Remittance
OFW
Money sent home by overseas Filipino workers to their families in the Philippines, a major source of income for many households and the national economy. It can be sent through banks, remittance centers, mobile wallets, and money transfer operators, with fees and exchange rates that vary by provider and speed. Recipients may claim cash over the counter or receive funds directly into accounts and e-wallets. Choosing licensed channels helps ensure safety and better rates. Some transfers may require valid ID and recipient details. Fees, rates, and rules are subject to the latest rules/guidelines.
Related Q&A
Related terms
POEA / DMWOEC (Overseas Employment Certificate)POLO / MWOIllegal Recruiter