Bank of the Philippine Islands (BPI) has inked a partnership with LuLu Exchange, a foreign exchange and remittance service provider in UAE, to make remittances easier for Overseas Filipino Workers (OFWs).
The new alliance will allow OFWs to make fund transfers directly to BPI and BPI Family Savings Bank accounts in the UAE, Oman, Kuwait, Bahrain, and Seychelles, where Lulu Exchange branches are located.
BPI executive vice president Simon Paterno said: “Our priority is to ensure the convenience of OFWs in sending remittances wherever they are in the world, while giving beneficiaries a seamless and secure way of receiving money.”
Abu Dhabi-based Lulu Exchange currently has over 170 branches across nine countries in the Middle East and Asia Pacific. It also intends to foray into Europe.
Lulu Exchange CEO Adeeb Ahamed added: “We are excited to tie up with BPI to enhance our services offering to the Philippines. We have always committed to reach out to our customers by offering quality services and experience with the best technology.”