298 DISCLOSURE OF REMITTANCE CHARGES AND OTHER RELEVANT INFORMATION1
a. Transfer/remittance fee – charge for processing/sending the remittance from the country of origin to the country of destination and/or charge for receiving the remittance at the country of destination;
b. Exchange rate – rate of conversion from foreign currency to local currency, e.g., peso-dollar rate;
c. Exchange rate differential/spread – foreign exchange mark-up or the difference between the prevailing Bangko Sentral reference/guiding rate and the exchange/conversion rate;
d. Other currency conversion charges – commissions or service fees, if any;
e. Other related charges – e.g., surcharges, postage, text message or telegram;
f. Amount/currency paid out in the recipient country – exact amount of money the recipient should receive in local currency or foreign currency; and
g. Delivery time to recipients/beneficiaries – delivery period of remittance to beneficiary stated in number of days, hours or minutes.