MoneyGram, a global transfer and payment services company, has introduced a flat fee for money transfers from Saudi Arabia to the Philippines.

The flat fee of just SR15 ($4) is regardless of the amount being sent and the promotion is valid until July 6, the company said.

It said there will also be no so-called "backend fees".

This new flat fee is designed to help Filipinos in Saudi Arabia sending money back home to support their families and friends for their daily needs and life's essentials. They can now transfer money at a minimal fee to any of 11,000 agent locations where receiving customers may enjoy the excellent service of MoneyGram, the company said.

The cash might be picked-up in just 10 minutes, subject to the agent operating hours and compliance with the regulatory requirements.

"We have dramatically lowered fees to appreciate hard working Filipino migrants," said Maher Haddad, senior regional director of MoneyGram for Middle East, Pakistan and Afghanistan. "At the same time we guarantee that at the other end the receiving customer in Philippines will not be surprised by any backend fees," he added. - TradeArabia News Service