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.