Category: Money Remittance

Remittance firms urge dialogue with banks following Court-ordered reprieve

Sydney, 28 November 2014 –The industry body representing remittance providers, or money transfer operators (MTOs), has urged Australia’s major banks and regulators to fast-track dialogue leading to a viable operating model for the remittance industry, following the Federal Court’s granting today of an interim injunction against Westpac closing down the accounts of MTOs.

Local money transfer lifelines under threat as remitters face extinction

Hundreds of migrant communities across Australia will lose their ability to send money home to family and friends safely and securely if banks continue their plans to close the accounts of remitters. Without bank accounts in Australia, money transfer providers cannot complete the transfer of their customers’ funds to destination countries, which means that hundreds […]

Local money transfer lifelines under threat as remitters face extinction

Hundreds of migrant communities across Australia will lose their ability to send money home to family and friends safely and securely if banks continue their plans to close the accounts of remitters. Without bank accounts in Australia, money transfer providers cannot complete the transfer of their customers’ funds to destination countries, which means that hundreds […]

Copyright © 2018 Philippine Sentinel