A nationwide federation of cooperatives launched on Tuesday a one-dollar remittance scheme for overseas Filipinos.Dubbed as National Cash Card program, or simply N-Cash, the new remittance system offers overseas Filipinos a much cheaper option in sending money to their loved ones in the Philippines.N-Cash is a cash card issued by Natcco and can be used not only for card-to-card remittance from overseas but also for pre-paid cellphone loading and bills payment for the locals Transactions using N-Cash can be done through the Natcco electronic facilities provided by its technology partner, iPay Solutions. the $1 remittance fee is a fixed rate, but Natcco would implement a ceiling on the amount of remittance that can be sent to the Philippines.
Natcco chairman Wilfredo Dimamay said the ceiling for N-Cash is $2,000.ofw can get their N-Card in USA, Hong Kong, Middle East, Vietnam, Australia at Turkey. here they can get their remittance in Natcco office and other bayad centers.
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