(Source: Datamonitor)
Metropolitan Bank & Trust Co., or Metrobank, has partnered with Wells Fargo through Uniteller Financial Services, to provide Filipinos a new way in claiming remittances from their families in the US.
According to Bangko Sentral ng Pilipinas (BSP), the Philippines received $18.76 billion of remittances in 2010, 8.2% higher than 2009. More than 40% of these remittances came from the US. Given the statistics, this remittance alliance gives overseas Filipinos, access to over 10,000 locations where they can remit money to the Philippines.
"As the trusted banking partner of Overseas Filipinos (OFs), we continue to expand our services to provide solutions to their needs," said Richard So, senior vice president and head of the International Offices and Subsidiaries Group of Metrobank. "The big advantage of this remittance alliance is that remittances are sent to the Philippines on a real time basis and can be claimed at 580 Metrobank branches and over 1,000 ATMs all over the country. "
"By expanding our remittance network to the Philippines, we are enhancing our customers' beneficiaries experience through a more diverse set of remittance payout channels and expanded hours of operation. Our goal is to offer a remittance service that is economical, dependable and convenient. Our remittance alliance with Metrobank further enhances our ability to offer just that," Daniel Ayala added.
US-based Filipinos can send their remittance on a real-time basis for credit to Metrobank accounts. Beneficiaries can also use all the Metrobank e-banking channels for a more convenient way of transacting remittances.
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