The Philippines is a remittance economy. Personal remittances, which boost household income and consumption, are actually responsible for 9.3 percent of gross domestic product (GDP), and 7.8 percent of gross national income (GNI).
A survey done by the Philippine Statistics Authority however revealed some interesting information about remittances — mainly that domestic remittances are just as important as the international. Of those who sent remittances, almost all, or 98 percent sent to a domestic recipient in the Philippines.
This very relevant process was made very difficult during strict lockdown, making it difficult to send funds to family members and loved ones affected by the pandemic.
Metrobank then took meaningful action to answer this pressing need and have since launched digital domestic remittance service,called “Cash Pick-Up”, for Metrobank clients.
Cash Pick-up allows clients to send funds in real-time through their Metrobank Mobile App to beneficiaries without bank accounts, who can then use a single reference number to claim funds through any of the over 10,200 nationwide outlets of our remittance partners, Cebuana Lhuillier, M.Lhuillier, Villarica, RD Pawnshop, Palawan Pawnshop and LBC.
The process is easy. Just log in to the Metrobank Mobile app, press the menu button and tap “CASH PICK-UP”. Fill in the necessary details, choose the source account for the transaction, and enter the amount for cash pick-up.
The app will ask you to review all information input to confirm, and then you will receive a One Time Password (OTP) which will be sent to your mobile phone via SMS.