BPI Launches Faster, Safer US to PH Money Transfers with BPI Remit
The Bank of the Philippine Islands (BPI) has introduced BPI Remit, a new service designed to make money transfers from the US to the Philippines faster, safer, and more efficient. The service is now available to Filipino communities in the US, with BPI actively promoting it through various outreach programs, including concert sponsorships.
BPI Remit allows users to transfer funds directly from a US bank account to a BPI account in the Philippines via a mobile app or online platform. The service offers competitive exchange rates and real-time tracking of transactions, ensuring recipients in the Philippines have instant access to their funds.
To ensure security and convenience, BPI Remit has set transaction limits at US$700 daily, US$3,500 weekly, and US$1,000 monthly. The service charges a fixed US$1 fee for transfers below US$250, with transfers of US$250 and above being free. BPI Remit aims to provide a more efficient and secure experience for users, as stated by Joel De Vera, BPI Institutional Banking's Head of Strategy, Products and Support Group. BPI is working with remittance partners like Meridian to deliver this service.
BPI Remit, launched to serve the Filipino community in the US, offers a fast, secure, and cost-effective way to send money to the Philippines. With competitive exchange rates, real-time tracking, and partnerships with remittance providers, BPI Remit is set to simplify the remittance process for users.
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