Filipinos in Australia now have a new option to send their hard-earned money to their loved ones in the Philippines. The Development Bank of the Philippines (DBP), a government-owned financial institution, recently announced a new online remittance service called AussiePadala. AussiePadala enables anybody maintaining an account with any bank in Australia to remit funds online to their beneficiary maintaining an account with any bank in the Philippines.
According to DBP president and chief executive officer Cecilia C. Borromeo, “We are committed to providing overseas Filipinos with a remittance service that is convenient, secure, and offers great value for their hard-earned money.”
DBP has partnered with one of Australia’s top banks which enabled the online remittance service for DBP. According to George Inocencio, head of DBP’s Remittance Department, “Funds transferred before 6 p.m. of Sydney time are normally received by the beneficiary in the Philippines on the next banking day. Remitters can send up to A$10,000 per transaction with a fixed charge of only A$10.” Inocencio added that, “As an introductory offer, we are waiving the AussiePadala service fee for the first few months.”