The Bank of the Philippine Islands (BPI) has strengthened its partnership with MoneyGram, which has waived its sending fees to an expanded list of countries from where overseas Filipinos send their remittances to their families back in the Philippines.
MoneyGram waived fees for money transfers from the US, the United Kingdom, France, Italy, and Spain to BPI or BPI Family Savings Bank accounts via MoneyGram Online and mobile app.
Melinda Dulay, Head of BPI Inward Remittance, said this is a big help to clients dealing with the challenges brought on by COVID-19.
“BPI and MoneyGram both want to provide safe, reliable, convenient, and affordable money transfers for overseas Filipinos,” she said.
“Our tie up with MoneyGram provides valuable service during this challenging situation brought about by COVID-19. By using MoneyGram’sdigital channels, our overseas Filipinos can securely send money to their families in the Philippines from the safety and convenience of their homes, which is especially important during this time. They can also enjoy waived or discounted transfer fees in select countries, which go a long way in helping lighten their burdens,” she added.
MoneyGram Online users in Austria, Belgium, Greece, Ireland, Latvia, Lithuania, Malta, the Netherlands, Portugal, and Slovakia can enjoy a flat rate of 1.99 EUR when making Direct to Bank Account transfers to BPI accounts.
“As part of our strategy to accelerate digital growth and mobilize the movement of money, we continue to focus on expanding account deposit capabilities to more markets around the world,” said Kamila Chytil, MoneyGram Chief Operating Officer and leader of the company’s digital efforts. “This partnership enables millions of consumers in the Philippines to quickly and easily receive money directly into their bank accounts.”
BPI has partnerships with reputable remittance companies around the world. Many of these remittance partners have agreed to extend waivers or discounts on sending fees to BPI beneficiary accounts to help Overseas Filipinos and their families amid the COVID-19 health crisis.