Working overtime has become a way of life for many households. Longer hours, longer workweeks, often it’s all part of the job, and keeping it. Of course, working overtime also pumps up the paycheck a little bit, so overtime pays off even it is sort of expected of you.
It’s a tradeoff, though. You give up part of your week, but you also get paid for it. Some work at a few hours of overtime on the job during the week and then again, some people don’t work any overtime.
So what are the actual percentages of how much overtime you have? Xoom wanted to find out. Xoom, a leader in the global money transfer business, conducted a survey of its Filipino American customers recently and asked how much overtime you work in a typical week.
The vast majority of those who responded in the survey, 55 percent, said they do not work any overtime at all in a typical week. Up to three hours a week of overtime was the second-highest percentage, 18 percent of those who responded. Fourteen percent said they worked from three to 10 hours of overtime in a usual week and 13 percent said they typically worked 10 hours or more of overtime a week.
It’s a hot-button topic, to be sure, but for money transfer powerhouse Xoom, the use of bitcoin just might be something that eventually comes into play. That’s what Xoom CEO John Kunze said in a revealing interview with PYMNTS.com’s CEO Karen Webster. You can check out the story for yourself, and also click on the accompanying audio link.
Everyone knows that Xoom occupies a pivotal position in the global money transfer business, but many may not know that the bitcoin currency opportunity could have a place in how money is moved.
Or not. There’s a long way to go, Kunze said in the interview.
“I think anyone that wants to move money from point A to point B has to deal with . . . very important challenges that, for bitcoin to succeed, players in the ecosystem must also solve in addition to still being efficient and not costly.”
Kunze mentioned self-regulation, consumer protection and regulation as challenges for bitcoin to become part of the money transfer business.
Xoom’s chief pointed out that typically $500 billion in money transfers crosses borders each year, and he also touched on Xoom’s groundbreaking mobile app that’s making a lot of headway.
“More than half of our users are sending with our mobile app, which was a great milestone that we hit,” Kunze said in the interview.
Traveling on a vacation or visiting back home may not be the best part of your year, but there’s a good chance it is. And getting back home to see friends and family and loved ones in the Philippines is at the top of the vacation list for many.
It cannot be easy to be away from those who are so close to you. And going back home to visit the Philippines may be a great opportunity to change that. Sometimes it’s costly and getting time off isn’t easy, either, but that started Xoom to thinking about traveling back home.
As it turns out, the majority of those who answered the survey said it’s been recently. A full 24 percent of the respondents said they have visited the Philippines this year and 22 percent said they had visited the Philippines most recently in 2013.
Fifteen percent of those in the survey said they last visited the Philippines in 2012; eight percent said their last visit was in 2011 and 19 percent said their most recent visit was before 2011. Some 11 percent said they have not visited the Philippines.
President Benigno S. Aquino III was sworn in four years ago with a significant mandate in his election. Son of legendary leaders in Filipino democracy, Benigno Aquino Jr. and Corazon Aquino, he probably has had enough time on the job for some opinions to be formed about his government’s handling of the economy of the Philippines.
Aquino’s government has pursued legislation reforms to build up investment opportunities and some reports reflect inflation at around 3.1 percent.
But Xoom, a global money transfer leader, wanted to know more. Xoom wanted to know how you feel, so Xoom conducted an exclusive survey of its Filipino-American customers recently and asked whether they thought President Aquino is doing a good job with the Philippine economy.
Aquino is doing a good job, according to 32 percent of the respondents in the survey. While 20 percent who took part in the survey said that Aquino is not doing a good job with the Philippine economy, the highest percentage of those who took the survey, 48 percent, said they had no opinion.
Friends, how do you count them? The number and quality of your friends is one of the biggest aspects of socialization. We like to know what our friends are up to and in return, they’re fond of keeping track of your activities as well, which is the sort of circle of friendship that we’re all searching for.
These days, one of the most popular ways to track friendship is with Facebook, the social media giant, where giving a ‘like’ is giving a thumbs-up to your friend. And who doesn’t enjoy writing (or seeing) a new status update?
Xoom, a leader in the global money transfer business, found the whole issue of Facebook compelling. So Xoom conducted an exclusive survey of its customers recently and asked about Facebook: How many Facebook friends to you have?
The most popular answer was one to 99 Facebook friends, which is what 30 percent of the respondents in the survey said. The next highest percentage, 24 percent, said they had somewhere between 100-299 Facebook friends. Some 14 percent in the survey answered they had anywhere from 300-499 Facebook friends, four percent who responded said they had from 500 to as many as 699 Facebook friends.
And 13 percent said they had 700 or more Facebook friends; while 15 percent answered that they were not on Facebook.
How do you correspond with others, especially family members far away? Keeping in touch and staying in touch with friends and family has changed a lot thanks to our digital and mobile devices. Texting has evolved into a major new way to stay in touch, especially with your loved ones back home in the Philippines.
News, sometimes important news, travels fast, and the need to know that news has probably never been greater.
That’s why texting has taken on such great importance. To find out just how important, global money transfer powerhouse Xoom conducted an exclusive survey of its customers recently. Xoom asked this question: How often to you text your loved ones back home in the Philippines?
The numbers were revealing. Texting daily was the answer from 35 percent of those in the survey. A full 19 percent of the respondents said they text their loved ones in the Philippines a few times a week. Texting a few times a month was the answer from 10 percent who took part in the survey; four percent said they texted once a week and two percent said they texted once a month. And 29 percent had some other answer.
Given the potential for security breaches and fraud in the world of financial transactions, it’s no surprise that the U.S. federal and state governments have instituted a robust set of rules and regulations governing the remittance industry and the service providers that operate in this sector.
While this might not be a major factor in your search for a money transfer company, it needs mentioning as some money transfer companies are more committed to consumer protection, compliance standards and customer service than others. While it may be difficult for you to evaluate these variables without quite a lot of digging, one source you can easily check is the Better Business Bureau (BBB) rating.
Check with the Better Business Bureau (BBB)
In school, your performance on tests and exams was assessed by issuing grades. If you received an A+, you felt proud and enjoyed a sense of accomplishment. The Better Business Bureau, likewise, assigns grades to companies based on a broad array of performance criteria, including:
- Length of time this business has been operating.
- Complaint volume filed with BBB for a business of this size.
- Response to complaint(s) filed against this business.
- Resolution of complaint(s) filed against this business.
So make sure to check that your prospective money transfer company is accredited with the BBB and, if it is, whether it has achieved the coveted A+ BBB Rating.
Affiliations & Certifications
While some companies view compliance as something they have to do and often wait until the last minute to get up to speed, if at all, a few forward-looking companies that are truly customer-focused lead the charge and even “push the envelope” to make sure that their customers are protected. From their perspective, this is simply good business and an effective way to gain their customers’ trust.
In the case of money transfer companies, in addition to their BBB Rating, you can also check their affiliations and certifications, which they should be proudly displaying on their websites. Are they a member of highly regarded anti-fraud associations such as the Merchant Risk Council and the Association of Anti-Money-Laundering Specialists (ACAMS)? Are their privacy practices certified by an independent monitor such as TRUSTe? Is their website certified with a Verisign SSL Certificate, so that you know your information can be transmitted securely over the Internet?
At Xoom, we are committed to securing your financial information and employ proven technology to protect and secure your personal information. Plus, we have the Privacy Certification with TRUSTe, an A+ Rating from the Better Business Bureau, and the Symantec SSL Certificate from Norton Secured.
Keeping up with what’s happening in the real estate market can be confusing and also a bit of a chore. The interest rates go down, the interest rates go up, or they look like they’re going up or going down. And meanwhile, your cash flow can sometimes be just as unpredictable.
Renters and homeowners each have their own sense of pluses and minuses, but for those who don’t own, it’s not easy to make such an important decision as whether or not to buy a house.
Sure, it’s one of the most personal choices you can make in your life, and much of that decision is based on finances, another very personal issue.
The results of the survey showed an overwhelming majority, 67 percent, answered no. Some 18 percent of the respondents in the survey said maybe they would buy a house while almost as many, 15 percent of those who answered the survey, said yes, they intended to buy a house in the next 12 months.