GLOBAL REMIT: MACAU’S SOLUTIONS TO GLOBAL REMITTANCES [ADVERTORIAL]

Global Remittances Company Limited began its international money transfer services in June 2021 after about half a year of preparation since the company was established in Macau, with just two countries to transfer money to – Indonesia and the Philippines.  

In less than two years, the company known simply as Global Remit already has a growing customer base, who can now send money to 22 countries and regions.  

“We began hiring and training staff in April 2021,” Satini Almeida, the company’s operation manager, recalls. 

The Service 

“Our vision was and still is to accommodate different communities in Macau, especially foreign workers, who need to send money overseas, to their hometowns,” she adds. 

The company started with Indonesia and the Philippines as they are two of the biggest foreign workers’ communities in town.

“Indonesia started out as our top destination because in Macau there was no legal remittance service to Indonesia,” except by bank transfer, which can be time-consuming and less cost-efficient, according to Almeida. “Until today, we remain the only legal remittance company for sending money to Indonesia.” 

She continues, “Some years ago there was Western Union but it’s no longer around and we are currently working on a partnership with them to start some services in the near future.” 

In addition, Global Remittances Company Limited currently has a cooperation with Ria Money Transfer, a United States-headquartered subsidiary of Euronet Worldwide, Inc., which specialises in money remittances. It is one of the world’s biggest remittance companies, alongside Western Union. 

“Many locals study abroad and their parents in Macau need to send money to them too, so we are here to support not only the foreign workers but also the locals,” stresses Almeida, who promises customers that their money would reach the destination within 5-10 minutes, known as real time transaction, in contrast with bank transfer which can take a few days for the recipients to get the money. 

Plus, through its partnership with Ria Money Transfer, Global Remit allows cash pick-up by the recipients, meaning that sending money to a certain bank account is not a must. 

Global Remit’s services can also be done via mobile app’s easy transfer. However, first-timers must send money at the counter as all first-time customers must be registered in person. 

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The Issues

She adds, “Our services are not only government approved, but we are also government screened. We can track down money potentially sent to anyone related to terrorism activities and it would be blocked. 

“Another example, we used to send money to Myanmar, but as Macau’s authorities have informed us it is currently a high-risk country, we no longer send money to Myanmar, for the time being.” 

Almeida further clarifies, “We make sure that the money that our customers send overseas is safe.” 

Asked about the recent announcement by local monetary authorities who urge Indonesians in town not to use illegal money transfer services at some local Indonesian shops in Macau, she replies, “I think some people within the Indonesian community here already know that the remittances they do at those shops are illegal.” 

She says, “That’s why we are seeing about 30 percent of them have switched to using our services. They want to do the right thing and the safest way in sending money back to Indonesia.

“They know that if the money’s lost or if something happens with those shops, who will they sue or will they be able to sue anyone for something they have done illegally?” 

She was quick to add, “Unfortunately, there are still many of them who believe otherwise, even after we or their own friends educate them on this matter.” 

Almeida, who originally came from Indonesia, encourages all people in Macau – not just foreign workers and, particularly, Indonesians – to use legal remittance services. 

“We came to Macau, work and do everything here legally, so we should send our money overseas legally too, following the local government’s rules and regulations.” 

The Confusion 

When it comes to those shops across Macau that offer illegal remittance services, she understands that many may think “it’s impossible those shops are illegal and remain open until now”. 

She explains, “They are correct. The shops are legal but they do not have the authority or a permit from the Macau Government to carry out any form of remittance services.

“So, the shops are legal and the things they sell may be legal, but their money-transfer service is certainly not legal, unless the government says so.” 

Another thing, she adds, “if we work in Macau, our salaries are in MOP, when you send via the illegal money-transfer services by those legal shops, they use HKD. Your MOP is first converted to HKD before you can have your money sent to Indonesia.” 

She points out, “So you actually buy HKD, plus the different transfer fees for different amounts you send, which means you are spending more when you send money through those shops.

“Global Remit sends in the local currency, which is MOP, and only has one fee as required by the government.” 

The local authorities have set a maximum money-transfer of MOP 20,000 per person, per day via a legal remittance company in town, with the transfer fee’s cap set between MOP 30-50. 

In Macau, there are only three legal remittance companies, comprising Global Remit, BDO and Pacific Ace. And the only one that sends to Indonesia is Global Remit. 

According to Almeida, her company has been working closely with various local Indonesian groups – including migrant workers’ and religious organisations – to educate her compatriots on this matter. And they will continue to do so as the company vows to continue following the government’s directions on this and other issues. 

The Future 

Almeida hopes that the city’s Labour Affairs Bureau (DSAL) will in the future urge every employer to educate and ask their foreign workers to send money back home by using legal remittance services. 

“First of all, I think the employers need to know also that there are currently only three legal remittance companies in Macau and that other than from these three companies, other remittance services in the city are illegal, even if they are offered by legally-established shops.” 

Global Remit also strives to continue upgrading their services in the future, including increasing the number of countries for money transfer and enhancing customer service’s quality. 

“Our staff members are so far known to be very professional yet very friendly,” says Almeida. “Many of our customers even say ‘I prefer Global Remittance because the staff members are all nice and very helpful’.” 

She adds, “This is exactly what I’ve implemented from the very beginning. I told my staff that we belong to the customers.” – GNM 

Global Remit is assisting migrant workers in Macau with a remittance system that allows fast transfers, almost real time, reduced fees, and the best exchange rates. Send money from Macau to all bank accounts or for cash pickup in Asian countries like the Philippines, Bangladesh, Indonesia, India, Malaysia, Nepal, Singapore, Thailand and Vietnam.

Global Remit is now also providing Macau citizens with the ability to send money to Western Countries, whether to pay for their children’s education, for investment purposes, to settle real estate and property expenses, to support family and friends, or other reasons. Send money from Macau to all bank accounts in Australia, Canada, Portugal, United Kingdom, or the United States of America and many others.

We are licensed by the Government Monetary Authority of Macau to operate as an official Remittance Company provider in Macau.

Currently serving 22 countries and regions: Australia, Bangladesh, Bhutan, Brazil, Canada, Hong Kong, India, Indonesia, Japan, Malaysia, Nepal, Pakistan, Philippines, Portugal, Singapore, South Korea, Sri Lanka, Thailand, UAE, UK, US, Vietnam.

Source and Photos: Global Remit