Banco de Oro Unibank Inc. (BDO) is offering a menu of remittance services to address the major concerns of overseas Filipino workers (OFWs).
Under its BDO Remit brand, the bank offers a menu of services that are convenient, secure, reliable, and flexible.
The bank has raised the bar in the traditional cash pickup service by utilizing its expanded network.
Tagged as Cash Pickup Anywhere, beneficiaries can claim their remittances in peso, dollars or SM gift pass from hundreds of BDO branches, SM Forex counters inside the SM Department Stores, SM Hypermarkets, BDO onsite outlets and rural bank partners in the provinces.
“We are the only bank that can pay-out remittances up to 8 p.m. through our SM Forex Counters. Our banks inside the malls are open up to 7 p.m. even on weekends. This allows remittances to be claimed within one day regardless of the time zones,” Genie Gloria, vice president and head of BDO Remittance-Domestic Operations, said.
The same convenience also applies to BDO Remit Cash Card, a re-loadable electronic card that works as a debit card and an automated teller machine (ATM) card, which one can use to withdraw anytime at BDO, Expressnet and Megalink ATMs.
Gloria believes that safety is a major thing for OFWs when sending remittances.
BDO Remit also launched a remittance tracking system accessible through the BDO website wherein the remitter or the beneficiary can instantly check on real-time basis the status of their remittance from the time it is sent up to the time it is received.
The Sy-led commercial bank also formed BDO Asenso Kabayan to address the needs of the many OFWs who would want to avail loan facilities and investment opportunities but don’t know where to go and how to go about it. It also aims to encourage them to save and expand their earnings.
“BDO Asenso Kabayan provides a package like this to OFWs where everything they need is linked, aimed at providing OFWs and their families remittance services but also to provide them solutions to their various financial requirements,” said Jones Diokno, vice president and head of BDO Remittance-International Operations.
Apart from the bank’s international remittance partners, BDO sends marketing expatriates to their offices and subsidiaries in Asia, Europe, Middle East and the US. Compliance of the procedures and the requirements are also made easier for OFWs.
Another innovation from BDO is its pioneering collaboration with Jollibee. Launched on September 2007, Jollibee Langhap Sarap Padala allows remitters to purchase Jollibee food products through the subsidiaries and remittance partners abroad for delivery right at the doorstep of their beneficiaries in the Philippines.
Available in Metro Manila and greater Manila area, this service will soon be made available to provincial areas.
Today, BDO Remittance’s approach is geared towards giving OFWs better banking experience. Now merged with Equitable-PCI, the bank amalgamates the reputation and credibility of Equitable’s Express Padala with the forward-thinking character of BDO Remit.
“It’s a good mix of the old and the new. With BDO, we established strong partnerships and capitalize on our local distribution network comprising SM and rural banks. Equitable-PCI on the other hand, has offices abroad, in Hong Kong, Italy, US, etc. Plus, of course, we’re continuously building more synergies with SM and our other partners,” Diokno added.