BDO, MoneyGram tie up for remittance service

MANILA, Philippines - The Banco de Oro Unibank Inc. (BDO) has entered into an agreement with MoneyGram, resulting in huge benefits for overseas Filipinos and their relatives in the Philippines.

BDO, via its global remittance service brand BDO Remit, expanded its credit to BDO account service in selected MoneyGram outlets in the US, Singapore, Brunei and Greece, paving the way for efficient and direct-to-bank account money transfer facility.

Soon, the service would also be launched in MoneyGram locations worldwide to heighten convenient access and allow beneficiaries to receive remittances the fastest way possible.

Apart from offering credit to BDO account in MoneyGram outlets, money senders may also remit online through www.emoneygram.com.

Once the money has been credited to a BDO account, the client may claim the remittance from any of the more than 1,400 BDO automated teller machines (ATMs) or from over 10,000 Expressnet, Megalink and Bancnet ATMs nationwide.

Clients may also withdraw over the counter from about 730 BDO branches all over the country, with some open even on weekends and holidays.

For those who don’t have BDO accounts yet, applying for one is very easy as all they have to do is to open with only P50 initial deposit and they may start receiving remittances through their BDO peso account.

The partnership for the credit to account service is a milestone for both companies. BDO is the only Philippine bank exclusively accredited by MoneyGram for its credit to bank account in the country.

For MoneyGram, the said service marked its first foray in the Asia-Pacific market. The global firm, with a huge network of 233,000 local agents across 191 countries and territories, recognizes the Philippines as one of the most important remittance markets in the world.