NDP committed to reducing remittance fees

By Admin Wednesday June 29 2016 in
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Dear Editor:

With a recent rise in service charges, people across the Caribbean are being gouged by a Canadian bank to hold their own money; these are grandmothers and grandfathers, aunties and uncles who simply can’t afford to pay higher fees. It’s forcing many of them to withdraw their savings. That’s just not fair.

At a time like this, when people back home are finding it harder to pay the bills, so many Ontarians continue to send money back home to help.

As a nation, Canadians send roughly $24 billion in international remittances each year. For some it can cost more than $40 to transfer $100 back home. I believe you shouldn’t have to pay such a high price to help the ones you love, especially in times of need.

I’m proud that in 2012, the Ontario NDP put forward a bill that would cap the fees you pay to send money back home at 5 per cent so sending $100 would only cost you $5.

That’s fair. And it’s the right thing to do.

We should be making it easier to help, not harder. You can count on Ontario’s NDP to keep fighting to make it more affordable for you to send money to your loved ones back home when they need it.

Andrea Horwath,

Leader, Ontario NDP

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