V. PhilPaSS REMIT Fees
The following fees are collected for each of the OFW remittances settled via PhilPaSS REMIT System and further credited by the receiving bank to the OFW beneficiary account:
- Front-end Fees
The participating banks set the front-end fees to be collected by the remitting/sending bank from the remitter.
- PhilPaSS Fees
The BSP charges the remitting/sending bank P5.00 for every transaction sent to PhilPaSS via the PhilPaSS REMIT System for transferring the funds to beneficiaries’ account with other banks.
- Back-end Fees
As stipulated in the MOA, a standard fee of P50.00 per transaction will be collected by the beneficiary banks as back-end processing fee.