MANILA, Philippines – Sy-led BDO Unibank Inc. has partnered with another Japanese bank to further cement its dominance in the international money transfer business.
The listed bank owned by retail and banking magnate Henry Sy has partnered with Seven Bank Ltd. of Japan for the launch of an international money transfer service to the Philippines.
The partnership would allow customers to easily transfer money from Japan to the Philippines just by downloading “Seven Bank International Money Transfer” application on their mobile phones.
The said service complements BDO’s own remittance facility done through its remittance brand, BDO Remit. With BDO Kabayan Savings, OFW beneficiaries could effortlessly receive and withdraw money sent from abroad.
There’s also the Cash Pick-up Anywhere where beneficiaries could claim money at more 8,000 locations nationwide including from the over 1,100 BDO branches; BDO Remit counters inside SM malls; rural banks and pawnshop partners.
“One of the challenges encountered by Filipino workers in Japan is not being able to visit banks and remittance centers during daytime because of their work schedule. But with the new alliance with Seven Bank, Filipinos can start to send money to their loved ones back home through a mobile app anytime, anywhere,” BDO said in a statement.
The country’s largest lender has been a consistent Top Remittance Bank awardee of the Bangko Sentral ng Pilipinas.
While BDO’s remittance network began its presence in Japan by establishing a BDO Remit office in Shinjuku in May 2016, the alliance with Seven Bank would enable BDO to reach customers beyond Shinjuku or Tokyo area and various prefectures of Japan.
“Once Seven Bank’s ‘International Money Transfer App’ is launched, customers will be able to conveniently and easily remit funds to BDO Unibank accounts 24/7 just by using their mobile phones. The partnership will indeed allow for more time-friendly and less effort means of sending money, leaving no worries for our kababayans in Japan,” BDO added.