Research Final

ASSESSMENT ON THE SERVICES OF MONEY REMITTANCE 1
CENTERS AS PERCEIVED BY MONEY REMITTANCE CUSTOMERS

LABAS SENIOR HIGH SCHOOL
AN ASSESSMENT ON THE SERVICES OF MONEY REMITTANCE

In Partial Fulfillment
of the Requirements in Practical Research 2
Submitted by:
Adorco, Joshua A.
Miranda, Ralph Christian
Norte, Christian Lou V.
Salvador, Philina Jean C.
Tolentino, Stephen C.
MS. MARGIE MONDERIN

Research Teacher
October 2018
Chapter I
THE PROBLEM AND ITS BACKGROUND
Background of the Study
Money has been a part of the human history sides along with banks
and financial institutions. As industrialization and globalization moved our
world, people witness a completely new form of money transfer. Wire
transfers became famous in the 19th century and it became the most
successful methods of money transferring. Today many money
remittance centers are being built around the world. Money Remittance
have a wide range of service for the convenience of their customers, also
it has many branches and variety of transactions all over the world
Money remittance center is responsible for giving services through

transferring someone’s money to another person even though they are
too far away from each other. If you’ve got a family abroad they always
think on how they are going to send money. Having friends carry money
home to their love ones become a less used practice, with most OFWs
preferring sending money through remittance channels instead.
There are two major ways of classifying remittances: domestic

remittances which is when funds were transferred from one location to
another within the same country. In most cases, it transfer funds from
an individual in a city to a recipient in the rural area or village. Meanwhile,
the other type of remittance, international remittance is transfer of funds
from country to country. Remittances are believed to reduce poverty, a
sit is the poor who migrate and send back remittances. But this view has
its critics. It is sometimes argued that remittances may increase
inequality because it is the rich who can migrate and send back
remittances, making recipients even richer.
Beyond transferring money, or depositing money into a loved one’s

account, there are several channels that people can use to send money
to loved ones. Everyone knows about Western Union’s services
worldwide, along with LBC’s capabilities as trusted names in financial
services and courier services, respectively. Other than these two, many
other establishments now take on financial services like remittances here
and abroad. Locally, many people use M Lhuillier, Cebuana Lhuillier, and
MoneyGram to wire money to friends and family like. Smart and Globe
have also entered the remittance arena through Smart Pera Padala and
GCash.
Furthermore, money remittance center has its own service

practices that all customer can afford and convenient at the same time
for example local money remittance like Western Union and Cebuana
remittance that shows good services that make their customer more
satisfied and allows them to build a relationship and loyalty to back again.
Other money remittance center also gives a lower interest and benefits
to their customers. This is one of their principle to gather more
customers.
There are some people who are not satisfied in money remittance
centers when it comes to their financial needs and practicing bad services
that totally make their customer give up and find another money
remittance center. Moreover, there are also some money remittance
centers that scam their customers by playing a good service to satisfy
their customer and then they will now bagged the money and find another
victim. According to finder, billions of dollars are transferred among

friends, family and businesses around the world through international
money transfers every day. Unfortunately, one in ten people have been
defrauded through online schemes designed to take as much of that
money as they can. Scammers are only becoming more sophisticated,
using increasingly elaborate schemes to trick you into revealing personal
and financial information. It show, that not all money remittance is
totally convenient and gives a good customer services rather it can affect
as a treat to their customer.
Money remittance center shows and gives good costumer services,
Satisfaction is when money remittance center meet the expectation of
their customer. But in the end of the day the customers only can decide
which money remittance center they prefer.
Certain federal protections apply if the customer transfer money

abroad. Under a federal law, many money transmitters, banks and credit
unions and possibly other types of financial services companies qualify as
remittance transfer provider. They must generally provide
consumers certain information before they make remittance transfers.
This includes information about: The exchange rate, Fees and taxes they
collect from you, Fees charged by the company’s agents abroad and
certain other institutions involved in the transfer process, the amount of
money expected to be delivered, not including foreign taxes or certain
fees charged to the recipient, if appropriate, a statement that additional
foreign taxes and fees may be deducted from the remittance transfer.
Costumers also must receive information about when the money will be
available, instructions on your right to cancel transfers, what to do in case
of an error, and how to submit a complaint.
After paying, the costumers will typically have 30 minutes (and

sometimes more) to cancel the transaction at no charge, unless the
transfer has already been picked up or deposited into the recipients
account.
Remittance providers now must also investigate complaints. If a

mistake was made, promptly contact the company. It generally has 90
days to investigate the matter and they must notify their costumer about
the investigations results. For certain types of error, such as if the money
never arrives, costumers may be able to get a refund or have the transfer
sent again.
Most of the time, people need money to live. They tend to get help
from their family, but the problem is they are far away. One of the
reasons that money remittance centers were build. Remittance is a sum
of money sent, especially by mail, in payment for goods or services or as
a gift. Along with savings and credit services, remittance services are
among the most important financial services for low-income people. Many
people who receive remittances live in rural areas that lack or have
limited access to financial services, including efficient and reliable
remittance services.
The researchers want to conduct a study about the customers
satisfaction on the services of money remittance centers. According to
Eric Jacques (2010) "Customer satisfaction is the act of just doing enough
to be acceptable to a customer. It is simply meeting basic expectations."
There are reasons why the researchers want to conduct the study.
These are: helpful to customers and employees, it certainly related to
business, the way the remittance centers give service to the customers
and their methods.
The researchers want to know more about the services of money
remittance centers if its reliable to everyone that satisfy the customers.
They also want to know the strategies that already been established to
make the customer trust them on their service and the number of
customers that use remittance centers for different reasons. It will be
helpful to the owners or employees of remittance centers for they will
know what they need to change and develop to gain more customers. It
will also be helpful to customers to make them think to use or not the
remittance centers. For those who wanted to have business this could be
helpful for then to decide if they would build a remittance center
especially to the places that the houses are far away from each other.
This study will analyze the money remittance’s service to their
customers and how they handle the problems that they may face as they
transfer money. Money remittance centers are not the same and they are
different in the ways of serving their customers. Some branches have
their own way on serving and transferring money to their customers.
The researchers are able to observe. the money remittance centers
on what is their level of service, they give to their customers. The
researchers wants To measure how the remittance center satisfy their
customers and to understand that if their strategies are very appropriate
and successful for their business.
Therefore, the researchers conduct this study to identify and asses
some strategies that the money remittance centers have done and the
services they give to customers.
Statement of the Problem

This study assesses the level of effectivity of the services of
money remittance centers on satisfying their customers.
This study aims to answer the following specific question:
1. What is the demographic profile of the respondents in terms of:
1.1. Age
1.2. Monthly income
2. What is the level of satisfaction of the customers on Money

Remittance Centers in terms of:
2.1. Services
2.2. Transaction
3. How effective are the services that Money Remittance Centers used
to serve their customers?
4. Is there a significant relationship between the profile of the respondents to

the level of satisfaction of the customers on Money Remittance Centers?
Theoretical framework
The study assesses the level of satisfaction of customers that is
based on the services offered by money remittance centers. this will be
determined by satisfying their customers which will lead to have a better
approach on the business marketing decision. The theoretical framework
that was adopted for the study was based on the Human Capital Theory.
The human capital theory highlights the socio- demographic aspect
of the individual as being a significant determinant in the decision-making
process (Bauer and Zimmerman, 1999). Customers with different
background and status will have a big contribution for a more better,
satisfying and appropriate strategies of money remittance centers. This

would increase the level of satisfaction money remittance centers would
get to their customers.
This theory is a microeconomic equivalent of the macroeconomic
model of individual choice. It puts forward that a migrant (a person who
goes from one place to another specially to find work) will estimate the
cost and benefits associated to the displacement, and will migrate if the
net return is positive and his destination will be where the expected
discounted net returns are greatest over sometime horizon (Borjas,
1990). The cost associated also include psychological cost such as
separation from family in addition to monetary cost. Individual
characteristics such as age, marital status, preferences, education,
experience, training skills, language skills increases the probability of
migration as these would increase the likelihood of renumeration and
being employed in the host country.
Human Capital theory
Managerial Human
Capital
Performance Interactive Behaviors

Enhancement Strategies
Subordinate
Performance
Leadership Perception
Figure A.
The Theoretical Framework of the Study
Conceptual Framework
Input Process Output
Demographic profile of the

respondents in terms of:
1. Age
1. Related
2. Gender Literature
3. Economic status Studies The effectivity level
4. Monthly income 2. Survey of the services of
questionnaire money remittance
The level of satisfaction of the
customers on money centers on satisfying
3. Analysis of
remittance centers in terms of: their customer
5. Service data
6. Pricing
Marketing strategies
FEEDBACK
Figure B.
The Conceptual Framework of the Study
The flow of the study is illustrated using the input-process-output

(IPO) model. This research paradigm wherein the relationship of the
variables was clarified and serve as guide in conducting the study. The
figure 1 show, how the variables are related to each other.
As shown in the figure 1, the input box contains the relevant
information such as the profile of the respondents in terms of age,
gender, economic status, and monthly income. It also includes the
services offered by money remittance centers, such as security, pricing,
transactions, many more. Also the effects of strategies that they used in
serving their customers. The process box represents the data gathering
with survey questionnaire. And the output box was the output which
contains the effectivity level of services of money remittance centers.
Significance of the Study

This research is beneficial to the following: money remittance
center, customers, researchers, and future researchers.
To the money remittance center; The research can help them
to realize their level of services and provide them information that they
may utilize to manage their services. This may help them to understand
the importance and benefits of assessing good services of money
remittance. Remittance centers can make more better strategies that can
satisfy their customers.
To the customers; The result of the study will provide them
insights on understanding if the services of money remittance center
makes them satisfied and if it is convenient. This study may help them
to understand the importance of satisfaction when it comes to money
remittance. The customers will be more knowledgeable on the process of
money remittance centers.
To the researchers; This paper is a useful tool to make them
better understand the importance of assessing good services of money
remittance center to the customers. This would be helpful for them that
they can apply the learnings of this research to improve their skills as an
individual. Thus, through this research they can share their learning to
others.
To the future researchers; This study will serve as an additional

reference in their study or they can even enhance this study, if time
comes that the information stated here becomes absolute.
Scope and Delimitation

The coverage of this study is about the assessment of the services
of money remittance centers as perceived by the money remittance
customers. The objective of this study is to identify the effectivity level
of the services of money remittance centers on satisfying their
customers. The researchers conduct this study during the whole first
semester of the school year 2018-2019.
Money remittance centers like Palawan express Pera Padala,
Cebuana Lhuillier, Smart Pera Padala, LBC, and many other remittance
centers in the city of Santa Rosa Laguna, this is the location where the
research study was conducted. The chosen respondents are the
customers of money remittance including their Age ranging to 18 and
above and Monthly income, that would help the researchers to determine
their objective.
This study focuses only on the assessment of services of money
remittance centers. The only respondents are the money remittance
centers customers in Santa Rosa Laguna.
Definition of Terms
The following terms are used in the study and are defined
operationally.
Customers. They are participants of the study who send money through
money remittance centers.
Customer Satisfaction. The level of satisfaction of customers towards
marketing strategies of money remittance service. This is what the
researchers want to know in this study.
Money. his is the medium that is being transferred to different branches
across the country or world.
Money Transfer. This is an act of transferring money to another
branches. This is the service of money remittance centers to their
customers.
Pricing. This is an action on how money remittance centers or other
businesses price their service or goods.
Service. This is an action on how money remittance centers do to provide
satisfaction to the customers.
Remittance. This is the process of sending money as payment.
Transaction. This is a deal between the money remittance center and
its customer.
CHAPTER II
REVIEW OF RELATED LITERATURE AND STUDIES
The aim of this chapter is to present literature and studies relevant

to this research. related literature and studies are gathered to give
support and ideas necessary to the study. This review of related studies
will give guidance and references in providing such informative
knowledge that will also provide deep insight of the study.
Related Studies
Based on the study of Anderson (2010) in his thesis entitled
“Customer Satisfaction Across Organizational Units”, he stated that the
customer satisfaction and retention that are bought through price,
promotions, rebates, switching, barriers, and other such means are
unlikely to have the same long-run impact on profitability as when such
behaviors and attitude are won through superior products and services.
Thus, squeezing additional reliability out of a manufacturing or service
delivery process may not increase perceived quality and customer
satisfaction as much tailoring goods and services to meet needs.
Remittances has, since the 1980s, focused on the role of
information and social interaction in explaining transfer behavior
(Rapoport and Docquuier, 2008). It served as a bridge between
individuals who are separated by great distance. Helping the customers
to close the gap between the customers located to different places.
Seeing remittance sending as composite transaction has affinities
with Page and Mercer’s (2012) notion of remitting as a “practice” the act
of remitting, they contend, is a routinized form of behavior that combines
an array of interconnected elements including bodily and mental
activities, the use of things, states of emotion, and motivational

knowledge.
When remittance transaction takes the form of compensation for
services, it is pertinent to examine the exchange with reference to theory
about work. As Landolt and Da (2009) observed, transactional families
depend on the caregiving work performed by non-migrant members in
the country of origin.
Remittance can constitute repayment of loans through implicit
contracts. The implicit nature means that there is no point at which the
debt is settled; repayment could be important as a process, rather than
by an accumulated amount repaid. The repayment script is illustrating
not only by history of past transaction, but also by the expressed sense
of indebtedness on the part of migrants (Olwig, 2008; Lindley, 2010).
Transfer is typically initiated by a request from the prospective
recipient, who presents the need to the sender. Such appeals for help,
often in the form of phone call, can key drivers of remittances, as
reflected in the title of Anna Lindley’s (2010). Based on the services of
money remittance, it shows that it also advances with the advancement
of the technology use in business transaction. It showcases that the
money remittances can guarantee a fast transaction with their
customers.
Carling (2008), among others, has questioned the usefulness of
conventional and technical definitions of remittances, arguing that
remittances’ senders are not always migrants. Even though that the
money remittance centers shows great service, however the customers
near money remittance centers are not always using their service due to
their jobs, family backgrounds and the age of the individuals.
For instance, a World Bank (Mohapatra et al.,2011) study found

that remittances received in Kenya from within Africa were primarily used
for the constructions of houses, while inflows coming from outside.
Through remittance, it can help people from different places that
experience poverty due to lack of resources of that country.
Ratha (2013) argues that remittances could play a key role as a
‘powerful anti-poverty force’ because they tend to increase the incomes
of households in the developing word. A recent study on Moldova (Stratan
et al., 2013) found that remittances contribute to reducing the severity
of poverty, as migrants relative directly receives remittances. It explains
that people working abroad can help their family living on their hometown
by working and receiving foreign money. For example, one Filipino OFW
worker sends hundreds of dollars to his family through money remittance
and that family receive money that is converted in to thousands of peso.
Despite the growing vulnerability of migrants, remittances have
remained stable during and after the global economic downturn. Indeed,
they continue to be a significant source of income for families and play a
crucial role of co-insurance or risk mitigation in times of hardship
(Ratha,2013).
According to Boshoff and Gray (2009) cumulative satisfaction refers
to the customers and overall evaluation of the consumption experience
to date because customer satisfaction is highly variable assessment
individuals do base on their experience with specific features of products
and services they receive. It makes sense for servicing organization to
involve customer satisfaction measurements as their meaningful
benchmark for development.
Based on the research study of Oliver (2008) about the customer

satisfaction, he noted that everyone knows that satisfaction is until asked
to give a definition. It means that customer with different backgrounds
have different wants and needs from other customers. He also said that
satisfaction is the customers fulfillment response. It is a judgement, a
product or service feature, or the product or service itself, service provide
a pleasurable level of consumption related fulfillment.
According to Hirpo (2008), the customer satisfaction was achieved
by a company’s overall performance. The performances dimension could
be distinct as product quality, service quality, reputation quality,
relationship quality, and price elements.
It means that the customers are happy with the products and
service provided by a business. Customer satisfaction levels are
measured by survey questionnaires. Gaining high level of customer
satisfaction is important for it satisfied the customers and they are loyal
to a business.
According to Tran et al. (2010), it is likely that customer satisfaction
in one of the most persuasive objective of any business and whether the
organization is efficient or not depends very much on whether output of
the organization satisfied customer. Although customer satisfaction is a
somewhat vague factor to be measured because it relates to attitude of
customers, many students have made great efforts to quantify its value.
The result of the estimate for financial services discovered that there
existed a positive relationship between customer satisfaction and market
value of financial services.
Puja & Yukti (2008) have analyzed customer satisfaction in public

and private sector banks and revealed banking sector has witnessed
heightened competition with so many banks coming up will all their
potential and using their global strength to their advantage to establish
themselves in the market. Private Banks seem to have satisfied its
customers with good services and they have been successful in retaining
its customers by providing better facilities than public sector banks. In an
economy of innovative technologies and changing markets, each service
quality variable has become important. New financial products and
services must be continuously introduced to stay competent. Success
could be customer centric orientation, where the organization builds long
term strategic relationship to its customers. And Private sector banks
have been successful in achieving such relationship to its. Customers.
According to Thomas (2010) in his article, customer satisfaction in
seven steps, that it is well fact that no business can exist without
customer known that in the business of web design. It is important to
work closely with customers to make sure the site or system might create
from them as close to their requirements can manage because its critical
for them to form a close working relationship with the client, customer
service is of vital important.
Based on the thesis study of Ledesma (2009) entitled “Effect of
assuring customer satisfaction” customer satisfaction is a means toward
customer retention. It resulted from the customers positive experiences
with the products or service purchased and from the quantity of
encounters that the customer gets from the supplier. It evolves the
precondition of close business relationship where the customer
demonstrates trust, commitments and loyalty to the supplier, and as
customer satisfaction remains an exclusive milestone to many food

industries.
Kumbhar V. M. (2011) attempted to examine a contribution of
various dimensions of service quality in customer satisfaction. A result of
the study indicated that, all 13 variables will find significant and were
good predictors of overall satisfaction in E-banking. However, a result of
principle component analysis indicates that, perceive value, brand
perception, cost effectiveness, easy to use, convenience, problem
handling, security/ assurance and responsiveness are important factors
in customer satisfaction in E-banking it explains 48.30% of variance.
Contact facilities, system availability, fulfillment, efficiency, and
compensation are comparatively less important because these
dimensions explain 21.70% of variance in customer satisfaction.
Therefore banker and E-banking service designers should think over
these dimensions and make possible changes in the E-banking services
according to the customer’s expectations and need of the time.
According to Burstein (2017), mentioned that younger customer
may simple have grown up in the age of transparency and come to
naturally expect transparent marketing and a customer-first business
approach.
Based on the research study of Oliver (2008) about the customer
a pleasurable level of consumption related fulfillment. Every customers
have different insights on how are they going to be satisfied by such

services.
According to Parasuraman et al. (2010) mentioned that, there is a
strong relationship between the transaction and customer satisfaction.
customers.
According to Boshoff and Gray (2009) cumulative satisfaction refers
to the customers and overall evaluation of the consumption experience
to date because customer satisfaction is highly variable assessment
According to Richard, E.(2008), material aspirations are initially
fairly similar among income groups; consequently more income brings
greater happiness. Over the life cycle, however, aspirations grow along
with income, and undercut the favorable effect of income growth on
happiness, income difference persists. People think they were less happy
in the past and will be happier in the future, because they project current
aspirations to be the same throughout the life cycle, while income grows.
But since aspirations actually grow along with income, experience
happiness is systematically different from projected happiness.

Consequently, choices turn out to be based on false expectations.
Dr. Kumar and Dr. Gangal (2011) held a study on CUSTOMER
SATISFACTION IN NEW GENERATION BANKS ( A CASE STUDY OF HDFC
BANK) and found that the majority of India’s banks are not very diversify
in terms of the products and services they offer. One strategic focus that
banks can implement to remain competitive would be retain as many
customers as possible. Thus, customer’s satisfaction is the key of success
in today’s competitive area.
Dimi Triades (2014), emphasized that one should not forget that a
customer maybe satisfied but may not be loyal. That is why marketing
and customer satisfaction play an important role in loyalty.
Synthesis
The review literature in this part of the undertaking were
considered related to the present study. This part showed different
understanding on customer satisfaction and on how it is very important
to other kinds of businesses. It also includes studies related to money
remittance and quality service.
Customers who buy manufactured products or service delivery has
a low chance of being satisfied. Thus, by adding reliability to their
products may not perceived quality and customer satisfaction as much
tailoring goods and services to meet the needs. According to Boshoff and
Gray’s study is that the satisfaction of the customers is based on the
overall evaluation of the consumption experience to date. Individuals
base their experience the specific feature the good or service provide so
that the customers will know if they will be satisfied.
The customers’ satisfaction is based on the company’s overall

performance. The customers will evaluate the their distinct performance
so that they can tell that their customers will be satisfied or not on how
they will provide service to them this based on the study of Hirpo
According to a journal article, The Effect of income on General Life
Satisfaction and Dissatisfaction (2009) by Stefan Boes and Rainer
Winkelmann that using the data from the German Socio-Economic Panel
1984 – 2004, and a flexible multiple-index ordered probit panel data
model with varying thresholds, they find that income has only a minor
effect on high satisfaction but significantly reduces dissatisfaction.
According to Puja Khatri and Yukti Ahuja’s study, success could be
customer centric orientation, where the organization builds long term
strategic relationship to its customer and private sector banks have been
successful in achieving such relationship to its customers. Having a good
relationship to the customers would increase the satisfaction they could
receive due to the fact that by building good relationship to them means
that businessmen would know best about their customers.Based on the
thesis of Ledesma, the customers will surely be satisfied if one company
or business value their customers well. Providing the customers with good
quality of product will surely give them a good experience. Because the
customer’s satisfaction will be based on the customer’s experience to the
service or product that the company or business provide.
Remittances focused on the role of information and social
interaction in explaining transfer behavior since the 1980’s. It is a
routinized form of behavior that combines the array of interconnected
elements including bodily and mental activities, the use of things, states
the emotion and motivational knowledge. Remittance have been

remained stable during and after global economic downturn. They
continue to be a significant source of income for families. Ratha argues
that remittance could play a key role as ‘powerful anti-poverty’ because
they tend to increase the incomes of every household.
These literatures are related to this study by means of contributing
information that is connected about customer satisfaction, and money
remittance. Even though they have different understanding about
customer satisfaction, they have one in common. That customer
satisfaction is based on experience of the customers, so that businesses
must focus on how they provide good service or product to their
customers.
Chapter III
RESEARCH METHODOLOGY
This chapter presents the research design, population and
respondents of the study, sampling design, research instrument, Data
gathering procedure and data analysis that are appropriate to the study.
Research Design
This study is about the assessment of services of Money Remittance
Centers perceived by Money Remittance Center Customers. In order to
gather a necessary data needed for the analysis, the researchers used
the descriptive method. This design was known to be valid method for
researching specific subjects as a precursor to more quantitative studies
The researchers decided to use descriptive method in the study for
it was suitable approach to assess the services of money remittance
centers to their customers. through this method researchers believed that
they could describe the data gathered based on the nature of facts.
Population and Respondents of the Study
The researchers, target respondents are the customers of money
remittance centers in Sta. Rosa City, Laguna. Respondents that are 18
{and regulations like, minors cannot transfer money if they don’t have
any legal ID. The researchers will include age and their monthly income.
The researchers targeted a total of 70 customers from different money
remittance centers.
Sampling Technique
Availability sampling is used quite frequently. It involves selecting
a sample from the population because it is accessible. That is to say,
individuals are selected for the research not because they meet some
statistical criterion, but because they are readily available. The
researchers use this sampling technique to avoid biased representation

of the group and it will give accurate representation of the larger group.
Research Instrument
The researchers used a self-constructed questionnaire as main data
gathering instrument. The questionnaire was validated by the
researcher’s adviser, panelist and statistician.
The self-constructed questionnaire was composed of two parts. The
first part contained the demographic profile of the respondents in terms
of age, gender, economic status and monthly income. The second part
was composed of the items that determined the service strategy and level
of service satisfaction of the customers from the money remittance
centers.
Respectively in this part of the questionnaire, the respondents will
be asked to rate each item in the researcher’s questionnaire on a Likert
4-point rating scale to measure the degree of agreement or disagreement
of the respondent
5- Strongly agree 4- Agree 3 – Moderately agree

2- Disagree 1- Strongly disagree
To interpret the weighted mean and composite mean of the

assessment of the service of money remittance centers in the level of
satisfaction of customers in terms of service and transaction, the
following numerical values and their corresponding verbal interpretations
were used.
Service
Numerical Rating Mean Ranges Verbal
Value Interpretation
5 4.27 – 4.39 Highly satisfied
4 4.14 – 4.26 Very satisfied
3 4.02 – 4.13 Satisfied
2 3.89 – 4.01 Not satisfied
1 3.77 – 3.88 Not highly satisfied
Transaction
5 4.51 – 4.70 Highly satisfied
4 4.31 – 4.50 Very satisfied
3 4.12 – 4.30 Satisfied
2 3.92 – 4.11 Not satisfied
1 3.73 – 3.91 Not highly satisfied

Effectiveness of service
5 4.09 – 4.39 Highly effective
4 3.78 – 4.08 Very effective
3 3.48 – 3.77 Effective
2 3.37 – 3.47 Not effective
1 2.87 – 3.16 Not highly effective
Data Gathering Procedure

The researchers followed a series of steps and procedure in
gathering the data to conduct this study. They create a validation letter
for the approval of their research adviser to enter other school’s library
(PUP). They visited library from Polytechnic university of the Philippines
and Santa Rosa bayan library to gather some information. They gathered
information from reading materials such as theses, and internet as a
source of information. The researchers also constructed the needed
questionnaire
The researchers will utilize the survey questionnaire in the data
gathering process. The questionnaire will be distributed personally to the
selected respondents. They will be guided by the researchers as they
answer the questions. This is to ensure that they will understand the
questions clearly.
The researchers have gathered data after the questionnaire is
answered .those data have been analyzed and presented using tables and
graphs.
Statistical Treatment
The researchers utilized the following statistical tools to analyze
and interpret data to provide answers to the specific problems of the
study.
Frequency and Percentage
This will be used to determine the demographic profile of the

respondents in terms of age and monthly income.
𝐹
P= x 100
𝑁
Where;
P- percentage
F – frequency of response
N – number of respondents
100 – the constant in finding percent
Chi square test for independence
Chi square was used in the study to determine whether an
association exists between two variables(the profile of the respondents
and the level of satisfaction of customers on service of money remittance
centers.)
Where:
Subscript “C” = degrees of freedom
∑ = 𝑠𝑢𝑚
O = observe value
E = 𝑒𝑥𝑝𝑒𝑐𝑡𝑒𝑑 𝑣𝑎𝑙𝑢𝑒
Weighted Mean
Formula:
The image above is the technical formula for the weighted mean. In
simple terms, the formula can be written as:
Weighted mean = Σwx/Σw
Σ = the summation
w = the weights.
x = the value.
Chapter IV
PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA
The data gathered through different research instrument are
presented and discussed thoroughly in this chapter. Those data gathered
are analyzed and interpret with tables.
1. Demographic Profile of the Respondents
This portion of the study deals with demographic profile of the

respondents in terms of age and monthly income. The tables are
presented below.
Age
Table 1.1 shows the frequency distribution of the respondents
according to age. The respondents age is group into three brackets with
corresponding description of each. It was comprised of 18-22 years old,
23-27 years old, 28-32 years old, 33 above. which is described as
generation y or the millennials
Table 1
Demographic profile of the respondents in terms of age
Age Frequency Percentage
18-22 29 41.43%
23-27 15 21.43%
28-32 13 18.57%
33 above 13 18.57%
Total 70 100%
As shown in the table above, it can be observed that majority of

the respondents belong to the age bracket of 18-22 years old which
garnered a frequency of 29 and 41.43 percentage. It was followed by the
age bracket of 23-27 years old with the frequency of 15 and 21.43
percentage. Lastly the age bracket of 28-32 and 33 years old above with
the frequency of 13 and 18.57 percentage. According to Burstein (2017),
mentioned that younger customer may simple have grown up in the age
of transparency and come to naturally expect transparent marketing and
a customer-first business approach.
Monthly Income
Table 1.2 shows the frequency distribution of the respondents
according to their monthly income.
Table 2
The Demographic profile according to monthly income
Monthly
Frequency Percentage
Income
2,000-4,000 19 27.14
5,000-9,000 25 35.71
10,000 above 26 37.15
Total 70 100
The table above shows that the majority of the respondents according to
their monthly income ranges from 10,000 pesos and above with the
frequency of 26 and 37.15 percentage. Followed by the respondents
receiving 5,000 to 9,000 pesos as their monthly income with the
frequency of 25 and 35.71 percentage. Lastly, respondents receiving at

least 2,000 to 4,000 pesos has a frequency of 19 and 27.14 percentage.
According to a journal article, The Effect of income on General Life
Satisfaction and Dissatisfaction (2009) by Stefan Boes and Rainer
Winkelmann that using the data from the German Socio-Economic Panel
1984 – 2004, and a flexible multiple-index ordered probit panel data
model with varying thresholds, they find that income has only a minor
effect on high satisfaction but significantly reduces dissatisfaction.
2. The level of Satisfaction of the Customers on Money Remittance
Centers
Service
This is one of the factors used by the researchers in assessing the
level of satisfaction of respondents. Table 2.1 present the assessment on
the service of money remittance centers in terms of their service quality.
Table 3
Level of Satisfaction of the Customers on Money Remittance
Centers in terms of Service
Service Weighted Interpretation

mean
1. Remittance centers are Satisfied
4.07
customer-oriented.
2. Conciseness of pricing Not highly

3.83
list. satisfied
3. The employees are polite Not satisfied
3.94
to customers.
4. The processing of money Satisfied

4.05
transfer is very quick
5. Clear information about Satisfied
4.09
money remittance.
6. Customers and their Highly satisfied
4.31
money are secured.
7. The security guard can
give information or Satisfied
4.09
instruction to the
customers.
8. Remittance centers are
secured by CCTV 4.49 Highly satisfied
cameras.
9. There are enough chairs Not highly

3.77
for the customers. satisfied
10.The remittance center Not highly
3.86
are well-ventilated. satisfied
Composite mean 4.05 Satisfied
Based on the table presented, the assessment of the respondents

shows that the most of the customers are satisfied with the service of
money remittance centers. The result found that customers are highly
satisfied in the security of the customers and money through the used of
CCTV. Based on the research study of Oliver (2008) about the customer

a pleasurable level of consumption related fulfillment. Every customers
have different insights on how are they going to be satisfied by such
services.
transaction
level of satisfaction of respondents. Table 2.1 present the assessment on
the service of money remittance centers in terms of their transaction
processing system.
Table 4
Level of Satisfaction of the Customers on Money Remittance
Centers in terms of transaction
Weighted Interpretation
Transaction
mean
1.Product received by the
4.70 Highly satisfied
customers are not damage.
2. Additional payment are
3.73 Not highly
affordable. satisfied
3.The customer can also pick
up their money or thing/s in 3.93 Not satisfied
other remittance center.

4. Remittance centers sets
price relation to its 3.90 Not satisfied
competitors.
5.The customer can get their

money or thing/s on the 4.16 Satisfied
promise date.
6.Gives discount price for
4.06 Not satisfied
senior citizens.
7.There is no delay in Not satisfied
3.99
transaction.
8.The price compliments on
the service offered by money 3.99 Not satisfied
remittance centers.
9There are numbers given to
Not satisfied
the customer to have an 3.94
organize transaction.
10.Money remittance centers
Not highly
give low cost to their 3.90
satisfied
customers.
Composite mean 4.03 Not Satisfied
Based on the table presented above, the researchers found. The
assessment of the respondents shows that majority of the respondents
are not satisfied by the transaction processing system of money
remittance centers. They are only satisfied through on the statement
that says that the product receive by the customers are not damage, and
The customer can get their money or thing/s on the promise date.
According to Parasuraman et al. (2010) mentioned that, there is a strong
relationship between the transaction and customer satisfaction.

customers.
4. Effectivity of the services of Money Remittance Centers.
Effectiveness of Service
effectiveness of the service that the customer perceived on the money
remittance centers.
Table 5
Effectiveness of service to the Customers on
Money Remittance Centers
Weighted
Effectiveness of Services Interpretation
mean
1.The advertisements of
money remittance centers
4.39 Highly effective
make the customers secured
by transferring their money.
2.They Introduce some new
services or promote to their 4.14 Highly effective
customers.
3.They improve customer

loyalty.
4.They provide exciting
customer exclusive offers.
5.They make everything
simple to easily understand 4.03 Highly effective
by their customers.
6.The money remittance
centers ensure that they
2.87 Not highly
provide remittance clear effective
instructions.
7.There are flyers and
tarpaulin made by intended 4.11 Highly effective
important information.
8.the employees are skilled Very effective
4.03
and fast in doing their job.
9.The customer benefits the
most on the applied business 4.09 Highly effective
services.
10.The applied business
services aids the money
remittance centers to
advertise the business.
Composite mean 4.02 Very Effective
Based on the table presented above shows that the assessment of

the respondents on the service of money remittance centers, majority
found very effective customer service. According to Boshoff and Gray

(2009) cumulative satisfaction refers to the customers and overall
evaluation of the consumption experience to date because customer
satisfaction is highly variable assessment individuals do base on their
experience with specific features of products and services they receive.
It makes sense for servicing organization to involve customer satisfaction
measurements as their meaningful benchmark for development.
Table 4 Chi square

Age Computed p- Decision Interpretation
Value value
Service Transaction
18-22 36.76 35.87 41.34 Failed Significant

Reject 𝐻𝑜
23-27 45.89 52.86 23.685 Reject 𝐻𝑜 Significant
28-32 47.48 36.60 21.026 Reject 𝐻𝑜 Significant
33 28.97 53.14 21.026 Reject 𝐻𝑜 Significant

above
The table above shows that there is significant relationship between

the age of the respondents to the level of satisfaction of money
remittance centers in terms of service and transaction. According to
Richard, E.(2008), material aspirations are initially fairly similar among
income groups; consequently more income brings greater happiness.
Over the life cycle, however, aspirations grow along with income, and
undercut the favorable effect of income growth on happiness, income

difference persists. People think they were less happy in the past and will
be happier in the future, because they project current aspirations to be
the same throughout the life cycle, while income grows. But since
aspirations actually grow along with income, experience happiness is
systematically different from projected happiness. Consequently, choices
turn out to be based on false expectations.
Monthl Computed p- Decisio Interpretati

y Value valu n on
Incom Servic Transacti e
e e on
2,000- 26.9715 44.9838 57.7 Reject 𝐻𝑜 Significant
5,000 4
6,000- 44.4221 39.5605 72.8 Reject 𝐻𝑜 Significant
9,000 4
10,000 49.2486 45.7413 85.1 Reject 𝐻𝑜 Significant
above 1
Based on the table shown above that there is a significant

relationship between the monthly income of the customers and the level
of satisfaction of the customers. According to a journal article, The Effect
of income on General Life Satisfaction and Dissatisfaction (2009) by
Stefan Boes and Rainer Winkelmann that using the data from the German
Socio-Economic Panel 1984 – 2004, and a flexible multiple-index ordered
probit panel data model with varying thresholds, they find that income
has only a minor effect on high satisfaction but significantly reduces
dissatisfaction
CHAPTER V
SUMMARY,FINDINGS,CONCLUSIONS AND RECOMMENDATIONS
This chapter contains the answer to the statement of the problem,

the respondents of the study, and the results of the findings using the
data gathered in chapter IV. it also presents the conclusion and
recommendation of the study.
SUMMARY
This research work aimed to find out the assessment on the service
of money remittance centers perceived by its customer. Using 70
respondents, the researchers took into considerations the profile of the
respondents which include their age and monthly Income.
After obtaining the respondents’ profile, the researcher analyzed
the assessment on the service of money remittance centers. They used
the two classification like service quality and transaction. The study
considered the significant relationship existed on the service of money
remittance centers of the respondents with respect to their profile.
Furthermore, the study includes literatures which supported the content
of the papers. The different variables in this study were carefully
expounded and explained in the literatures gathered by the researchers.
Descriptive method of research was used to determine the level of
satisfaction on the service of money remittance centers.
To support the study , the researchers used descriptive method of
research with the self-made questionnaire as instrument to gather
primary data. The data collected from the respondents are tallied,
analyzed and interpreted. The researchers use frequency and percentage
to determine the distribution of respondents according to their profile,
and weighted mean for the assessment of the respondents level of
satisfaction on service of money remittance center through service and

transaction. Chi square test is used to test relationship between the
respondents’ profile and their assessment on the level of satisfaction of
money remittance centers customer.
Findings
The following findings were achieved by the researchers after
their careful analysis and interpretation of data.
1. What is the demographic profile of the respondents in terms of:
Age
Out of 70 respondents, majority of the customers who uses
remittance centers are belonged to the age bracket of 18- 22 years old
which garnered a frequency of 29 and 41.43 percentage which is
described as generation y or the millennials.
Monthly income
the majority of the respondent’s monthly income ranges from
10,000 pesos and above with the frequency of 26 and 37.15 percentage.
Followed by the respondents receiving 5,000 to 9,000 pesos as their
monthly income with the frequency of 25 and 35.71 percentage. Lastly,
respondents receiving at least 2,000 to 4,000 pesos has a frequency of
19 and 27.14 percentage.
2. What is the level of satisfaction of the customers on Money

Remittance Centers in terms of:
Service
, the assessment of the respondents shows that the most of the
customers are satisfied with the service of money remittance centers.
The result found that customers are highly satisfied in the security of the
customers and money through the used of CCTV. Based on the research
study of Oliver (2008) about the customer satisfaction, he noted that
everyone knows that satisfaction is until asked to give a definition. It
means that customer with different backgrounds have different wants
and needs from other customers. He also said that satisfaction is the
customers fulfillment response. It is a judgement, a product or service
feature, or the product or service itself, service provide a pleasurable
level of consumption related fulfillment. Every customers have different
insights on how are they going to be satisfied by such services.
Transaction
The assessment of the respondents shows that majority of the
respondents are not satisfied by the transaction processing system of
money remittance centers. They are only satisfied through on the
statement that says that the product receive by the customers are not
damage, and The customer can get their money or thing/s on the promise
date. According to Parasuraman et al. (2010) mentioned that, there is a
strong relationship between the transaction and customer satisfaction.
Transfer is typically initiated by a request from the prospective recipient,
who presents the need to the sender. Such appeals for help, often in the
form of phone call, can key drivers of remittances, as reflected in the title
of Anna Lindley’s (2010). Based on the services of money remittance, it
shows that it also advances with the advancement of the technology use
in business transaction. It showcases that the money remittances can
guarantee a fast transaction with their customers.
3. How effective are the services that Money Remittance Centers used
to serve their customers?
the assessment of the respondents on the service of money
remittance centers, majority found very effective customer service.
According to Boshoff and Gray (2009) cumulative satisfaction refers to
the customers and overall evaluation of the consumption experience to
date because customer satisfaction is highly variable assessment
5. Is there a significant relationship between the profile of the respondents to

the level of satisfaction of the customers on Money Remittance Centers?
Age
there is significant relationship between the age of the respondents to the
level of satisfaction of money remittance centers in terms of service and
transaction. According to Richard, E.(2008), material aspirations are initially
fairly similar among income groups; consequently more income brings
greater happiness. Over the life cycle, however, aspirations grow along with
income, and undercut the favorable effect of income growth on happiness,
income difference persists. People think they were less happy in the past and
will be happier in the future, because they project current aspirations to be
the same throughout the life cycle, while income grows. But since aspirations
actually grow along with income, experience happiness is systematically
different from projected happiness. Consequently, choices turn out to be
based on false expectations.
Monthly Income
there is a significant relationship between the monthly income of
the customers and the level of satisfaction of the customers. According
to a journal article, The Effect of income on General Life Satisfaction and
Dissatisfaction (2009) by Stefan Boes and Rainer Winkelmann that using
the data from the German Socio-Economic Panel 1984 – 2004, and a
flexible multiple-index ordered probit panel data model with varying
thresholds, they find that income has only a minor effect on high
satisfaction but significantly reduces dissatisfaction
Conclusion
Based on findings the following appeared to be necessary:
1. Majority of the respondents of the study are belonged to the age bracket
of 18-22 yrs. Old or millennials.
2. Majority of the respondents of the study are belonged to the monthly
income bracket of having 10,000 pesos of income and above.
3. The level of satisfaction in terms of service are found satisfied in service
quality.
4. The level of satisfaction in terms of transaction are not satisfied on
transaction processing system.
5. The effectiveness of service of money remittance centers are found very
effective.
6. The researchers found that there is significant relationship between the
age profile of the respondents and level of satisfaction of customers on
the service of money remittance centers.
7. The researchers found that there is significant relationship between the
monthly income of the respondents and level of satisfaction of customers
on the service of money remittance centers.
Recommendations
In the light of foregoing findings and conclusion, the following
recommendation are stated:
1. The researchers encourage the customers to use money remittance
centers. Since they influence other people and the study concluded
that customer are satisfied to the service and transaction of money
remittance center.
2. The employees of money remittance centers are encourage to analyze
their customers to give them a better service. Due to the fact the their
customers are different in terms of age, like, dislikes and to their
monthly income.
3. The employees of money remittance centers are encourage to improve
their way of service to have a better feedback from their customers.
4. The researchers encourages the money remittance centers to improve
their ways of transacting the money of their customers to have a much
more better feedbacks from their customers.
5. The researchers encourages the money remittance centers to make a
suitable promos for their customers to make their level of satisfaction
increase.
6. Future researchers may conduct further studies that investigate the
level of satisfaction of the customers towards the services offered by
the money remittance centers.

Research Final

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ASSESSMENT ON THE SERVICES OF MONEY REMITTANCE 1

CENTERS AS PERCEIVED BY MONEY REMITTANCE CUSTOMERS

AN ASSESSMENT ON THE SERVICES OF MONEY REMITTANCE

MS. MARGIE MONDERIN

Money remittance center is responsible for giving services through

There are two major ways of classifying remittances: domestic

Beyond transferring money, or depositing money into a loved one’s

Furthermore, money remittance center has its own service

victim. According to finder, billions of dollars are transferred among

Certain federal protections apply if the customer transfer money

After paying, the costumers will typically have 30 minutes (and

Remittance providers now must also investigate complaints. If a

Statement of the Problem

1.2. Monthly income

2. What is the level of satisfaction of the customers on Money

4. Is there a significant relationship between the profile of the respondents to

satisfying and appropriate strategies of money remittance centers. This

Performance Interactive Behaviors

Input Process Output

Demographic profile of the

The Conceptual Framework of the Study

The flow of the study is illustrated using the input-process-output

Significance of the Study

To the future researchers; This study will serve as an additional

Scope and Delimitation

The aim of this chapter is to present literature and studies relevant

activities, the use of things, states of emotion, and motivational

For instance, a World Bank (Mohapatra et al.,2011) study found

Based on the research study of Oliver (2008) about the customer

Puja & Yukti (2008) have analyzed customer satisfaction in public

customer satisfaction remains an exclusive milestone to many food

have different insights on how are they going to be satisfied by such

happiness is systematically different from projected happiness.

The customers’ satisfaction is based on the company’s overall

the emotion and motivational knowledge. Remittance have been

researchers use this sampling technique to avoid biased representation

5- Strongly agree 4- Agree 3 – Moderately agree

To interpret the weighted mean and composite mean of the

5 4.27 – 4.39 Highly satisfied

4 4.14 – 4.26 Very satisfied

3 4.02 – 4.13 Satisfied

2 3.89 – 4.01 Not satisfied

1 3.77 – 3.88 Not highly satisfied

5 4.51 – 4.70 Highly satisfied

4 4.31 – 4.50 Very satisfied

3 4.12 – 4.30 Satisfied

2 3.92 – 4.11 Not satisfied

1 3.73 – 3.91 Not highly satisfied

5 4.09 – 4.39 Highly effective

4 3.78 – 4.08 Very effective

3 3.48 – 3.77 Effective

2 3.37 – 3.47 Not effective

1 2.87 – 3.16 Not highly effective

Data Gathering Procedure

This will be used to determine the demographic profile of the

This portion of the study deals with demographic profile of the

Age Frequency Percentage

As shown in the table above, it can be observed that majority of

10,000 above 26 37.15

frequency of 25 and 35.71 percentage. Lastly, respondents receiving at

Service Weighted Interpretation

2. Conciseness of pricing Not highly

4. The processing of money Satisfied