. After listing all expenses, compare that amount to the household monthly income. Expenses should not outweigh income. If that’s the case, take a close look at all monthly expenses to see where spending can be reduced in any category. Even when income exceeds expenses, taking time to consider where spending can be cut to free up funds for savings and investments in the future. Adjust Your Spending After determining where the overspending happens, it’s time to adjust spending habits. This may seem challenging at first, but finding viable ways to reduce spending is the most important step in the budgeting process. Consider investing at least 10% of each paycheck in savings as an important long-term goal. Get Everyone Involved When creating a budget for an entire household, getting everyone in that household involved in the process substantially increases the odds for success. Involving spouses and children helps everyone feel more in control and may reduce future conflicts over spending choices. Plus, it’s never too early to educate children about the power of good money habits. Take Time to Keep Track Make a weekly appointment to review budget goals and to adjust spending accordingly. Keeping this appointment is crucial to success, so find way to make the experience as pleasant as possible. Be sure to share these findings with all members of the household. Don’t Forget Fun While the initial effect of a budget may be that money for fun seems to disappear, good budgeting can eventually re-open that door. Proper financial management reduces wasteful spending, but it also increases financial organization. Eliminating overdrafts and late fees, frees up household funds for the occasional splurge. Good budgeting can’t be successful if everyone involved always feels deprived. For more information about smart budgeting and other good financial options, visit As a payday loan industry leader and founding member of the CFSA, Check ‘n Go is committed to increasing consumer awareness and promoting high ethical standards within in the payday loan industry. by: Christy Belden  About The AuthorChristy Belden works in interactive marketing for Leapfrog Interactiv[...]

How To Become Wealthy At A Young Age: 3 Wealth Building Tips To Remember

Tue, 27 Dec 2011 14:21:00 +0000

by: Michael LeeWant to know how to become wealthy at a young age? Then this article might help. I’m not talking about young heirs or lottery winners. I’m talking about self-made names like Mark Zuckerberg of Facebook and Chad Hurley of Youtube. Guys like them have made it big time despite their relatively young age! If you want to learn how to become wealthy at a young age, break the barriers and see where life brings you, then these tips might help: Wealth Building Tip # 1: Know Your Passion. Following your passion is one thing. Knowing what it is in the first place is another. Most of the time, people aren’t even aware of how much they can do with their talents. For example, you might see your daily musings on your blog as just everyday recollections; but to others, you might have the potential to become the next J.K Rowling or the next John Grisham. Sometimes, we just don’t appreciate what we have until somebody else points it out for us. It’s a matter of awareness. Everybody is talented and passionate about something. Take time off to see what yours are. Wealth Building Tip # 2: Open Your Own Shop. Many people who become wealthy at a young age attained their status by starting their own business. You can get a job with a high-ranking position and a good salary; but in the end, you’re still just an employee. By starting your own business, you get to call the shots. As for the profits – the sky's the limit. However, opening your own shop can be risky, too. After all, you’re putting yourself on the line here. Be smart with your decisions and investments. Get professional advice as much as you can before embarking on any business venture. Wealth Building Tip # 3: Use Your Money Wisely. If you want to become wealthy at a young age, you need to understand the importance of proper financial education and management. Even if you may have a lot of money now, you can lose them in the blink of an eye if you're not careful with your budgeting and financial decisions. Learn to manage your money properly. Set aside a certain portion for savings and emergency purposes, a portion for investment opportunities, a portion for self-development, a portion for charity and a portion for your expenses. And when it comes to using money, don’t put all your eggs in one basket. It never does anybody any good to be frivolous when one’s wealth is at stake. These are just some of the proven tips on how to become wealthy at a young age. Everybody has their own strategy of course, but it wouldn’t hurt to stick by these three very important points. Who knows, you just might end up on the next Forbes list. About The AuthorWant to discover more secrets to attract unlimited wealth and prosperity to your life? Want to know how to become wealthy just by making small changes in your thinking? Go to [...]

How To Become Rich With No Money: 3 Wealth Building Tips Anyone Can Do

Tue, 27 Dec 2011 14:18:00 +0000

by: Michael LeeLearning how to become rich with no money is one of the greatest (yet simplest) financial secrets of all time. It’s like producing bunnies out of a hat. At first glance, it seems like an impossible thing. But upon closer inspection, you realize just how easy the trick is. If you want to know how to become rich with no money, read on! Wealth Building Tip # 1: A Skillful TradeWho needs money when you have skills? Don’t sound so surprised. The skill trade has been a part of history since the ancient times! Money isn’t the only thing that runs a nation. In 19th century Europe, sons and daughters with dwindling accounts were still considered good marriage prospects as long as they came from titled families. Being titled might not exactly be a skill per se, but it was generally sought after by everybody then. The same principle holds true today. In business, there are those who invest their money and there are those who invest their skills. These skills can range from something like cooking or singing, to something like marketing or managing. If you want to become rich with no money, make sure you have something of worth to offer. Wealth Building Tip # 2: Work, Save, Invest Hard work and patience are two things that can make even a man with no money rich. Even if you’re just a regular employee at a company, you can easily work your way up the ladder of financial success. A lot of people call this investing in your career. Do your job well and get promoted. However, you also have to learn how to save. To tell you the truth, you probably don’t need half of what you’re spending your wages on anyway. Be frugal with your cash. Set aside money for retirement, for investment and for emergencies. You need to get yourself some financial education. Learn ways to make the most out of the available cash you have. Read books on investment and growing your money, so that your financial assets can produce good returns instead of just lying around. Wealth Building Tip # 3: Buy and Sell A lot of people who became rich with no money started with the buy and sell business. The concept is simple. Buy it cheap and sell it big. If you’re completely new to this thing, why don’t you start with items that are already inside your house? Did you get two of the same gifts for your birthday? Don’t hesitate to sell one of them on eBay. Do you have a ton of junk in your garage? Hold a garage sale and make money out of your trash. Now that you know how to become rich with no money involved, I will leave it to you to decide how you'll get started.Want to discover sensational secrets to attract unlimited wealth and prosperity to your life? Want to know how to become wealthy just by making small changes in your thinking? Go to [...]

Family Financial Goal Setting

Tue, 27 Dec 2011 14:09:00 +0000

by: Vince ShorbAs most of us understand, written goals can be a powerful force that changes your life for the better. Discover how combining your personal goals with your families goals to reach your dreams. When the entire family is working toward one goal you will be pleasently suprised on how fast you will see results. What's more, when the entire family unit is working toward financial goals it can be a bonding experience that everyone will appreciate. Working toward family financial goals brings families closer together. You will find that your family will begin to operate as one unit in order to reach those financial goals. Many top business organizations, sports teams, charities and sororities share common financial goals that bring everyone involved closer together. It works for them so let the power of family financial goals work for you. What family goals to set. Family goals should be set for all areas of your life including: health, personal development, spiritual/ religious and life goals. This article will focus on family financial goals; however you can easily adopt the techniques to cover the remaining areas of your life. Once more, each individual person in the family should set their own personal goals and have full support from the family. By setting family financial goals and working as a family to achieve financial freedom everyone involved gets a sense of purpose and something positive to work toward. Children, parents and other extended members of the family will all benefit from the support of working toward family goals. How to set family financial goals. Setting family financial goals begins with identifying objectives that your family wants to accomplish. Take some time to figure out what motivates everyone. It could be that one family member wants to take a trip to Hawaii, another wants a nice dinner once a week, and yet another person in the family wants to cut a few years off their retirement schedule. Find out what everyone dreams about because this will help you understand each others goals and you'll become closer because of it. Once you have an understanding of what each family member wants it time to align your goals. Maybe you want to learn more about making investments, want to increase your 401k savings, would like that new car, or just want to have more money for a rainy day. The bottom line is that everyone in the family has to do their part. When everyone works together with a common goal of achieving financial freedom then everyone's life improves. The ability to set family financial goals and achieve family goals will improve every aspect of you personally and your family as a whole. Family Financial Goals That Work. There are effective goal setting techniques available that will allow your family to maximize the effectiveness of your financial goals. One helpful technique to aid in accomplishing your goals is to set them using the S.M.A.R.T method. - S ' Significant & Specific. The more detailed you are able to make your family goals the closer you are to achieving them. This gives you a clear target to shoot for and when you see what you're aiming at you have a much better chance at hitting the bull's-eye. Be sure to make your family financial goals significant. They must mean something to your family so that they are motivated to reach them. Setting a goal of saving for a gallon of gas probably won't motivate people but if it was to save gas for a weekend trip now that's another story. Remember kids, teens and young adults are motivated by lifestyle not money. So be sure to relate money to being able to afford the type of lifestyle your family wants to live. - M - Motivational & Measurable. Creating measurable goals will allow your family to celebrate when you acheive them. This makes goal setting f[...]

Anti-Money Laundering

Tue, 05 Apr 2011 07:58:00 +0000

In order to implement its continued commitment and support of the global fight against money laundering, the BSP has issued a number of measures to bring the Philippines' regulatory regime on money laundering closer to international standards. In September 2001, the Anti-Money Laundering Act (AMLA) of 2001 was passed. The legislation, among others, defines money laundering as a criminal offense, prescribes penalties for such crimes committed and forms the foundation of a central monitoring and implementing council called the Anti-Money Laundering Council (AMLC). The AMLC is composed of the Governor of the Bangko Sentral as Chairman and the Commisioner of the Insurance Commission and the Chairman of the Securities and Exchange Commission as members. It acts unanimously in the discharge of its functions. To address concerns such as the high threshold level for covered transactions, the coverage of “covered institutions” and the existing Bank Secrecy Law, the amendments to the AMLA were signed into law on 7 March 2003. The amendments included the following: a) lowering the threshold for covered transactions from P4.0 million to P500,000; b) authorizing the BSP to inquire or examine any deposit or investment with any banking institution without court order in the course of a periodic or special examination; and c) removing the provision prohibiting the retroactivity of the law. With the approval of the law incorporating these amendments, the Financial Action Task Force sanctions on non-complying countries were not imposed on the Philippines. However, the Philippines at that time remained in the list of non-cooperative countries and territories (NCCTs). The country’s removal from the list will be determined by the FATF after close monitoring of the implementation issues.The revised implementing rules and regulations (IRR) on the AMLA of 2001 as amended was approved by the Congressional Oversight Committee on 6 August 2003 and was implemented on 3 September 2003. In October 2003, the Philippines’ amendments to the AMLA were evaluated by the FATF and were found to be at par with international standards. On 11 February 2005, the Philippines, Cook Islands, and Indonesia were removed from the list of NCCTs during the meeting of the FATF. After the country’s delisting from the list of NCCT’s, the AMLC of the Philippines is now one of seven new members of the Egmont Group, the global network of FIUs against money laundering and terrorist financing, making the Philippines an equal partner in the global fight against money laundering and terrorist financing. Membership to the Egmont Group means affording AMLC free and unlimited access to a wealth of financial data contained in the databases of all the FIU-members of the group. All information exchanged by FIUs are subjected to strict controls and safeguards to ensure it is used only in an authorized manner, consistent with national provisions on privacy and data protectionSOURCE: BSP [...]

What Is Microcapital?

Thu, 10 Feb 2011 00:32:00 +0000

In the Philippines, the concept of "microcapital" is almost completely unknown. Also known as micro-equity, or micro-venture capital, microcapital is an investment in a micro-enterprise, such as an eatery, a tailoring shop, or a sari-sari store.It is fundamentally different from microlending.In exchange for receiving the microcapital investment, the business owner agrees to let the investor partly own the business. Part ownership is known as equity.The benefits of this arrangement are numerous.The business gains the capability it needs to compete more aggressively and serve customers better, in the form of new equipment, premises, or technology. The business is now able to add more value to the economy, and generate more profits.The business owner does not incur any debt. In the event of a calamity, such as flooding, a fire, or illness, the owner does not end up being indebted without the means to pay off the debt. Profits are shared with the investor if profits are made; if no profits are made, there is nothing to pay.The investor, meanwhile, is not limited to earning a fixed amount of interest. Return on investment is open-ended and unlimited. The business can go on generating income for years, and the investor continues earning from the microcapital investment many years after any debt would have been paid off.If a borrower of a microloan defaults on a payment, the repayment rate for the lender drops, and the lender is in immediate risk of losing money. Just a few defaulting borrowers are enough to put the lender into the red. Therefore, the investor must be ultra cautious when lending money.In practice, this means that lenders rely on collateral. Just as banks require deeds to property or vehicles, or pawnshops require tangible assets such as jewelry or electronics, so do microlending operations require borrowers to be part of Mutual Guarantee Associations or Joint Liability Groups.Joint Liability Groups are associations of 15 or more members, who all agree to be responsible for each other. Therefore, members work hard to repay their loans, in order not to let the other members of their group down. Joint Liability Groups are an excellent way to ensure high repayment rates in the absence of collateral.But for most micro-entrepreneurs, becoming a member of a Joint Liability Group is impractical, since it takes time and energy to find or set up a Joint Liability Group. In the Philippines, setting up such groups is cumbersome, time-consuming, and expensive [1].If you own a sari-sari store, and can only avail of a microloan if you are a member of group consisting of yourself and a large group of other borrowers, it may take years of negotiating and persuading and waiting to finally qualify for a loan. And in most cases, there is no need, since the 5-6 moneylenders are available [2]Microcapital investments, meanwhile, can be given out much more freely than microloans. Just one or two highly successful investments can easily subsidize all other investments. Even if 80 percent of investments fail, the 20 percent that do succeed can generate strong profits, covering the investments in the failed businesses as well as future investments.This is a huge difference: microlending requires 90 percent of all borrowers to repay their loans, while microcapital requires only a small percentage of all entrepreneurs to succeed. Microcapital investors can take bold risks, and the entrepreneurs have the freedom to be creative and innovative.Venture capital funded and drove many of the most successful American companies, such as Apple, Microsoft, Google, and so on. There is no reason why the same princple of venture capitalism cannot be applied to micro-businesses in the Philippines.Unlike microlending, microcapital ha[...]

SSS Business Loan

Thu, 10 Feb 2011 00:24:00 +0000

The SME Unified Lending Opportunities for National Growth (SULONG) Program by government financial institutions (GFIs) designed to give small and medium enterprises (SMEs) greater access to short and long term funds. The program has a total fund allocation of P100 Million. The program has a total fund allocation of P100 million.How can an SSS member avail himself of the loan program?The loan facility is available thru SSS-accredited participating financial institutions (PFIs)/banks which will on-lend the fund to eligible borrowers for financing.For what purposes may the loan be used?The loan may be used for the following purposes:For Short-term loans:• Export financing (Export Packing Credit)• Temporary Working CapitalFor Long-term loans:• Purchase of equipment• Building construction• Purchase of lot• Permanent working capitaWho may borrow under the program?Eligible borrowers shall be existing private enterprises with the following qualifications:• enterprises in all industries except trading of imported goods, liquor, cigarettes, and extractive industries like mining or quarrying;• are at least 60 per cent Filipino owned;• enterprises with asset size of not more than P100 million, excluding land;• have positive income for the previous year. If the previous year's income is negative, the average income of the past 2 or 3 years should be positive;• have debt-to-equity ratio of not more than 80:20 after financing, or 70:30 if borrower is a franchisee;• are SSS member-employers of good standing.How much is the loanable amount?For short-term loans, the program can fund up to 70% of the value of the Letters of Credit or Purchase Order for export packing, or 70% of the working capital requirement up to P5.0 million. For long-term loans, the program can fund up to 80% of the incremental cost, up to a maximum of P5.0 million. [...]


Sat, 22 Jan 2011 00:25:00 +0000

In its continuing commitment to helping Filipinos abroad send remittances to their families back home, ABS-CBN Global, a wholly-owned subsidiary of ABS-CBN Broadcasting, launched ABS-CBN EasyRemit. ABS-CBN EasyRemit, under the corporate name of “E-MoneyPlus, Inc.” is the remittance services arm of ABS-CBN Global duly licensed by the Bangko Sentral ng Pilipinas. Committed to serving Global Pinoys worldwide, the company has established partnership arrangements with reputable remittance centers and financial institutions in countries with large concentration of Overseas Filipinos Workers (OFWs). “Over the years, EasyRemit has made significant strides in providing Filipinos living and working abroad with an efficient remittance fulfillment service. EasyRemit has various remittance tie-ups with banks and exchange houses in Saudi Arabia, United Arab Emirates, Kuwait, Lebanon, Australia, Singapore and Hong Kong. It will also serve as the fulfillment arm of the remittance business of ABS-CBN Global in North America and Australia regions. EasyRemit’s payout agents in the Philippines include Cebuana Lhuillier, M Lhuillier, and Banco de Oro (BDO) and SM (Shoemart) counters, which are open after the regular banking hours and even during weekends and holidays. In addition to the already extensive pick-up outlet network, EasyRemit’s remittances can be claimed in all branches of UCPB, Bank of Commerce, Philippine National Bank, and One Network Bank. EasyRemit also implements almost immediate credit to bank accounts maintained with most major Philippine banks. Its door-to-door service covers the entire country, reaching out to beneficiaries who prefer this time-tested remittance paymode. Beneficiaries also receive an instant SMS/text notification and are greeted by our friendly kababayan customer service agents, ready to help them claim their remittance or padala. Soon, EasyRemit will be able to receive and process bills payments for Meralco, Maynilad, credit cards, among others, For more detailed information about ABS-CBN EasyRemit, interested parties may call us at 632 4125003, 632 4120047 +63920 9097534 or visit our new office at the ground floor of ELJ Communications Center Building, 9501 Eugenio Lopez Drive, South Triangle, Quezon City, Philippines. We are also looking for licensed remittance partners abroad who will share our passion for serving Filipinos worldwide. If you are interested in a remittance partnership, please email: ABS-CBN GLOBAL [...]

World Bank expects OFW remittances to hit $21.3B

Fri, 19 Nov 2010 02:38:00 +0000

BusinessWorld Online, November 19, 2010 REMITTANCES from overseas Filipino workers (OFWs) are expected to hit $21.3 billion this year, the World Bank said, placing the Philippines among the world’s top five recipient nations. India is expected to top the 2010 list at $55 billion, followed by China ($51 billion), Mexico ($22.6 billion), the Philippines, and France ($15.9 billion). Rounding out the top ten are Germany ($11.6 billion), Bangladesh ($11.1 billion), Belgium ($10.4 billion), Spain ($10.2 billion) and Nigeria ($10 billion). OFW remittances totalled $19.77 billion last year. The tally as of August 2010 was $12.18 billion, latest central bank data show. Globally, inward remittance flows from all developing countries are estimated to hit $440.1 billion, 5.79% higher than last year’s $416 billion, the World Bank said in its Outlook for Migration and Remittance Flows Factbook 2011. "Officially recorded remittance flows to developing countries are estimated to increase by 6% to $325 billion in 2010. This marks a healthy recovery from a 5.5% decline registered in 2009," it said. "Remittance flows are expected to increase by 6.2% in 2011 and 8.1% in 2012, to reach $374 billion by 2012." It added, however, that final results remained subject to the risks of a fragile global economic recovery, volatile currency and commodity price movements, and rising anti-immigration sentiment in many destination countries. "From a medium-term view, three major trends are apparent: (a) a high level of unemployment in the migrant-receiving countries has prompted restrictions on new immigration; (b) the application of mobile phone technology for domestic remittances has failed to spread to cross-border remittances; and (c) developing countries are becoming more aware of the potential for leveraging remittances and diaspora wealth for raising development finance," the World Bank said. The Philippines was ranked 10th in a list of top emigration countries which also included Mexico, India, Russia, China, Ukraine, Bangladesh, Pakistan, the United Kingdom and Turkey. It also ranked 10th in the top migration corridors with emigrants going to the United States. As of this year the Philippines had a total of 4.28 million emigrants, accounting for 4.6% of its population. Top destinations were the US, Saudi Arabia, Canada, Malaysia, Japan, Australia, Italy, Qatar, the United Arab Emirates and the UK. -- Jo Javan A. Cerda Source: BusinessWorld [...]

BDO Remit Cash Card

Fri, 12 Nov 2010 05:01:00 +0000

Receive your remittance through BDO Remit Cash Card. An electronic ATM and Debit card in one. The fastest way to receive remittance!ATM CARD. Withdraw remittance from over 6,000 BDO, Expressnet and Megalink ATMs.DEBIT CARD. As good as cash! Use the card to purchase goods at more than 10,000 accredited merchants nationwide:SM Dept. Stores Super Sale Club Baby Co.SM Supermarket SM Foodcourt (at selected outlets)SM Appliance Center Surplus ShopSM Hypermart Factory Sale OutletSM Cinema A Discount ClubSavemore Supermarket SM Bowling CenterWatsons Sports CentralToy Kingdom Hardware WorkshopAce Hardware KulturaOur Home SM Ice SkatingUse BDO Remit Cash Card to LOAD YOUR CELLPHONE via ATM machineHow to apply for BDO Remit Cash Card1.Visit a BDO subsidiary office or accredited tie up* abroad.2.Fill up a BDO Remit Cash Card Application Form and purchase the card.3.The card will be delivered to the address of your beneficiary.4.Send remittance of up to P100,000 by loading the card at any BDO Remittance office or accredited tie-up. [...]

Asenso Kabayan Program

Fri, 12 Nov 2010 05:00:00 +0000

BDO Asenso Kabayan Program was created to help fulfill every Overseas Filipino's dream of providing a better life for their families back home. The program aims to encourage OFWs to manage their finances through savings and investment.By opening a Kabayan Savings account, our kababayans are given easier access to Asenso Kabayan's loans, insurance and investment opportunities, despite working abroad. * Opening a Kabayan Savings Account is easy and hassle-free!Only Php50 for peso account with MasterCard ATM Debit Card and PassbookOnly USD100 for dollar account with passbookFor seafarers employed by BDO accredited shipping companies, open a BDO Kabayan Shipping dollar savings account for only USD10, with passbook.Requires only ONE (1) valid ID to open an account (For Kabayan Shipping) dollar savings account, a valid seaman's book is requiredNO Maintaining balance with at least 1 remittance transaction in a year.Withdraw ANYTIME from over 6,000 BDO, Expressnet and Megalink ATMs nationwide.Asenso Kabayan allows OFWs to make loan and insurance payments through their Kabayan Savings accounts with an Auto-Debit Arrangement (ADA), which is convenient and hassle-free. [...]

BPInoy Savings

Fri, 12 Nov 2010 04:58:00 +0000

Your beneficiary in the Philippines eagerly awaits your remittance for day-to-day expenses or to add to his savings for the future. Your BPInoy ATM Savings account and that of your beneficiary is your passport to fast and safe remittances through a direct credit to an account.BPInoy Savings account offers you the following benefits: * No initial deposit required. * No maintaining balance required as long as there is a remittance transaction at least once every 6 months. * Earn higher interest, better than any other regular savings account. * Access your account through over 9,000 Expressnet, Bancnet, and Megalink ATMs nationwide. * Withdraw cash from over 1 million Cirrus-affiliated ATMs in over 210 countries worlwide in the currency of the country you are in. * Enjoy cashless shopping via the Express Payment System (EPS) at accredited establishments nationwide. No enrollment required. * Monitor your account balance, transfer funds, pay bills or reload cellphones through BPI ATMs, BPI Express Phone, BPI Express Online or even via your cellphone with BPI Express Mobile. * Open an account from anywhere in the world -- online.Source: BPI Direct [...]


Fri, 12 Nov 2010 04:56:00 +0000

AustraliaJalandoni Money Changer and Remittances331 Lirio St., Palm Village, Makati City Tel: +632 8950415PayshieldMt Druitt NSW 2770, Sydney, AustraliaTel: +612 9832-0001PesoePadala18/32 Sherwood Road, Merrylands NSW 2160, Sydney, AustraliaTel: +612 8004-9479BruneiBOZA Co. Philippine Remittance (through tie-up with Pinoy Express)No T1-22, Tingkat 1, Bangunan Pusat Komersial dan Perdagangan Bumiputera, Jalan Cator, Bandar Seri Begawan, Brunei DarussalamTel: +673-222-1987HongKongBHF Hong KongShop 328, 3/F World Wide Plaza19 Des Voeux Road, Central HKTel: 2522-2071CashSenseShop 357, 3/F World Wide Plaza19, Des Vouex Road, Central HKTel: 2110-1507/1508Elite Express 3/F Unit 5&7, ph2 Newport Centre,116 Ma Tau Kok rd, Tokwawan, Kowloon, Hong Kong+85-2365-3655Shop 343, 3/F World Wide Plaza19 Des Vouex Road, Central HKPinoy ExpressCentral OfficeShop 355 2/F World Wide Plaza 19 Des Voeux Road, Central HKTel: 2167-8895 / 2167-8845Hung Hom OfficeShop F8 1/F Planet Square, 1-15 Tak man StreetHung Hom, KowloonTel: 2330-7112Ma On Shan OfficeShop 55 1st Floor Fu Fai GardenMa On Shan, N.T.Tel: 2697-6092Yuen Long Office1/F 4 Tung Yik Bldg., Yu King SquareTai Tong Road, Yuen Long, N.T.Tel: 2443-2412 / 2443-2524Lamtin OfficeShop 7B Laguna ArcadeLaguna City, LamtinTel: 2717-3302 New ZealandGlobal Smart Remittance95 Frobisher Street, Island Bay, Wellington, New ZealandTel: 64-2189-9094PalauPinoy ExpressTsueneo Professional Building Ikelau, Koror, Palau 96940Tel: +680 488-3559SaipanAsia Pacific Express (APEX) RemittanceBeach Road, Chalan, Kanoa, SaipanTel: +670 245-5006/7SingaporeBrunphil Express304 Orchard RoadLucky Plaza Unit #02-83Singapore 238863Tel: 6375-2604/2605Kabayan Remittance304 Orchard Road, Lucky Plaza Unit # 03-25/ 03-26Singapore 238863Tel: 6836-6326Pinoy Express304 Orchard RoadLucky Plaza Unit # 02-47Singapore 238863Tel: 6737-9467/ 6737-9102TaiwanElite Express45 Chung Shan N. Road, Sec. 3, Taipei, Taiwan, R.O.C.Tel: +886 2-2595-8686United Arab EmiratesDinar Exchange Company (through Tie-Up with Pinoy Express)Al Khaleej St., Deira, Dubai, UAE (Opposite Hyatt Regency)Tel: (0971) 509-409743SwitzerlandPinoy Asian StoreGubelstrasse 2, CH-8050 Zurich/ OerlikonSwitzerlandTel: 043 333-4140/43 United KingdomLondon Manila-Express Ltd.2nd Floor, 109 Gloucester Road, London SW7 4SS, United KingdomTel: 020 7373-6690Safe Transfer Limited44 Poland St., W1f 7LZ LondonUnited StatesPhilippine Express Remittance and Allied Services (PERA)34 San Pedro Road, Daly City, CA 94014, USATel: 650-757-2001 [...]

Unionbank Remittance

Fri, 12 Nov 2010 04:52:00 +0000

Unionbank has a remittance service for Overseas Filipino abroad. The bank offers a service to cater the regular needs of a Filipino in sending money. Pinoy Money Card is the official bank card for OFW family in the Philippines.Below are the guidelines on how to make a bank to bank transaction:Receive your funds from abroad securely and safely! Your remitter abroad can send money from their bank account to your UnionBank account!Step 1: Fill Out FormYour remitter should ask his bank for a telegraphic/ wire transfer form and fill out the details below:Beneficiary Bank: Union Bank of the PhilippinesSWIFT BIC: UBPHPHMM Currency: US Dollar* Thru Correspondent Bank: Standard Chartered Bank NY SWIFT BIC: SCBLUS33 ABA Routing No. 026002561 In Favor Of: YOUR UNIONBANK ACCOUNT NUMBERYOUR UNIONBANK ACCOUNT NAME * This sample for US Dollar accounts only. To view full list of currencies in which UnionBank has accounts in and the respective correspondent banks and other details, please go to List of Correspondent Banks. Once details are taken, replace the information on the form appropriately.Step 2: Get FundsYour remittance will be credited to your account within ONE BANKING DAY** after Unionbank’s receipt of funds**Assuming details provided are correct and complete. Remitting and Intermediary Banks may have longer turn-around time which may affect the date of receipt of funds.FEES: Remitter Bank/ Correspondent bank charges may vary; UnionBank Cable Charge = $10. Documentary Stamps (if convertible to PHP): P0.30 for every PhP 200 amount converted plus PhP 0.30 for every fraction thereof. Source: Unionbank [...]


Thu, 04 Nov 2010 04:31:00 +0000

GCASH REMIT is the instant cash pick up service of GCASH. A sender may choose to send remittance from abroad through our GCASH REMIT international partners. The beneficiary can pick-up the remittance at any accredited GCASH REMIT local outlet. Recipients who are not Globe or TM subscribers can still claim the remittance.

Globe and TM subscribers instantly receive a text alert when money has been sent.


Thu, 04 Nov 2010 04:29:00 +0000

GCASH is an internationally- acclaimed micropayment service which transforms a mobile phone into a virtual wallet for a secure, fast, and convenient money transfers at the speed and cost of a text message.Since GCASH launch, GXI has established a wide network of local and international partners that includes government agencies, utility companies, cooperatives, insurance companies, remittance companies, universities, and commercial establishments which have agreed to accept GCASH as a means of payment for products and services. GCASH users may access GCASH via mobile phone or via the internet. Source: [...]

Smart Padala International

Thu, 04 Nov 2010 04:26:00 +0000

Smart Padala International is the first international cash remittance service via text. It is a faster and cheaper way of remitting cash from a sender abroad to the cellphone of a beneficiary here in the Philippines.How does Smart Padala work?For senders abroad:1. Go to any Smart Padala remittance partner. Fill out an information sheet about your beneficiary in the Philippines. In particular, you must know the Smart mobile number / Smart Money number of your beneficiary.2. The Remittance Center will transfer your remittance to the Smart Money number of your Beneficiary. * NOTE: if you’re using Smart Padala for the first time, your beneficiary will be assigned a Smart Money number to which the remittance will be transferred.3. After a few seconds/minutes, the Remittance Center will confirm that the transaction has been completed.For beneficiaries in the Philippines:1. You will receive a text message indicating your 16-digit Smart Money number. Another text message will be sent to confirm that the money has been received through the Smart Money number.2. To encash, go to any Smart Padala Center.3. You will be sent a Smart Money card or you have the option to get a Smart Money card in any Smart Wireless Center. Using the card, you can withdraw cash in any Banco de Oro, Expressnet or Megalink ATM’s nationwide.*How to get a Smart Money Number?For Smart Super SIM 3 users:1) In your Smart celfone, go to Smart Menu and click Smart Money2) Choose Activate Card3) Enter your desired 6-digit w-PIN twice.4) You will receive a confirmation message with your activated 16-digit Smart Money Number.For Smart Super SIM 1 & 2 users:1) Text MONEY to 3432) You will receive a confirmation message with your 16-digit Smart Money Number.3) In your Smart Celfone, go to Smart Menu, select Activate card and enter your Smart Money Number.4) Name the card & confirm activation5) Enter default PIN (123456) then enter your new PIN.Source: [...]

Metrobank OFW Account

Mon, 25 Oct 2010 22:44:00 +0000

An ATM savings account offered especially to overseas Filipinos and their beneficiaries. Initial deposit is only P50.00, with no maintaining balance.*You can withdraw your money at over 803 Metrobank and 8,000 Bancnet, Megalink and Expressnet ATMs nationwide. Shop abroad in any Maestro-accredited establishment, or get cash in Cirrus-accredited banks in the currency of the country you're visiting.FeaturePeso Savings (ATM/Passbook)Initial Deposit: PHP 50Maintaining Balance : WaivedBalance to earn InterestPHP 5,000 (E.T.)PHP 10,000 (Passbook)Auto Closure: Closed if zero balance for 3 monthsConversion to Regular AccountIf no foreign remittance for 6 monthsHow to open:1.) Just visit any Metrobank branch and present any of thefollowing identification documents:* Passport* Driver’s License* Professional Regulation Commission (PRC) ID* National Bureau of Investigation (NBI) Clearance* Police Clearance* Postal ID* Voter’s ID* Barangay certification* Government Service and Insurance System (GSIS) e-Card* Social Security System (SSS) Card* Philhealth card* Senior Citizen Card* Overseas Workers Welfare Administration (OWWA) ID* Overseas Filipino Worker (OFW) ID* Seaman’s Book* Alien Certification of Registration (ACR)/Immigrant Certificate of Registration (ICR)* Government office and GOCC ID (e.g., Armed Forces of the Philippines (AFP), Home Development Mutual Fund (HDMF ID)* Certification from the National Council for the Welfare of Disabled Persons (NCWDP)* Department of Social Welfare and Development (DSWD) Certification* Integrated Bar of the Philippines ID* Company IDs issued by private entities or institutions registered with, supervised or regulated either by the BSP (see Exhibit A), SEC (i.e., corporations and partnerships) or IC (i.e., life and non-life insurance companies).* Student ID issued and duly signed by the principal or head of the school.2.) Submit the following requirements:1. latest 2X2 picture2. Clear photocopies of the valid ID presented3. Endorsement Letter (Optional)3.) Accomplish and submit account opening application form. [...]