The US dollar has continued to appreciate in the last few years. The industry of business process outsourcing and the market for OFWs also continue to grow and increase. Thus, money changing business is a great venture.
Banks normally buy US dollars at a price lower than that in the grey market. Thus, US dollar earners look to money changers first.
To establish a money changing business, you must have a good, visible location. You also need to be registered with Securities and Exchange Commission (SEC) or with Department of Trade and Industry and of course Bangko Sentral ng Pilipinas.
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