BPI Launches US Remittance Service for Filipinos
The Bank of the Philippine Islands (BPI) has introduced BPI Remit, a new service allowing Filipinos in the US to send money to the Philippines swiftly and securely. The service, launched with the aim of making remittances faster, more secure, and rewarding, is promoted by BPI Institutional Banking's Head of Strategy, Products and Support Group, Joel De Vera.
BPI Remit offers competitive transaction limits. Users can send up to US$700 daily, US$2,100 weekly, and US$1,000 monthly. Transfers are real-time, with tracking possible through the BPI mobile app. The service facilitates direct fund transfers from a US bank account to a BPI account in the Philippines, with recipients instantly accessing funds at favorable exchange rates.
BPI Remit charges a fixed US$1 fee for transfers below US$250, with no charge for amounts US$250 and above. The bank has been actively promoting the service among Filipino communities in the US, including sponsorship of a concert to introduce the platform. BPI Remit is delivered in partnership with remittance providers like Meridian.
BPI Remit, launched by the Bank of the Philippine Islands, offers a convenient, secure, and cost-effective way for Filipinos in the US to send money home. With competitive limits, real-time transfers, and favorable exchange rates, the service aims to make remittances faster, more secure, and rewarding for both senders and recipients.
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