BDO Unibank and Seven Bank enhance remittance services for overseas Filipinos in Japan
BDO Unibank and Seven Bank recently reaffirmed their commitment to providing convenient and reliable remittance services to Overseas Filipinos in Japan. This partnership, initially established in 2017, leverages the strengths of two leading financial institutions from prominent Asian economies to meet the evolving needs of this significant demographic.
Recognizing the paramount importance of convenience and reliability for Overseas Filipinos remitting funds to their families, the renewed collaboration seeks to build upon the successes achieved over the past seven years. Both institutions acknowledge the mutual benefits derived from their partnership and are actively exploring opportunities to expand their collaborative efforts across a wider range of products and services.
Masaaki Matsuhashi, President and Representative Director of Seven Bank, lauded BDO's customer-centric approach, stating, "This aligns with Seven Bank's core values. BDO's proactive approach to developing new services for its customers makes them an ideal partner for collaborative innovation."
Currently, the partnership facilitates seamless money transfers from Japan to the Philippines via Seven Bank's International Money Transfer mobile application.
This service addresses a key challenge faced by Filipino workers in Japan, as noted by Genie T. Gloria, BDO Senior Vice President and Head of Remittance: "Many Filipino workers find it difficult to visit banks or remittance centers during traditional business hours. Our alliance with Seven Bank provides a crucial solution, enabling 24/7 remittance through their mobile app and extensive ATM network of over 27,000 locations throughout Japan."
BDO offers an extensive physical and digital infrastructure for Overseas Filipinos and their families. The BDO Kabayan Savings account allows beneficiaries to conveniently receive and withdraw funds 24/7 from over 5,700 BDO ATMs across the Philippines. Additionally, the Cash Pick-up Anywhere service provides access to funds at more than 14,000 locations nationwide, including over 1,700 BDO and BDO Network Bank branches, BDO Remit counters within SM malls, and over 12,000 Cash Agad partner agents.
The Seven Bank International Money Transfer mobile app ensures fast and secure remittance delivery, guaranteeing 24/7 availability for Overseas Filipinos in Japan. Seven Bank's positive assessment is echoed by BDO's extensive global network of remittance partners, spanning North America, Europe, the Middle East, and the Asia-Pacific region.
Overseas Filipino remittances constitute a significant contribution to the global economy, reaching a record high of US$37.2 billion in 2023. The continued partnership between BDO and Seven Bank is poised to further enhance the efficiency and reliability of these crucial financial flows.
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