The prices of products in the market commonly fluctuate, which is why we are always kept on our toes when it comes to our budget and other matters of finance. So far, 2017 has seen a couple of positive outcome, which may provide a preview of its positive outlook as well in the coming months and years. With that in mind, here are a just a few examples of the “good news” in money remittances for 2017:
1. OFW remittances hit record $2.91 Billion last March.
Yes, you’ve read that right. It’s that much. To give everyone a much statistical view, this year’s personal remittances so far booked a double-digit growth of 11.8% to a record high of $2.91 billion in March from $2.61 billion in the same month last year, eclipsing the previous record of $2.82 billion booked in December last year. When compared to a Filipino cinema movie, that equals to a box-office hit.
2. According to analysts, our remittances are expected to grow by 5% more this year.
If you think the first one was good news, then here is a better one. According to a financial analyst, the remittances by OFWs rose by 7.1% in May, rebounding strongly after a contraction in April. The May figures mean that total personal remittances for the first five months of 2017 are up by 5.2% compared to the same month last year.
3. It’s all for a good cause.
According to a recent endorsement file presented by the United Nations, “Migrant remittances lift millions of families out of poverty across the world, as well as provide invaluable support to their communities of origin. More specifically, remittances contribute to the improvement of food security, education, health, wellbeing and housing for individual families, and have a positive impact on savings, investments, and job creation in their home communities.”
4. A faster remittance processing.
Remittance centers are getting ahead of the game. Meaning, they are always on the lookout when it comes to improving their services. It is not unusual for people to choose an establishment which provides its customers with fast and easy transactions, and remitting money is now made simpler than ever. You no longer have to wait in line for a long time when sending or receiving remittances, especially when you immediately need the cash. 2017 is the year for a much improved service from money remittance centers, and receiving your money on-time is one key evidence that the improvements will not stop.
5. An expanded money remittance network.
Speaking of convenience, you wouldn’t need to go far to find a remittance center. There are various branches and expansions that happened in this year alone. Last May, the country’s most reliable and trusted money remittance company – Cebuana Lhuillier – was placed under the spotlight with its expanded domestic money remittance service through the Pera Padala Agents Network, ensuring that you will find a Cebuana branch or agent at your convenience, anywhere, anytime.
With all of these in mind, you and your loved ones are hoping for a remittance service that would only provide the smoothest transactions possible, with no hassle and delay along the way. Well worry no more, as we at Cebuana Lhuillier offer our Pera Padala Service, an easy, quick, and safe way to send and receive money. With more than 2,000 branches nationwide and more than 1 million international partner locations worldwide, this money transfer service is made available to clients within and outside the Philippines.
Image source: https://www.pexels.com/photo/space-grey-ipad-air-with-graph-on-brown-wooden-table-187041/