Ang Kalatas Volume V December 2014 Issue | Page 2

02 THE MESSAGE. BRINGING INTO FOCUS FILIPINO PRESENCE IN AUSTRALIA www.kalatas.com.au | Volume 5 Number 3 | December 2014 NEWS PCC-NSW meet with industry representatives OFFICIALS of the Philippine Community Council of New South Wales led by president Jun Relunia met with industry reps recently to discuss ways to address the remittance issue that could affect thousands of Pinoys. Officials of the Philippine Community Council of New South Wales led by president Jun Relunia met with industry reps recently to discuss ways to address the remittance issue that could affect thousands of Pinoys. LIFELINE TO HOME COUNTRIES UNDER THREAT Banks to close accounts of remitters PORT PE C-N S W T O S U P PC TITION MIGRANTS across Australia who regularly remit money to their kin in their home countries may no longer be able to send money through the usual banking channels if the 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 – a situation that can have a negative impact on Filipino migrants sending support to dependents back home. In a statement issued to the media last month, the Australian Remittance and Currency Providers Association (ARCPA) called on the Filipino community to voice their concerns by signing a petition to stop the banks from closing remittance accounts. “Our members are an integral part of all local communities. They provide a safe, essential, low-cost and fast service to send funds to relatives and communities overseas, many of these transfers are a lifeline to the recipients,” said Dianne Nguyen, Director and spokesperson, ARCPA. “Our members’ services often go above and beyond the services provided by banks. In some cases we hand deliver funds in locations that are impossible to reach and where customers do not have a bank or bank account. Our services are critical to many communities, both here in Australia and overseas,” she said. The ARCPA stated that this situation is “urgent” citing that “since 2010, major Australian national and regional banks and Australian branches of foreign banks started to close the accounts of remittance providers. Westpac, the last of the major four Australian banks to offer remittance services, will close remitters’ accounts by the end of November 2014.” The banks move to close remitters accounts is “a disaster” for remittance providers as they will have no options for banking in Australia, according to ARCPA. Banks cited the risk of remittances being used for money-laundering and terrorism financing as the reason for closing off the industry, despite the average remittance transaction amounting to only AUD$300 and the majority of destination countries are considered low risk. “Our customers will be forced to pay more for expen- sive and cumbersome remittance transactions through banks or seek alternative, unregulated and underground options.” ARCPA has started discussions with the Australian Government, and is campaigning to find a collaborative solution with the stakeholders involved. Those who want to sign the petition may do it online at www.arcpa.org.au or they can visit their local money transfer business to pick up a petition letter which will then be mailed to the local MP. Members of the Australian Remittance and Currency Providers Association (ARCPA) represent regulated remittance providers (also referred to as “money transfer operators”). PCC-NSW officials are poised to support the campaign to gather signatures for the ARCPA petition. The council has posted messages to community members via FB to drum up support. “The local Filipino-Australian remittance industry will lose its last banking facility and is surviving on borrowed time. This is a regulated industry that has served the community well over the years,” an FB post from a PCC-NSW official stated. “PCC-NSW has committed to mobilise community awareness on this issue. Our fund lifeline to the Philippines is at stake. The alternative is a more expensive bank to bank transfer - huge fees which should have been put to better use by our families back home.” The PCC-NSW released a position paper on the issue. “As a state body, PCCNSW needs to articulate the common good on behalf of the community. When community interest is negatively impacted by industry poAs a lifeline issue, the ramifications and consequences of industry debanking will ultimately be borne by our families back home, some of whom may not have other family members to go for support. “It is strongly recommended that PCC-NSW use this mandate to advocate in support of the issues raised by ARCPA in ways designed to mobilise community awareness towards achieving a desired outcome mutually beneficial to all stakeholders.” The PCC-NSW hopes to support ARCPA among others through the online petition; by meeting federal politicians from all political persuasions to discuss the issue; and by raising the issue via a national engagement through its ties with the FILCCA.