FINANCE Secretary Frederick Go is seeking lower remittance costs for overseas Filipino workers (OFWs), as the government explores ways to make international money transfers more affordable and transparent.
Go met with representatives of Swift and Revolut on the sidelines of the 2026 International Monetary Fund-World Bank Annual Meetings in Bangkok, Thailand, to discuss faster and cheaper cross-border payments, according to a Department of Finance (DOF) Facebook post on Friday.
The discussions also covered expanding access to legitimate money transfer channels, with the goal of allowing overseas workers to send more of their earnings to their families in the Philippines.
“Our OFWs work hard for every peso they send home. We want to help them by lowering transfer fees and ensuring fair, transparent exchange rates, so more of their earnings reach their families,” Go said.
The initiative comes as remittance costs remain a concern for migrant workers, whose families rely on money sent from abroad to cover household expenses and other needs.
The DOF post did not detail specific proposals, implementation schedules or agreements reached with Swift and Revolut.
