Dubai: UAE Exchange ties up with BDO Unibank for FLASHremit

- Media Release

• UAE Exchange enters deal with BDO Unibank to make its instant bank transfer service FLASHremit available to customers

• Through FlashRemit, sending money to BDO Unibank accounts now happens in an instant, plus an SMS confirmation is sent to receivers once funds are credited.

• Asia United Bank, Metro Bank and Rizal Commercial Banking Corporation are the other three banks, which have partnered UAE Exchange for FLASHremit

 

Dubai, Dec 29, 2014: Filipinos can now send money real-time to their families with BDO Unibank accounts back home following the tie-up between UAE Exchange and BDO for the offering of FLASHremit. An innovative service launched by UAE Exchange, a leading global remittance, foreign exchange and payment solutions brand, FLASHremit empowers the customers to send money to any bank account across borders, in real-time. Both the sender and beneficiary receive an SMS notification the moment the account is credited. Many customers benefit from this real-time remittance service, which include other countries like Bangladesh, India, Indonesia, Malaysia, Nepal, Pakistan and Sri Lanka.  In Philiphines, other than BDO Unibank, Asia United Bank, Metro Bank and Rizal Commercial Banking Corporation are the other three banks, which have partnered with UAE Exchange for Flashremit.

 

Commenting on the partnership with BDO, Promoth Manghat, vice president – global operations, UAE Exchange, said: ‘UAE Exchange has always aimed at making money transfer a seamless experience and has entered into an alliance with BDO Unibank in this regard. The Filipinos form one of the largest expat communities living abroad, and by offering various financial solutions, we attempt to make their stay outside homeland as comfortable as possible. We have been organizing various promotions like Pinoy Panalo, Filipino Fest and Money Majlis for this dynamic community. Providing instant bank transfer services will not only strengthen the relationship with our banking partner, but also be a welcome initiative for our Filipino customers.’

 

Genie Gloria, SVP and Head of BDO Remittance Distribution said:  ‘Providing quality customer service and achieving operational efficiency have always been our priority. FLASHremit is a combination of these two strengths, from which both our institution and customers will benefit.  Fast and reliable send and receipt of money by Filipinos in the UAE is a service mission both BDO Unibank and UAE Exchange share.’

 

More than 9,000 professionals of various nationalities, including Filipinos, form part of the effective team at UAE Exchange serving over 7.9 million customers worldwide. Currently, UAE Exchange has over 725 branches across 32 countries, and is the world’s largest networked remittance brand. Its strong correspondent banking relationship, with 150 global banks, adds to the might. Its penchant to achieve excellence and bring delight to customers has won the ISO certified brand many global awards for quality and business excellence, and earned the trust of customers, partners and regulators alike, standing up to the acclaim of the World’s Trusted Money Transferrer.

 

BDO Unibank is a full-service universal bank in the Philippines. It has a complete array of industry-leading products and services including Lending (corporate, middle market, SME, and consumer), deposit-taking, foreign exchange, brokering, trust and investments, credit cards, corporate cash management and remittances in the Philippines. Through its local subsidiaries, the Bank offers leasing and financing, investment banking, private banking, Bancassurance, insurance brokerage and stock brokerage services. It is the Philippines’ largest bank in terms of total resources, capital, customer loans, total deposits, and assets under management as of second quarter of 2014. BDO Unibank, through its remittance service BDO Remit, has been named by the country’s central monetary authority, Bangko Sentral ng Pilipinas, the top commercial bank for generating remittances from overseas Filipinos for several years since 2008.