Ayala-led Bank of the Philippine Islands (BPI) and US-based Western Union have partnered to offer faster remittance services for Filipinos, particularly those working abroad.
BPI, in a statement, said the deal with The Western Union Company involved “direct-to-bank money transfer services” where account holders would be able to access funds via 820 BPI branches, offices and remittance centers across the globe.
The service will be available in 40 countries including the US, Canada, Japan, Singapore, Malaysia, Australia, New Zealand, the UK, Italy, Norway and Denmark. BPI said it would also be available online in selected markets.
“Western Union is transforming our business in response to consumers’ needs, providing speed, reliability, and convenience in the most accessible of ways,” BPI said.
“Our collaboration with BPI to offer international direct-to-bank money transfer services further supports our position as a global leader in providing innovative solutions, high service levels and omni-channel integration for cross-border money movement to
Filipinos around the world,” added Hikmet Ersek, Western Union president and chief executive.
His counterpart at Philippine bank, Cezar P. Consing, said “Combining BPI’s domestic reach with Western Union’s global footprint allows BPI account holders to receive funds from over 40 countries around the world within minutes.”
“This is but one of the many ways that we are addressing the most critical financial needs of many of our most important clients.”