iRemit opens 5th outlet in Canada

MANILA, Philippines - iRemit Inc., the largest non-bank Filipino-owned remittance company, has opened its newest branch in Canada to cater to both Filipino and Chinese clients.

The new outlet, located in West Edmonton Mall, the largest shopping mall in North America and the fifth largest in the world, is iRemit’s fifth outlet in the country.

Harris Jacildo, president of iRemit, said the newest branch is situated in Chinatown Hall where business establishments catering to the Asian population are located. “This move will make us more accessible to both Filipinos and Chinese customers across Edmonton. This expansion initiative should create more synergy between our major core remittance services and our Chinese remittance business.”

The Chinese remittance business of the company was established under a special agreement with the Bank of China Ltd. (BOC), one of China’s four state-owned commercial banks that provide a comprehensive range of high-quality financial services. BOC has numerous branches in every major continent outside of mainland China.

Jacildo said the remittance agreement between the two financial institutions will benefit thousands of Chinese customers who wish to remit money to their families in China.

iRemit offers same-day processing of remittances which beneficiaries in China may withdraw from any of Bank of China’s over 12,000 domestic branches.

Jacildo said Filipinos in Canada now comprise the third-largest Asian-Canadian group after the Indian and Chinese communities, growing from 308,000 to 436,000 between 2001 and 2006.

He said Filipinos in Canada are known to possess high levels of education. Among Canada’s non-European-origin groups, Filipinos rank second in terms of the proportion of the population having earned college degrees. Approximately 31 percent of Filipinos have a college or higher degree compared to only 14 percent of the European-origin population.

With iRemit’s continuing expansion across the globe, Jacildo stressed the importance of enhancing not only the products being offered by the company but also improving customer service.         – Zinnia dela Peña