In the photo: Cezar P. Consing, President and CEO, Bank of the Philippine Islands (left), and Hikmet Ersek, President and CEO, Western Union (right). photo supplied
MAKATI CITY, Philippines--The Western Union Company (NYSE:WU), a leader in global remittance services announced an agreement with the Bank of the Philippine Islands (PSE: BPI) to promote a more simplified way for overseas Filipinos to send money straight to their loved ones’ bank accounts back home—direct-to-bank money transfer services.
Western Union, the first to introduce money transfers, and BPI, one of the first banks in Southeast Asia, collaborate to add yet another milestone to the remittance industry. The international direct-to-bank service allows BPI account holders to access their remittances through nearly 820 BPI branches in the country and its offices and remittance centers across the globe.
“Western Union is transforming our business in response to consumers’ needs, providing speed, reliability, and convenience in the most accessible of ways. 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,” says Hikmet Ersek, President and CEO, Western Union.
“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,” says Cezar P. Consing, President and CEO, Bank of the Philippine Islands.
To send money directly to a BPI bank account via Western Union, consumers simply need the recipient’s full name and the recipient’s BPI bank account number. The service is also available online in selected markets.
Western Union’s international direct-to-bank service can rapidly and conveniently credit remittances from over 40 countries, including the USA, Canada, Japan, Singapore, Malaysia, Australia, New Zealand, the United Kingdom, Italy, Norway, Denmark to over 60 Agent banks in the Philippines. The service can also be accessed online at www.westernunion.com
• Funds generally take minutes to reach a recipient’s bank account. Services and Funds may be delayed or services unavailable based on transaction conditions, including regulatory and foreign exchange issues, identification requirements, consumer protection issues, delivery restrictions, bank operating hours, banking and local holidays, and differences in time zones. Additional restrictions may apply.
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