Bank of the Philippine Islands (BPI) is set to introduce international money transfers through its mobile banking app, following a partnership with Visa aimed at making cross-border transactions faster and more affordable for Filipinos.
The new service, expected to launch by the first quarter of 2027, will use Visa Direct, Visa’s real-time payments platform, allowing BPI customers to send money overseas directly from the BPI app.
According to the bank, the feature will initially support transfers to destinations including Singapore and the United Kingdom, where funds may arrive within seconds. Transfers to countries such as the United States, Canada, and Australia are expected to be completed within the same day or the next business day.
BPI said transaction fees could be as low as USD 5, offering a lower-cost alternative for customers who need to send money abroad for work, education, travel, business, or family support.
The service is expected to become available to more than four million active BPI mobile app users.
Joel de Vera, BPI’s head of strategy, products and support for institutional banking, said demand for secure, real-time, and affordable international payments continues to grow as more Filipinos engage in global activities.
Beyond digital banking, BPI is also expanding its physical reach through agency banking partnerships.
The bank recently partnered with Tambunting Pawnshop, allowing select BPI services to be offered in more than 100 Tambunting Kahera ng Bayan branches. Customers can apply for BPI products, deposit and withdraw funds, and perform cash-out transactions at participating locations.
BPI said its agency banking network now covers more than 7,000 partner stores nationwide as it continues efforts to improve access to financial services in underserved communities.
0 Comments
Leave a Reply