SEN. Camille Villar co-sponsored a measure on Tuesday seeking stronger government protection for the remittances of overseas Filipino workers (OFWs), underscoring the need to shield their hard-earned money from excessive fees and inefficient transfer systems.
During her co-sponsorship speech for Senate Bill (SB) 1917, or the proposed “Act Providing for the Protection of the Remittances of Overseas Filipino Workers,” Villar described OFW remittances as more than economic contributions, calling them “acts of love” and lifelines for millions of Filipino families.
Record remittances
Citing data from the Bangko Sentral ng Pilipinas (BSP), Villar said cash remittances reached $35.63 billion in 2025, with total personal remittances climbing to nearly $39.62 billion — the highest levels recorded to date.
Remittances from more than 10 million Filipinos living and working abroad account for roughly 8-10 percent of the country’s gross domestic product (GDP), making them a key driver of household consumption, education spending, health care access, housing, and small investments.
“Behind every dollar is a missed birthday. Behind every remittance is a sacrifice,” Villar said, highlighting the emotional cost borne by Filipino workers separated from their families.
Addressing transfer costs and inefficiencies
The proposed measure aims to ensure OFW remittances are not eroded by unreasonable service fees, hidden charges, or unfair practices by financial intermediaries.
While the Philippines has been recognized globally for improving remittance systems through digital banking and financial technology platforms, Villar said more safeguards are needed to ensure transparency and affordability, particularly for low-income migrant workers.
Global institutions such as the World Bank have long pushed for lowering remittance costs to below 3 percent of the total amount sent, noting that high fees disproportionately affect developing economies dependent on overseas earnings.
“When remittances are reduced by excessive fees and by inefficiencies, it is not just money that is lost. It is tuition that goes unpaid. It is medicine that cannot be bought. It is a dream delayed,” Villar said.
Protecting families, strengthening the nation
Villar emphasized that protecting OFW remittances is ultimately about protecting Filipino families.
“Our OFWs strengthen our economy, yes — but more importantly, they strengthen our families. And when we protect their remittances, we protect Filipino homes,” she said.
The senator also shared a personal anecdote about her family’s long-standing connection with OFWs, recalling how her father built a home decades ago for an overseas worker who dreamed of returning to a secure and stable household.
“It was never just about building a house. It was about giving a family something to come home to — security, stability, and hope,” she said.
Broad support sought
Senate Bill 1917 is expected to complement existing efforts by regulators to promote financial inclusion, enhance digital payment systems, and improve consumer protection in the financial sector.
Villar appealed to her colleagues to pass the measure, framing it as both an economic and moral imperative.
“Let this measure send a clear message — that the government will stand guard over the sacrifices of our kababayans abroad,” she said.
She ended her speech by assuring OFWs that their contributions are recognized and valued.
“We see your courage and honor your sacrifice. We will work tirelessly to ensure that every peso you send home reaches the hands of the family you are working so hard for,” Villar said.