RCBC remittances up 20% to $772-M last year

RCBC TeleMoney posted an impressive 20 percent growth, generating $772 million in remittance amount. In terms of number of remittance items, TeleMoney processed more than 1.7 million transactions in 2002, or a 10 percent increase over year-ago’s production level.

The year 2002 also brought TeleMoney closer to the overseas Filipino workers (OFWs) through the opening of the "One Stop Shop" center in Hong Kong. The center, under one roof, offers an impressive array of products and services – from insurance and pre-need plans to flowers, lechon, and appliances – courtesy of YGC companies and other accredited reputable institutions.

With the encouraging prospects from the Hong Kong outlet, the "One Stop Shop" program was replicated in Italy, Lebanon, Singapore, and Brunei.

TeleMoney took the extra mile by repackaging its TeleMoney e-Cash Card with its reloadable feature, providing hassle-free sending of money to beneficiaries back home. Likewise, it introduced innovative procedures on the transfer of funds intended for credit to other banks via the PCHC infrastructure. In addition, it also streamlined the process in SSS premium payments.

Contributing to TeleMoney’s growth in 2002 was its focused understanding of the needs of the OFWs with the expansion of personalized customer service support and the continuous service consultations and fora with accredited door-to-door delivery couriers nationwide.