BPI Outward Remittance allows retail consumers of Bank of the Philippine Islands (BPI) to send money from their Peso or US Dollar account to a foreign bank account via BPI Online and BPI Mobile app. The program was recently created to supplement in-person bank transfers, allowing customers more easy ways to send money to relatives and friends in other countries.
With BPI Outward Remittance, the Bank will enable more clients to fulfill international wire transfers in just a few taps for needs such as educational expenses, medical expenses, foreign travel funds, subscriptions, and insurance payments.
“We at BPI continue to innovate and reinvent our products and services to make everyday banking more convenient for our customers. With the BPI Outward Remittance being available in our digital channels, our customers will be able to enjoy fast and convenient international fund transfers anywhere, anytime,” said Reggie Cariaso, BPI Head of Corporate Banking Strategy, Products, and Support.
BPI Outward Remittance ensures secure fund transfers of up to $10,000 with SWIFT global payment innovations (SWIFT gpi), an advanced payment method using modern digital tools for traceable and swifter cross-border payments. Clients will simply need to fill in their sending details, receiving bank details, and beneficiary details via BPI Online or BPI Mobile app.
The product offers affordable overall charges and competitive foreign exchange rates in multiple currencies including USD, AUD, GBP, EUR, SGD, HKD, and CAD. It also provides a fast and reliable turnaround time of one to three banking days for transactions with no discrepancies.
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