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August 13, 2019

BDO Unibank, Western Union ink cross-border payment partnership

BDO Unibank, a Filipino lender, has expanded its alliance with money transfer firm Western Union to facilitate international money transfers.

Under the partnership, over 1,100 branches of the bank will be able to pay-out Western Union international remittances.

The service can even be availed by those without a BDO Unibank account.

Moreover, one may also visit BDO Unibank’s rural bank subsidiary One Network to receive the funds.

Until now, one could only receive money directly into their BDO Unibank accounts.

The latest tie-up further strengthens Western Union’s foothold in the Philippines, which World Bank ranked as the fourth largest remittance receiver country across the globe in 2018.

Earlier this year, the remittance firm was tapped by Filipino blockchain-powered mobile wallet provider Coins.ph to facilitate cross-border payments.

BDO Remittance senior vice president and head Genie Gloria said: “Our extended collaboration with Western Union is proof of our continuous commitment to make remittances from almost any part of the globe convenient to receive.

“Western Union has helped us in bridging not only Filipino workers from different parts of the world but also other global senders and their remittance beneficiaries in the Philippines, who can rely on us through our accessible and convenient cash pick-up locations.”

BDO Unibank is said to be Philippines’ largest bank in terms of assets.

The bank’s service suite includes traditional loan and deposit products, investment banking, private banking, rural banking, leasing and finance, insurance and remittance among others.

 

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