BDO Unibank Inc., the country’s largest lender, expanded its remittance partnership with Western Union Co. that allows money transfers worldwide to be available for pick-up at the bank’s branches across the Philippines.
The extended collaboration involves the offering of cash pick-up of Western Union money transfers at more than 1,100 BDO branches in the country.
Western Union and BDO initially launched a credit to account service in 2015 allowing remitters to send money straight to BDO accounts from more than 70 countries via www.westernunion.com and through Western Union agent locations in more than 200 countries and territories worldwide.
The bank said that with the expanded collaboration, customers who do not have a BDO account yet may conveniently claim Western Union remittances at BDO and its rural bank subsidiary—BDO Network Bank which has over 130 branches nationwide.
BDO’s presence inside SM Supermalls allows customers to claim Western Union remittances more conveniently as the branches are open up to 7 p.m. including weekends and selected holidays.
This serves as one-stop-shop for customers as they may claim remittances and purchase their basic needs, in just one go.
Genie Gloria, senior vice president and head of BDO Remittance, said the bank’s extended collaboration with Western Union was a proof of continuous commitment to make remittances from almost any part of the globe convenient to receive.
“Western Union has helped us in bridging not only Filipino workers from different parts of the world but also other global senders and their remittance beneficiaries in the Philippines, who can rely on us through our accessible and convenient cash pick-up locations. The Western Union-BDO collaboration delivers a kind of service that is reliable given the two institutions’ credibility and trust they’ve both earned through the year,” Gloria said.
The Western Union-BDO alliance complements the Philippines’ ranking as the worlds’ fourth largest receiver of remittance in 2018, according to a World Bank report.
BDO remains the leader in OFW remittances and said this leadership was solidified by a recent award from the Bangko Sentral ng Pilipinas as the “Commercial Bank that Generated the Largest Overseas Filipino Remittances” for 2018.
New York Stock Exchange-listed Western Union Co. is a global leader in cross-border, cross-currency money movement. As of June 30, 2019, its network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories.