BDO Unibank (BDO) has joined forces with UAE’s bank Emirates NBD for NBD’s money transfer service targeted at overseas Filipino workers.
The service, known as DirectRemit 60 Seconds, will facilitate transfer of Philippine peso to BDO bank accounts in 60 seconds.
BDO senior vice president for remittance distribution Geneva T.Gloria said that the collaboration would be helpful for remittance beneficiaries of migrant Filipino workers stationed across different areas of UAE such as Dubai and Abu Dhabi.
"UAE is host to more than 700,000 Filipinos who diligently work to be able to send money back to their families in the Philippines. This is another channel that will bring security and ease to our remitters," said Gloria.
The service has been started last December and is touted to be the fastest direct bank transfer service in the UAE.
Referring to the alliance as a "good fit" Gloria added, "Most of their Filipino clients who maintain an account with them are also enrolled in Emirates’ online banking facility. Using this platform, these customers can send money to the Philippines anytime, anywhere and can also pay their bills, insurance premiums or loans payments via their BDO accounts."