5
CHEAPER OFW TRANSFERS ARE A GOAL, NOT YET A NEW RATE
Finance Secretary Frederick Go is seeking remittance transfer costs of around 2 percent, according to reports. That is a policy goal, not a newly available price for every OFW sending money home. [Panay News](https://www.panaynews.net/dof-chief-eyes-cut-in-ofw-remittance-transfer-costs-to-2/)
The Department of Finance has also held talks with Swift and Revolut about cheaper cross-border transfers. Reporting on those talks said no specific fee cuts or launch dates had been announced. Fees and the exchange-rate spread can both affect how many pesos a family receives. [Newsbytes](https://newsbytes.ph/2026/10/16/dof-explores-cheaper-ofw-remittances-with-swift-revolut/), [Context](https://context.ph/2026/10/16/dof-targets-cheaper-remittances-faster-development-financing/)
For now, compare the final pesos received for the same amount sent, including all charges. A lower advertised fee alone does not always mean a cheaper transfer.
WHAT TO WATCH
Named services, participating countries, all-in prices and an actual start date. Families need a working cheaper option, not just a target.