MANILA, Philippines — The Senate has approved on third and final reading a measure aimed at protecting the remittances of overseas Filipino workers (OFWs) by requiring greater transparency in money transfer fees and foreign exchange rates.
Approved on March 16, 2026, the proposed measure, Senate Bill No. 1917 or the Overseas Filipino Workers’ Remittance Protection Act, seeks to ensure that the hard-earned income of OFWs reaches their families in the Philippines with minimal deductions from excessive charges.
Senator Joel Villanueva, the bill’s sponsor, emphasized the importance of safeguarding the money sent home by millions of Filipino workers abroad.
“Our OFWs are not only sending dollars, dirhams, or euros. They are sending hope and a future for their families. It is only right that we ensure that the fruits of their labor are protected and that every peso they send home reaches their loved ones more fully,” Villanueva said.
Under the proposed law, remittance service providers will be required to clearly disclose all fees, charges, and applicable foreign exchange rates before a transaction is completed. This will allow OFWs to see exactly how much they are paying when sending money to their families.
The measure also aims to prevent unreasonable remittance fees and will impose penalties on service providers that violate the transparency requirements. In addition, the bill promotes financial literacy programs designed to help OFWs and their families better manage their finances.
Senator Camille Villar, the author and co-sponsor of the bill, highlighted the emotional and financial significance behind every remittance sent by Filipinos working overseas.
“Behind every remittance is a sacrifice. Behind every transfer is a quiet prayer whispered far from home. When we protect these remittances, we are protecting Filipino families,” Villar said.
The bill also seeks to strengthen support systems for migrant workers through the Department of Migrant Workers (DMW), which was established under Republic Act No. 11641 to centralize and improve government services for OFWs.
Once enacted into law, the measure is expected to benefit millions of overseas Filipino workers by ensuring fairer remittance practices, greater transparency, and stronger financial protection for their families back home.
