Xpress Money to tap remittances from Europe

MANILA, Philippines - Xpress Money, a global money transfer brand, is looking at Europe as a potential major contributor of OFW remittances in the coming years.

Xpress Money country manager for the Philippines Eduardo Cobangbang said Europe is home to more than 700,000 overseas Filipinos or about 8.7 percent of total OFWs.

“This number is expected to rise with the increasing demand for skilled and professional workers in the continent,” he said.

He said Filipinos employed in Europe mostly work in the service, hospitality, and healthcare sectors, but more vacancies in the health, information and communications technology (ICT), engineering, sales and finance  sectors have opened up.

Nirav Parekh, Xpress Money regional vice president for Europe, added that “the education and training Filipinos have from universities and technical training facilities, combined with their remarkable skills and time-tested work ethics makes them qualified for job opportunities in Europe.”

Recently, 10 European countries made it in the Top 20 Competitive Economies list. These countries, which are seen to consistently progress, are already home to more than 395,000 Filipinos.

“We encourage Filipinos who want to work abroad to explore job opportunities in Europe, aside from the usually preferred Middle Eastern and Asian countries,” Parekh said.

The Xpress Money officials said the optimistic labor forecast in Europe, coupled with emerging economies in 2014, will provide stable income for OFWs and positively affect the steady flow of remittances.

Cobangbang, meanwhile, ensured Xpress Money customers it would continue to strengthen connections between OFWs and their families through fast, safe and convenient money transfer services.

“The value of remittances sent to the Philippines is not only measured through the amount, but also by the perseverance and dedication that Filipinos invest in their work. That is why we strive to serve them in the safest and fastest way possible, so that OFWs will always feel closer to home,” he said.

Xpress Money has 6,567 agent locations and branches in 21 countries all over Europe.

It caters to overseas Filipinos sending remittances to the Philippines by cash pick-up, door service and account credit.

Xpress Money has presence in more than 150 countries in five continents across 170,000 agent locations.