MANILA, Philippines - Xpress Money, a global money transfer brand with presence in more than 150 countries, has introduced a new service for Filipino seafarers, a company official said.
Joel Candy, Xpress Money head of business development for Asia-Pacific, said their new “Ahoy Service†aims to assist seafarers by providing a convenient and safe way to send money to their families and other recipients at home.
“With this service, Xpress Money facilitates its remittance services to seafarers through agent partners, who are strategically located near key ports,†he said.
“This service is particularly helpful for seafarers who are deployed in ships with a quick turnaround time, such as those that are docked for only about an hour.â€
With a remittance service close to the port, Candy said the seafarers could easily send home money for any urgent financial needs.
“For seafarers who are paid in cash onboard, this also addresses the risk of their hard-earned money being stolen from their cabins, especially with the shared space and lack of privacy in their living quarters,†Candy added.
With services in five continents across 170,000 agent locations, Xpress Money works towards the goal of bringing home closer to millions of migrants residing away from their homes.
The Philippines is the largest supplier of seafarers worldwide, with over 400,000 deployed in ships of foreign registry, they comprise approximately 40 percent of the global maritime fleet.
Annually, their remittances amount to over $4 billion, which makes up at least 20 percent of total remittances from migrant Filipino workers.
With such significant numbers linked to Filipino seafarers, there is a need to extend special assistance and services that specifically cater to their unique working and living conditions.