Senator Joel Villanueva on Monday welcomed the Senate’s approval of the measure that overhauls the country’s remittance system for Overseas Filipino Workers, saying the legislation addresses long-standing abuses that have quietly eaten into the earnings of millions of migrant workers and their families.
Senate Bill No. 1917, or the Overseas Filipino Workers’ Remittance Protection Act, which Villanueva principally sponsored and authored as chairperson of the Senate committee on banks, financial institutions, and currencies, seeks to streamline remittance charges, require full disclosure of fee structures, and mandate stakeholder consultations before any adjustments to fees are made. The bill also prohibits sudden, unilateral changes in charges and sets penalties for violators.
“Many OFWs remain trapped in an outdated remittance system — one that quietly chips away at their hard-earned income through excessive fees, hidden charges, and unclear foreign exchange practices,” Villanueva said. “These are not abstract concerns. These are real burdens borne by real families who depend on every peso to survive.”
Beyond fee regulation, the measure requires the Department of Migrant Workers (DMW) and the Overseas Workers Welfare Administration (OWWA) to conduct financial literacy programs for OFWs and their families, so that remittances translate into long-term financial security rather than stop-gap income.
Villanueva also emphasized that the bill is not intended to target the industry.
“This bill is not anti-business. It advances a balanced system — one that allows fair returns for service providers, while ensuring strong protection for those whose only capital is their labor, time, and sacrifice,” he pointed out.
The senator cited the continuing conflict in the Middle East, where a large concentration of Filipino workers is deployed, as among the reasons the bill’s passage is urgent. He noted that President Ferdinand R. Marcos Jr. had similarly flagged the need to protect remittance flows from the region, directing government agencies to ease the financial burden on OFWs amid the volatility there.
“Our responsibility does not end with the deployment or rescue of OFWs. It extends to ensuring that the fruits of their labor reach their families with dignity and fairness.”
The senator thanked his colleagues for their support to the measure and recognized the Bangko Sentral ng Pilipinas, the Department of Finance, the DMW, the OWWA, and OFW advocacy groups for their inputs during deliberations.
Villanueva explained that the bill is part of a larger, longer obligation which is to build enough opportunity at home so that Filipinos are no longer compelled to seek work abroad.
“The passage of this bill brings us one step closer to a more just and protective system for our OFWs. Yet, it is also a reminder of our continuing responsibility to create opportunities here at home, so that one day, no Filipino will be compelled to leave the country in search of livelihood,” Villanueva said.
