BPI, Visa to launch app-based money transfers

MANILA, Philippines — Bank of the Philippine Islands (BPI) is expanding its digital and physical banking channels as it seeks to make financial services more accessible to Filipinos here and abroad.

The Ayala-led bank has partnered with Visa to launch outbound cross-border money transfers through the BPI app by the first quarter of 2027, allowing clients to send funds abroad faster and at lower costs.

BPI said the service would use Visa Direct, Visa’s real-time payments platform, to enable outbound cross-border transfers worldwide with improved speed, convenience and transparency.

The new feature is expected to benefit more than four million active users of the BPI app.

Once available, BPI clients may send funds to select destinations such as Singapore and the United Kingdom within seconds. Transfers to the United States, Canada and Australia may be completed within the same or next business day.

Transaction fees may go as low as $5, which BPI said would help make international money transfers more affordable and accessible for Filipinos.

“Today’s clients expect financial services to move at the speed of their lives. As more Filipinos engage globally — whether for work, education, travel or business — the need for secure, real-time and affordable cross-border payments has become increasingly important,” said Joel de Vera, BPI head of strategy, products and support for institutional banking.

De Vera said the partnership forms part of BPI’s efforts to invest in digital solutions that simplify financial transactions for its clients.

“Through our partnership with Visa, we are enabling clients in the Philippines to send money abroad with greater ease and confidence directly from the BPI app,” he said.

Apart from strengthening its digital services, BPI is also expanding its physical access points through agency banking.

The bank has partnered with Tambunting Pawnshop to bring select BPI services to over 100 Tambunting Pawnshop Kahera ng Bayan branches starting February 2026.

Through BPI Agency Banking, Tambunting has joined the bank’s May BPI Dito partner store network, allowing customers to apply for BPI products, deposit and withdraw funds from their BPI accounts and cash out transactions at participating Tambunting branches.

BPI president and CEO Jose Teodoro Limcaoco said the agency-banking model remains an important tool in reaching underserved and community-based markets, especially in areas with limited access to traditional bank branches.

“We are proud to welcome Tambunting Pawnshop as one of our key partners, and together, we are committed to accelerating access to inclusive financial services and expanding opportunities for Filipinos across the nation,” he said.

Tambunting Pawnshop president and CEO Miguel Tambunting said the partnership would allow the company to provide customers with easier access to formal banking services.

“For over 140 years, Tambunting has grown alongside the Filipino people and earned their trust. Through this partnership with BPI, we can help more communities gain easier access to secure and reliable banking services,” Tambunting said.

BPI agency banking currently has more than 7,000 partner stores nationwide, with the bank seeking to further expand its footprint.