Are remittance companies required to disclose all fees upfront?

Yes. Under BSP Circular 942 (2017) and RA 11765, remittance operators must disclose the total cost including all fees AND the exchange rate used, BEFORE the transaction is completed. The customer must be shown the exact amount the recipient will receive in the destination currency.

What if M Lhuillier or another remittance center gave me a different rate than advertised?

This is a disclosure violation. Under BSP rules, the rate applied must match the rate disclosed. If you received a materially worse rate than shown, you can file a complaint with the BSP's Financial Consumer Protection Department. Keep your receipt — it's your primary evidence.

How long can a remittance company hold my money?

Standard processing is same-day to 3 business days depending on the corridor. BSP Circular 649 sets maximum processing times. If funds are held beyond the stated timeline without explanation, this is an unreasonable delay — grounds for a BSP complaint and potential interest claim.

Can I get my money back if the transaction failed but I was charged?

Yes. Under RA 11765, Section 6, you have the right to a refund of any fees or charges for failed or erroneous transactions. The remittance company must process the refund within a reasonable time (BSP guidance: within 5 business days of the failed transaction being confirmed).

Is it legal for remittance companies to charge different rates to different customers?

Tiered rates (e.g., better rates for larger amounts, loyalty programs, or specific corridors) are legal if clearly disclosed. However, arbitrary discrimination based on personal characteristics is not. All applicable rates must be posted publicly.

What's the G-Xchange complaint process for GCash issues?

GCash is regulated by the BSP as an Electronic Money Issuer (EMI). Complaints go to: (1) GCash Help Center first, (2) if unresolved in 15 days, file with BSP via the Consumer Assistance Mechanism at bsp.gov.ph. GCash is required to respond to escalated complaints within 7 business days.

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Know Your Rights

Remittance Overcharge: Your Rights as an OFW or Sender

Philippine remittance companies are regulated by the BSP. If you were charged hidden fees, received a worse exchange rate than quoted, or had funds delayed without cause, you have remedies under Philippine law.

This is informational only, not legal advice. Consult a lawyer for your specific situation. · Last revised: 2026-05-03

Ano ang gagawin MO NGAYON / What to Do TODAY

1
Keep your receipt and compare to advertised rate
Save the transaction receipt (paper or screenshot). Note the date, corridor (e.g., UAE to Philippines), advertised rate vs. rate applied, all fees listed, and the exact peso amount received. Take a photo of any rate boards displayed in the branch.
2
File a complaint with the BSP
Go to bsp.gov.ph → Consumer Protection → Consumer Assistance, or call (02) 8708-7087. Mention: RA 11765 violation, the specific remittance company, transaction date and reference number, the discrepancy in fees/rate, and relief requested (refund of excess fees or rate difference).
3
Calculate and claim your damages
Use our Remittance Comparator to document the rate difference vs. competitors. If you lost ₱500 or more to overcharging, this is worth pursuing. For repeated overcharges that total ₱400,000 or less, file in small claims court — no lawyer required.

Mga Tanong at Sagot / Frequently Asked Questions

Legal Basis / Mga Batas at Regulasyon

Mga Tool / Related Tools

Remittance Rate Comparator →Build a BSP Complaint Letter →File a Complaint Against MLhuillier →Small Claims Court Guide →

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Disclaimer: This is informational only, not legal advice. Consult a lawyer for your specific situation. Content is provided for informational and educational purposes only. Citations link to official Philippine government sources.