BDO Unibank Inc. sealed a strategic partnership with Japan’s Seven Bank Ltd. to strengthen its remittance business.
BDO said in a statement Wednesday the partnership would cover an international money transfer service to the Philippines, allowing customers to easily transfer money from Japan to the Philippines just by downloading “Seven Bank International Money Transfer” application on mobile phones.
The service complements BDO’s own remittance facility done through BDO Remit. With BDO Kabayan Savings, OFW beneficiaries can receive and withdraw money sent from abroad.
It also features Cash Pick-up Anywhere where beneficiaries can claim money at more than 8,000 locations nationwide including from 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.
BDO is a consistent Top Remittance Bank awardee of the Bangko Sentral ng Pilipinas.
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 will enable BDO to reach customers beyond Shinjuku/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 said.
Japan, the world’s third largest economy, is among the leading sources of OFW remittances. Records show that as of 2016, OFWs in Japan totaled 243,662.
Seven Bank said in a statement the two banks “which both share the same service philosophy of providing customer convenience, will continue to discuss and explore ways to come up with improved financial services for both Filipino customers in Japan and the Philippines.”
Seven Bank is a Japanese bank specializing in ATM services that was created in 2001 in response to requests from Seven-Eleven customers for in-store ATMs.
Since it began operations in 2001, Seven Bank has kept a consistent focus on its customer viewpoint in offering ATM services that can be accessed “anytime, anywhere, by anyone, and with safety and security” and in creating new services that build on those ATM services.
Seven Bank partners with various financial and non-bank institutions so customer can use whatever cards they hold at their ATMs. It has around 600 partners among financial institutions throughout Japan.