JV Ejercito backs bill protecting OFW remittances

MANILA, Philippines — Senator JV Ejercito has expressed full support for Senate Bill No. 1917, or the proposed Overseas Filipino Workers’ Remittance Protection Act, stressing that remittances sent by overseas Filipino workers (OFWs) should reach their families without hidden deductions or excessive charges.

“Every cent sent by our OFWs represents sweat and sacrifice. Let us ensure that it is not wasted on excessive or unreasonable charges,” Ejercito said, translating his Filipino remarks.

Under the proposed measure, remittance centers and financial institutions would be required to clearly post foreign exchange rates and all service fees so OFWs would know exactly how much their beneficiaries will receive before sending money.

The bill also seeks to promote fair and reasonable pricing among Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions and other remittance providers, protecting workers from unclear or abusive charges.

Ejercito underscored the economic role of OFWs, saying their remittances support not only their families but also the broader economy.

“In remittances, our OFWs are among the leaders of the economy. The monthly budgets, tuition fees, allowances, and emergency funds they send do not only sustain their families, they also help sustain our country,” he said, translating his Filipino statement.

Citing recent data, Ejercito said cash remittances reached $3.52 billion in December 2025 alone. For the full year, total remittances climbed to $35.63 billion, accounting for a significant share of the country’s economic output and national income.

He emphasized that beyond economic figures, remittances serve as daily lifelines for Filipino families.

“OFWs are the providers of Filipino households. When there is a need for food, they send money. When children go to school, they send allowance and tuition. When they have extra, they invest in small businesses,” Ejercito said.

“They make it possible for Filipino families not just to survive but to live, to experience a decent quality of life more than just making ends meet. Before they are heroes of our nation, they are the heroes of Filipino homes first,” he added.

With 2.19 million OFWs recorded in 2024 and more Filipinos seeking opportunities abroad, Ejercito stressed the need for stronger safeguards as remittance flows continue to grow.