$1 remittance fee is for members only - NatCCO

The one-dollar remittance fee project launched recently in Makati City is exclusive to members of affiliate-cooperatives of the National Confederation of Cooperatives (NatCCO), it was learned on Tuesday. The National Cash Card Program, or simply N-Cash, launched on Sept. 4 at the Asian Institute of Management, is a membership-based undertaking, explained Jeremille Raton, business development officer of NatCCO, when sought to explain the mechanics of the project. A number of Filipinos overseas have emailed GMANews.TV with questions on the cheaper remittance fee offered by NatCCO. After having been given a run-around on the project details, it became evident that it was a system the organization devised to enlarge its network around the globe by enticing overseas Filipinos through the N-Cash. “Call us or coordinate with the cooperative or overseas Filipino organization in your area," Raton said when sought out to explain the mechanics of the project. Raton said the NatCCO office has also been swamped with inquiries about N-Cash since its launching. “Maraming tumatawag at nagtatanong (kung) paano sila makakukuha ng card. Doon sa mga OFW (overseas Filipino workers), it would be much easier kung makikipag-coordinate sila sa amin through their cooperative or the group they belong," Raton said. “Sa mga kamag-anak ng OFW, puwede silang tumawag sa amin at sabihin nila sa amin kung nasaan (lugar) ang asawa nila and we will identify kung anong organisasyon mayroon sa lugar nya para makapag-miyembro siya," Raton said. When asked if an OFW who is not affiliated with any group can still apply for the N-Cash card, Raton said, “ puwede rin naman kaya lang mas madali kung may organization siya. Anyway, it is impossible naman na walang kinaaaniban na organization ang OFW." NatCCO executive officer Cresente Paez said in a press conference at the project launching at the Asian Institute of Management (AIM) in Makati City that even Filipino TNTs (short for tago ng tago) can avail themselves of the lower remittance fee. N-Cash is a cash card issued by NatCCO and can be used not only for card-to-card remittance from overseas but also for pre-paid cellphone loading and bills payment for the locals, according to Paez. “Filipinos in all areas of our island nation will now be able to conduct many financial transactions without having to go to their nearest urban center which is often many kilometers and many hours away" Paez said. Transactions using N-Cash can be done through the NatCCO electronic facilities provided by its technology partner, iPay Solutions. In a separate interview, Raton said the card is given free and can even be delivered to the residence or office address of the applicant. However, he clarified that the applicant will have to be screened thoroughly as part of a bank requirement. The N-Cash project was launched in coordination with the government-owned Development Bank of the Philippines For inquiries about the N-Cash, you may call the NatCCO offices at: Mindanao Branch, (088) 8562341; Visayas Branch, (032) 4124808; and Manila Main office, 9137011 to 14 9137016., or through NatCCO’s official website: http://www.natcco.coop/index.php NatCOO chairman Wilfredo Dimamay said remittances through N-Cash would have a ceiling of $2,000 for every transaction. “We are still working with the authorities in Europe, other Asian countries such as Singapore, Hong Kong and Taiwan and in the Middle East for the ceiling that we will impose on remittances of the OFWs and TNTs there," Dimamay said. - Fidel Jimenez, GMANews.TV