To the Legislative Assembly of Ontario:
WHEREAS, people are being charged extremely high fees to transfer money overseas, up to 20%, on the average remittance of $50
WHEREAS, there has been widespread support for stopping companies from charging predatory fees to immigrants and migrant workers who remit money to family members living overseas.
WHEREAS, the international standards supported by the G8 and World Bank propose capping money transfer fees at 5%.
And WHEREAS, with modern technology the cost of moving money is minimal and bears no relation to the unreasonably high rates companies are charging Ontarians
WE THE UNDERSIGNED petition the Legislative Assembly of Ontario, as follows:
That the Legislative Assembly undertake legislative reform to make a cap of 5% on the fees and stop companies from slicing off huge portions of people’s hard earned money.