The San Miguel Corporation (SMC) has been greenlit to commence its construction of the $15-billion New Manila International Airport in Bulacan. The concessions agreement between the Department of Transportation (DOTr) and SMC to develop the international airport has been signed on Wednesday, September 18, 2019.  On the same day, Transportation Secretary Arthur Tugade the project’s notice to proceed, giving the SMC permission to start with the project’s construction anytime.

Tugade said in an interview that this project is a game-changer because it can compete with world-class airports in Asia and all over the world. The new airport, which will be built on a 2,400-hectare property in Bulakan, Bulacan, will have four runways, eight taxiways, and three terminals. It will have the capacity to accommodate 100 million passengers per year once it’s completed in five years’ time. 

Meanwhile, SMC President and Chief Operating Officer Ramon Ang said that the project will be fast because they have started engineering for it about two years ago. He gave an assurance that the four runways will be completed by the fifth year because the contractors for this airport are all world-class. 

Two runways and a passenger terminal with a 35 million capacity were guaranteed for completion within three to four years from the start of the construction, which means, the airport will be operational by late 2022. SMC is also expected to complete its 8.4-kilometer tollway that will connect the airport to the North Luzon Expressway by then.

SMC is targeting to break ground on the airport by December.

[Source]

The post SMC Receives Greenlight To Work On New Manila Airport appeared first on iMoney.ph.

A top official of Mass Rail Transit System said on Thursday that the total rehabilitation of the MRT-3 and its components and systems is on track to be completed in July 2021. In fact, they’re moving it ahead of schedule of its schedule.

MRT-3 director Mike Capati said in a press conference in Quezon City that the maintenance and rehabilitation of the MRT-3 tracks are supposed to be started in the first quarter of 2020, however, they went ahead and moved it to November this year.  In addition, the Japanese service providers Sumitomo-Mitsubishi Heavy Industries also started working on the MRT-3 last May.

Capati also noted that the delivery of the spare parts is ahead of the schedule and the projections that were laid out to them were also earlier than the actual projections. The 4,053 new rails of 18-meter length to replace MRT-3’s old rails arrived from Japan in July, and more rails are scheduled for delivery in October.

The Department of Transportation earlier said that the new rails were to arrive two to three months ahead of schedule, keeping the 26-month rehabilitation on track by July 2021.

They also appealed to the public for some consideration because they’re unable to do the rehab 24 hours a day. They’re doing the best that they can to expedite the tasks, which they already managed to do - their 26 months projection is now down to just 22 months. They also assured the public that the complete rehabilitation will be finished by July 2021. 

The MRT-3 is expected to be back to its top-notch condition once the rehabilitation is completed. The number of working trains will be increased to 20 from 15 during peak hours and the operating speed will be doubled to 60 kilometers. These will cut the intervals between each train from 7 to 10 minutes to just 3.5 minutes. 

[Source]

The post MRT-3 Rehab Expected To Be Completed By July 2021 appeared first on iMoney.ph.

1. Examination – Online application of various licensure examinations with requirements to be submitted upon processing or issuance of Notice of Admission.
2. Initial Registration – Online registration of new passers and successful examinees for the issuance of their licenses.
3. Renewal – Online renewal of Professional Identification Cards of registered professionals.
4. Duplicate – Online application for lost ID replacement (coming soon).
5. Certifications – Online application of certifications (coming soon).

The Licensure Examination and Registration Information System (LERIS)

Documents and requirements

• Application number (will also be required upon choosing an appointment online)
• Community Tax Certificate (cedula) 
• Two passport size pictures
• Notice of Admission or NOA (application number)
• Registration fee 

• 1 passport-sized picture (white background)
• Renewal fee
• Additional documents depending on profession or course. 

Registration process

1. Visit https://online.prc.gov.ph
2. On the home page, click the “Register” tab.
3. You’ll be presented with the terms and conditions. After reading it, scroll to the bottom of the section and click “Agree”
4. You will then need to fill in your personal information such as your complete name, date of birth, email address, etc. Fill it out then tick the captcha box and click “Register”
5. The next page will require you to enter a valid ID number such as your SSS, TIN, or Passport. 
6. You will then be taken to your profile dashboard and you can continue filling in details about your Education, Employment.
7. You can now select a transaction that you need to process. For the most part, the online portal will simply allow you to schedule a visit to the PRC to complete your transaction. 

Applying for a licensure examination (board exam)

1. Log in to your LERIS account. 
2. On the upper right hand of your screen, click the “Select A Transaction” button. 
3. A pop-up with four tabs will appear. For board exam applicants, click the “Examination” tab. 
4. You will be presented with dropdown boxes where you could choose the name of your examination, the examination type (where you’re a first-timer or retaker), date of the exam, and place where you’ll take the exam. 
5. Once you’ve filled those in, click “Proceed” and you will be taken to the appointment page. This page will show you details on your PRC appointment where you can submit all your documents and pay for the examination (the fees are also shown on the page). 

License registration

1. Log in to your LERIS account. 
2. On the upper right hand of your screen, click the “Select A Transaction” button. 
3. A pop-up with four tabs will appear. For new board passers or unregistered board passers, click the “Initial Registration” tab.
4. You will be presented with a dropdown box where you could choose your profession and another box to type in your application number (NOA). Click proceed once done. 
5. On the next page, you can choose the PRC branch where you wish to claim your license. A breakdown of the fees that you need to pay will also be presented there. At the bottom part of the page, a suggested schedule for you to submit your documents and pay the fees in the PRC will appear. You can reschedule the date to your own convenience. Click proceed once done. 
6. A pop-up will appear containing your reference number, the fee, date of your appointment, and your complete name at the bottom. You can show this to the designated PRC counter for your appointment. 

License renewal

1. Log in to your LERIS account. 
2. On the upper right hand of your screen, click the “Select A Transaction” button. 
3. A pop-up with four tabs will appear. For license renewal, click the “Renewal” tab. 
4. You will be presented with dropdown boxes where you choose your profession and another box for you to enter your license number. 
5. Once you’ve filled those in, click “Proceed” and you will be taken to the appointment page. This page will show you details on your PRC appointment where you can submit all your documents and pay for the renewal (the fees are also shown on the page).
6. Some professions may require some Continues Professional Development Units (CPD). However, based on PRC’s notice board, they will be accepting renewals with no CPD until December 2020. 

Appointment with PRC office

Claiming your PRC ID (for license registrants)

The post Need To Process Your Professional License? You Can Now Do It Online! appeared first on iMoney.ph.

We’ve all heard the news; the Philippines was included in Russia’s list of qualified countries for their e-visa to Saint Petersburg and its surrounding regions. 

What does this mean for Filipinos? 

It will add more countries in our passport’s list of easy to enter countries. It isn’t exactly visa-free entry for Filipinos, however, the e-visa basically removes the painstaking process required for a regular visa and most of all it’s free of consular fees!

While the Philippine has long been granted an e-visa entry last July into some parts of Russia, specifically the Kaliningrad Oblast, this region, however, isn’t directly connected to the rest of the Russian Federation. 

What is e-visa?

According to the definition from the World Economic Forum: the Electronic Visa (e-Visa) has emerged as one of the most innovative services implemented in the area of freedom of movement and people-to-people contacts. 

E-Visa allows the management of the visa application process to take place entirely in a virtual environment. Everything is done with the help of the Internet: the visa application and supporting documents are submitted online, the payment is made online and the decision on the application is communicated online

In a nutshell, visa application for a country that requires it is done completely remotely, making the process a lot faster and to a certain extent easier! This isn’t a common visa process for Filipino passport holders and the Government of the Russian Federation is probably the first Western nation to offer this to Filipinos.

With the e-visa, gaining a permit to enter a non-visa-free country (for this case the Russian Federation) is easier, as it eliminates certain requirements such as invitations, hotel booking confirmations or any other documents that confirm the purpose of your journey. 

Apparently, it’s a lot easier now to visit Russia than it used to be!

How many days can you stay in Russia?

The MFA Russia Consular Department’s website states that the e-visa is a single-entry visa and issued for 30 calendar days from the date of its issuance. The permitted stay in the Russian Federation with an e-visa is up to 8 days starting from the date of entry, within its validity period. 

[block type="info" title="For your information"]

The period of stay in the Russian Federation always starts at midnight on the day of arrival through passport control upon entry regardless of the actual time of arrival. If you entered Russia at 8 PM on October 1, you are expected to leave by October 8 until 11:59 PM. [/block]

When should you apply for the e-visa?

The Russian e-visa must be applied only within 20 days to 4 days before your scheduled trip to Russia, regardless of the day of the week (whether it’s the weekend or a public holiday).

What are the requirements?

The e-visa eliminates certain tourist visa requirements such as invitations, hotel booking confirmations or any other documents that confirm the purpose of your journey and the tremendous visa fees you pay for those regular visas. 

The only requirements that you need to be eligible to apply for an e-visa is a passport with at least a 6-month validity and a recent (less than 6 months old) passport photo with an aspect ratio of 35x45 and must be in jpeg format and only up to 35kb in size. 

[block type="warning" title="Make sure you have this!"]

Visa documents aside, another must-have upon entry in Russia is medical insurance to coverage of at least €35,000. You have to present the original copy of your medical insurance at the airport.[/block]

How to apply for a Russian e-visa

1. Visit the Russian Ministry of Foreign Affairs website.
2. On the home page of the website, click the dropdown box and choose your nationality and visit area (There will be two options for Filipinos by October first: St Petersburg and Kaliningrad Oblast). 
3. Once done, scroll down to the bottom and tick the 3 boxes (term and conditions) then click the “Fill Out New Application Form” button.
4. You will be taken to a different page where you will be asked to sign up with your email address and create a password for your account. 
5. After creating your account, you will be taken to a series of pages that you need to fill up. There are 7 pages overall and each page must be fully filled with the corresponding information. 
6. Take note of the Application Number found on the upper left side of the screen upon your application process. Once you’re done filling up the first and second page, you can either choose to save your progress, print the page containing the Application ID, and to go to the next page. 
7. Fill out the necessary details on the succeeding pages. 
8. Before the last page, you will be required to upload your photo (must meet the criteria mentioned above).
9. Once done, confirm your details and hit the “Save and submit” button. 
10.  Within 4 days an email from the Russian Consulate Website will be sent to you containing your e-visa. Print the notice and present it at the airport. Make sure you keep it safe until you arrive in Russia!

Where in Russia can you visit?

The upcoming visa grant from the Russian Federation will give Filipinos the opportunity to visit Russia’s cultural capital - Saint Petersburg. Other regions in Leningrad Oblast are also included. 

What’s in St. Petersburg?

St Petersburg is one of Europe’s archaic cultural cities. It’s teeming with remnants of the Renaissance era, transporting you back to the blossoming ages of arts in Europe. There’s a handful of museums, galleries, and theatres that will offer visitors an almost never-ending opportunity to discover not just Russian traditions but also some of history’s finest international artworks and architecture in the world. 

Here are some of the most amazing places that you visit in St Petersburg!

• The State Hermitage Museum
• St Isaac’s Cathedral
• Nevsky Prospect
• Faberge Museum
• Catherine Palace
• Palace Square
• Alexandrisky Theater
• Peter and Paul Fortress
• Yusupov Palace (Moika Palace)
• Peterhof Palace and Gardens
• Palace Embakment
• Their underground Metro System

Whether you’re an art enthusiast or just a casual traveler, it’s hard to be not inspired by the architectural and cultural wonders of St Petersburg. As Russia becomes one of the easy to access countries for Filipinos, it’s now easier for Filipinos to have a taste of Western culture, art, and architecture than ever!

The post Here’s How Filipinos Can Get E-Visas To St. Petersburg, Russia! appeared first on iMoney.ph.

The Bangko Sentral ng Pilipinas Governor Benjamin Diokno announced that the proposed ₱20 coin could be released in December. In the interview, he told reporters that it could be as early as December this years since it is said to be the favorite gift given during the Christmas Season.  He also added that the prototype of the new coin would be submitted to President Duterte for his approval.

Meanwhile, it seems like BSP might be phasing out the ₱20 banknote which only has a lifespan of about six months. Noting that it’s very expensive to sustain because it has to be replaced after six months, which is what they print the most. The coins, on the other hand, are said to last longer which is about 10 to 15 years when re-circulated. 

Studies were done showing that the ₱20 bill is the most used denomination for small-value transactions and also the dirtiest banknote in the country.

According to the head of the BSP’s Security Plant complex, the minting cost of the ₱20 coin is more expensive than the production cost of the ₱20 banknote which is only about ₱2 per piece. However, the lifespan of the coin version is longer than the banknote making it cheaper in the long run. 

[Source] 

The post ₱20 Coin Set For Release December This Year appeared first on iMoney.ph.

Grab, Southeast Asia’s biggest ride-sharing and food delivery app is planning to boost digital literacy in Southeast Asia. During their conference, an official announced that they are going to digitize more small businesses and train future-ready workforce by 2025. Their goal is to improve the digital literacy rate of some 3 million Southeast Asians. 

Co-founder and CEO Anthony Tan said during their regional press briefing that Grab has partnered with global technology firm Microsoft to address the current digital skills "gap" as part of its Grab For Good campaign. 

Tan said that the campaign is about creating economic access and digital equality for all in Southeast Asia, enabling and empowering people to create a sustainable livelihood for themselves. He added that at least 16 percent of ASEAN youth want to work in the technology space but some don’t have access to tools to prepare them for the needed skills. 

For starters, they will train some 20,000 students through its tech talent initiatives. Microsoft will train students for tech skills and help retool partner-drivers and their families so they too can be part of the digital economy.

 Microsoft Asia Pacific Vice President of Sales, Marketing and Operations Ricky Kapur said in the press briefing:

“Not a large proportion of the population has access to technology that is needed to equip themselves in roles that are needed in the future, so there is an opportunity for us to build the future but the reality is that there is going to be a lot reskilling to be required” 

Grab and Microsoft will also be working with universities across the SEA region to training students for in-demand skills. Access to content and other learning tools will be provided by Microsoft while Grab will support through hackathons and internships. 

Kapur noted that the Philippines, Malaysia, and Indonesia are the top countries seen to gain the most from improved productivity according to a commissioned study.

In their Social Impact report, Grab reported that the company contributed at least $5.8 billion to the Southeast Asian economy within 12 months leading to March 2019. And it provided income opportunities to at least 21 percent of its partner-drivers, who had no work prior to joining Grab.

“As Southeast Asia grows, we hope everyone can rise with it and benefit from the growing digital economy,” co-founder Hooi Ling Tan said.

[Source]

The post Grab To Boost Digital Literacy In SEA To Upskill Millions Of Workers appeared first on iMoney.ph.

Whether commuters or the public transport operators like it or not, change is upon the transportation scene in the Philippines. The awful traffic in Manila coupled with its prehistoric Public Utility Vehicles (PUV) have been the cause of suffering for all commuters. Not only are these vehicles causing a lot of inconvenience to the public, but are also a threat to their health and the environment.

This initiative aims to improve the quality of life of the riding public and has been in the government's to-do list for a long time now. However, it's been consistently pushed under the rug because it's bad news for the jeepney drivers and their operators despite the financial assistance that the government will extend to jeepney operators and drivers making it less of a burden.

To understand the context and coverage of this program, let’s break down the real deal behind what jeepney modernization really means.

What is the jeepney modernization program?

This is an initiative of the government which will put in new and safer jeepneys on the street and phase out the old and poorly maintained ones. This was initially introduced by the Land Transportation Franchising and Regulatory Board (LTFRB) in 2015. It seeks to minimize outdated (and almost lethal) jeepneys in the streets, boost passenger safety, and prevent pollution by imposing an age limit for transport vehicles that are allowed to operate.

According to this resolution by the LTFRB, public vehicle operators will not be approved for a franchise, extend their Certificate of Public Convenience (CPC), increase of number of vehicles, or substitute their vehicles if their unit is more than the minimum age requirement. The unit should not be more than fifteen (15) years old reckoned from the date of manufacture of subject vehicle.

Basically, this program isn’t only going to regulate jeepneys that are older than 15 years, but also the buses and other public vehicles in the streets.

There are three areas where the program will address:

1. New franchising system
   Compared to the current franchising system where jeepney operators propose the routes of jeepneys, the new franchising system will be fully regulated by the government.

• The routes will be planned by the government.
• Single unit operators will no longer be eligible for a franchise.
• Initially, the minimum number of jeepneys for franchise is 20. By 2019, the minimum number will be raised to 40.
• Standardize income of jeepney driver, provide them with regular employment benefits, and abolish boundary system.

2. Improving PUVs to international standards

The government has also imposed a set of guidelines for all vehicles to meet before getting approved to operate. In order to uphold safety, comfort, and environmental soundness, all vehicles and services will comply with the national standards and international vehicle safety conventions. Depending on the type of PUV, there are various specifications that they must meet as imposed by Department of Transportation’s Omnibus Guidelines.

Here is a quick rundown of the most common and impacting upgrades imposed on the future of PUVs in the Philippines:

1. Vehicles with combustion engines must have low emissions in compliance with the EURO IV emission standards or better.
2. Speed limiters
3. Closed-circuit television (CCTV) camera for selected types of PUVs
4. Dashboard camera
5. GPS
6. Person with disability (PWD) friendly
7. Comfortable seats
8. Provision of Wi-Fi access
9. For buses, standing passengers must not exceed five persons

3. Training for drivers

The modernization of the public transport will not be successful without the cooperation from the drivers manning the roads. This is why the modernization program will also include training for these PUV drivers.  

The training will serve as a refresher (and a crash course) on the technicalities of driving, safe measures, and proper etiquette in dealing with passengers.

What are the economic implications?

The government has earmarked ₱2.2 billion for its transport modernization plan, which will be used to provide subsidy to drivers and operators who will be buying electronic jeepneys. What does this mean to the economy?

1. Provide new job opportunities

While it cannot be denied that the modernization of public transport will gravely affect individual and small-time jeepney operators and owners, but on the other hand it will pave the way to the car manufacturing industry in the Philippines that will create more jobs.

One of the long-term goals of the jeepney modernization project is to bring the vehicle manufacturing industry into the country. This is however not yet set in stone and might not push through, as it’s still being negotiated by the government with vehicle manufacturers.

2. Enhance tourism industry

According to Department of Tourism, tourism in the Philippines is thriving as it saw a 19.60% increase of visitor arrivals compared to last year and a 68% increase since 2013. With the jeepney being the primary mode of transportation all over the country, it will make transportation more comfortable and easier not just for Filipinos but also for tourists. It will enhance tourist experience in the Philippines.

Aside from that it will put a new and interesting twist to the jeepney icon, which has been in the minds of the world inseparable to the Filipino psyche. This time, the jeepneys (especially in Metro Manila) will not be viewed as a smog machine that spews deadly fumes and poses as a safety hazard to people on the streets.

It will still be uniquely the Philippines’ jeepney, but with a respectable green sheen. If the newly rolled out omnibus franchising guidelines are to be considered, new jeepneys would have at least Euro 4-compliant engines but with a host of comfort and safety features.

3. Streamline public transportation

Road safety and policies will be easier to roll out since the government can easily regulate PUV operators.

4. Gradually solve traffic condition

According to the study conducted in 2016 by Japan International Cooperation Agency (JICA), traffic in the Philippines cost ₱2.4 billion daily to the economy and by 2030 it will peak at ₱6 billion daily if left unsolved.

With the government having full control of the PUV routes, it will be easier to decongest roads and plan routes that will minimize traffic conditions in highly saturated areas.

5. Increase base fare

The modernization of public vehicles will lead to a higher base fare, from ₱8 to ₱12. This can be an added burden to the day-to-day expenses of commuters, but could result in higher income for drivers and operators. While the other transportation options like buses and TNVS are still likely retain their current fare rates, jeepney on the other hand is most likely to increase.

What’s in store for commuters?

It’s a promising initiative aimed at improving the mode of transportation for commuters. Aside from the sleek new jeepneys that can take you from point A to B safely, there are a handful of benefits that the riding public will enjoy when the Jeepney Modernization Program hit the ground.

1. Safety and comfort

A safer and more comfortable transportation system is the highlight of this modernization program. The new vehicles that are showcased by the government promise to be more spacious and offer a bunch of features that uphold safety and security. The doors of some of these new jeeps will be on the side of the vehicle instead of the back, and they will have a longer frame. Some units are air-conditioned to provide a more comfortable option  and these modern jeepneys are also PWD friendly.  

Aside from the essentials, these e-jeeps also come with GPS navigation system, a CCTV camera, dashboard camera, and even a Wi-Fi connection. These may just be the icing on the cake, but they can make a world of difference in improving the quality of commuting for passengers.

2. Health and environment friendly

Everyone can agree that jeepneys in Metro Manila are the biggest contributors of carbon dioxide emission. In fact, in 2013 according to Climate Change Commissioner Heherson Alvarez, more than 500,000 diesel-fueled jeepneys, buses, trucks and other vehicles in Metro Manila are responsible for about 70% of the total soot or black carbon emissions in the Philippines.

This can be detrimental not just to the environment but also to the health of the public. Under the program, the proposed vehicles are powered by either Euro 4 engine or electric engine with solar panels on the roof.

3. Better payment system

Is it time to say goodbye to “paki abot po” payment system that we’ve all grown accustomed to with jeepneys? Not necessarily, not yet. Though, e-jeepneys that will soon be hitting the streets come equipped with a tap card-based fare collection system, well-maintained regular jeepneys that are not older than 15 years old will still remain on the streets. No more passing change from one passenger to the other, all you'll need is a loaded Beep card and you're good to go.

Will jeepney operators and drivers lose?

The major reason why Pinagkaisang Samahan ng mga Tsuper at Operation Nationwide (PISTON) and Stop and Go Coalition is against this modernization plan is because they see this initiative as ‘anti-poor’ and that it would lead to the loss of livelihood program of small-time jeepney owners and operators.

Though, this is true to a certain extent, jeepney drivers will not necessarily feel the brunt of this change. At least, not in a bad way.  Why?

For jeepney drivers who are merely renting out their jeeps, they will be getting a standard income preset by the government. They don’t have to worry about the monthly amortization of the new jeepneys. At the end of the day, the jeepney operators are mandated to provide them a regular income, not affected by how much the driver is earning per day.

The burden, on the other hand, will be shouldered by the operator who runs a franchise of PUV. The monthly amortization will be a huge financial challenge since each unit despite having a low APR and flexible payment term carries a huge price tag. Almost all the drivers and small business operators cannot afford to franchise the new vehicles.

The high cost of e-jeepney

This is the part that has caused the outrage in light with the modernization of public transport. These modern jeepneys will cost about ₱1.2 million to ₱1.6 million, which are payable for up to seven years.

The estimate for the subsidy of these vehicles is about ₱800 per day or ₱24,000 per month. While this is basically the current boundary rates of jeepney drivers in Metro Manila, operators, on the other hand, will not be able to profit for a long time if this gets implemented.

Government subsidy

To help PUV operators upgrade to newer jeepneys, the Department of Transportation (DOTr) in September signed a memorandum of understanding (MOU) with the Development Bank of the Philippines (DBP) for a ₱1.5-billion loan facility for PUV cooperatives.

The DBP will provide loans to cooperatives to finance the acquisition of new jeepneys.

The DOTr also signed an MOU with the Land Bank of the Philippines last April for a ₱1-billion financing scheme for individual jeepney operators.

The government will be subsidizing ₱80,000 per vehicle purchased by operators or drivers. However, that amount is only about 5% of the total price of these new PUVs and could hardly bring down the monthly repayment, which is the root cause of the outrage from certain transport groups.

Transport cooperatives

The prices of the e-jeepneys are without a doubt very steep for a jeepney driver - DOTr's solution to this through transport cooperatives.

Cooperatives will grant access to credit facilities, organize operators and drivers (more streamlined implementation of rules and regulations), enhance the service quality of public transport, and reduction of competition. Not only will it fill the financial needs of both jeepney drivers and operators to continue their livelihood, but it will also oversee Public Utility Vehicles better.

Jeepneys despite being a form of public transport aren't completely controlled by the government. Forming cooperatives is one step towards achieving this, and the income structure of jeepney drivers and operators will be regulated - veering it away from the boundary system. Cooperatives will treat operators as investors and guarantee them with a steady income. Meanwhile, drivers would earn a fixed rate with overtime pay and be given social security and health benefits.

Philippines transport scene vs the world

For neighboring countries, public transport is run by private but Government Linked Companies, making it easier to streamline upgrades and improvements. Meanwhile, our land transport system is ran by private groups and even individuals, and unsurprisingly, it’s outdated as these groups can’t be bothered to upkeep their vehicles because of the cost.

It’s worth noting that the Philippines has long been left out when it comes to modernization of mass transport, compared to its neighboring countries. As neighboring countries like Malaysia and Singapore enjoy the convenience of a seamless and a more centralized mode of transport, the Philippines, on the other hand, is still struggling to even implement an accurate amount of fare system (drivers will have to manually and mentally calculate the fare from point A to B). It cannot be denied that it’s high time for us to actually do something about it, not just for the benefit of the commuters, but also for the environment and the economy.

It cannot be denied that this is a well-intended initiative with the benefit of the commuters in mind. To fully materialize this project, certain compromises must be made.  However, if we look at the status quo, no one is even winning - not the commuters, not the operators, not even the drivers. Which begs the question - do we even need to impede this from happening?

Image from bestsellingcarblog.com

The post PUV Modernization: Here’s What You Need To Know appeared first on iMoney.ph.

Zenith Capital Credit Group

What are the requirements for a Zenith Credit Business Loan?

Sole proprietorship

• Latest original 3 months bank statements and bank certification 
• Copy of Mayor’s and Barangay Business permit 
• Copy of DTI Permit
• Photocopy of at least 2 Government-issued IDs 
• 1”x1” ID Picture 
• Pictures of the business and/or inventory 
• Proof of billing for your business and residence (i.e. electricity, water, cable)
• Hand-drawn sketch of your business and residence location 
• Photo of your business

Partnership

• Articles of partnership CORPORATION 
• SEC registration with Article of Incorporation & By-Laws 
• General Information Sheet
• Secretary’s Certificate with Board Resolution (Authority to obtain a loan in his/her personal capacity)
• Income Tax Return with Audited Financial Statements

How to apply for a Zenith Credit Business Loan:  

3. Download their form then click “Apply Now.”
4. Fill in the form and wait for an email or call from their representative within 24 hours.
5. You will be required to email your documents to their representatives. 
6. Once approved, your funds will be released within 7 business days from the approval of the loan. 

Receiving your funds

Should you apply for a Zenith business loan? Here are the pros and cons. 

• The loan amount is big
• Convenient mode of payment
• Practical requirements [/block]

• For a big loan amount, their payment term isn't very favorable. You'll need to earn back the amount you've borrowed in a year or less. 
• Processing time and reimbursement will take more or less 2 weeks
• Not suitable for small businesses. [/block]

Radiowealth Finance Corporation (RFC) Business Loan

What are the requirements for an RFC Business Loan?

Self Employed 

• Completed Application Form
• Two (2) ID pictures (1×1 or 2×2)
• Passbook (open for six months)
• ITR/W2/W2316
• Anyone (1) valid primary ID (SSS, GSIS, Postal ID, Voter’s ID, Driver’s License)
• Or two (2) secondary IDs (Pag-ibig ID, PhilHealth)
• Latest utility bill (telephone, electricity, water, or cable)

Corporation

• Completed Application Form
• Corporate/Partnership Registration Certificate
• Secretary’s Certificate
• Minutes of the Board Resolution stating the authorization of loan application
• List of authorized signatory/ies
• Mayor’s / Business Permit
• Copy of SEC Registration

Additional Requirements For PDC Collection Payments

How to apply for an RFC Business Loan:

1. Go to RFC's website and hover over the "Products" tab found on the upper left-hand side of their website. If you're on mobile, click on the drawer button at the upper right-hand side of the screen, it will present you the header options including the "Products" tab. Under the products tab, click on "Business Loan".

2. There are two types of business loans you can apply for, the SME Working Capital Loan and the Store Inventory Loan. Choose which one suits your needs and click “Get It Now.”

3. The next page is where you fill up all your basic personal information. Click “Next” once done. 
4. The last page is where you will need to fill in information about your source of income or business. You will also be required to upload your documents on this page. Click “Submit” once you’re done. 
5. You will receive a call within 24 to 48 hours from the time of application. 

Should you apply for an RFC business loan? Here are the pros and cons

Esquire Financial Business Loan

Are you eligible to get an Esquire Business Loan?

• Business must be in operations for at least 1 year.
• Business must be registered to DTI (if sole proprietor) or SEC (if partnership/corporation) under the borrower’s name.
• Business must have a Mayor’s permit and Barangay clearance registered under the borrower’s name.
• The borrower must be the owner or primary shareholder of the business.
• The borrower must have an active checking account for at least 6 months.
• The borrower must be the signatory on checks.

Documentation required

• TIN ID and any other government-issued ID proof of the Principal Borrower
• Latest three (3) months Bank Statement and Bank Certification
• Photocopy of valid Mayor’s Permit
• Photocopy of valid Barangay Business Clearance
• 1” x 1” ID picture of the Principal Borrower
• 1 Picture of Exterior – Picture of the business premise from outside with signboard and its surroundings
• 1 Picture of Interior – Picture of business inventory
• Latest (not older than 2 months) proof of billing for Business and Residence
• Sketch/map of Business and Residence location with the nearest landmark *Additional documents may be required during credit evaluation.

How to apply for an Esquire Business Loan:

• Log on to their website.
• Register by clicking the “Create An EFI Account” option
• Fill out the online application form and upload the necessary documents.
  • Pre-approval will be granted to applicants who submit their latest 3 months bank statement.
• Wait for 48 business hours after you have uploaded the complete documentary requirements.
• Notification via text message and email will be sent to the borrower upon loan approval.

Receiving your funds

Should you consider them? 

• Undeniably, their loan amount is big.
• One of the more established non-bank business loan providers.
• Quick turn around time. [/block]

• An amount as big as ₱10,000,000 or even ₱100,000 isn’t exactly the type that you’d settle as a short-term loan.
• The steep interest rate may make it more challenging for business owners to settle the repayment while raking in revenue in such a short time to sustain their business. [/block]

The post Where To Apply For Business Loans In The Philippines? appeared first on iMoney.ph.

Philippine telcos are now set to migrate landline customers to an 8-digit telephone number format, a move that was supposed to be implemented on March 18, 2019, but was pushed back due to the request of banking stakeholders such as the Bankers Association of the Philippines (BAP) and the Credit Card Association of the Philippines (CCAP) .

The National Telecommunications Commission (NTC) released a circular last year ordering all existing 7-digit telephone numbers shall be migrated to 8-digit telephone numbers. Each telco providers within the local exchange area " 02" shall be assigned a number from digit "3" to "8" to be affixed at the beginning of the 3-digit exchange codes, this will serve as their identifier.

[block type="info" title="For your information"]

Globe will add “7” as their identifier, while PLDT Inc. will be using “8.”

Area codes will still be applicable[/block]

Globe Telecom Inc’s general counsel Froilan Castelo assured that they are ready to migrate their Metro Manila customers’ landline to the 8-digit format. He further elaborated that their teams are working closely with the NTC to assist customers before, during, and after migration. 

PLDT subscribers, on the other hand, will have no difficulty adjusting to this new system. Their public affairs head announced that their customers simply need to add the number “8” at the beginning of their existing landline numbers.  If your existing number is (02) 123-4567, then it will simply become (02)8123-4567.

PLDT also encouraged their subscribers in Metro Manila and other ‘02’ areas to start disseminating their updated numbers to their callers and updating their promotional materials such as business cards, websites, and social media.

[Source]

The post 8-Digit Landline Number To Roll Out On October 6 In Metro Manila appeared first on iMoney.ph.

The country’s homegrown ride-hailing platform, Angkas (DBDOYC, Inc) is planning to drive its services outside Metro Manila, once the government legalizes motorcycle taxis. 

In an interview, earlier this Tuesday, George I. Royeca, Angkas head of regulatory and public affairs said that the company is aiming to expand nationwide.  Currently, Angkas operates in Metro Manila and is currently on a six-month pilot test in Metro Cebu. Royeca said they’re looking to enter primary cities like Davao, CDO, and Batangas for expansion.

Earlier this year in May, the Department of Transportation (DoTr) gave Angkas permission to do a trial run of their ride-hailing services for motorcycles. Their operation has been on-and-off since 2017 due to their engagement with the government to legalize their platform. The current Land Transportation and Traffic Code, or Republic Act No. 4136, doesn’t include single motorcycles as among the vehicles allowed to operate for public transport.

There are at least four bills filed in the Senate seeking to regulate the use of motorcycles as public utility vehicles. Meanwhile, a similar bill sits in the House of Representatives filed by Cebu City 1st District Rep. Raul V. Del Mar.

Currently, Royeca said that they’re just waiting for the schedule in the Senate so they can present interim results of the TWG (technical working group). They’re hoping that it will finally legalize the use of motorcycles since “habal-habal” has been used by many cities as a mode of public transportation for a long time now. He added that it’s high time to legalize this since motorcycle taxis are something that the country needs. 

Angkas currently has 27,000 drivers operating in its fleet, with about 2 million app downloads since it was launched in 2016.

[Source]

The post Angkas Plans Provincial Expansion appeared first on iMoney.ph.

Today, you no longer need to drive far to apply for a loan. The fintech industry in the Philippines has made it possible for quick financial solutions to be hihgly accessible with just a click of a finger, and Filipinos can apply for one today!

Fast cash loans are now more common in the Philippines than you think. What’s good about it is that you don’t you don’t need to go through the conventional process of loan application. Some will only require as simple as your phone number and an ID, while others will need a little bit more information but not as plenty as a regular loan. 

What are fast cash loans?

Fast cash loans are not your typical loan

How can I apply for a fast cash loan?

Application for these fast cash loans will vary, most of which can easily be done online with a computer or a smartphone. We’ll discuss more about that in this article. 

How fast can you receive the loan?

This type of loan typically has a turnaround time of 2 to 5 business days. Some loans get approved within 24 hours and get disbursed at the same time, others have a 24 to 48 hours approval time and another day or two for the disbursement. Either way, you can take comfort in the fact that this type of loan is guaranteed to provide quick solution to your immediate cash needs.

Where can you get the cash loan?

The cash loans from these fast cash loans providers have different mode of disbursement. The most common and fastest method is through bank transfers, otherwise most of them allows you to claim  your loan through accredited remittance centers.

If you’re looking for some fast cash, these cash loans may have what you need!

Cashwagon Cash Loan

Cashwagon, a subsidiary of Green Money Tree Lending Corp is an established service provider in the field of Information Technology solutions and Financial Technology (FinTech).

Their main focus in the Philippines is consumer financing online that offers access to online cash loans without any collateral requirements, complex approval procedures, or prolonged application waiting time.

Their business model utilizes the internet to enable clients’ easy access to their lending services, and they complement it by offering a quick turnaround time.

Application Requirements For Cashwagon Cash Loan

• Currently residing in the Philippines
• The loan applicant must be between 20 to 60 years old
• Employed for at least 1 year

• Payslips and/or COE
• Proof of address (utility bills)

How to apply for Cashwagon Cash Loan

1. Log on to their website.
2. Fill in the application form.
3. Wait for a call from Cashwagon
4. Loan confirmation will be sent to you via SMS within 30 mins after the phone call.
5. The money will be sent to your indicated bank account within minutes from receiving the SMS confirmation.

[table id=520 /]

Payment option

Cashwagon can collect payments through their DragonPay payment partners, which can be accessed in the following establishments:

• 7-Eleven (Using Dragonloans)
• Bayad Center
• SM Payment Counters (Department Store, Supermarket, Savemore, Hypermarket)
• Robinsons Department Store and Supermarket
• Cebuana Lhuillier
• LBC
• Landbank ATM

[block type="success" title="Pros"]

Cashwagon offers quick cash for those who need immediate funds to meet financial obligations. The application is also hassle-free and can be done in just a few minutes. 

The documentary requirement is very minimal and the release of funds is also very convenient as it’s directly transferred to your bank account or debit card.

It’s the very definition of Hasslehassle-free application. [/block]

[block type="warning" title="Cons"]

Short payment term ( 10 days for first time applicants, 30 days for repeat loans)

Steep interest rates (20% for 30 days fixed). 

First-time applicants will also be limited to a maximum amount of ₱7,000.  [/block]

Why you should consider applying for a loan with Cashwagon

If you’re in dire need of cash due to some emergency and payday is still a week away, perhaps their loan program best suits your immediate needs.

Tala Philippines

Tala is a global microfinance company that delivers its financial services solely through their app. Other than the Philippines, they also operate in Mexico, Tanzania, Kenya, and India, with over a million customers in their platform to date. 

You can conveniently apply for their loan on the go through their app, but their maximum loan amount may not be sufficient for people with big-ticket needs.

Requirements

• Payslip
• Proof of address such as utility bills
• Valid ID

[block type="info" title="For your information"]

hey have no minimum income requirement and aren’t particular with your employment status. Simply download the app and upload a valid ID and you’re good to go. [/block]

How to apply

• Download their app from App Store or Google Play
• Open the app and register
• Upload a valid ID. 
• Wait for a call from Tala on the same day.
• The loan will be approved on the same day.
• Choose the cash-out option for your funds. 

[table id=521 /]

Payment option

Tala can collect payments through their DragonPay payment partners, which can be accessed in the following establishments:

• 7-Eleven (Using Dragonloans)
• Bayad Center
• Cebuana Lhuillier
• Mlhullier
• Coins.ph app

[block type="success" title="Pros"]

• Quick approval and minimal requirement.
• No minimum income requirement.
• You can choose cash-out outlets to claim your money.
• No bank account needed.[/block]

[block type="warning" title="Cons"]

• Too many fees 
• Very short payment term [/block]

Why you should consider applying for a loan with Tala?

Quick cash comes with a hefty price - to be fair it’s the same rule for all fast cash loans. It may not be ideal for people who can’t cope with bulk payment or who are just financially incapable of doing so. It’s a quick cash solution with a quick repayment scheme. 

Atome Credit Cash Loan

Atome Credit offers a secure and transparent cash loan service that can easily be accessed through their mobile app. Atome is a brand of Neuroncredit Financing Company, Inc., a reputable Financial Technology company and subsidiary of Neuroncredit Pte Ltd (Singapore), which has been operating in the microfinancing industry since 2015.  To gain an edge from their competitors, they utilize Artificial Intelligence in providing faster and better services for their customers.

Requirements

For starters, their basic requirements for the borrower are as follows:

• The applicant must be between 18-55 years old.
• Must have a valid government ID like license, UMID, passport, etc.
• Must have at least a GCash account if not a bank account. 

However, additional requirements may be required after credit evaluation. This can vary from one person to another depending on their financial capacity. 

Documentary requirement

• Payslip
• Proof of address such as utility bills
• Valid ID

How to Apply

1. Download their app then open it. 
2. Sign up, fill out the application form in the app including your loan details with your bank account. 
3. Wait for 24 hours for your loan to get approved. You can check through the app. 
4. Once approved, you will receive a confirmation message in the app and at the same time the loan will be transferred to your bank account. 
5. Expect the funds in your account within 24 to 48 hours, depending on your bank. 
6. Tap the repayment tab in the app to process loan payment at multiple online and offline partner merchants.

[table id=522 /]

[block type="success" title="Pros"]

Immediate disbursement of funds (24 to 38 hours).

Convenient if you own a GCash account.[/block]

[block type="warning" title="Cons"]

• Only available in Google Play (sorry iPhone users.)
• Low loan amount.
• Not convenient for non-GCash users.
• Rates can be quite steep for longer terms and if not paid on time. [/block]

Why you should consider applying for a loan with Atome?

Atome Credit Cash has two types of loan offerings – a payday loan that you can get repayment terms for up to 3 months and a quick credit which is payable up to 7 days. Their 3-month term loan is a provision for people who wants better payment flexibility. However, it is essentially a short term loan with a very limited loan approval amount.

Radiowealth Finance Corporation (RFC) Salarybusiness loan

RFC is one of the longest-running private finance/lending company in the Philippines. The company was established in 1964 and they pioneered (non-bank) offering car and appliance loans to Filipinos.  Through the years, they have diversified their financial services granting an array of personal loan options to their customers.

For fast cash needs, you can apply for RFC’s Salary Loan option.

Requirements

RFC salary Salary Lloan has a more stringent screening process, but they grant higher loan amount at a reasonable rate. You must tick these items to be qualified for their fast cash loan or the Salary  Lloan.

Eligibility

• Filipino citizen not younger than eighteen (18) years of age
• Residency of at least two (2) years, except if you are a new homeowner
• Good character and reputation
• A source of income. If employed, you should have been connected with your current employer for at least two (2) years with a minimum basic monthly salary of Php 18,000.

Documentary requirements

• 2 valid government ID’s (if employed, pls include company ID)
• Proof of Billingbilling
• Proof of iIncome (3-month payslip)
• Residential, Businessbusiness, or Employment employment Address address Mapmap
• Certificate of Employmentemployment
• Business Barangaybarangay/ Businessbusiness/ DTI Permit permit (for business owners)

[block type="info" title="Additional Requirements For PDC Collection Payments"]

The latest deposit slip (on the checking account) that is not more than one week old.[/block]

How to apply

1. Go to RFC's website and hover over the "Products" tab found on the upper left-hand side of their website. If you're on mobile, click on the drawer button at the upper right-hand side of the screen, it will present you the header options including the "Products" tab. Under the products tab, click on "Multipurpose loan".
2. There are eight types of multipurpose loans you can apply for.. Choose which “Salary Loan” and click “Get It Now.”
3. The next page is where you fill up all your basic personal information. Click “Next” once done. 
4. The last page is where you will need to fill in information about your source of income. You will also be required to upload your documents on this page. Click “Submit” once you’re done. 
5. You will receive a call within 24 to 48 hours from the time of application and you may claim your funds from the branch near you. 

[table id=522 /]

[block type="success" title="Pros"]

• One of the most credible non-bank loan providers in the country.
• Bigger loan amount
• Lower interest rate
• Longer payment term[/block]

[block type="warning" title="Cons"]

• Not the fastest turnaround time but disbursement of funds from the time of application isn’t too long either. (3 to 5 business days)
• Requires a PDC account which can be a quiquite a difficultte  requirement to comply with. 
• The disbursement of cash is on the traditional side. [/block]

Should you consider them?

Given that you’re not too cash strapped to afford to wait for at least a week to get a loan, this is the best loan option that you have on the list. It has the lowest interest rate, more flexible terms, and bigger loan amount. You can better manage your cash flow by taking longer-term loans like the ones that RFC offers. 

The post You Can Get A Loan In Less Than 48 Hours From These Lenders appeared first on iMoney.ph.

The Department of Trade and Industry (DTI) is cracking down on counterfeit brands that are rampant in online shopping sites. The agency is planning to penalize these online entities who sell counterfeit items. 

Trade Secretary Ramon Lopez disclosed that they are currently drafting a law that would impose fines on malls and online shopping portals that condones such businesses that sell brand imitations.  He added that this would protect trademarks and patents, benefiting consumers and manufacturers. 

During his interview on CNN’s The Source, Lopez Said:

Meron kaming ipo-propose na legislation kung saan 'yung mismong nagbebenta will also be liable, the platform. Parang siya 'yung store. "In the same way, online 'yan or kahit sa brick and mortar, pati 'yung store na let's say 'yung malls, later on, maging liable din sila kapag nag-allow silang magbenta ng mga counterfeit sa lugar nila.

[Translation: We will propose legislation where the selling platform will also be liable. It will be considered the store. In the same way, whether it's online or brick and mortar, it will be liable if it allows the sale of counterfeit items in its area.]

The DTI chief also added that the Intellectual Property Office of the Philippines is crafting the proposal. He also said that online shopping is covered by local consumer laws and that any complaints can be forwarded to the DTI.  

Around 500 complaints on defective items purchased online were received by the DTI in the past months. Due to this, Lopez clarified that broken items should be eligible for replacement and repair if bought online, just like in physical stores. Thus, he advised online shoppers to buy from "trusted" platforms to avoid problems.

Online marketplaces Lazada and Shopee and fashion retailer Zalora are the biggest web-based stores among Filipinos, where manufacturers and even individual sellers list their available products. Lopez said he is keen on boosting e-commerce in the country, which remains below 10 percent of all transactions despite millions of active Internet users, and even fewer digital payments.

[Source]

The post DTI Seeks To Penalize Online Platforms Selling Fake Items appeared first on iMoney.ph.

The World Bank has lowered its forecast on Philippine Economy growth. They cited the delayed passage of the 2019 national budget and the spending ban on new projects before the May midterm elections earlier this year as the root cause. 

The senior economist of the World Bank, Rong Qian, stated that the growth will likely be at 5.8 percent this year instead of 6.4 percent. The government had set a growth target of 6 percent to 7 percent for 2019.

The country's growth is expected to recover to 6.1 percent in 2020 and 6.2 percent in 2021 if there is no delay in the passage of the 2020 national spending plan, the World Bank added.

While the Philippines' revenue collection has improved due to the first tax reform package, its disbursement "remains disappointing." The country also continues to suffer from a lack of competition, based on their analysis. 

“Philippine manufacturing markets are more concentrated than those of region peers, with a higher proportion of monopoly, duopoly, and oligopoly markets," Qian said.

The World Bank also urged the government to review state-owned businesses as it said at least 11 out of 17 non-infrastructure sectors surveyed are controlled by the government.
[Source]

The post World Bank Lowered Its 2019 Growth Forecast Of The Philippines appeared first on iMoney.ph.

Different credit cards cater to different lifestyle and needs. Some credit cards will reward you more for spending more, while some will just offer basic services. This is where we can draw the line between no-frills credit cards and the premier ones. The former doesn’t offer many fun and rewarding features, but they won’t burden you with yearly fees. The latter on the other hand can be rewarding, depending on how you’re spending, but you’ll be obligated to pay for an annual fee which will serve as a maintenance or membership fee for accessing their perks.  

When it comes to choosing a credit card, it’s a consideration between rich financial features and lower fees. While there are cards that charge you a fee for all the benefits you get, there are other options that provide you with exclusive benefits without charging an annual fee, and here’s a quick rundown of those cards.

Citi Simplicity +

If you’re looking for a no-frills card that’s free for life, this card should be on top of your list. While it doesn’t offer many rewards for spending, it will, however, reward you for being a good paymaster and so much more.

[block type="tips" title="Should you consider this card?"]

There isn’t really any reason why you should not get this card unless you are after premium rewards for being a spender. But even then, this card is simply hard to pass on because who would say no to these key benefits?

• 10% cash back
• No late payment fees
• No annual fees [/block]

[table id=413 /]

[product name="Citi Simplicity+ Credit Card" image="https://www.imoney.ph/sites/v2.imoney.ph/files/citi-simplicity-plus.jpg" link="https://www.imoney.ph/credit-card/citibank/simplicity-plus?src=internal_article_text_no-annual-fee-credit-cards-philippines" target="_blank" positionlink="top_1_text_box_cc_product" feature="Get 10% back on interest charges if you pay at least the minimum due on or before the due date." cta="https://www.imoney.ph/credit-card/citibank/simplicity-plus?src=internal_article_btn_no-annual-fee-credit-cards-philippines" target="_blank" positionbutton="top_1_btn_box_cc_product"]The Card That Pays You Back For Paying On Time[/product]

RCBC Bankard Classic Card

A great credit card for first-time credit card users because of the flexibility of its reward points system. While it’s isn’t that much different from the average credit card, users can choose to be rewarded for almost all types of spending category.

[block type="tips" title="Should you consider this card?"]

Other than the zero annual fee which is a promotional offer, this credit card is perfect for cardholders who want more flexibility with the rewards that they’re getting, or if their range of purchases and spending are vast. The RCBC Bankard Classic Cards has a reward program for all types of spending, you just have to choose.[/block]

[table id=414 /]

[product name="RCBC Bankard Classic Card" image="https://www.imoney.ph/sites/v2.imoney.ph/files/rsz_classic-jcb.png" link="https://www.imoney.ph/credit-card/rcbc/classic-card?src=internal_article_text_no-annual-fee-credit-cards-philippines" target="_blank" positionlink="mid_1_text_box_cc_product" feature="Enjoy monthly promos and rewards from RCBC partners." cta="https://www.imoney.ph/credit-card/rcbc/classic-card?src=internal_article_btn_no-annual-fee-credit-cards-philippines" target="_blank" positionbutton="mid_1_btn_box_cc_product"]The Young's Perfect Companion[/product]

Robinsons Bank Platinum DOS Mastercard

A shopping credit card that automatically splits your shopping purchases into a two-month installment at 0% interest rate. While it’s a hassle-free and cost-efficient shopping credit card that will make payments lighter, it’s also a rewarding credit card for your everyday use.

[block type="tips" title="Should you consider this card?"]

This shopping credit card has an annual fee waiver once you’ve made 12 purchases in one year with it. If you can make that much purchases in a year and you don’t mind the limited facility that Robinson’s bank has, this credit card can do its job for you.[/block]

[table id=415 /]

[product name="Robinsons Bank Platinum DOS Mastercard" image="https://www.imoney.ph/sites/v2.imoney.ph/files/robinsons-bank-dos-platinum.jpg" link="https://www.imoney.ph/credit-card/robinsons-bank/dos-platinum?src=internal_article_text_no-annual-fee-credit-cards-philippines" target="_blank" positionlink="mid_2_text_box_cc_product" feature="No annual fee if used 12 times in 1 year." cta="https://www.imoney.ph/credit-card/robinsons-bank/dos-platinum?src=internal_article_btn_no-annual-fee-credit-cards-philippines" target="_blank" positionbutton="mid_2_btn_box_cc_product"]No Annual Fee[/product]

Metrobank M Free Mastercard

An entry level credit card that can get all the job done and more. With its low-income requirement and annual fee waiver, it’s an appealing card for first-time credit card applicants and those who just want to have a straightforward credit card without an annual fee to keep the card.

[block type="tips" title="Should you consider this card?"]

It’s a basic credit card, but it’s a straightforward one. It comes with standard charges and fees imposed by the bank, some value-added1 service like Bills2Pay, and it benefits from Metrobank’s promotions. It isn’t as rewarding as premium cards but all the basic perks are in this card and it doesn’t come with an annual fee.
Get this card if you want to easily ace the income requirement and start using a straightforward credit card.[/block]

[table id=416 /]

[product name="Metrobank M Free Mastercard" image="https://www.imoney.ph/sites/v2.imoney.ph/files/metrobank-m-free-credit-card.jpg" link="https://www.imoney.ph/credit-card/metrobank/m-free-mastercard?src=internal_article_text_no-annual-fee-credit-cards-philippines" target="_blank" positionlink="mid_3_text_box_cc_product" feature="No need to think of annual fee ever." cta="https://www.imoney.ph/credit-card/metrobank/m-free-mastercard?src=internal_article_btn_no-annual-fee-credit-cards-philippines" target="_blank" positionbutton="mid_3_btn_box_cc_product"]No Annual Fee[/product]

AUB Easy Mastercard

Perhaps one of the very few credit cards in the country that can let its cardholders choose when and how much they want to pay. It’s a starter credit card that lets you take care of your finances on your own terms.

[block type="tips" title="Should you consider this card?"]

The main take away for this card is its ability to sort out your payment according to your preferred date and amount. This will reduce the chances of late payments as you can easily schedule your due date to your payday. Besides the annual fee waiver, choosing this card means you’ll also have flexibility on your payment terms. If that alone is enticing to you, this is a card to consider.[/block]

[table id=417 /]

[product name="AUB Easy MasterCard" image="https://www.imoney.ph/sites/v2.imoney.ph/files/aub-easy-mastercard.jpg" link="https://www.imoney.ph/credit-card/aub/easy-mastercard?src=internal_article_text_no-annual-fee-credit-cards-philippines" target="_blank" positionlink="bottom_1_text_box_cc_product" feature="The credit card that lets you choose how much to pay and when to pay." cta="https://www.imoney.ph/credit-card/aub/easy-mastercard?src=internal_article_btn_no-annual-fee-credit-cards-philippines" target="_blank" positionbutton="bottom_1_btn_box_cc_product"]Pay Whenever You Want[/product]

RCBC Bankard AirAsia Credit Card

A one of a kind travel credit card that opens up many exclusive AirAsia travel privileges with no annual fees. It’s a perfect card for first-time credit cardholders who love to travel on a budget.  

[block type="tips" title="should you get this card?"]

On the surface, this looks like a travel credit card. Deep down, it’s a basic credit card embedded with travel perks from AirAsia. The best thing about this card is that it comes with low-income requirements and no annual fee*. 

It’s great for first-time credit cardholders who are also budget travelers. Rather than regular reward points, BIG Points are earned for every charge you make to the card of a certain amount of spend with the card. These points can be used to pay for AirAsia flights. 

If you’re the kind who travels frequently with AirAsia, this is the credit card that would make sense for that kind of lifestyle. [/block]

[table id=523 /]

[product name="RCBC Bankard AirAsia" image="https://www.imoney.ph/sites/v2.imoney.ph/files/air-asia-visa-opt.jpg" link="https://www.imoney.ph/credit-card/rcbc/airasia-card?src=internal_article_text_no-annual-fee-credit-cards-philippines" target="_blank" positionlink="bottom_2_text_box_cc_product" feature="Earn 2 BIG Points for every ₱25 spend in AirAsia" cta="https://www.imoney.ph/credit-card/aub/easy-mastercard?src=internal_article_btn_no-annual-fee-credit-cards-philippines" target="_blank" positionbutton="bottom_2_btn_box_cc_product"]Your ticket to free AirAsia flights.[/product]
While there are many types of zero annual fee credit cards on the market, we hope the above list narrowed down the important points you should consider as you weigh the benefits and costs of the type of card you should set your sights on owning.

The post Looking For A ZERO Annual Fee Credit Card? Consider These Top Picks appeared first on iMoney.ph.

For Filipinos, the Christmas season is when everyone looks forward to buying gifts, parties to attend, and food to prepare on Noche Buena. However, above all that, there is one thing that Filipinos (especially employees) are more excited about - their 13th-month pay.

While it's basically an extra month monetary compensation for working for the entire year, its computation will vary depending on your salary and length of service for the entire calendar year.

What is 13th month pay?

Thirteenth-month pay is a form of monetary benefit given to every rank-and-file employee. The Department of Labor and Employment (Dole) said that every rank-and-file employee in the private sector has the right to receive 13th-month pay, provided they worked for at least one month in a year. Basically, the amount of the 13th-month pay is 1/12 of the employee’s annual salary.

What is included in its computation?

Primarily, the 13th-month pay covers only the basic salary of the employee. The computation of the basic salary does not include allowances and monetary benefits that are not considered or integrated as part of the employee’s regular compensation.

[block type="tips" title="Included in the computation"]

Included in the computation

• All of your paid leaves including maternity leave, sick leave, and vacation leaves.
• Your basic pay [/block]

Items that are excluded from its computation are cash equivalent of unused vacation and sick leave credits, overtime, premium, night differential and holiday pay, and cost-of-living allowance. However, if these benefits are treated as part of the basic salary in the employee’s contract or agreement, then they shall be included in the computation of the employee’s 13th-month pay.

[block type="warning" title="Not included in the computation"]

• Bonuses
• Incentives
• Commissions
• Allowances
• Unpaid leaves or absences
• Overtime pay
• Nigh differential
• Holiday pay
• Unused vacation leave and sick leave credits [/block]

The 13th-month pay, as stated in the Republic Act 10653, is not subject to tax, only when the gross benefits received by employees of public and private companies do not exceed ₱82,000. Every employer is required to make a report of compliance with the law to the nearestDOLE regional office not later than January 15 of each year.

How to compute it?

The 13th-month pay is computed based on 1/12 of the total basic salary of an employee within a calendar year, or your basic monthly salary for the whole year divided by 12 months.

 To put it simpler, just get the sum of your basic salary for the calendar year then divide it by twelve.

[block]

Annual Basic Salary (minus unpaid absences) /12 months = 13th month pay

[/block]

Example:

[table id=193 /]

When do you get this 13th pay?

According to the law, the 13th-month pay should be provided to the employees on or before December 24 of each year. In most cases, employees get their 13th-month pay as early as the first week of December, while some within Christmas week or the day before Christmas day.

13th-month pay vs Christmas bonus

Aside from the 13th-month pay, many employees get another benefit called "Christmas bonus." However, this is purely dependent on the employer’s initiative as it isn’t mandated by law.

Inform, this can also vary because it doesn’t necessarily come in cash. Commonly, employers provide Christmas bonus in a form of gift certificates, canned goods or even cash, making it non-taxable.

If employers fail to provide 13th-month pay

An employer who fails to pay the 13th-month benefit can be subjected to administrative cases. Employees can file their charges at the nearest DOLE office. This monetary benefit is pursuant to Presidential Decree (PD) 851 signed by former President Ferdinand Marcos on December 16, 1975, which was later amended by the succeeding President Corazon Aquino. This mandate's sole purpose is to allow Filipinos more discretionary money for Christmas and New Year celebrations.  

It's the only time of the year when our pockets are full or at least a few thousand pesos heavier. As we close in on the Christmas season and plan for our celebration, it's also the perfect time to kick-start our savings or investment plans.

How to make the most out of your 13th-month pay

While Christmas is all about giving (and spending), it wouldn't hurt either to start saving or investing, while you still have the resources. Not to mention, it's the perfect precedent for a financially focused New Year's resolution. The best gift that you can give yourself this Christmas is the peace of mind knowing that your finances are all set for the future! Here are things you can spend on with the 13th-month pay that will help you do that.

Investment

Instead of draining your pocket this Holiday season, why not make your money work for you through investments. There are various channels that could yield high returns for your money, such as mutual funds, stocks, real estate, and forex.

Savings/fixed time deposit

With time deposits, you essentially agree to keep your money in the bank for a predetermined period, say one year, without making any withdrawals until it reaches maturity. The bank offers you a fixed interest rate provided that is higher than savings account if you do not make withdrawals or terminate the contract before the maturity term.

Emergency fund

The ideal emergency fund should be at least your three months salary. Your 13th-month pay is basically equivalent to a single month of your salary, but it ’s good enough to kick-start your emergency fund.

Insurance

The best gift that you could ever give yourself is a secured future, and what better way to do that than to get insurance. Because the inevitable can always happen (especially medical emergencies), being uninsured can leave you crippled financially. You need insurance to protect your health, your ability to earn income and to keep a roof over your head.

The main reason why 13th-month pay was implemented is to serve as monetary relief for Filipinos during the Christmas season, for them to enjoy and celebrate the spirit of Christmas better. This, however, doesn’t mean that you can only limit your spending to gifts and other forms of luxuries to treat yourself this Christmas season. 

[block type="info" title="For your information"]

14th-month pay

Senate President Vicente Tito Sotto filed a bill that will mandate employers in the government and private sectors to provide 14th-month pay to their employees, regardless of the employees' status of employment. Unlike the 13th-month pay which will be paid at the end of the year, this shall be paid on or before May 31st of each year in anticipation of school enrollment of the employees' dependents.

While Senator Sotto vowed to fast-track the approval of the bill, the Senate bill is still pending in Senate, and a House Bill for such law is also suffering the same fate in the House of Representatives.

While this is a measure that is unopposed by the working population, it isn't the case for the businessmen running the private business sector in the Philippines. However, the Department of Labor Secretary Silvestre Bello III said in an interview that DOLE is consulting with both the labor and management on the feasibility of the 14-month pay to workers. He added that Dole would need to study the bill before indicating its position, which would also depend on the result of consultations. [/block]

Source 1, 2, 3, 4

This article was first published in November 2017 and has been updated for freshness, accuracy and comprehensiveness. 

The post It’s Easy To Calculate Your 13th Month Pay! appeared first on iMoney.ph.

DepEd Order 007 s. 2019 indicates that: "The Christmas break shall begin on Sunday, December 15, 2019. Classes shall resume on Monday, January 6, 2020."

DepEd spokesperson Usec. Nepomuceno Malaluan said that class suspensions in previous months are unlikely to affect the schedule for Christmas break this year.

During a phone interview with the DepEd spokesperson, he added that the calendar is localized with the adjustments made in light of school suspensions earlier in the year. So there is no indication that they'll be deviating from the established school calendar.  Malaluan also noted that interventions to make up for lost periods is a localized matter for municipalities that suspend more, because those were LGU initiatives to suspend classes.

"There are municipalities that suspend more, kasi LGUs [local government units] 'yung suspensions eh and there are municipalities that suspend less kaya 'yung interventions for make up of lost periods is more of a localized matter. It will depend on regions and then divisions and even school level."

Christmas break for kindergarten to Grade 12 students in public schools in the country will start on December 15, 2019, according to the school calendar released by the Department of Education (DepEd). This does not necessarily apply to private schools as they can implement their own schedule. According to DepEd spokesperson Usec. Analyn Sevilla, Private schools have their own school calendar hence Christmas break for private school students are set by its school administrators.

[Source]

The post DepEd Announced Christmas Break For Public Schools appeared first on iMoney.ph.

Easing inflation and rising incomes are teaming up to bring poverty rate in the Philippines below 20 percent starting in 2020, according to World Bank projections.

The World Bank’s Macro Poverty Outlook for East Asia and the Pacific released a report this week indicating that the poverty rate is likely to hover within 20.8 percent by end of 2019, down from 26 percent, or more than a quarter of the population, in 2015.

The previous forecasts of the WB had estimated the poverty rates at 24.5 percent in 2016, 23.1 percent in 2017 and 21.9 percent in 2018. These were all projections based on a lower-middle-income poverty line of $3.20 per day. At that threshold, the WB sees the Philippines’ poverty rate further declining to 19.8 percent next year and 18.7 percent in 2021.

The WB report stated that despite a temporary growth slowdown in the first half of 2019, progress on shared prosperity is likely to continue.  it also added that income among lower-middle-class households “grew at a much faster pace than the average.” Cash transfer schemes, like the 4Ps, will continue to help cushion the impact of negative shocks. And lastly, it’s likely that the declining trend in poverty will continue.

In the World Bank’s earlier report, it indicated that the 12-year-old conditional cash transfer scheme called Pantawid Pamilyang Pilipino Program (4Ps) played a role in cutting down the nationwide poverty rate by 1.2-1.5 percentage points between 2012 and 2015. It also reduced income inequality by 0.5-0.6 ppt during the same period, according to the same report. 

In reflection of this, WB also shared that real wages continue to rise and employment continues to expand towards non-agricultural wage employment.

Based on their latest poverty rate figure, it dropped from 28.8 million below the poverty threshold in 2016 to just 23.1 million Filipinos in 2018. The only time that the gains from higher wage and salary incomes got dampened was in 2018 when inflation was on its 10-year high at 5.2 percent. The record inflation was blamed mainly on a surge in global oil prices and an increase in rice prices brought mainly by lack of supply.

The WB also said that continued “high-quality job creation” and “boosting human capital investment” would further boost the impact of economic growth on poverty reduction and “shared prosperity.” Meanwhile, investments and government support for industries and sectors that create “high-quality” jobs are needed to further reduce poverty and inequality. ]

Investments in education, health, and skills development were also needed “for workers to stay competitive in a fast-changing global work environment,” it said.

WB noted that Programs, like 4Ps, need to be improved to “support incomes of poor households and help build their resilience.

[Source]

The post World Banks Sees PH Poverty Rate To Fall Below 20% Starting 2020 appeared first on iMoney.ph.

At iMoney, we are dedicated to helping our readers save money and budget smarter. That’s why we have created a list of tips that will help you cut down on your shopping expenses while getting the most out of your hard-earned money.

The 'ber' months have already started and so have the Christmas shopping season. The hunt for the best Christmas gifts is already in our to-do list. While there isn’t a shortage of stores to find gifts for your manito and manita, shopping for them on a budget doesn’t get easier. Besides, who would say no to some discounts and a little savings on their shopping expenses? 

With these tips and a little effort on your part, you can potentially save some hundred to thousands of pesos on your upcoming christmas shopping spree!

1. Take advantage of your credit card rewards points

If you’ve been a credit cardholder for almost a year and have been (efficiently) using it for your transactions, chances are, you’ve collected enough points to either pay for a purchase or exchange for some neat items.

Most people tend to forget that *some* credit cards have this feature because let’s face it, we’re all chasing our bills, and keeping track of those reward points is the least of our worries.  Well, guess what? The year has come to a close and as we’ve successfully made another lap around the sun, so did our credit cards (in case you haven’t noticed).

If you’ve been efficient enough and depending on your credit card utilization, your rewards point could equate to a one-way airfare or even a home appliance at the end of the year.

[product name="Citi Rewards Card" image="https://www.imoney.ph/sites/v2.imoney.ph/files/Citi-Rewards-Card-opt.png" link="https://www.imoney.ph/credit-card/citibank/rewards-card?src=internal_article_text_7-simple-shopping-hacks-will-save-money" target="_blank" positionlink="top_1_text_box_cc_product" feature="Trade points into Rewards!" cta="https://www.imoney.ph/credit-card/citibank/rewards-card?src=internal_article_btn_7-simple-shopping-hacks-will-save-money" target="_blank" positionbutton="top_1_btn_box_cc_product"]Get up to 3x Rewards Points when you shop, dine, or buy airfare tickets.[/product]

2. Use your cashback credit card

No matter what the occasion is, you could never go wrong in using your cashback credit card (just make sure to settle your credit card bills promptly so that it wouldn’t defeat the purpose of earning a cashback). It doesn’t exactly cut down your shopping cost, however, it will give you some extra cash credit at the end of your credit card’s billing cycle.

You may not feel the impact of the cashback upon earning them, but it will amount to a good sum of money in the long run. If you earn ₱500 worth of cashback in a month, that’s ₱6,000 money earned for the entire year!

While you don’t get to use that cashback directly, it will, however, give you a better perspective of how much difference a small amount of savings can go.

[product name="HSBC Gold Visa Cash Back Card" image="https://www.imoney.ph/sites/v2.imoney.ph/files/rsz_snap_2017-06-30_at_163843%20%282%29.png" link="https://www.imoney.ph/credit-card/hsbc/gold-visa-cash-back-credit-card?src=internal_article_text_7-simple-shopping-hacks-will-save-money" target="_blank" positionlink="mid_1_text_box_cc_product" feature="Low minimum monthly income requirement." cta="https://www.imoney.ph/credit-card/hsbc/gold-visa-cash-back-credit-card?src=internal_article_btn_7-simple-shopping-hacks-will-save-money" target="_blank" positionbutton="mid_1_btn_box_cc_product"]5% Cashback for all dining spends.[/product]

3. Vouchers, vouchers, vouchers

They’re a heaven-sent gift for people who love to shop online. From free shipping vouchers to actual discounts, you can score some great deals that will save you a good amount of money.

[block type="content-reverse" title="How and where to get shopping vouchers?"]

• Zalora - they give ₱300 worth of shopping vouchers when you sign up for their newsletter.
• Lazada -  oftentimes, Lazada explicitly displays their shopping vouchers on their homepage and on their banners. They often give out discount vouchers and any given day, and if you watch out for those, you might be able to score a good sum of money on discounts.
• ShopBack and iPrice - being aggregator sites for different online marketplaces, they also aggregate vouchers from their featured merchants.
• Metro deals - this website is a treasure trove of discounts and perks. If you're looking for some good money-saving deals for a fancy dinner, vacation packages, hotel bookings, spa services, and etc., you can try your luck in checking out how affordable they can get from this website.[/block]

4. Shop from aggregator websites

ShopBack.ph and iPrice.ph feature a wide array of online merchants in a single catalog. You can compare and contrast items from different stores side-by-side, making it easier to find the lowest price for the item that you want to purchase.

These websites also partner with many e-commerce giants in the Philippines such as Lazada and Zalora, thus they also have many exclusive discount coupons from their partner merchants. When there’s a sale or promotion on their partner merchants’ sites, you can get exclusive discounts if you shop through their portal and use their vouchers.

5. Shop during flash-sales from popular online shopping sites

Shopee and Lazada are two of the most prominent e-commerce websites in Southeast Asia including the Philippines. These two rival shopping portals have made it a trend to leverage on Palindrome dates (dates that can be read the same backward and forwards) to hold more frequent flash sales than we ever had even in our biggest shopping malls.

What are these dates? They’re dates with a repeating sequence of numbers (not necessarily including the year) and they’re almost a monthly occasion for Lazada and Shopee. Typically towards the end of the year, these local ecommerce players hold website wide sale dubbed as 10-10 on October, 11-11 on November, and 12-12 on December. From free shipping to discount vouchers on chosen items, watching out for these flash sales will potentially save you thousands of pesos given that you shop is huge volumes - percect way to accomplish wishlists of your pamangkins and inaanak..

6. Shop from international retailers

Many imported items that we purchase in the Philippines go through a layer of transactions and tariffs before it reaches our local stores. From the supplier to the actual retailer, the pricing will undergo a series of pricing adjustments to generate revenue for the resellers. When an imported item reaches the Philippines, the price could be around 20 to 50 percent higher than its actual price.

It isn’t easy to shop internationally. The shipping limitation alone will already pose a challenge. You will also account for the shipping fee, which should be pricier than when you shop from local shopping sites. Depending on what you’re shopping for, the savings may or may not be worth the hassle.

[block type="info" title="What are the items best bought from international retailers?"]

Clothing and apparels (especially shoes!) take the cake for this option. Imported shoes made in the United States are at least 20 to 40% less expensive when bought from US-based retailers.

Shopping in US-based e-commerce sites used to be impossible for people living outside the US, as shipping are mostly limited domestically. If you don’t know anyone in the US who could shop and ship for you, there are now package consolidation companies based in the US (myus.com/ph/). They provide a US postal address to ship items to and have them delivered to you in the Philippines.[/block]

7. Keep track of the exchange rate

The foreign exchange rates change daily, and it fluctuates at any given time in a week. If you’re shopping online from international retailers, ideally, it is wiser to hold off until the exchange rates for peso are higher.

Banks may also play a role in this because their exchange rates are usually higher than the actual rates. It helps to have a credit card from a bank that offers good rates and perks for shopping online and internationally.

[block type="tips" title="Pro tip!"]

Use credit cards that will multiply your rewards for shopping internationally.[/block]

8. Track the prices

You can manually track the prices from one period to another, however, there’s an easier way to do so without having to do it manually. You can go to aggregate sites like iPrice.ph to compare the prices from one merchant to another or install a price tracker extension on your browser.

[block type="content-reverse" title="Price trackers"]

Tracking the price may not give you an actual discount, however, it can benefit you in two ways:

1. It can tell you if a merchant is actually having a “sale” or not, based on their pricing history.
2. It can tell you which items have been marked down (more applicable to electronics because price adjustments for old variants aren’t explicitly announced by merchants).[/block]

The countdown to Christmas and the New Year is already well underway and many of us are already feeling the pinch from finding gifts for friends and family while trying not to spend all our money before month’s end. Hopefully, these money-saving tips will help to ensure you and your bank balance remain healthy and happy through this holiday season.

[Source 1, 2]

The post Christmas Shopping Hacks That Will Save You Money appeared first on iMoney.ph.

Whether or not you're a first-time credit card user, chances are you don't completely understand all the terms stipulated in your monthly statement and how they work exactly.  While it's a known fact that credit cards can be a great financial tool to efficiently manage your cash flow, it's only possible if you're completely aware of how they can aid you in doing that.

Being prompt on paying your credit card bills is one thing, knowing how you can leverage from its particulars will make owning one more rewarding. Besides, the less you know about something, the more prone you'll be to committing mistakes - and credit cards are no exception.

One of the key tricks to efficiently use your credit card is understanding its language. To help you do just that, we define all those hard to understand credit card jargons.

The post What Is Your Credit Card Telling You? appeared first on iMoney.ph.

[block type="info" title="Table of contents"]

1. Singapore

2. New Zealand

3. Australia

4. Saudi Arabia

5. United Arab Emirates (UAE)

6. United Kingdom (UK) [/block]

There are an estimated 2.3 million Filipinos working overseas as of September 2018, according to the most recent data of the Philippine Statistics Authority (PSA). There seem to be no sign of slowing down as more Filipinos fly to another country due to the relentless demands for skills and occupations that many of us could fill.

Countless countries have promising opportunities for expats, some may be better than the others. However, there are those countries that have proven time and again that they offer better opportunities for Filipinos. Other than bigger income, they have their own merits that made them home to many OFWs.

Here we list down the best places around the world that a Filipino could work in and perhaps later call home.

1. Singapore

Famously known as the Lion City, Singapore is one of the most thriving nations in Southeast Asia, appealing to foreigners as an outstanding tourist and work destination.   According to a study conducted by HSBC in 2015, Singapore is the number one country in the world for expats. Beyond this country’s wealth, extravagance, and progressive landscape, it’s simply looked-up to due to its high-quality of life and unmatched safety.

Why do Filipinos choose Singapore?

From a strong currency to long-term career opportunities, Singapore has all the elements that could easily appeal to Pinoys planning to work overseas. Here’s a quick breakdown of why it’s one of the most sought after destinations for Filipinos. 

a. Close proximity to the Philippines

Other than the salary, this is probably one of the biggest pros of working in Singapore. It’s only 3 to 4 hours flight away from the Philippines, making it easier to fly back to your loved ones when homesickness kicks in.  The vast availability of direct flights to and from major cities in the Philippines also makes it all the more accessible for OFWs coming from different parts of the country.

b. Easier to find direct hire employment opportunities

While overseas employment agencies are there to dole out job opportunities overseas, they aren’t always tailored to fit many professionals’ expertise and experience. For better job prospects, you can find direct hire opportunities through job portals in Singapore, or referral of a friend who’s already working there. Others would even just apply directly through their prospective employer’s website, and if they’re competent and lucky enough, they get hired with no need for an agency.  

c. Less complex visa-related paper works

First things first – visa.  Singapore’s visa approval regulations have become more strict throughout the years. Despite that, the fact remains that this is one of the countries that can easily grant you a visa with very little bureaucracy. As long as the government deems you as fit for the job and your employer meets their requirement, you’ll get your work pass in just a few weeks.

Singapore grants a different visa for different types of foreign workers. Depending on your skill set, profession, and experience your visa could be one of the following:

[table id=525 /]

Other than the visa process, POEA and OWWA registration is a must to be legally recognized as an OFW in the Philippines. 

d. Good salary and job stability

One Singapore Dollar is equivalent to more or less PHP37. That alone is a very appealing reason why a lot of Filipinos work in Singapore. When it comes to the salary, the minimum that you get will be dictated by your work visa (or vice versa).  Depending on your visa, you are entitled to the following salary:

[table id=526 /]

e. The chance to become a Permanent Resident

Western countries aside, Singapore is the only country in Southeast Asia that grants Permanent Resident status to foreign workers who have proven to be a valuable contributor to the economic activity of the country.  The road to PR may not be easy, but given the right profession and competence, it’s good to know that Filipinos stand a chance at getting such status in Singapore, just like many other Pinoys who have in the past. 

The in-demand jobs for Filipinos in Singapore

• Nurses
• IT Professionals (Programmers, Developers, Digital Marketers, etc.)
• Engineers
• Architects
• Sales and Marketing Professionals

How much is the salary of an OFW in Singapore?

Midlevel skilled staff:  S$2,300 and not higher than S$3,600

Professionals: S$3,600 and higher

The cons of living in Singapore

Clearly, living in Singapore isn’t just all about efficient public transport and a considerably big salary for a Southeast Asian country. It also comes with challenges that may take some aback:

• The extremely high cost of living
• Housing isn’t really as prestigious as you may though. HDBs alone are expensive, most Filipinos even share their room with 2 or more people to save on rent. 
• Life in Singapore is fast-paced and busy, it isn’t one for the faint of heart. 
• Work culture can get extremely toxic, depending on your occupation. Many Filipinos who work for the F&B sector don’t get the regular 2 days off a week, but rather only a few times a month.

2. New Zealand

A tiny island nation located in the Pacific Ocean, a close neighbor to Australia. A country oozing with wonderful nature reserves and wildlife. It easily tops the poll in one of the best places to live in the world. 

Why do Filipinos choose New Zealand?

According to a study, 3 out of 10 Filipinos who currently work and live in New Zealand say this country is their best host country.  In HSBC’s expat report, it’s not just Filipinos who think so. Expats, in general, think New Zealand is the best destination as it ranks first in the HSBC Expat Explorer. 77% of expats say that their overall quality of life is better since moving to the country.

Aside from what statistic says, here are the top reasons:

a. Equal opportunities for all OFWs no matter the gender. 

New Zealand ranks 7th among the 149 countries in 2018 on the World Economic Forum’s Global Gender Gap report. It isn’t uncommon to find women in industries that are typically male-dominated like the IT and banking sectors. 

b. Path to citizenship

Just like many western countries, New Zealand grants citizenship to individuals who can prove to be a significant contributor to the economic activities of their country. There are various occupations that can lead to citizenship, many of which Filipinos are commonly equipped with the right expertise, skills, and education to fill. 

You can check their requirements and eligibility for citizenship grant here. 

c. Safest country in the world

New Zealand grabbed the second spot of the 2017 Global Peace Index. With an extremely low crime rate and high religious tolerance, everyone will feel safe to live here. 

The in-demand jobs for Filipinos in New Zealand

Job opportunities in New Zealand are in two categories: the immediate and the long-term skill shortage. The immediate shortage are those jobs that are momentarily in-need of manpower, while the long-term shortage are jobs that have a demand for years or even decades to come. 

[block type="content-reverse" title="Occupations on the immediate skills shortage list include:"]

• accountant
• arborist
• baker
• building inspector
• construction project manager
• midwife
• nurse
• outdoor adventure guide
• snow sport instructor
• stonemason
• university lecturer
• winemaker [/block]

[block type="content-reverse" title="Occupations on the long-term skills shortage list include:"]

• construction
• engineering
• finance
• health and social services
• hospitality and tourism
• ICT, electronics, and telecommunications
• science
• Trades. [/block]

Whether you’re planning to settle in New Zealand or simply there to reap the benefits of their employment opportunities until you figure out your next career move, knowing your visa options will help you find an employment opportunity aligned with your goals. 

[block type="tips" title="Work visa types"]

Essential skill work visa 

Visa meant for temporary stays. The duration and conditions of the visa depend on the term of your job offer, your salary and labor market conditions.

Work to residence
It comes with two classifications: long term skill shortage and an accredited employer.
Long term skill shortage is for occupations that fall under the long-term skill shortage list. Meanwhile, the accredited employer is dependent on an employer. [/block]

You can read more about it in New Zealand’s immgration portal here. 

How much is the salary of an OFW in New Zealand?

It’s worth noting that your level of qualification and your occupation will ultimately determine your actual salary. However, in the interest of raising awareness about the baseline salary in New Zealand, knowing how much the minimum wage is a good place to start.

The minimum wage in New Zealand is NZ$ 17.70, which equates to a minimum of NZ$708 a week or NZ$2,832 a month.  

The cons of working in New Zealand

It’s no doubt that New Zealand is easily one of the best choices for an overseas work opportunity. However, there are certain considerations that you will have to take stock:

• Immediate skill-shortage opportunities don’t always guarantee permanent residence and citizenship. Due diligence and thorough research are necessary to make sure that your work opportunity will meet your long-term goal here. 
• PR status will only be granted to expats who meet the required salary.
• Overseas travel may prove to be a challenge if you live here due to its location. Traveling to Perth Australia (the opposite end) will already take more or less 8 hours from Auckland. 

3. Australia

The land down under, famous for its wildlife, outbacks, and beaches.  Australia is one of the most highly urbanized countries in the world, with well-known known large cities such as Sydney, Melbourne, Brisbane, and Perth.

Why do Filipinos work in Australia? 

It's easy for Filipinos to feel at home in Australia due to its friendly climate, picturesque scenery, abundance in leisure activities, and laid-back culture of Australians.  InterNations’ Expat Insider survey found that four-fifths of expats adapted easily to the “Aussie” culture, making the land down under instantly feel like their second home. 

a. World-renowned healthcare

In a study of 11 different national health care models, researchers at the New York-based Commonwealth Fund ranked Australia's mixed public-private system second best. The study found that Australia ranked highest on Administrative Efficiency and Health Care Outcomes. It was also among the top-ranked countries on Care Process.

b. Diverse population

Big cities especially are made of residents from different nations, not just Aussies. Couple that with an outdoor lifestyle that encourages its people to socialize better, it’s easy to come across like-minded individuals. 

c. High minimum wage

Salary is competitive, full-time salary in Australia averaged to  A$82,436 a year in the second quarter of 2018.

d. Work-life balance

It's hard to ignore just how amazing your life outside work can be when you're living in Australia. With heaps to explore – from beaches to rainforests and everything in between – you'll be spoilt for choice during your time off, allowing you to not just achieve work-life balance but relish in it.

e. Work opportunities open up the chance to PR or citizenship

Just like many western countries, Australia too grants citizenship to individuals who can prove to be a significant contributor to the economic activities of their country. There are various occupations that can lead to citizenship. There are also study opportunities that can give you a chance to get employment opportunities that will lead to citizenship!

The in-demand jobs for Filipinos in Australia

• Health Care and Social Assistance (1,663,900)
• Retail Trade (1,286,900)
• Construction (1,167,200)
• Professional, Scientific and Technical Services (1,033,000)
• Education and Training (1,024,300)

Source: https://www.sbs.com.au/language/english/australia-s-10-most-in-demand-jobs-revealed

How much is the average salary of an OFW in Australia?

Salary, of course, will vary according to an individual’s profession and competence. Your job and experience will ultimately dictate how much is the baseline wage that you should expect. However, in the interest of raising awareness about the baseline salary in Australia regardless of the occupation, the minimum wage may give you a rough estimate. 

The national minimum wage in Australia is $18.93 per hour or $719.20 per week for a 38-hour week.

4. Saudi Arabia

It’s a cliche OFW destination but this country just continues to provide more and better work opportunities for Filipinos. Overseas Contract Workers (OCWs) with existing work contracts comprised 96.2% of all OFWs during the period April to September 2018, based on Philippine Statistics Authority’s (PSA) data. And, it will continue to be a hotspot for OFWs in the years to come as it always has been according to projections. 

Why do Filipinos work in Saudi Arabia? 

An estimate of 2.3 million OFWs is based in the Middle-East in the second quarter of 2018, according to the PSA. Despite its distance from the Philippines and many unpleasant reports of harsh living conditions of many OFWs, a lot of Filipinos still prefer to work here and it’s easy to see why. 

a. High salary

The financial benefit of working in Saudi Arabi is the top reason why many like to work here. The salaries are tax-free and the pay itself is considerably bigger than other countries Saving money will be easier while still managing to send money back to the Philippines.

b. Employment opportunity

Saudi Arabia is one of the hardest places to do business, but that also makes it all the more rewarding. Establishing a good employment record in Saudi will demonstrate your adaptability and global business skills, making you more appealing to your future employer. 

c. Low cost of living

Another benefit is the low cost of living, despite being a developed nation. This is the reason why many expats enlist the services of drivers, maids, nannies, and gardeners. While at the end of the day, your cost of living will still depend on your financial discipline, it's safe to say that expats can easily enjoy a good life here if they choose to. 

d. Close to many travel destinations

Saudi Arabia's close proximity to Europe and its neighboring regions makes it a central location for many top travel destinations. This is where the world’s busiest airport is, after all, the Dubai International Airport. Their national carrier, Saudi Airlines, also offers world-class standards of safety and comfort. 

The in-demand jobs in Saudi Arabia for Filipinos

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• Petroleum Engineers
• Multinational Companies
• Surgeon
• Banking
• IT Industry
• Project Management
• Media and Public Relations
• Ads and Creative Designing
• Real Estate Dealers
• English Teaching
• Private school teaching jobs
• AutoCAD Draftsman

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Source: https://www.mysaudijobs.com/blog/popular-jobs-saudi-arabia/

How much is the average salary of an OFW in Saudi Arabia?

Unlike other countries in the world, Saudi Arabia has no official minimum wage for the private sector. What it has is only a minimum wage for the public employees, which is Saudi riyals (SAR) 3,000 Saudi riyals per month. 

Other sources, however, show that the aggregated average salary in Saudi Arabia for white-collar jobs is SAR115,897 a year or SAR9,658 a month.

Source: https://www.payscale.com/research/SA/Location=Riyadh/Hourly_Rate

Cons of working in Saudi Arabia

• Women will have to face certain conservative restrictions when living here, from the way they dress to the way, they interact with others. 
• There are limited cinemas and theaters. For the movie buff, you might have to leave that hobby behind in the Philippines
• Security is high, which can also be very restrictive to a lot of people’s lifestyles
• Definitely not a country for the LGBT
• Ultra-conservative public social norms on the overall
• They don’t offer citizenship, although most Filipinos are not looking to settle down

5. United Arab Emirates

This is another nation in the Middle East that attracts many expats from different countries, not just the Philippines. As rich as this nation is in oil, the same can be said for job opportunities that promise a rewarding career that pays well. 

Why do Filipinos work in UAE? 

With its thriving economy, OFWs in general basically reap more than just better pay by working here. Financial rewards may be one of the major factors, but what makes expats (especially OFWs) stay transcends beyond income - there are more perks here than what most people think!

a. Gateway to more tourist destinations

Free-spirited Filipino travelers would enjoy the fact living in the UAE brings them closer to more tourist destinations that Filipinos couldn’t easily fly to. While it isn’t exactly near Europe or UK, it cuts the travel time in half (than the typical 1-day travel from the Philippines) and the cost too! Tourist visa application is considerably cheaper and easier too. 

On top of that, UAE also houses one of the world’s most renowned destinations in the Middle East, Dubai and its lavish tourist-friendly offerings.

b. Rich lifestyle

The UAE has exceptional utilities and benefits for citizens and residents alike. From convenient work hours that promote work-life balance to world-class healthcare and education, these small things make this nation all an appealing place to settle for expats, especially OFW. If anything, this makes UAE uphold a high standard of living. 

c. Global exposure

UAE has a very diverse workforce coupled with multinational businesses. With that being said, working here will provide tons of opportunities to enrich your CV to further your career in the future. 

d. Tax-free income

High income would usually come with higher income taxes, but in UAE (just like Saudia Arabia) you’ll have a bigger take-home because you don’t have to pay any income taxes. That’s additional savings for you and your family. 

In-demand jobs in the UAE

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• IT security analyst
• Applications developer
• Systems administrator
• Accounting and finance
• Finance director (large company)
• Financial planning and analysis manager (large company)
• Financial analyst (large company)
• Financial services- Compliance manager
• Financial services -Investment banking/M&A associate
• Financial services - FX sales manager [/block]

Source: https://gulfnews.com/business/revealed-uae-jobs-skills-in-demand-in-2019-1.2295609

How much is the average salary of an OFW in UAE?

Just like in Saudi, there is no national minimum wage for private employees. However, UAE nationals are subject to certain specific salary thresholds and requirements. If a UAE national has no high school certificate, his or her salary should be at least AED 3,000 per month.

Other sources, however, show that the aggregated average salary in Saudi Arabia for white-collar jobs is SAR 115,897 a year or 9,658 a month. For more specific figures according to job title and industry, you can check this link out. 

Cons of working in UAE

• The cultural and religious setting is extremely different from the Philippines
• Housing rentals are paid annually and upfront.
• Summers are extremely hazardous.
• Healthcare providers are not always reliable.
• Citizenship is not impossible, and the naturalization process is extremely difficult for non-Arabs. 

United Kingdom

It is one of the largest economies in the world, and the third in Europe. United Kingdom (UK) is rich in history which is well-known throughout the world. They have preserved their traditions along with the heritage buildings and other historical sites and is home to many world-famous landmarks that every tourist has dreamt of visiting. On top of that, there are jobs and resident opportunity for those who seek to live and work here.

Why do Filipinos work in the United Kingdom? 

Probably on top many Filipinos bucket lists or lifegoals to live and work here, and it’s easy to see why. For those who have already made it here, the financial reward isn’t what’s keeping them stay, but rather everything else that comes from being a resident here. 

a. The opportunity to be a citizen

This is without a doubt the topmost reason why many Filipinos prefer to work here. Permanent employment in the UK often leads to PR or citizenship. The UK may have tightened its immigration policy, adopting Australia’s points system so that their economy’s needs will be met. However, this does not restrict expats from becoming a citizen, provided they meet the required qualifications. 

b. Free healthcare

Citizens and permanent residents alike mainly benefit from the UK’s healthcare, which is free at the point of use and paid for from general taxation. It’s basically free for all as long as you’re a tax-paying citizen in their community.

c. Free education

Just like healthcare, their education system is also subsidized through their taxes. The state schools from pre-school to colleges and universities do not charge fees. The only expenses to the parents for their child’s education are for uniforms, school trips, and school supplies. 

d. Equality 

Everyone from all walks of life and whatever gender they associate with is treated equally in the UK. They have a law that strictly forbids any discrimination on the basis of gender equality, disability, marital status, age, race or religion, belief or sexual orientation.

e. Opportunity to bring their family

One of the biggest perks of working in the UK is the opportunity to be reunited with their family. Provided that certain eligibility in job and salary is met, it’s fairly possible for any Filipino to migrate here with their family. 

In-demand jobs in the UK for OFWs

The easiest path to citizenship in a country like the UK is fulfilling the job opportunities that fall under shortages of skilled labor. While to date, most OFWs who find success in migrating in the UK are mostly Filipinos professionals from the field of nursing, there are also other occupations that can find the same opportunity here such as the following:

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• Engineers
• Software developers
• Consultants
• Teachers
• Chefs
• Designers
• Sales executives
• Nurses [/block]

How much is the average salary of an OFW in the United Kingdom?

Salary, of course, will vary according to an individual’s profession and competence. Your job and experience will ultimately dictate the baseline wage that you should expect. However, in the interest of raising awareness about the baseline salary in the UK regardless of the occupation you are in,  the minimum wage may give you a rough estimate. 

UK’s minimum wage is £8.21 per hour. If you work 40 hours a week, that equates to £1,313.6 a month. Those figures may be low considering the cost of living in the UK is extremely high, professionals who migrate in the UK usually earn more than the minimum wage. Say for example nurses. They earn an average of £2,704 a month. Other occupations that are under the UK’s list of shortages also earn more even more than that. 

Cons of working in the UK

• Salary may be high, but so is the cost of living. From food to transportation and utilities everything is more expensive.
• Rents are very expensive especially in London, and purchasing a property is even more expensive.
• Homes and accommodations are extremely compact.

Recession or not, Filipinos could always find their way to the workforce of another country, legally. Despite the challenges that working overseas entail, many Filipinos still thrive and come out successful in the field of their profession overseas. With the proper expectations and enough preparation, venturing to the world beyond the Philippines will surely promise you more than just monetary rewards.

The post The Top Destinations To Be An OFW appeared first on iMoney.ph.